annual report - inner - TOTAL Nigeria Plc

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NOTES TO THE FINANCIAL STATEMENTS (Cont’d) Plant, Capital Land and equipment Computer work-in- Total 8. FIXED ASSETS buildings vehicles equipment progress N'000 N'000 N'000 N'000 N'000 .1 Cost At 1 January 2011 8,742,154 10,083,275 1,807,910 2,367,925 23,001,264 Transfers 764,576 839,194 382,985 (1,986,755) - Additions 341,787 880,783 293,930 1,945,496 3,461,996 Disposals (64,517) (251,222) (35,447) (351,186) At 31 December 2011 9,784,000 11,552,030 2,449,378 2,326,666 26,112,074 Depreciation At 1 January 2011 1,559,575 5,494,631 1,209,328 - 8,263,534 Charge for the year 311,917 1,190,907 264,942 - 1,767,766 Disposals (173) (238,166) (33,879) - (272,218) At 31 December 2011 1,871,319 6,447,372 1,440,391 - 9,759,082 Net book value At 31 December 2011 7,912,681 5,104,658 1,008,987 2,326,666 16,352,992 At 31 December 2010 7,182,579 4,588,644 598,582 2,367,925 14,737,730 2011 2010 .2 Cost of land and buildings include: N'000 N'000 Freehold land 2,969,401 2,719,332 Buildings 6,814,599 6,022,822 9,784,000 8,742,154 Some of the buildings were freehold land. constructed on land held under rights of occupancy and some on .3 .4 .5 .6 The depreciation charge for the period N1,767,766,000 which is attributable to historical cost is included in administrative expenses. There is no fixed asset for which there is no record of price or production cost. There was no outstanding Capital commitment as at December 2011 (Dec 2010 - N61,636,804). Capital work in progress relates to projects under construction. As each project is completed it is transferred to appropriate class of fixed assets. 2011 Annual Report & Accounts 35
NOTES TO THE FINANCIAL STATEMENTS (Cont’d) 9. FINANCE LEASED ASSETS 2011 N'000 2010 N'000 Motor vehicles Cost At 1 January 448,751 393,788 Additions 136,602 87,893 Disposal (66,037) (32,930) At 31 December 519,316 448,751 Depreciation At 1 January 193,111 111,273 Charge for the year 109,761 99,490 Disposal (44,459) (17,652) At 31 December 258,413 193,111 Net book value 260,903 255,640 During the period, the Company acquired motor vehicles amounting to N136,601,500 under finance lease contracts. These had been capitalised and depreciated in accordance with the requirements of the Statement of Accounting Standards No.11. Depreciation charges for the year are included in administrative expenses. 2011 2010 10. INVESTMENTS N'000 N'000 10.1 At cost: Shares in Bank of Industry Limited - 10 Oando <strong>Plc</strong> - 20 African Petroleum <strong>Plc</strong> - 1 - 31 10.2 At 1 January 31 31 Investment written off during the year (31) - At 31 December - 31 11. LONG TERM PREPAYMENTS Long term prepaid network 1,543,128 1,633,108 Prepaid depot expenses 82,000 147,600 Prepaid rent- residences and offices 52,756 10,637 1,677,884 1,791,345 36 2011 Annual Report & Accounts
Page 2 and 3: CORPORATE PROFILE Total S.A. (the p
Page 4 and 5: CONTENTS Page Board of Directors, P
Page 6 and 7: HEAD OFFICE, SALES TERRITORIES AND
Page 8 and 9: NOTICE OF MEETING NOTICE IS HEREBY
Page 10 and 11: CHAIRMAN’S STATEMENT (Cont’d)
Page 12 and 13: BOARD OF DIRECTORS (Cont’d) Chief
Page 14 and 15: THE DIRECTORS’ PROFILE (Cont’d)
Page 16 and 17: REPORT OF THE DIRECTORS (Cont’d)
Page 25 and 26: REPORT OF AUDIT COMMITTEE TO THE ME
Page 27 and 28: SIGNIFICANT ACCOUNTING POLICIES (Co
Page 29 and 30: PROFIT AND LOSS ACCOUNT For the yea
Page 31 and 32: STATEMENT OF CASH FLOWS For the yea
Page 33 and 34: NOTES TO THE FINANCIAL STATEMENTS (
Page 35: NOTES TO THE FINANCIAL STATEMENTS (
Page 47: FIVE-YEAR FINANCIAL SUMMARY 2011 20
Page 51 and 52: “ COLLABORATION: A PATH FOR TOMOR
Page 53 and 54: “ COLLABORATION: A PATH FOR TOMOR
Page 55 and 56: SHARE CAPITAL HISTORY 1. The author
Page 57 and 58: LIST OF MAJOR DISTRIBUTORS (Cont’
Page 60 and 61: PROXY FORM I/We TOTAL NIGERIA PLC.

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