2006 Annual Report - University of Salford

Annual Report &
Financial Statements
Notes to the Accounts
14 Tangible Assets Land & Buildings Assets in the Equipment Total
Course of
Construction
Consolidated £’000 £’000 £’000 £’000
Historical Cost/Valuation
At 1 August 2005 124,099 20,616 25,212 169,927
Revaluation at 31 July 2006 8,975 - - 8,975
Additions 6,384 5,754 4,588 16,726
Transfers 22,092 (22,092) - -
Exceptional Arts & Media Development Costs - (3,845) - (3,845)
Disposals (7,773) - (1,315) (9,088)
At 31 July 2006 153,777 433 28,485 182,695
Depreciation
At 1 August 2005 20,653 - 17,155 37,808
Revaluation at 31 July 2006 (18,347) - - (18,347)
Charge for the Year 5,499 - 2,711 8,210
Exceptional Impairment charge 1,200 - - 1,200
Disposals (7,390) - (1,306) (8,696)
At 31 July 2006 1,615 - 18,560 20,175
Net Book Value
At 31 July 2006 152,162 433 9,925 162,520
At 1 August 2005 103,446 20,616 8,057 132,119
Land and Buildings with a net book value of £53,481,000 and have been funded from Treasury
sources.Should these Land and Buildings be sold the University would either have to surrender the proceeds
to the Treasury or use them in accordance with the University’s Financial Memorandum with the Higher
Education Funding Council for England.The Land and Building assets of the University are freehold and were
revalued on 31 July 2006 by Dunlop Haywards (Property Consultants).
2006 2005
£’000 £’000
The net book value of the Land and Buildings can be analysed as:-
2006 Valuation Market Value 14,102 -
2006 Valuation Depreciated Replacement Cost 137,941 -
2004 Valuation Market Value - 6,922
2001 Valuation Depreciated Replacement Cost - 83,186
2001 Valuation Market Value - 2,400
Historical Cost (Including Assets in the Course of Construction) 552 31,554
152,595 124,062
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