PORT OF TYNE ANNUAL REPORT AND ACCOUNTS 2011

32/ANNUAL REPORT AND ACCOUNTS 2011
NOTES TO THE FINANCIAL STATEMENTS/33
8. TANGIBLE FIXED ASSETS
CONTINUED...
Included within land and buildings is an
amount of £1,620,640 (2010 – £1,368,000)
relating to land which is not depreciated.
Freehold land and buildings (other than
investment properties), which include owner
occupied property assets and specialised
marine assets, are held at historic cost.
9. FIXED ASSET INVESTMENTs
Investment properties, which are all
freehold, continue to be valued on an
open market existing use basis and
a full revaluation was performed as at
31 December 2011 by CB Richard Ellis.
The net book value of revalued assets
can be analysed as follows:
Investment properties 2011
(£000’s)
The undertakings in which the group’s
interest at the year end is more than 20%
are as follows:
2010
(£000’s)
At historical cost basis 19,286 19,286
Surplus on revaluation 28,712 27,879
Net book value 47,998 47,165
Authority
Shares in group undertakings
(£000’s)
Cost:
At beginning and end of year 1,280
Subsidiary undertakings
Country of
Incorporation
Principal
activity
Ord. shares
held by Group
(%)
Ord. shares
held by
Authority (%)
Port of Tyne Distribution Limited UK Distribution 100% 100%
Port of Tyne Logistics Limited UK Dormant 100% 100%
North East Ports Limited UK Dormant 100% 100%
Port of Tyne Plc UK Dormant 100% 100%
Tyne Logistics Company Limited UK Container
handling
100% 100%
10. STOCKS
11. DEBTORS
12. INVESTMENTS
(HELD AS CURRENT ASSETS)
Group
2011
(£000’s)
Group
2010
(£000’s)
Authority
2011
(£000’s)
Authority
2010
(£000’s)
Raw materials and consumables 261 300 261 300
Group
2011
(£000’s)
Group
2011
(£000’s)
Group
2010
(£000’s)
Group
2010
(£000’s)
Authority
2011
(£000’s)
Authority
2011
(£000’s)
Authority
2010
(£000’s)
Trade debtors 12,813 13,051 10,161 10,716
Amounts owed by group undertakings — — 242 —
Other debtors 1,148 1,939 1,144 1,914
Taxation 102 — 96 —
Prepayments and accrued income 512 449 304 234
Corporation tax — — — —
At 31 December 2011 other debtors in
both the Group and the Authority include
£421,000 in respect of capital contributions
which fall due after more than one year
(2010 – £1,074,000).
14,575 15,439 11,947 12,864
Authority
2010
(£000’s)
Investments — 25 — 25
The Port of Tyne holds a £25k bond issued
by Allia. Interest earned from the bond
is utilised by a charitable organisation,
North East Enterprise Bond (NEEB), to
assist towards the regeneration of North
East England.
The bond falls due for repayment from
Allia to the Port of Tyne in 2017. In 2010,
this bond was shown separately as an
investment. From 2011, this bond has
been included within other debtors.