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BAKKAVOR ANNUAL REPORT AND ACCOUNTS 2012
notes to the consolidated financial statements
continued
17
PROPERTY, PLANT AND EQUIPMENT
Land Plant Fixtures
and and and
£m buildings machinery equipment Total
Cost
At 1 January 2011 196.7 261.1 67.4 525.2
Additions 2.9 31.9 1.7 36.5
Acquisition of subsidiary (note 32) – – 0.2 0.2
Disposal of subsidiary (note 31) (2.0) – (2.2) (4.2)
Disposals – (7.9) (0.4) (8.3)
Reclassification from assets held for sale 6.1 – – 6.1
Exchange differences (0.5) (1.2) (0.4) (2.1)
At 31 December 2011 203.2 283.9 66.3 553.4
Additions 5.0 24.2 2.6 31.8
Disposal of subsidiary (note 31) (1.7) (0.8) (0.2) (2.7)
Disposals (7.2) (4.3) (1.8) (13.3)
Transfer to assets held for sale (13.1) (20.5) (17.4) (51.0)
Exchange differences (1.2) (2.0) 0.2 (3.0)
At 29 December 2012 185.0 280.5 49.7 515.2
Accumulated depreciation and impairment
At 1 January 2011 (78.9) (104.7) (27.0) (210.6)
Charge for the period (8.1) (28.3) (7.5) (43.9)
Disposals of subsidiary (note 31) 0.3 – 0.9 1.2
Disposals – 7.6 0.3 7.9
Impairment of assets (0.7) (0.8) (0.2) (1.7)
Exchange differences 0.3 0.8 0.3 1.4
At 31 December 2011 (87.1) (125.4) (33.2) (245.7)
Charge for the period (7.9) (28.0) (6.7) (42.6)
Disposals of subsidiary (note 31) 0.7 0.4 0.1 1.2
Disposals 2.7 4.2 1.8 8.7
Impairment of assets – (0.9) (0.1) (1.0)
Transfer to assets held for sale 5.8 14.3 10.4 30.5
Exchange differences 0.6 1.1 (0.1) 1.6
At 29 December 2012 (85.2) (134.3) (27.8) (247.3)
Carrying amount
At 29 December 2012 99.8 146.2 21.9 267.9
At 31 December 2011 116.1 158.5 33.1 307.7
During the period, the Group has expanded its disclosure of property, plant and equipment to include plant and machinery as a separate category.
The Group believes this better represents the categories of assets held by the Group and as a result the prior period disclosure has been revised to
reflect this change.
The carrying value of the Group’s fixtures and equipment includes an amount of £0.5 million (2011: £4.2 million) in respect of assets held under
finance leases.
At 29 December 2012, the Group had entered into contractual commitments for the acquisition of property, plant and equipment amounting to
£3.2 million (2011: £3.4 million).
During the period, the Group impaired property, plant and equipment by £1.0 million (2011: £1.7 million, UK Produce), within continuing operations in
its UK businesses.
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