Annual Report 2012 - Cadogan

NOTES ON THE FINANCIAL STATEMENTS 31 DECEMBER 2012
12 tangible Fixed assets
Group
Cost or valuation
At 1 January 2012
Transfers
Revaluation
Additions
Acquired with subsidiary
Disposals
Write back of impairment losses
at 31 December 2012
Freehold Freehold
investment land and total Plant and
properties buildings properties equipment total
£000 £000 £000 £000 £000
3,405,653 49,425 3,455,078 9,402 3,464,480
(1,600) 1,600 – – –
313,693 564 314,257 – 314,257
143,890 – 143,890 1,297 145,187
– 31,901 31,901 1,044 32,945
(73,852) – (73,852) – (73,852)
3,919 – 3,919 – 3,919
3,791,703 83,490 3,875,193 11,743 3,886,936
Depreciation
At 1 January 2012
Charge for the year
Disposals
at 31 December 2012
– – – 6,372 6,372
– – – 2,050 2,050
– – – – –
– – – 8,422 8,422
net Book Value
at 31 December 2012
At 31 December 2011
3,791,703 83,490 3,875,193 3,321 3,878,514
3,405,653 49,425 3,455,078 3,030 3,458,108
The valuation of the group’s freehold
properties at 31 December 2012 was
carried out by Chapman Petrie (commercial
properties) and Cluttons (residential
properties), both firms of chartered
surveyors, on the basis of market value,
in accordance with the Appraisal and
Valuation Manual of the Royal Institution
of Chartered Surveyors.
The historical cost of freehold properties
at 31 December 2012 was £1,464,950,000
(2011 –£1,287,043,000). These amounts
are stated after the deduction of
accumulated impairment losses of
£2,611,000 (2011 –£6,530,000).
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