Annual report and accounts 2009 (PDF) - Coventry Building Society

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NOTES TO THE ACCOUNTS(continued)25. PROPERTY, PLANT AND EQUIPMENT (continued)Land and buildingsEquipment,fixtures,Group and Society Long Short fittings &Freehold leasehold leasehold vehicles Total£m £m £m £m £mCostAt 1 January 2008 7.1 3.5 3.2 71.6 85.4Additions - - - 5.7 5.7Disposals - - - (38.2) (38.2)At 31 December 2008 7.1 3.5 3.2 39.1 52.9DepreciationAt 1 January 2008 0.9 0.2 1.9 57.9 60.9Charge for the year 0.1 - 0.1 3.6 3.8Depreciation on disposals - - - (38.0) (38.0)At 31 December 2008 1.0 0.2 2.0 23.5 26.7Net book value at 31 December 2008 6.1 3.3 1.2 15.6 26.2Included within freehold property are two properties held for investment purposes. The net book value of these properties is £0.6million (2008 - £0.6 million).Equipment, fixtures, fittings and vehicles includes assets heldunder finance leases as follows: 2009 2008Group and Society £m £mNet book value 0.9 0.9Accumulated depreciation 0.6 0.5The net book value of land and buildings occupied by the Society for its own activities is as follows:Group and SocietyAt 31 December 9.6 9.758
26. DEFERRED TAXDeferred tax assets and liabilities are attributable to the following items:Group Society Group Society2009 2009 2008 2008£m £m £m £mDeferred tax assetsMortgage book impairment and other provisions 0.4 0.4 1.3 1.3Pension scheme benefit from special contribution - - 0.6 0.6Transitional fair value adjustments 1.6 1.6 1.9 1.9Excess of depreciation over capital allowances 0.1 - - -2.1 2.0 3.8 3.8Deferred tax liabilitiesExcess of capital allowances over depreciation 1.0 1.0 0.6 0.5Transitional fair value adjustments 2.4 2.4 3.0 3.0Tax on defined benefit pension plan surplus 1.9 1.9 1.6 1.65.3 5.3 5.2 5.127. SHARESHeld by individuals 13,210.3 13,210.3 12,345.9 12,345.9Other shares 7.9 7.9 8.6 8.6Hedge accounting adjustment 0.6 0.6 31.6 31.6Shares are repayable from the balance sheet date in the ordinary course of business as follows:13,218.8 13,218.8 12,386.1 12,386.1Accrued interest 111.3 111.3 222.9 222.9Repayable on demand 12,724.1 12,724.1 12,163.2 12,163.2Shares with residual maturity repayable:In more than one year but not more than five years 383.4 383.4 - -13,218.8 13,218.8 12,386.1 12,386.128. DEPOSITS FROM BANKSDeposits from banks are repayable from the balance sheet date in the ordinary course of business as follows:Accrued interest 0.7 0.7 19.3 19.3Repayable on demand 38.1 38.1 0.8 0.8Other amounts owed to banks with residual maturity repayable:In not more than three months 969.6 969.6 1,288.7 1,288.7In more than three months but not more than one year - - 0.7 0.7In more than one year but not more than five years 361.9 361.9 369.8 369.81,370.3 1,370.3 1,679.3 1,679.3Deposits from banks include £1,327 million (2008 – £1,608 million) in respect of sale and repurchase agreements.59
Page 1 and 2:
ANNUAL REPORT & ACCOUNTS 2009
Page 3:
ChairmanDavid HardingDeputy Chairma
Page 11 and 12: DIRECTORS’ REPORTBUSINESS OBJECTI
Page 13 and 14: Financial performanceThe Society ac
Page 15 and 16: ASSETSThe assets of the Group incre
Page 17 and 18: KEY PERFORMANCE INDICATORSNET MORTG
Page 19 and 20: Remuneration CommitteeConsisting of
Page 21 and 22: RISK MANAGEMENT REPORTPRINCIPAL RIS
Page 23 and 24: CORPORATE GOVERNANCEThe board is ac
Page 25 and 26: APPOINTMENTS TO THE BOARDThe appoin
Page 27 and 28: DIRECTORS’ REMUNERATION REPORTINT
Page 29 and 30: STATEMENT OF DIRECTORS’RESPONSIBI
Page 31 and 32: OPINIONIn our opinion:the Annual Ac
Page 33 and 34: BALANCE SHEETSas at 31 December 200
Page 35 and 36: CASH FLOW STATEMENTSfor the year en
Page 37 and 38: Improvements to IFRSThe improvement
Page 39 and 40: FINANCIAL LIABILITIESFinancial liab
Page 41 and 42: PENSION COSTSThe Society operates b
Page 43 and 44: Loan impairment and other provision
Page 45 and 46: 7. OTHER OPERATING INCOMEGroup Soci
Page 47 and 48: 11. DIRECTORS’ EMOLUMENTS (contin
Page 49 and 50: 12. PENSION SCHEME (continued)2009
Page 51 and 52: 13. IMPAIRMENT PROVISIONS ON LOANS
Page 53 and 54: 14. PROVISION FOR FSCS LEVIESAll de
Page 55 and 56: 20. DEBT SECURITIESGroup Society Gr
Page 57 and 58: 21. DERIVATIVES AND OTHER FINANCIAL
Page 59: 24. INTANGIBLE FIXED ASSETSGroup So
Page 63 and 64: 32. OTHER LIABILITIESGroup Society
Page 65 and 66: 38. FINANCIAL COMMITMENTSGroup Soci
Page 67 and 68: 40. FINANCIAL INSTRUMENTS (continue
Page 75 and 76: 41. RELATED PARTY TRANSACTIONSULTIM
Page 77 and 78: 42. NOTES TO THE CASH FLOW STATEMEN
Page 79 and 80: 2. OTHER PERCENTAGES2009 2008% %As
Page 81 and 82: 3. INFORMATION RELATING TO DIRECTOR
Page 84: www.thecoventry.co.ukCoventry Build
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