confidence - Investing In Africa

Financial StatementsNotes to the Accounts for the year ended 30 June 2005 (cont’d)8. TANGIBLE FIXED ASSETS (cont’d)BANK Freehold OtherLand and Leasehold Tangible MotorBuildings Buildings Fixed Assets Vehicles TotalMRs' 000 MRs' 000 MRs' 000 MRs' 000 MRs' 000Cost or ValuationAt 1 July 2004 332,701 616,902 2,040,530 13,714 3,003,847Exchange Difference 12,832 - 2,332 79 15,243Revaluation 210,352 919,762 - - 1,130,114Additions 797 - 61,006 4,136 65,939Disposals -) -) (3,939) (2,854) (6,793)At 30 June 2005 556,682 1,536,664 2,099,929 15,075 4,208,350Accumulated DepreciationAt 1 July 2004 42,949 104,508 1,149,117 7,718 1,304,292Exchange Difference 2,561 - 2,107 72 4,740Revaluation (48,021) (104,508) -) -) (152,529)Disposals -) -) (3,894) (2,760) (6,654)Charge for the Year 8,383 38,120 192,526 2,151 241,180At 30 June 2005 5,872 38,120 1,339,856 7,181 1,391,029Net Book ValueAt 30 June 2005 550,810 1,498,544 760,073 7,894 2,817,321Progress Payments on Tangible Fixed Assets 141,8252,959,146At 30 June 2004 289,752 512,394 891,413 5,996 1,699,555Progress Payments on Tangible Fixed Assets 55,2501,754,805At 30 June 2003 291,525 492,539 899,450 1,885 1,685,399Progress Payments on Tangible Fixed Assets 147,1641,832,563Other tangible fixed assets include plant, machinery, fixtures, fittings and computer equipment.For both the Group and the Bank, the net book value of assets held under finance leases is as follows:GROUP AND BANK2005 2004 2003MRs'000 MRs'000 MRs'00045Computer Equipment 653,109 759,421 726,643Plant & Machinery 5,884 4,254 14,428Motor Vehicles 243 453 866659,236 764,128 741,937