GPG Report & Accounts 2003 - Guinness Peat Group plc

30 • GUINNESS PEAT GROUP PLC • ANNUAL REPORTNotes to Financial Statements – continued13. Profits of Holding CompanyA loss of £8,641,000 (6 months to 31 December 2002: loss of £10,153,000) has been dealt with in the accounts of the Company.As permitted by Section 230 of the Companies Act 1985, the Company has not published a separate profit and loss account inthese financial statements.14. Intangible Fixed AssetsPositive Negative Net negativegoodwill goodwill goodwillCOST£000 £000 £000At 1 January 2003 79 (11,939) (11,860)Currency translation differences (11) (36) (47)Additions (note 32) 138 – 138Fair value adjustments for prior year acquisitions (notes 32 b,c) 1,173 – 1,173AT 31 DECEMBER 2003 1,379 (11,975) (10,596)CUMULATIVE AMOUNTS (CHARGED)/RELEASEDAt 1 January 2003 – 1,126 1,126Currency translation differences – 7 7(Charge)/release for the year (17) 1,197 1,180AT 31 DECEMBER 2003 (17) 2,330 2,313NET BOOK VALUE AT 31 DECEMBER 2003 1,362 (9,645) (8,283)NET BOOK VALUE AT 31 DECEMBER 2002 79 (10,813) (10,734)NoteNegative goodwill is being released to the profit and loss account over periods between 5 and 10 years. Positive goodwill is all beingamortised over 10 years.15. Tangible Fixed AssetsThe GroupCOSTVehiclesLand and Mineral Plant and and office Land forbuildings rights equipment equipment development Total£000 £000 £000 £000 £000 £000At 1 January 2003 45,925 587 73,950 30,091 786 151,339Currency translation differences 4,703 – 3,942 2,331 160 11,136Acquisition of subsidiaries (note 32) – – 214 (1,173) – (959)Additions 3,870 – 3,117 1,852 18,971 27,810Transfer to current assets – – – – (14,883) (14,883)Reclassifications 73 – (2,067) 1,975 19 –Disposals (926) – (2,354) (836) (2,370) (6,486)Disposal of business (note 34) (142) – (6,317) (1,046) – (7,505)AT 31 DECEMBER 2003 53,503 587 70,485 33,194 2,683 160,452ACCUMULATED DEPRECIATIONAt 1 January 2003 6,034 2 49,178 21,776 – 76,990Currency translation differences 268 – 2,670 1,804 – 4,742Acquisition of subsidiaries (note 32) – – – – – –Charge for the year 2,093 – 5,539 2,791 – 10,423Reclassifications 93 – (1,727) 1,634 – –Disposals (689) – (2,209) (719) – (3,617)Disposal of business (note 34) (51) – (4,509) (633) – (5,193)AT 31 DECEMBER 2003 7,748 2 48,942 26,653 – 83,345NET BOOK VALUE AT 31 DECEMBER 2003 45,755 585 21,543 6,541 2,683 77,107NET BOOK VALUE AT 31 DECEMBER 2002 39,891 585 24,772 8,315 786 74,349