Cohesive Consistent Confident

Henry Boot PLC
Annual Report and Financial Statements for the year ended 31 December 2015
www.henryboot.co.uk
Stock Code: BHY
12. Property, plant and equipment
Group
Land and
buildings
£’000
Equipment
held
for hire
£’000
Vehicles
£’000
Office
equipment
£’000
Cost or fair value
At 1 January 2014 7,187 25,918 4,601 2,192 39,898
Additions at cost — 3,670 1,018 686 5,374
Disposals — (2,098) (725) (328) (3,151)
At 31 December 2014 7,187 27,490 4,894 2,550 42,121
Additions at cost — 4,057 1,203 528 5,788
Disposals — (1,011) (1,141) (1) (2,153)
Increase in fair value in year 100 — — — 100
At 31 December 2015 7,287 30,536 4,956 3,077 45,856
Being:
Cost — 30,536 4,956 3,077 38,569
Fair value at 31 December 2015 7,287 — — — 7,287
7,287 30,536 4,956 3,077 45,856
Accumulated depreciation and impairment
At 1 January 2014 412 17,945 2,495 1,692 22,544
Charge for year — 2,360 691 248 3,299
Eliminated on disposals — (1,882) (607) (319) (2,808)
At 31 December 2014 412 18,423 2,579 1,621 23,035
Charge for year — 2,562 712 363 3,637
Eliminated on disposals — (875) (914) (1) (1,790)
Eliminated on revaluation (10) — — — (10)
At 31 December 2015 402 20,110 2,377 1,983 24,872
Carrying amount
At 31 December 2015 6,885 10,426 2,579 1,094 20,984
At 31 December 2014 6,775 9,067 2,315 929 19,086
At 1 January 2014 6,775 7,973 2,106 500 17,354
At 31 December 2015, the Group had entered into contractual commitments for the acquisition of property, plant and equipment
amounting to £3,521,000 (2014: £2,713,000).
Fair value measurements of the Group’s land and buildings
Land and buildings have been revalued at 31 December 2015 by Jones Lang LaSalle Limited in accordance with the Practice
Statements contained in the RICS Appraisal and Valuation Standards on the basis of market value at £6,885,000 (2014:
£6,775,000). Jones Lang LaSalle Limited is a professional valuer who holds recognised and professional qualifications and has
recent experience in the location and category of the land and buildings being valued.
The valuation conforms to International Valuation Standards and was based on recent market transactions with similar
characteristics and location using the yield method valuation technique. The yield method of valuation involves applying marketderived
capitalisation yields, and the actual or market-derived future income streams where appropriate, with adjustments for letting
voids or rent-free periods as applicable to each item of land and buildings.
On the historical cost basis, the land and buildings would have been included at a carrying amount of £2,869,000 (2014:
£2,859,000).
Total
£’000
Shareholder Information Financial Statements
Governance
Strategic Report
Overview
107