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Notes to the accounts
11 Tangible fixed assets
44 J Sainsbury plc Annual report and accounts 1999
Group Company
Fixtures,
equipment
Properties & vehicles Total Properties Total
£m £m £m £m £m
Cost or valuation
At 8 March 1998 5,552 2,974 8,526 229 229
Additions (see below) 391 381 772 – –
Disposals (124) (53) (177) – –
Exchange adjustments 12 4 16 – –
At 3 April 1999 5,831 3,306 9,137 229 229
Depreciation
At 8 March 1998 752 1,641 2,393 1 1
Provided in the period 90 298 388 2 2
Disposals (16) (44) (60) – –
Exchange adjustments 4 3 7 – –
At 3 April 1999 830 1,898 2,728 3 3
Net book value
At 3 April 1999 5,001 1,408 6,409 226 226
At 7 March 1998 4,800 1,333 6,133 228 228
Capital work-in-progress included above
At 3 April 1999 76 61 137 – –
At 7 March 1998 103 44 147 – –
The new accounting standard FRS15, Tangible Fixed Assets, has been adopted for the accounts for the 56 weeks ended 3 April 1999.
Interest has been capitalised during the period on a gross basis. In previous years, interest has been capitalised after deducting tax relief.
Prior year amounts capitalised have not been restated.
The amount included in the additions of £772 million in respect of interest capitalised during the period ended 3 April 1999 amounted
to £12 million. Accumulated interest capitalised included in the cost or valuation total above amounts to £242 million (1998: £230 million)
for the Group and £nil (1998: £nil) for the Company.
Analysis of finance leases – Group
1999 1998
Fixtures, Fixtures,
equipment equipment
Properties & vehicles Total Properties & vehicles Total
£m £m £m £m £m £m
Cost 116 25 141 117 25 142
Depreciation 31 23 54 32 22 54
Net book value 85 2 87 85 3 88