National Express Annual Reports and Accounts 2011

Annual Report and Accounts 2011

Note 15

Property, plant and equipment

Freehold land
and buildings
£m
Long leasehold property improvements
£m
Public service vehicles
£m
Plant and equipment, fixtures
and fittings
£m
Total
£m
Cost:
At 1 January 2011 95.2 3.7 906.8 165.7 1,171.4
Additions 1.9 0.5 139.7 14.7 156.8
Acquisitions of businesses 1.5 1.5
Disposals (15.2) (5.4) (20.6)
Foreign exchange (2.0) (7.3) (1.4) (10.7)
At 31 December 2011 95.1 4.2 1,025.5 173.6 1,298.4
Depreciation:
At 1 January 2011 11.2 1.6 327.9 116.6 457.3
Charge for the year 1.9 0.5 86.7 16.4 105.5
Disposals (10.7) (4.7) (15.4)
Foreign exchange (0.1) (0.1) (2.6) (0.7) (3.5)
At 31 December 2011 13.0 2.0 401.3 127.6 543.9
Net book value:
At 31 December 2011 82.1 2.2 624.2 46.0 754.5
At 1 January 2011 84.0 2.1 578.9 49.1 714.1
Freehold land
and buildings
£m
Long leasehold property improvements
£m
Public service vehicles
£m
Plant and equipment, fixtures
and fittings
£m
Total
£m
Cost:
At 1 January 2010 95.5 4.4 816.9 158.6 1,075.4
Additions 3.2 0.6 131.8 15.2 150.8
Acquisitions of businesses 2.4 2.4
Disposals (1.4) (1.5) (56.4) (8.6) (67.9)
Foreign exchange (2.1) 0.2 12.1 0.5 10.7
At 31 December 2010 95.2 3.7 906.8 165.7 1,171.4
Depreciation:
At 1 January 2010 11.0 2.5 286.6 102.7 402.8
Charge for the year 1.8 0.5 79.5 18.0 99.8
Disposals (1.6) (1.5) (45.6) (4.2) (52.9)
Foreign exchange 0.1 7.4 0.1 7.6
At 31 December 2010 11.2 1.6 327.9 116.6 457.3
Net book value:
At 31 December 2010 84.0 2.1 578.9 49.1 714.1
At 1 January 2010 84.5 1.9 530.3 55.9 672.6

Property, plant and equipment held under finance lease agreements are analysed as follows:

2011
£m
2010
£m
Land and buildings – cost 1.4 1.5
– depreciation (0.1) (0.1)
Net land and buildings 1.3 1.4
Public service vehicles – cost 245.6 215.1
– depreciation (61.5) (54.0)
Net public service vehicles 184.1 161.1
Plant and equipment – cost 0.9 1.3
– depreciation (0.8) (1.2)
Net plant and equipment 0.1 0.1
Total net book value 185.5 162.6

Finance leased assets and assets under hire purchase contracts are pledged as security for the related finance lease and hire purchase liabilities.