Annual report & review 2006 - Shopic.com

Summary financial statements
8 Tangible assets – movement summary
Land and Shop Plant, Motor Total
buildings Properties machinery and vehicles
equipment
€m €m €m €m €m
Net book amount at beginning of year 144.4 104.7 69.1 9.6 327.8
Additions in year 11.1 8.2 12.1 5.6 37.0
Disposals in year (2.7) (48.7) (0.9) (0.2) (52.5)
Depreciation and impairment charge (2.3) (24.2) (15.2) (1.9) (43.6)
Translation and other adjustments 0.2 1.5 0.3 – 2.0
Net book amount at end of year 150.7 41.5 65.4 13.1 270.7
The estimated useful lives of tangible assets by reference to which depreciation is calculated are as follows:
Buildings and shop properties
Plant, machinery and equipment
Motor vehicles
25 to 50 years
3 to 10 years
4 to 5 years
The net book value of land and buildings at 31 December 2006 of €150.7 million represents assets stated at valuation of
€127.3 million, assets stated at cost of €28.8 million less accumulated depreciation of €5.4 million.
9 Financial assets – movement summary
U unlisted Shop Total
securities
investments
€m €m €m
Net book amount at beginning of year 3.7 12.8 16.5
Additions in year – 5.0 5.0
Disposals in year (3.7) (1.2) (4.9)
Transfer to current investments – (1.5) (1.5)
Provisions for impairment – (1.4) (1.4)
Translation and other adjustments – 0.3 0.3
Net book amount at end of year – 14.0 14.0
Shop investments relate to retail properties purchased by the Group. They are acquired solely for the purpose of expanding the
Group’s network of retail stores and it is intended that the properties will be sold to entrepreneurial food retailers.
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Musgrave Group Plc Annual Report & Review 2006