measure and monitor the processes and report results ... - Refresco.de

Financial review 2010
The current fair market value of property, plant and equipment
is not materially different from the net book value.
Assets under constructions of EUR 38,727,000 includes
EUR 13,678,000 which needs to be reclassified to ‘Land and
buildings’, ‘Machinery and equipment’ and ‘Other fixed assets’
which will be done in 2011.
For all acquisitions after 2006, property, plant and equipment
was re­stated to fair market value based on valuation reports,
and the depreciation terms have been brought in line with the
company’s policies.
Impairment losses
In 2009, the impairments recognized were related to property,
plant and equipment in Germany, Poland and Spain. In 2010 no
impairments were recognized.
Financial leases
The Group leases a warehouse and production equipment
under a number of finance lease agreements secured on the
underlying leased assets (see note 4.10).
At December 31, 2010, the carrying amount of leased plant and
machinery was EUR 13,854,000 (2009: EUR 14,104,000).
Security
Securities for the redemption of amounts payable to banks
have been given as follows:
•
•
First priority mortgage on the real estate in
The Netherlands and Germany.
Pledge of all property, plant and equipment.
Property, plant and equipment under construction
Property, plant and equipment under construction relates
mainly to expansion of production and warehouse facilities
in the Netherlands, France, the UK and Germany.
After construction is complete, the assets are reclassified to
the applicable property, plant and equipment category.