Annual Report and Accounts 2007/8 - Cancer Research UK
Annual Report and Accounts 2007/8 - Cancer Research UK Annual Report and Accounts 2007/8 - Cancer Research UK
36Notes to the Accounts (continued)12. Tangible fixed assets (continued)b) CharityFreehold Leasehold Freehold & Plant, Assets in the Shop Totalland & properties leasehold equipment, course of leases,buildings improvements fixtures construction fixtures& fittings& fittings£000 £000 £000 £000 £000 £000 £000CostAt 1 April 2007 40,073 15,481 14,863 94,043 5,662 8,549 178,671Additions - - 817 9,774 16,907 596 28,094Transfers - - - 1,151 (1,151) - -Disposals - (1,701) (365) (8,484) - (2) (10,552)At 31 March 2008 40,073 13,780 15,315 96,484 21,418 9,143 196,213DepreciationAt 1 April 2007 16,405 1,711 11,077 70,890 - 6,294 106,377Charge for the year 1,015 700 777 6,828 - 921 10,241Disposals - (1,540) (116) (7,850) - - (9,506)At 31 March 2008 17,420 871 11,738 69,868 - 7,215 107,112Net Book ValuesAt 1 April 2007 23,668 13,770 3,786 23,153 5,662 2,255 72,294At 31 March 2008 22,653 12,909 3,577 26,616 21,418 1,928 89,101The Group has freehold property with a net book value of £22,653,000 (2007: £23,668,000). Having discussed the matterwith a firm of chartered surveyors, the Trustees are of the opinion that both the aggregate existing use value and theaggregate market value of the tangible fixed asset properties are in excess of £100 million.The Group and Charity assets in course of construction include £10,765,000 in respect of the Poplar Block researchbuilding and £5,104,000 for a new Biotherapeutics Development Unit at Clare Hall.
37 Cancer Research UK Annual Report and Accounts 2007/0813. InvestmentsGroup Group Charity Charity2008 2007 2008 2007£000 £000 £000 £000At market valueUK listed equity investments 61,811 115,979 56,096 107,167UK fixed and variable interest stocks 65,127 79,474 63,418 77,636UK cash investments 8,827 10,711 7,431 9,831UK property fund* 22,620 26,513 22,620 26,512UK investment properties 647 1,502 647 1,501Investments in UK unlisted companies 385 390 - -Total UK investments 159,417 234,569 150,212 222,647Overseas fixed and variable interest stocks 3,368 1,217 2,307 386Overseas listed equity investments 66,157 53,580 65,868 53,385Total overseas investments 69,525 54,797 68,175 53,771Total investments 228,942 289,366 218,387 276,418*This single investment represents 5% or more of the portfolio by market value in both the Group and Charity.2008 2008£000 £000At 1 April 2007 289,366 276,418Additions 345,706 343,735Disposal proceeds (379,777) (376,744)Net realised investment gains 9,064 8,475Net unrealised investment losses (35,288) (32,844)Net movement in cash (129) (653)At 31 March 2008 228,942 218,387The historical cost of Group and Charity investments at 31 March 2008 was £235,866,000 (2007: £260,678,000) and£226,441,000 (2007: £250,848,000) respectively.Investment properties consist of land and property bequeathed to the Charity and its predecessor charities.The intentionof the Trustees is to realise these investments at a time that will maximise their value to the Charity. In view of the level ofinvestment properties held, separate details of each valuation are not reported.GroupCharity
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36Notes to the <strong>Accounts</strong> (continued)12. Tangible fixed assets (continued)b) CharityFreehold Leasehold Freehold & Plant, Assets in the Shop Totall<strong>and</strong> & properties leasehold equipment, course of leases,buildings improvements fixtures construction fixtures& fittings& fittings£000 £000 £000 £000 £000 £000 £000CostAt 1 April <strong>2007</strong> 40,073 15,481 14,863 94,043 5,662 8,549 178,671Additions - - 817 9,774 16,907 596 28,094Transfers - - - 1,151 (1,151) - -Disposals - (1,701) (365) (8,484) - (2) (10,552)At 31 March 2008 40,073 13,780 15,315 96,484 21,418 9,143 196,213DepreciationAt 1 April <strong>2007</strong> 16,405 1,711 11,077 70,890 - 6,294 106,377Charge for the year 1,015 700 777 6,828 - 921 10,241Disposals - (1,540) (116) (7,850) - - (9,506)At 31 March 2008 17,420 871 11,738 69,868 - 7,215 107,112Net Book ValuesAt 1 April <strong>2007</strong> 23,668 13,770 3,786 23,153 5,662 2,255 72,294At 31 March 2008 22,653 12,909 3,577 26,616 21,418 1,928 89,101The Group has freehold property with a net book value of £22,653,000 (<strong>2007</strong>: £23,668,000). Having discussed the matterwith a firm of chartered surveyors, the Trustees are of the opinion that both the aggregate existing use value <strong>and</strong> theaggregate market value of the tangible fixed asset properties are in excess of £100 million.The Group <strong>and</strong> Charity assets in course of construction include £10,765,000 in respect of the Poplar Block researchbuilding <strong>and</strong> £5,104,000 for a new Biotherapeutics Development Unit at Clare Hall.
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