Financial Statements 2011 - Royal Holloway, University of London

Notes to the Financial Statements(continued)13 Tangible Assets (continued)FurnitureLand and BuildingsandFreehold Short Lease Fittings Equipment TotalbCollege£000 £000 £000 £000 £000At 1 August 2010Valuation 60,170 1,800 795 - 62,765Cost 110,017 2,899 13,451 21,264 147,631170,187 4,699 14,246 21,264 210,396Additions at cost 6,095 28 1,460 2,568 10,151Disposals - - - (83) (83)At 31 July 2011Valuation 60,170 1,800 795 - 62,765Cost 116,112 2,927 14,911 23,749 157,699176,282 4,727 15,706 23,749 220,464DepreciationAt 1 August 2010 44,566 965 6,815 15,741 68,087Charge for year 7,437 258 1,215 2,552 11,462Eliminated on disposals - - - (58) (58)At 31 July 2011 52,003 1,223 8,030 18,235 79,491Net Book ValueAt 31 July 2011 124,279 3,504 7,676 5,514 140,973At 1 August 2010 125,621 3,734 7,431 5,523 142,309cConsolidated and CollegeAt 31 July 2011 freehold land and buildings at cost included £2,879k (2010 £2,178k) in respect of assets in the course ofconstruction, primarily the extension to the School of Management, refurbishment of the Students’ Union and fire protectionupgrade.At 31 July 2011 freehold land and buildings at cost included £1,320k of capitalised finance costs (2010 £1,320k).Heritage AssetsThe College does not have any material heritage assets to disclose as tangible assets.The College’s Picture Collection which is displayed in the Picture Gallery contributes to the appeal of the venue for functionsand tours. The Collection was left to the College by its Founder, Thomas Holloway, and is disclosed as an endowment asset(note 14).27