FSA Annual Report 2006/07 - Better Regulation Ltd

84
Section five – Financial statements
FSA Annual Report 2006/07
10. Property, plant and equipment
Leasehold Computer Furniture and
improvements equipment equipment Total
£m £m £m £m
Cost
At 1 April 2005 19.8 36.8 10.7 67.3
Additions 0.1 5.2 0.8 6.1
Disposals – (0.4) – (0.4)
At 1 April 2006 19.9 41.6 11.5 73.0
Additions 0.9 6.8 0.2 7.9
Disposals – (0.3) (0.2) (0.5)
At 31 March 2007 20.8 48.1 11.5 80.4
Accumulated depreciation and impairment
At 1 April 2005 11.9 25.6 7.7 45.2
Charge for year 2.0 6.0 0.7 8.7
Disposals – (0.4) – (0.4)
At 1 April 2006 13.9 31.2 8.4 53.5
Charge for year 2.3 5.9 0.9 9.1
Disposals – (0.2) (0.2) (0.4)
At 31 March 2007 16.2 36.9 9.1 62.2
Carrying amount
At 31 March 2007 4.6 11.2 2.4 18.2
At 31 March 2006 6.0 10.4 3.1 19.5
The FSA has reviewed the residual values used for the purposes of
depreciation calculations. The review did not identify any requirement for
adjustment to the residual values used in the current or prior periods.
Residual values will be reviewed and updated annually.
11. Other financial assets
Trade and other receivables
2007 2006
£m £m
Fee receivables 2.4 2.7
Other debtors 0.9 0.9
Prepayments and accrued income 7.3 6.3
10.6 9.9
The average credit period taken is 50 days (2006: 50 days). A late penalty fee
of £250 is payable on periodic fees not paid by the due date. If payment is
not received within 15 days of the due date interest is charged on the
outstanding balance at Bank of England Repo rate plus 5%.