FSA Annual Report 2006/07 - Better Regulation Ltd
FSA Annual Report 2006/07 - Better Regulation Ltd
FSA Annual Report 2006/07 - Better Regulation Ltd
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84<br />
Section five – Financial statements<br />
<strong>FSA</strong> <strong>Annual</strong> <strong>Report</strong> <strong>2006</strong>/<strong>07</strong><br />
10. Property, plant and equipment<br />
Leasehold Computer Furniture and<br />
improvements equipment equipment Total<br />
£m £m £m £m<br />
Cost<br />
At 1 April 2005 19.8 36.8 10.7 67.3<br />
Additions 0.1 5.2 0.8 6.1<br />
Disposals – (0.4) – (0.4)<br />
At 1 April <strong>2006</strong> 19.9 41.6 11.5 73.0<br />
Additions 0.9 6.8 0.2 7.9<br />
Disposals – (0.3) (0.2) (0.5)<br />
At 31 March 20<strong>07</strong> 20.8 48.1 11.5 80.4<br />
Accumulated depreciation and impairment<br />
At 1 April 2005 11.9 25.6 7.7 45.2<br />
Charge for year 2.0 6.0 0.7 8.7<br />
Disposals – (0.4) – (0.4)<br />
At 1 April <strong>2006</strong> 13.9 31.2 8.4 53.5<br />
Charge for year 2.3 5.9 0.9 9.1<br />
Disposals – (0.2) (0.2) (0.4)<br />
At 31 March 20<strong>07</strong> 16.2 36.9 9.1 62.2<br />
Carrying amount<br />
At 31 March 20<strong>07</strong> 4.6 11.2 2.4 18.2<br />
At 31 March <strong>2006</strong> 6.0 10.4 3.1 19.5<br />
The <strong>FSA</strong> has reviewed the residual values used for the purposes of<br />
depreciation calculations. The review did not identify any requirement for<br />
adjustment to the residual values used in the current or prior periods.<br />
Residual values will be reviewed and updated annually.<br />
11. Other financial assets<br />
Trade and other receivables<br />
20<strong>07</strong> <strong>2006</strong><br />
£m £m<br />
Fee receivables 2.4 2.7<br />
Other debtors 0.9 0.9<br />
Prepayments and accrued income 7.3 6.3<br />
10.6 9.9<br />
The average credit period taken is 50 days (<strong>2006</strong>: 50 days). A late penalty fee<br />
of £250 is payable on periodic fees not paid by the due date. If payment is<br />
not received within 15 days of the due date interest is charged on the<br />
outstanding balance at Bank of England Repo rate plus 5%.