Annual Reports & Accounts to 31 March 2012 - Aithisgean Bliadhnail agus Cùnntasan gu 31 Màrt 2012
10. Property, plant and equipment and investment property Investment Other Piers, Vessels Office Payments TOTAL Property Property Slipways & Equipment on account Linkspan and assets in Facilities construction £’000 £’000 £’000 £’000 £’000 £’000 £’000 Cost or valuation Balance as at 1 April 2010 restated 1,622 4,712 149,833 107,041 23 14,869 278,100 Additions - - 17 1,307 3 15,750 17,077 Revaluation increase/ (decrease) (74) (113) (17) 8,493 - - 8,289 Balance as at 1 April 2011 1,548 4,599 149,833 116,841 26 30,619 303,466 Additions - - 10 1,198 - 12,165 13,373 Transfers 74 (74) 6,000 25,421 - (31,421) Disposals - - - (305) - - (305) Revaluation increase/ (decrease) (71) - - (22,355) - - (22,426) Balance as at 31 March 2012 1,551 4,525 155,843 120,800 26 11,363 294,108 Accumulated depreciation and impairment Balance as at 1 April 2010 restated - 92 83,981 9,036 19 - 93,128 Depreciation expense - 94 2,479 9,800 5 - 12,378 Balance at 1 April 2011 - 186 86,460 18,836 24 - 105,506 Transfers 11 (11) - - - - Disposals - - - (188) - - (188) Depreciation expense _ 91 2,485 11,926 1 - 14,503 Revaluation Adjustment (11) - - (30,574) - - (30,585) Balance as at 31 March 2012 - 266 88,945 - 25 - 89,236 Carrying amounts Balance as at 31 March 2011 1,548 4,413 63,373 98,005 2 30,619 197,960 Balance as at 31 March 2012 1,551 4,259 66,898 120,800 1 11,363 204,872 Carrying amount under cost model Balance as at 31 March 2011 - 4,538 27,902 68,326 2 30,619 131,387 Balance as at 31 March 2012 - 4,397 32,570 88,512 1 11,363 136,843
Included in the cost of Assets in Construction is £8,163 (2011: £1,156,400) of interest arising on the financing of a new vessel. Interest has been calculated at 3.82% (2011: rates ranging from 3.90% to 5.02%).
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