j237504-21.htm

7. Property, Plant and Equipment

2011-12	Road Network	Land	Buildings	IT	Leasehold Improvements	Assets under Construction	Total
2011-12	£’000	£’000	£’000	£’000	£’000	£’000	£’000
Cost or Valuation
At 1st April 2011	18,398,495	1,969	3,227	4,253	1,508	804,317	19,213,769
Detrunkings							0
Capital additions	294,684			360		197,466	492,510
Disposals		(44)		(11)			(55)
Revaluation	967,373	130	120				967,623
Current valuation adjustments	(373,287)		0				(373,287)
Historic valuation adjustments	51,125						51,125
Transfers and reclassifications	870,476	2,893	1,700			(738,393)	136,676
Transfers to assets held for sale							0
Balance at 31st March 2012	20,208,866	4,948	5,047	4,602	1,508	263,390	20,488,361
Depreciation
At 1st April 2011	2,705,665	0	884	3,152	1,163	0	2,710,864
Detrunkings							0
Charge for the year	62,518		185	506	105		63,314
Disposals				(6)			(6)
Revaluation	182,101		39				182,140
Current valuation adjustments	106,066						106,066
Historic valuation adjustments	5,273						5,273
Transfers and reclassifications							0
Balance at 31st March 2012	3,061,623	0	1,108	3,652	1,268	0	3,067,651
Net Book Value at 31st March 2012	17,147,243	4,948	3,939	950	240	263,390	17,420,710
Net Book Value at 31st March 2011	15,692,830	1,969	2,343	1,101	345	804,317	16,502,905
Asset Financing
Owned	15,710,658	4,948	3,126	950	240	263,390	15,983,312
Finance Leased	0	0	0	0	0	0	0
On Balance Sheet PFI	1,436,585	0	0	0	0	0	1,436,585
Donated	0	0	813	0	0	0	813
Net Book Value at 31st March 2012	17,147,243	4,948	3,939	950	240	263,390	17,420,710

2010-11	Road Network	Land	Buildings	IT	Leasehold Improvements	Assets under Construction	Total
2010-11	£’000	£’000	£’000	£’000	£’000	£’000	£’000
Cost or Valuation
At 1st April 2010	17,317,126	1,450	1,198	4,170	4,167	580,971	17,909,082
Detrunkings	(29,334)	0	0	0	0	0	(29,334)
Capital additions	36,830	0	0	118	0	223,351	260,299
Disposals	0	0	0	0	0	0	0
Revaluation	1,124,050	116	169	0	0	0	1,124,335
Current valuation adjustments	(50,177)	0	0	0	0	0	(50,177)
Historic valuation adjustments	0	0	0	0	0	0	0
Transfers and reclassifications	0	835	1,860	(35)	(2,659)	0	1
Transfers and reclassifications	0	(432)	0	0	0	(5)	(437)
Balances at 31st March 2011	18,398,495	1,969	3,227	4,253	1,508	804,317	19,213,769
Depreciation
At 1st April 2010	2,527,459	0	5	2,586	1,540	0	2,531,590
Detrunkings	(29,334)	0	0	0	0	0	(29,334)
Charge for the year	43,353	0	182	590	249	0	44,374
Disposals	0	0	0	0	0	0	0
Revaluation	183,480	0	45	0	0	0	183,525
Current valuation adjustments	(19,293)	0	0	0	0	0	(19,293)
Historic valuation adjustments	0	0	0	0	0	0	0
Transfers and reclassifications	0	0	652	(24)	(626)	0	2
Balances at 31st March 2011	2,705,665	0	884	3,152	1,163	0	2,710,864
Net Book Value at 31st March 2011	15,692,830	1,969	2,343	1,101	345	804,317	16,502,905
Net Book Value at 1st April 2010	14,789,667	1,450	1,193	1,584	2,627	580,971	15,377,492
Asset Financing
Owned	15,131,471	1,969	1,453	1,101	345	804,317	15,940,656
Finance Leased	0	0	0	0	0	0	0
On Balance Sheet PFI	561,359	0	0	0	0	0	561,359
Donated	0	0	890	0	0	0	890
Net Book Value at 31st March 2011	15,692,830	1,969	2,343	1,101	345	804,317	16,502,905

Detrunkings reflect transfer of road assets to local authorities, with the corresponding entry flowing through the General Fund (SoCTE).

WS Atkins LLP (RICS Regulated) carry out an annual valuation of the trunk road network.

Revaluation is based on Baxter's indexation for all road network assets apart from land. Land is valued at market rates based on information supplied by the Valuation Office Agency. All revaluation movement is reflected through the revaluation reserve (SoCTE).