Tesco 2003 Annual Report Download - page 37

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TESCO PLC 35
NOTE 12 Tangible fixed assets continued
(a) Includes £62m in respect of interest capitalised principally relating to land and building
assets.The capitalisation rate used to determine the amount of finance costs capitalised
during the period was 6.5%.
(b) Net book value includes capitalised interest at 22 February 2003 of £463m (2002 – £406m).
Plant, equipment, fixtures and fittings and motor vehicles subject to finance leases included
in net book value are:
Net book
Cost Depreciation value
£m £m £m
At 23 February 2002 352 288 64
Movement in the period 388 181 207
At 22 February 2003 740 469 271
(c) The net book value of land and buildings comprises:
2003 2002
£m £m
Freehold 9,992 8,492
Long leasehold – 50 years or more 493 505
Short leasehold – less than 50 years 470 487
At 22 February 2003 10,955 9,484
(d) Capital work in progress does not include land.
NOTE 13 Fixed asset investments
Group Company
Share in Loans to
Joint Own Other Group Group Joint
ventures (b) Associates (c) shares (d) investments
undertakings (a)
undertakings ventures (b)
£m £m £m £m £m £m £m
At 23 February 2002 232 16 64 5 3,280 3,424 156
Additions 4 7 42 1 1,225 518 2
Share of profit/(loss) of joint
ventures and associates 44 (4) –––––
Goodwill amortisation (1) (1) –––––
Income received from joint
ventures and associates (11) ––––––
Disposals (2) – (53) – – (627) –
At 22 February 2003 266 18 53 6 4,505 3,315 158