Tesco 2004 Annual Report Download - page 38

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36 TESCO PLC
NOTE 12 Intangible Þxed assets
Goodwill
£m
Cost
At 22 February 2003 941
Currency translation (70)
Additions at cost (a) 187
At 28 February 2004 1,058
Amortisation
At 22 February 2003 51
Currency translation (10)
Charge for the period 52
At 28 February 2004 93
Net carrying value
At 28 February 2004 965
At 22 February 2003 890
(a) Goodwill arising from investments in subsidiaries in the year has been capitalised and amortised over 20 years in accordance with the provisions
of FRS 10, Goodwill and Intangible Assets. 20 years is the period over which the Directors estimate that the values of the underlying businesses acquired
are expected to exceed the value of the underlying assets.
Goodwill is recorded in local currency. Currency translation in prior years is immaterial.
Goodwill arising from investments in joint ventures and associates has been capitalised and amortised over 20 years in accordance
with the provisions of FRS 9, Associates and Joint Ventures and FRS 10, Goodwill and Intangible Assets and is included in Þxed
asset investment (note 14).
NOTE 13 Tangible Þxed assets
Plant, equipment,
Land and Þxtures and Þttings
buildings and motor vehicles Total
£m £m £m
Cost
At 22 February 2003 12,493 4,132 16,625
Currency translation (277) (65) (342)
Additions at cost (a) 1,556 729 2,285
13,772 4,796 18,568
Acquisitions 60 3 63
Disposals (114) (320) (434)
At 28 February 2004 13,718 4,479 18,197
Depreciation
At 22 February 2003 1,538 2,259 3,797
Currency translation (10) (21) (31)
Charge for period 251 449 700
1,779 2,687 4,466
Disposals (70) (293) (363)
At 28 February 2004 1,709 2,394 4,103
Net book value (b) (c)
At 28 February 2004 12,009 2,085 14,094
At 22 February 2003 10,955 1,873 12,828
Capital work in progress included above (d)
At 28 February 2004 353 100 453
At 22 February 2003 553 128 681
NOTES TO THE FINANCIAL STATEMENTS CONTINUED