Tesco 2007 Annual Report Download - page 72

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Notes to the financial statements continued
Note 12 Investment property
2007 2006
£m £m
Cost
At beginning of year 785 595
Foreign currency translation (32) 36
Additions 26 21
Acquisitions through business combinations 32 –
Transfers 101 194
Classified as held for sale (4) (58)
Disposals (2) (3)
At end of year 906 785
Accumulated depreciation and impairment losses
At beginning of year 40 30
Foreign currency translation (2) 2
Charge for the period 11 9
Classified as held for sale – (1)
Transfers 1–
At end of year 50 40
Net carrying value 856 745
The net carrying value at 26 February 2005 was £565m.
The estimated fair value of the Group’s investment property is £1,522m (2006 – £1,373m). This value has been determined by
applying an appropriate rental yield to the rentals earned by the investment property. A valuation has not been performed by
an independent valuer.
70 Tesco PLC Annual report and financial statements 2007 Find out more at www.tesco.com/corporate