Notes to the consolidated financial statements
13. Property, plant and equipment
Land and buildings £m |
Plant and machinery £m |
Assets in the course of construction £m |
Motor vehicles and office equipment £m |
Total £m |
|
|---|---|---|---|---|---|
| Cost at 1 April 2007 | 778 | 25,466 | 1,972 | 771 | 28,987 |
| Exchange adjustments | 3 | 17 | 1 | – | 21 |
| Additions | 39 | 599 | 2,307 | 64 | 3,009 |
| Acquisition of subsidiary undertakings (see note 28)* | 347 | 2,797 | 129 | 7 | 3,280 |
| Disposals | (40) | (135) | – | (56) | (231) |
| Reclassifications (i) | 25 | 1,840 | (1,783) | 57 | 139 |
| Cost at 31 March 2008* | 1,152 | 30,584 | 2,626 | 843 | 35,205 |
| Exchange adjustments | 280 | 3,903 | 107 | 2 | 4,292 |
| Additions | 43 | 2,026 | 1,005 | 90 | 3,164 |
| Disposals | (20) | (204) | (12) | (31) | (267) |
| Reclassifications | 49 | 1,207 | (1,241) | (15) | – |
| Cost at 31 March 2009 | 1,504 | 37,516 | 2,485 | 889 | 42,394 |
| Depreciation at 1 April 2007 | 192 | 9,433 | – | 467 | 10,092 |
| Exchange adjustments | 1 | 6 | – | – | 7 |
| Depreciation charge for the year (ii) | 26 | 853 | – | 75 | 954 |
| Disposals | (17) | (113) | – | (49) | (179) |
| Depreciation at 31 March 2008 | 202 | 10,179 | – | 493 | 10,874 |
| Exchange adjustments | 18 | 1,050 | – | 3 | 1,071 |
| Depreciation charge for the year (ii) | 36 | 958 | – | 83 | 1,077 |
| Impairment charge for the year | – | 29 | – | – | 29 |
| Disposals | (19) | (157) | – | (26) | (202) |
| Reclassifications | 5 | 25 | – | (30) | – |
| Depreciation at 31 March 2009 | 242 | 12,084 | – | 523 | 12,849 |
| Net book value at 31 March 2009 | 1,262 | 25,432 | 2,485 | 366 | 29,545 |
| Net book value at 31 March 2008* | 950 | 20,405 | 2,626 | 350 | 24,331 |
- *
- Comparatives have been restated for the finalisation of the fair value exercise on the acquisition of KeySpan Corporation (see note 28)
- (i)
- Reclassifications included an amount of £139m transferred to trade and other payables, and other non-current liabilities.
- (ii)
- Includes amounts in respect of capitalised depreciation of £19m (2008: £14m).
The net book value of land and buildings comprised:
| 2009 £m |
2008* £m |
|
|---|---|---|
| Freehold | 1,191 | 904 |
| Long leasehold (over 50 years) | 5 | 5 |
| Short leasehold (under 50 years) | 66 | 41 |
| 1,262 | 950 |
- *
- Comparatives have been restated for the finalisation of the fair value exercise on the acquisition of KeySpan Corporation (see note 28)
The cost of property, plant and equipment at 31 March 2009 included £822m (2008: £674m) relating to interest capitalised.
Included within trade and other payables and other non-current liabilities at 31 March 2009 are contributions to the cost of property, plant and equipment amounting to £37m (2008: £31m) and £1,449m (2008: £1,228m) respectively.
The carrying value of property, plant and equipment held under finance leases at 31 March 2009 was £240m (2008: £193m). Additions during the year included £19m (2008: £26m) of property, plant and equipment held under finance leases.