Archived decisions

Notes to the Consolidated Balance Sheet

1

Intangible Assets

The intangible assets recorded in the balance sheet relate to the costs of acquiring and bringing into use

the SAP software, which provides the core of the County Council's financial, human resources and

procurement systems. These costs had been included within fixed assets as assets under construction

in the balance sheet at 31 March 2004.

2a

Fixed assets

The movements in fixed assets during the year were as follows:

Other land

Vehicles,

Infra-

Community Non-

Assets

Total

and

plant and

structure

assets

operational

under

buildings

equipment

properties

construction

£'000

£'000

£'000

£'000

£'000

£'000

£'000

Gross Book Value at 31 March 2004

2,032,598

79,806

271,366

9,385

65,824

64,406

2,523,385

Less Accumulated

Depreciation/Impairment

-80,321

-20,545

-33,230

-1

-71

-

-134,168

Net book value of fixed assets

at 31 March 2004

1,952,277

59,261

238,136

9,384

65,753

64,406

2,389,217

Movement in 2004/05

Additions

104,890

8,566

46,888

1,055

3,115

29,479

193,993

Transfers

30,820

-19,155

27,962

711

-4,384

-38,586

-2,632

Disposals

Write-off of accumulated

-

depreciaton

399

915

1,314

Write off GBV

-7,224

-1,527

-3

-3

-9,426

-

-18,183

Revaluations

Write-off of accumulated

depreciaton

18,193

-

-

-

-

-

18,193

Change in certified valuations

108,885

-

-

-

-12,733

-

96,152

Impairment losses due to revaluations

-

-

Impairment losses for past year

-

-

-

-

-

-

-

Depreciation for year

-30,804

-5,723

-9,863

-

-

-

-46,390

Net book value

at 31 March 2005

2,177,436

42,337

303,120

11,147

42,325

55,299

2,631,664

There was a net increase in asset values of £242.4m in 2004/05. This was the result of additions

in the year of £194m, and a net increase from revaluations of £114.3m partly offset by depreciation

of £46.4m, and disposals of £16.9m and transfers to deferred charges of £2.6m.

40

Foundation schools

The fixed assets of foundation schools are vested in the Governing Bodies of the

schools, so the value of the assets has not been included in this balance sheet.

On 31 March 2005 there were 20 foundation schools (2003/04 20 schools).

Leases

At 31 March 2005 there were no outstanding obligations on finance leases.

2b

Valuation

The freehold and leasehold properties of the Council's property portfolio have been

valued, under a rolling programme, by the Estates Practice of the Property,

Business and Regulatory Services Department of the County Council.

FRS15 requires the dates and amounts of valuations to be analysed across

each of the classes of assets carried at current value. No analysis is required

for assets valued at historic cost.

Valuation

Other land

Vehicles,

Infra-

Community Non-

year

and

plant and

structure

assets

operational

buildings

equipment

properties

£'000

£'000

£'000

£'000

£'000

Valued at historic cost

42,337

303,120

11,147

Valued at current value in

1994/95

7,018

1,969

1995/96

457

36

1996/97

236

155

1997/98

3,398

2,421

1998/99

37

42

1999/00

15,495

4,936

2000/01

1,054,205

3,421

2001/02

15,285

4,653

2002/03

324,338

14,140

2003/04

231,062

6,395

2004/05

525,905

4,157

Total

1,651,531

42,337

303,120

11,147

42,325

41