RWS Annual Report 2022 web - Flipbook - Page 131
14. PROPERTY, PLANT AND EQUIPMENT
Accounting policy
Property, plant and equipment are stated at cost less accumulated depreciation, where cost includes the original
purchase price of the asset and the costs attributable to bring the asset to its working condition for intended use. The
Group depreciates the cost of each item of property, plant and equipment (less its estimated residual value) using the
straight-line method over their estimated useful lives as follows:
All items of property, plant and equipment are tested for
impairment when there are indications that the carrying
Buildings
50 years
value may not be recoverable. Any impairment losses are
Leasehold land, buildings
Shorter of useful economic
recognised immediately in profit or loss in the statement
and improvements
life and lease term
of comprehensive income. Any assets which have suffered
an impairment are reviewed for possible reversal of the
Furniture and equipment
3 to 10 years
impairment at each reporting date. The gain or loss on
Motor vehicles
6 years
disposal or retirement of an asset is determined as the
difference between the sales proceeds and the carrying value of the asset and is recognised in profit or loss in the
statement of comprehensive income.
Freehold land
Nil
Included within freehold land and buildings at 30 September 2022 was freehold land of £5.6m (2021: £5.6m).
There were no gains or losses on disposal in the year, no assets included in property plant and equipment were subject
to any specific security or contractual commitments (2021: None).
Leasehold land,
buildings and
improvements
£m
Furniture and
equipment
£m
Motor
vehicles
£m
Total
£m
17.0
3.3
19.6
0.2
40.1
-
(0.1)
(0.3)
-
(0.4)
Freehold land
and buildings
£m
Cost
At 30 September 2020
Currency translation
Additions
-
0.6
3.5
-
4.1
Acquisitions
-
4.6
7.4
-
12.0
Disposals
At 30 September 2021
-
-
(0.6)
-
(0.6)
17.0
8.4
29.6
0.2
55.2
2.1
Currency translation
-
0.9
1.2
-
Transfers
-
0.1
(0.1)
-
-
Additions
-
0.4
4.9
-
5.3
Acquisitions
-
-
0.1
-
0.1
Disposals
-
(0.5)
(1.1)
-
(1.6)
17.0
9.3
34.6
0.2
61.1
17.3
At 30 September 2022
Accumulated depreciation
2.1
1.9
13.2
0.1
Currency translation
At 30 September 2020
-
0.1
0.1
-
0.2
Depreciation charge
0.2
1.1
4.9
-
6.2
Disposals
At 30 September 2021
-
-
(0.6)
-
(0.6)
2.3
3.1
17.6
0.1
23.1
Currency translation
-
0.2
0.9
0.1
1.2
Depreciation charge
0.2
1.4
5.5
-
7.1
-
(0.5)
(1.1)
-
(1.6)
2.5
4.2
22.9
0.2
29.8
Disposals
At 30 September 2022
Net book value
At 30 September 2020
14.9
1.4
6.4
0.1
22.8
At 30 September 2021
14.7
5.3
12.0
0.1
32.1
At 30 September 2022
14.5
5.1
11.7
-
31.3
NOTES TO THE CONSOLIDATED STATEMENTS
RWS — Annual Report 2022
131
