RWS AR 23 Final Single pages - Flipbook - Page 136
Notes to the Consolidated Financial Statements (continued)
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:
Freehold land
Nil
Buildings
50 years
Leasehold land, buildings
and improvements
Shorter of useful economic
life and lease term
Furniture and equipment
3 to 10 years
Motor vehicles
6 years
All items of property, plant and equipment are tested for
impairment when there are indications that the carrying
value may not be recoverable. Any impairment losses are
recognised immediately in pro昀椀t or loss in the statement
of comprehensive income. Any assets which have su昀昀ered
an impairment are reviewed for possible reversal of the
impairment at each reporting date. The gain or loss on
disposal or retirement of an asset is determined as the
di昀昀erence between the sales proceeds and the carrying
value of the asset and is recognised in pro昀椀t or loss in the
statement of comprehensive income.
Included within freehold land and buildings at 30 September 2023 was freehold land of £5.6m (2022: £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 speci昀椀c security or contractual commitments (2022: None).
Freehold land
and buildings
£m
Leasehold land,
buildings and
improvements
£m
Furniture and
equipment
£m
Motor
vehicles
£m
Total
£m
Cost
At 30 September 2021
17.0
8.4
29.6
0.2
55.2
Currency translation
-
0.9
1.2
-
2.1
Transfers
-
0.1
(0.1)
-
-
Additions
-
0.4
4.9
-
5.3
Acquisitions
-
-
0.1
-
0.1
Disposals
-
(0.5)
(1.1)
-
(1.6)
At 30 September 2022
17.0
9.3
34.6
0.2
61.1
Currency translation
-
(0.2)
-
-
(0.2)
Additions
-
0.1
3.7
-
3.8
Acquisitions (Note 24)
-
-
0.1
-
0.1
Disposals
-
(1.2)
(2.7)
(0.1)
(4.0)
17.0
8.0
35.7
0.1
60.8
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)
At 30 September 2023
Accumulated depreciation
At 30 September 2021
Disposals
At 30 September 2022
2.5
4.2
22.9
0.2
29.8
Currency translation
-
0.1
(0.2)
-
(0.1)
Depreciation charge
0.2
1.3
5.8
-
7.3
-
(0.9)
(2.7)
(0.1)
(3.7)
2.7
4.7
25.8
0.1
33.3
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
At 30 September 2023
14.3
3.3
9.9
-
27.5
Disposals
At 30 September 2023
Net book value
136
RWS Holdings plc — Annual Report 2023 NOTES TO THE CONSOLIDATED STATEMENTS
