NOTES TO THE ACCOUNTS
11. FIXED ASSETS
Investment
Other
properties
fixed assets
Total
Group
HK$ Million
HK$ Million
HK$ Million
Cost or valuation
At 1 April 2004
4,005.6
32.0
4,037.6
Exchange differences
29.4
(0.1)
29.3
Additions
398.5
12.7
411.2
Disposals
(5.6)
(19.0)
(24.6)
Revaluation surplus
885.8
–
885.8
At 31 March 2005
5,313.7
25.6
5,339.3
Accumulated depreciation
At 1 April 2004
–
26.8
26.8
Exchange differences
–
0.1
0.1
Charge for the year
–
1.9
1.9
Written back on disposals
–
(15.9)
(15.9)
At 31 March 2005
–
12.9
12.9
Net Book Value
At 31 March 2005
5,313.7
12.7
5,326.4
At 31 March 2004
4,005.6
5.2
4,010.8
a)
The analysis of cost or valuation of
the above assets is as follows:
At valuation in 2005
5,313.7
–
5,313.7
At cost
–
25.6
25.6
5,313.7
25.6
5,339.3
b)
Tenure of title to properties:
Held in Hong Kong
Long lease
2,923.6
–
2,923.6
Held outside Hong Kong
Freehold
474.5
–
474.5
Long lease
1,915.6
–
1,915.6
5,313.7
–
5,313.7
59
Wheelock and Company Limited Annual Report 2004/05