7.
Fixed assets (continued)
Plant,
Leasehold
Motor
fixtures and
land
Buildings
buses
equipment
Total
$000's
$000's
$000's
$000's
$000's
The company
Cost or valuation:
At 1st July, 1985
39,321
33,656
347,814
24,132
444,923
Additions
1,279
664
3,022
4,965
Disposals
(4,973)
(620)
(5,593)
At 30th June, 1986
39,321
34,935
343,505
26,534
444,295
Aggregate depreciation:
At 1st July, 1985
1,162
182,293
17,643
201,098
Written back on disposal
(4,433)
(581)
(5,014)
Charge for the year
381
29,250
1,572
31,203
At 30th June, 1986
1.543
207,110
18,634
227,287
Net book value:
At 30th June, 1986
39,321
33,392
136,395
7,900
217,008
Net book value:
At 30th June, 1985
39,321
32,494
165.521
6,489
243,825
Leasehold land at 30th June, 1986 is held in Hong Kong under long lease and comprises the following:-
At 1962 valuation
At cost
The group
The company
1986
1985
1986
1985
$000's
$000's
$000's
$000's
22,800
22,800
17,000
17,000
22,674
22,674
22,321
22,321
45,474
45.474
39,321
39,321
Included in leasehold land and buildings are leasehold land of HK$12,500,000 (at 1962 valuation) and buildings of HK$688,723 (net book value at 30th June, 1986) which, at 30th June, 1986, are not used by the company in connection with its franchised bus operations. Permission has been granted by the Government for the site to be used in accordance with the lease conditions and, at 30th June, 1986, the said land and buildings are held by the company for development or disposal.
8.
Interest in subsidiary company
Unlisted shares, at cost
Details of the subsidiary company are as follows:-
Name of company
Island Communication Enterprises Limited
Country of incorporation and operation
1986
$000's
1985
$000's
7,887
7,887
Hong Kong
Issued share capital
$2,786,983
Description of shares and percentage
Principal
directly held
100% Ordinary
activity
Property
investment
18
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