8.
Fixed assets (continued)
Leasehold
Motor
Plant, fixtures and
land
Buildings
buses
equipment
$000's
$000's
$000's
$000's
Total
$000's
The company
Cost or valuation:
At 1st July, 1989
51,016
44,379
377,154
29,709
502,258
Additions
945
48,377
1,239
50,561
Disposals
(8,241)
(22)
At 30th June, 1990
51,016
45,324
417,290
30,926
(8,263)
544,556
-
Aggregate depreciation:
At 1st July, 1989
Written back on disposal
Charge for the year
At 30th June, 1990
Net book value:
At 30th June, 1990
Add: Buses under
3,475
273,248
22,190
298,913
(7,736)
(11)
(7,747)
486
26,375
1,576
28,437
3,961
291,887
23,755
319,603
51,016
41,363
125,403
7,171
224,953
construction &
in transit at cost
Net book value:
At 30th June, 1989
Add: Buses under
construction &
in transit at cost
45,771
270,724
51.016
40,904
103,906
7,519
203,345
47,190
250,535
Leasehold land at 30th June, 1990 is held in Hong Kong under long lease and comprises the following:-
At 1962 valuation
At cost
The group
The company
1990
1989
1990
1989
$000's
$000's
$000's
$000's
22,800
22.800
17,000
17,000
34,369
34,369
34,016
34,016
57,169
57,169
51,016
51,016
Included in the above is leasehold land of HK$12,500,000 (at 1962 valuation) which, at 30th June, 1990, was not used by the company in connection with its franchised bus operations. Negotiations are in progress with a number of property developers with a view to developing this property into office, retail and residential accommodation through a joint venture arrangement.
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