Fixed assets (continued)
Leasehold
Motor
Plant, 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, 1986
39,321
34,935
343,505
26,534
444,295
Additions
6,856
4,985
2,485
1,480
15,806
Transfers
99
(99)
Disposals
(1,563)
(168)
(1,731)
At 30th June, 1987
46,177
39,920
344,526
27,747
458,370
J
Aggregate depreciation:
At 1st July, 1986
Written back on disposal
Transfers
Charge for the year
At 30th June, 1987
Net book value:
At 30th June, 1987
Add: Buses under
construction &
in transit at cost
Net book value:
At 30th June, 1986
Add: Buses under
construction &
in transit at cost
1,543
207,110
18,634
227,287
(1,404)
(134)
(1,538)
99
(99)
1,100
27,763
1,553
30,416
2,643
233,568
19,954
256,165
46,177
37,277
110,958
7,793
202,205
19,335
221,540
39,321
33,392
136,395
7,900
217,008
217,008
Leasehold land at 30th June, 1987 is held in Hong Kong under long lease and comprises the following:-
At 1962 valuation
At cost
The group
The company
1987
1986
1987
1986
$000's
$000's
$000's
$000's
22,800
22,800
17,000
17,000
29,530
22,674
29,177
22,321
52,330
45,474
46,177
39,321
Included in the above is leasehold land of HK$12,500,000 (at 1962 valuation) which, at 30th June, 1987, was not used by the company in connection with its franchised bus operations. An application was made under Section 16 of the Town Planning Ordinance (Cap. 131) to the Town Planning Board for permission to redevelop this site into residential, office and retail complexes.
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