Notes to the Financial Statements
for the year ended 31 December 2004
19 Land And Buildings
| £m | ||
| At 31 December 2004 |
At 31 December 2003 |
|
| Insurance and other assets | ||
| Market value | ||
| At beginning of year | 677 |
600 |
| Net disposals | (24) |
(33) |
| Market value movements | 40 |
51 |
| Foreign exchange and other movements At end of year | 80 |
59 |
773 |
677 |
All land and buildings recognised under “insurance and other assets” are freehold. No land and buildings are occupied for own use.
| £m | ||
| At 31 December 2004 |
At 31 December 2003 |
|
| Banking | ||
| Cost | ||
| At beginning of year | 164 |
138 |
| Net additions/(disposals) | 20 |
(4) |
| Foreign exchange and other movements | 12 |
30 |
| At end of year | 196 |
164 |
| Accumulated depreciation | ||
| At beginning of year | (23) |
(7) |
| Charge for year | (5) |
(9) |
| Foreign exchange and other movements | (8) |
(7) |
| At end of year | (36) |
(23) |
| Net book value | ||
| At end of year | 160 |
141 |
| Analysed between: | ||
| Freehold | 156 |
134 |
| Long and short leasehold | 4 |
7 |
160 |
141 |
All land and buildings were occupied for own use.
| £m | ||
| At 31 December 2004 |
At 31 December 2003 |
|
| Market value | ||
| Freehold | 202 |
150 |
| Long and short leasehold | 4 |
7 |
| Market value of land and buildings occupied for own use | 206 |
157 |
