Notes to the consolidated financial statements
- « 21 Available-for-sale financial assets
- 22 Investment property
- 23 Goodwill »
22 Investment property
|
2008 |
2007 |
||
|
At 1 January |
3,722 |
4,739 |
|
|
Exchange and other adjustments |
66 |
5 |
|
|
Additions: |
|||
|
Acquisitions of new properties |
85 |
302 |
|
|
Additional expenditure on existing properties |
116 |
181 |
|
|
Total additions |
201 |
483 |
|
|
Disposals |
(300) |
(271) |
|
|
Adjustments on deconsolidation of OEICs |
– |
(881) |
|
|
Changes in fair value (note 7) |
(1,058) |
(321) |
|
|
Disposal of businesses |
– |
(32) |
|
|
At 31 December |
2,631 |
3,722 |
The investment properties are valued at least annually at open-market value, by independent, professionally qualified valuers, who have recent experience in the location and categories of the investment properties being valued.
In addition, the following amounts have been recognised in the income statement:
|
2008 |
2007 |
||
|---|---|---|---|
|
Rental income |
209 |
227 |
|
|
Direct operating expenses arising from investment properties that generate rental income |
29 |
24 |
Capital expenditure in respect of investment properties:
|
2008 |
2007 |
||
|---|---|---|---|
|
Capital expenditure contracted for at the balance sheet date but not recognised in the financial statements |
82 |
111 |