NATIONAL WESTMINSTER BANK PLC /ENG/ | CIK:0000702162 | 3

  • Filed: 3/29/2018
  • Entity registrant name: NATIONAL WESTMINSTER BANK PLC /ENG/ (CIK: 0000702162)
  • Generator: Merrill
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/702162/000110465918021203/0001104659-18-021203-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/702162/000110465918021203/nwpc-20171231.xml
  • XBRL Cloud Viewer: Click to open XBRL Cloud Viewer
  • EDGAR Dashboard: https://edgardashboard.xbrlcloud.com/edgar-dashboard/?cik=0000702162
  • Open this page in separate window: Click
  • ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory

     

    17 Property, plant and equipment

     

     

     

    Group

     

     

     

     

     

     

    Long

     

    Short

     

    Computers

     

    Operating

     

     

     

     

    Investment

     

    Freehold

     

    leasehold

     

    leasehold

     

    and other

     

    lease

     

     

     

     

    properties

     

    premises

     

    premises

     

    premises

     

    equipment

     

    assets

     

    Total

    2017 

     

    £m

     

    £m

     

    £m

     

    £m

     

    £m

     

    £m

     

    £m

    Cost or valuation

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    At 1 January

     

    1,040

     

    1,552

     

    85

     

    531

     

    420

     

    —

     

    3,628

    Transfers to disposal groups

     

    —

     

    (472)

     

    (8)

     

    (12)

     

    (205)

     

    —

     

    (697)

    Currency translation and other adjustments

     

    18

     

    (37)

     

    —

     

    —

     

    (21)

     

    —

     

    (40)

    Transfers from/to fellow subsidiaries

     

    —

     

    11

     

    2

     

    8

     

    17

     

    1,291

     

    1,329

    Additions

     

    8

     

    27

     

    3

     

    19

     

    19

     

    199

     

    275

    Change in fair value of investment properties - continuing operations

     

    (18)

     

    —

     

    —

     

    —

     

    —

     

    —

     

    (18)

    Disposals and write-off of fully depreciated assets

     

    —

     

    (50)

     

    (4)

     

    (180)

     

    (12)

     

    (446)

     

    (692)

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    At 31 December

     

    1,048

     

    1,031

     

    78

     

    366

     

    218

     

    1,044

     

    3,785

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Accumulated impairment, depreciation and amortisation

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    At 1 January

     

    —

     

    747

     

    32

     

    390

     

    299

     

    —

     

    1,468

    Transfers to disposal groups

     

    —

     

    (315)

     

    (4)

     

    (11)

     

    (199)

     

    —

     

    (529)

    Currency translation and other adjustments

     

    —

     

    (27)

     

    —

     

    —

     

    (20)

     

    —

     

    (47)

    Transfers from/to fellow subsidiaries

     

    —

     

    6

     

    —

     

    4

     

    13

     

    571

     

    594

    Disposals and write-off of fully depreciated assets

     

    —

     

    (20)

     

    (3)

     

    (146)

     

    (7)

     

    (265)

     

    (441)

    Charge for the year

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    - from continuing operations

     

    —

     

    32

     

    3

     

    23

     

    13

     

    142

     

    213

    - from discontinued operations

     

    —

     

    1

     

    —

     

    —

     

    1

     

    —

     

    2

    Write back of property, plant and equipment

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    - from discontinued operations

     

    —

     

    (55)

     

    —

     

    —

     

    —

     

    —

     

    (55)

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    At 31 December

     

    —

     

    369

     

    28

     

    260

     

    100

     

    448

     

    1,205

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Net book value at 31 December

     

    1,048

     

    662

     

    50

     

    106

     

    118

     

    596

     

    2,580

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    2016 

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Cost or valuation

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    At 1 January

     

    27

     

    1,334

     

    98

     

    587

     

    405

     

    —

     

    2,451

    Transfers to disposal groups

     

    —

     

    (55)

     

    (12)

     

    (55)

     

    (54)

     

    —

     

    (176)

    Currency translation and other adjustments

     

    35

     

    83

     

    2

     

    55

     

    70

     

    —

     

    245

    Purchases of Nordisk properties from intermediate holding company

     

    1,005

     

    —

     

    —

     

    —

     

    —

     

    —

     

    1,005

    Transfers from/to fellow subsidiaries

     

    —

     

    197

     

    —

     

    (18)

     

    (30)

     

    —

     

    149

    Additions

     

    3

     

    19

     

    3

     

    11

     

    52

     

    —

     

    88

    Change in fair value of investment properties - continuing operations

     

    2

     

    —

     

    —

     

    —

     

    —

     

    —

     

    2

    Disposals and write-off of fully depreciated assets

     

    (32)

     

    (26)

     

    (6)

     

    (49)

     

    (23)

     

    —

     

    (136)

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    At 31 December

     

    1,040

     

    1,552

     

    85

     

    531

     

    420

     

    —

     

    3,628

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Accumulated impairment, depreciation and amortisation

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    At 1 January

     

    —

     

    716

     

    40

     

    392

     

    272

     

    —

     

    1,420

    Transfers to disposal groups

     

    —

     

    (23)

     

    (8)

     

    (33)

     

    (45)

     

    —

     

    (109)

    Currency translation and other adjustments

     

    —

     

    28

     

    1

     

    37

     

    102

     

    —

     

    168

    Transfers from/to fellow subsidiaries

     

    —

     

    9

     

    —

     

    (8)

     

    (24)

     

    —

     

    (23)

    Disposals and write-off of fully depreciated assets

     

    —

     

    (16)

     

    (3)

     

    (38)

     

    (20)

     

    —

     

    (77)

    Charge for the year

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    - from continuing operations

     

    —

     

    29

     

    2

     

    36

     

    12

     

    —

     

    79

    - from discontinued operations

     

    —

     

    2

     

    —

     

    4

     

    2

     

    —

     

    8

    Write down of property, plant and equipment

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    - discontinuing operations

     

    —

     

    2

     

    —

     

    —

     

    —

     

    —

     

    2

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    At 31 December

     

    —

     

    747

     

    32

     

    390

     

    299

     

    —

     

    1,468

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Net book value at 31 December

     

    1,040

     

    805

     

    53

     

    141

     

    121

     

    —

     

    2,160

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Investment property valuations principally employ present value techniques that discount expected cash flows. Expected cash flows reflect rental income, occupancy and residual market values; valuations are sensitive to changes in these factors. The investment property fair value measurements are categorised as level 3. A 5% change in the most sensitive assumption, residual values, is £40 million.

     

    Valuations were carried out by qualified surveyors who are members of the Royal Institution of Chartered Surveyors, or an equivalent overseas body; property with a fair value of £183 million (2016 - £196 million) was valued by independent valuers.

     

    Rental income from investment properties was £81 million (2016 - £18 million). Direct operating expenses of investment properties were £9 million (2016 - £3 million).

     

     

     

    Bank

     

     

     

     

    Long

     

    Short

     

    Computers

     

     

     

     

    Freehold

     

    leasehold

     

    leasehold

     

    and other

     

     

     

     

    premises

     

    premises

     

    premises

     

    equipment

     

    Total

    2017 

     

    £m

     

    £m

     

    £m

     

    £m

     

    £m

    Cost or valuation

     

     

     

     

     

     

     

     

     

     

    At 1 January

     

    864

     

    66

     

    496

     

    107

     

    1,533

    Transfers to disposal groups

     

    (61)

     

    (8)

     

    (1)

     

    (3)

     

    (73)

    Transfers from/to fellow subsidiaries

     

    10

     

    2

     

    5

     

    9

     

    26

    Additions

     

    22

     

    1

     

    19

     

    15

     

    57

    Disposals and write-off of fully depreciated assets

     

    (46)

     

    (2)

     

    (173)

     

    (3)

     

    (224)

     

     

     

     

     

     

     

     

     

     

     

    At 31 December

     

    789

     

    59

     

    346

     

    125

     

    1,319

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Accumulated impairment, depreciation and amortisation

     

     

     

     

     

     

     

     

     

     

    At 1 January

     

    351

     

    27

     

    360

     

    8

     

    746

    Transfers to disposal groups

     

    (27)

     

    (4)

     

    (1)

     

    —

     

    (32)

    Transfers from/to fellow subsidiaries

     

    6

     

    —

     

    2

     

    7

     

    15

    Disposals and write-off of fully depreciated assets

     

    (18)

     

    (2)

     

    (139)

     

    —

     

    (159)

    Charge for the year

     

    25

     

    2

     

    21

     

    9

     

    57

     

     

     

     

     

     

     

     

     

     

     

    At 31 December

     

    337

     

    23

     

    243

     

    24

     

    627

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Net book value at 31 December

     

    452

     

    36

     

    103

     

    101

     

    692

     

     

     

     

     

     

     

     

     

     

     

     

    2016 

     

     

     

     

     

     

     

     

     

     

    Cost or valuation

     

     

     

     

     

     

     

     

     

     

    At 1 January

     

    878

     

    65

     

    496

     

    67

     

    1,506

    Additions

     

    8

     

    3

     

    9

     

    41

     

    61

    Disposals and write-off of fully depreciated assets

     

    (22)

     

    (2)

     

    (9)

     

    (1)

     

    (34)

     

     

     

     

     

     

     

     

     

     

     

    At 31 December

     

    864

     

    66

     

    496

     

    107

     

    1,533

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Accumulated impairment, depreciation and amortisation

     

     

     

     

     

     

     

     

     

     

    At 1 January

     

    337

     

    26

     

    331

     

    1

     

    695

    Disposals and write-off of fully depreciated assets

     

    (13)

     

    (1)

     

    (5)

     

    —

     

    (19)

    Charge for the year

     

    27

     

    2

     

    34

     

    7

     

    70

     

     

     

     

     

     

     

     

     

     

     

    At 31 December

     

    351

     

    27

     

    360

     

    8

     

    746

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Net book value at 31 December

     

    513

     

    39

     

    136

     

    99

     

    787