Page 102 - Annual Report 2010

ANNUAL REPORT 2010

100

4.6 Equipment and investment property

EUR Investment property

Office Equipment

Computer Equipment

Other Fixed Assets

Total Equipment

Cost 0 220 668 818 355 8 764 1 047 787 Accumulated depreciation 0 (106 277) (507 837) 0 (614 114)

Net book amount at 01.01.2009 0 114 391 310 518 8 764 433 673

Opening net book amount 0 114 391 310 518 8 764 433 673 Depreciation charge 0 (46 780) (169 456) 0 (216 236)

Net book amount at 31.12.2009 0 67 611 141 062 8 764 217 437

EUR Investment property

Office Equipment

Computer Equipment

Other Fixed Assets

Total Equipment

Cost 0 220 668 818 355 8 764 1 047 787 Accumulated depreciation 0 (153 057) (677 293) 0 (830 350)

Net book amount at 01.01.2010 0 67 611 141 062 8 764 217 437

Opening net book amount 0 67 611 141 062 8 764 217 437 Reclassification from non-current assets held for sale

7 139 812 0 0 0 0

Additions 0 9 477 0 0 9 477 Depreciation charge (810 732) (36 571) (108 688) 0 (145 259)

Net book amount 31.12.2010 6 329 080 40 517 32 374 8 764 81 655

EUR 31.12.2010 Investment

property

Office Equipment

Computer Equipment

Other Fixed Assets

Total Equipment

Cost 7 139 812 230 145 818 355 8 764 1 057 264 Accumulated depreciation (810 732) (189 628) (785 981) 0 (975 609)

Net book amount 6 329 080 40 517 32 374 8 764 81 655

There were no indications of impairment of equipment or investment property in either 2010 or 2009.

Following its assessment of the market, the Fund has decided in 2010 to hold the non-current asset for use and has found an opportunity for renting. Consequently, non-current assets previously classified in the statement of financial position as held for sale have been reclassified to “Investment proper t y”. Upon reclassif icat ion, the building was remeasured at the lower of its recoverable

amount and the carrying amount including depreciation that would have been recognised had the building never been classified as held for sale.

The fair value of the investment property is EUR 8.5m. The valuation was performed by external experts in October 2008 and is presumed not to have changed materially since.