Notes to the Financial Statements
11. Tangible Assets
Land and Buildings | Terminals | Dock Structures, Dry Docks and Quays | Floating Craft | Cranes | Plant and Machinery | Assets under construction (AUC) | Total | |
|---|---|---|---|---|---|---|---|---|
€’000 | €’000 | €’000 | €’000 | €’000 | €’000 | €’000 | €’000 | |
Cost or valuation | ||||||||
At 1 January 2022 | 203,979 | 225,005 | 243,280 | 20,041 | 3,540 | 35,155 | 127,110 | 858,110 |
Additions during year | 8,542 | 439 | 3,815 | 93 | - | 1,199 | 33,899 | 47,987 |
Reclassified | - | - | (500) | - | - | - | 500 | - |
Disposals | (1,089) | - | (1,314) | - | - | (143) | - | (2,546) |
Transfer from AUC | 23,605 | 47 | 4,134 | 1,270 | - | 28 | (29,084 | - |
At 31 December 2022 | 235,037 | 224,991 | 249,915 | 21,404 | 3,540 | 36,239 | 132,425 | 903,551 |
Accumulated Depreciation | ||||||||
At 1 January 2022 | 27,127 | 95,963 | 43,756 | 7,249 | 3,396 | 19,236 | - | 196,727 |
Charge for year | 3,201 | 3,119 | 5,515 | 750 | 8 | 1,918 | - | 14,511 |
Disposals | (1,083) | - | (1,180) | - | - | (143) | - | (2,406) |
At 31 December 2022 | 29,245 | 99,082 | 48,091 | 7,999 | 3,404 | 21,011 | - | 208,832 |
Net Book Amounts | ||||||||
At 1 January 2022 | 176,852 | 129,042 | 199,524 | 12,792 | 144 | 15,919 | 127,110 | 661,383 |
At 31 December 2022 | 205,792 | 125,909 | 201,824 | 13,405 | 136 | 15,228 | 132,425 | 694,719 |
The cost to the Company of assets acquired on Vesting Day, 3 March 1997, under the Harbours Act, 1996 was determined by the then Minister for Communications, Marine and Natural Resources in consideration for shares issued.
Costs of fixed assets includes cumulative interest capitalised of €7.6m (2021: €6.3m).
In 2022 a loss €141,000 (2021: €50,000 profit) on disposal/write-off of tangible assets was recognised.