GKN PLC

Annual Report and Accounts
for the year ended 31 December 2007

Auditors' Report (Group)
Group Financial Statements
Consolidated Income Statement
Consolidated Statement of Income & Expense
Consolidated Balance Sheet
Consolidated Cash Flow Statement
Financial Notes
1 Accounting policies and presentation
2 Segmental analysis
3 Operating profit
4 Net financing costs
5 Taxation
6 Earnings per share
7 Dividends
8 Employees including Directors
9 Share-based payments
10 Intangible assets
11 Property, plant and equipment
12 Investments in joint ventures
13 Other receivables and investments
14 Inventories
15 Trade and other receivables
16 Trade and other payables
17 Current tax
18 Net borrowings
19 Financial risk management
20 Derivative financial instruments
21 Provisions
22 Deferred tax
23 Share capital
24 Changes in shareholders' equity
25 Acquisitions
26 Cash flow reconciliations
27 Post-employment obligations
28 Contingent assets and liabilities
29 Operating lease commitments
30 Capital expenditure
31 Related party transactions
Auditors' Report (Company)
Company Financial Statements
Five Year Financial Record
Principal Subsidiaries and Joint Ventures
 

11 Property, plant and equipment

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2007 2006
Land and
buildings
£m		 Other
tangible
assets
£m		 Capital
work in
progress
£m		 Total
£m
Land and
buildings
£m		 Other
tangible
assets
£m		 Capital
work in
progress
£m

Total
£m
Cost
At 1 January 505 2,567 85 3,157 515 2,642 108 3,265
Subsidiaries acquired 3 16 - 19 4 22 1 27
Capital expenditure 6 92 76 174 14 106 74 194
Disposals (18) (74) - (92) (1) (125) - (126)
Transfers 5 55 (60) - 8 82 (90) -
Currency variations 20 117 4 141 (35) (160) (8) (203)
At 31 December 521 2,773 105 3,399 505 2,567 85 3,157
Accumlated depreciation and impairment
At 1 January 111 1,692 - 1,803 108 1,793 - 1,901
Charge for the year 11 130 - 141 13 124 - 137
Disposals (10) (69) - (79) - (121) - (121)
Impairments - charged to trading profit (note 3a) - 1 - 1 - - - -
Impairments/reversals - other (note 3b) (1) (8) - (9) - 1 - 1
Currency variations 4 76 - 80 (10) (105) - (115)
At 31 December 115 1,822 - 1,937 111 1,692 - 1,803
Net book amount at 31 December 406 951 105 1,462 394 875 85 1,354
Owned assets 399 950 105 1,454 386 874 85 1,345
Assets under finances leases 7 1 - 8 8 1 - 9
Net book amount at 31 December 406 951 105 1,462 394 875 85 1,354

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