NOTE 25. PROPERTY, PLANT AND EQUIPMENT
Group and Agency |
2012 €'000 |
2011 €'000 |
|---|---|---|
| Cost | ||
| Balance at 1 January | 1,006 | - |
| Additions | 17 | 1,006 |
| Balance at 31 December | 1,023 | 1,006 |
| Depreciation | ||
| Accumulated depreciation at 1 January | (100) | - |
| Depreciation charge for the year | (92) | (100) |
| Balance at 31 December | (192) | (100) |
| Net book value at 31 December | 831 | 906 |
Property, plant and equipment includes lease fit out costs incurred to date. Capitalised lease fit out costs are depreciated on a straight line basis at a rate of 10% per annum in accordance with accounting policy 2.20. A full year's depreciation is charged in the year the lease fit out costs are incurred and capitalised.