10. Tangible assets

           
  Forests
& land
Buildings Machinery
&equipment
Total
Notes €'000 €'000 €'000 €'000
(a) Group          
Cost          
At 1 January 2011 (i) 1,378,775 34,082 115,437 1,528,294
Additions (ii) 34,534 - 7,950 42,484
Depletion (iii) (8,681) - - (8,681)
Disposals   (154) (666) (2,602) (3,422)
At 31 December 2011   1,404,474 33,416 120,785 1,558,675
Accumulated depreciation          
At 1 January 2011   12,017 18,247 53,608 83,872
Charge for year (iv) - 2,696 7,621 10,317
Disposals   - (475) (2,252) (2,709)
At 31 December 2011   12,017 20,486 58,977 91,480
Net book amounts:          
At 31 December 2011   1,392,457 12,930 61,808 1,467,195
At 31 December 2010   1,366,758 15,835 61,829 1,444,422
Forests
& land
Buildings Machinery
&equipment
Total
(b) Company   €'000 €'000 €'000 €'000
Cost          
At 1 January 2011 (i) 1,366,495 12,347 28,484 1,407,326
Additions (ii) 34,473 - 1,993 36,466
Depletion (iii) (8,681) - - (8,681)
Disposals   (154) (678) (2,208) (3,040)
At 31 December 2011   1,392,133 11,669 28,269 1,432,071
Accumulated depreciation          
At 1 January 2011   11,457 3,914 16,194 31,565
Charge for year (iv) - 229 1,531 1,760
Disposals   - (472) (2,112) (2,584)
At 31 December 2011   11,457 3,671 15,613 30,741
Net book amounts          
At 31 December 2011   1,380,676 7,998 12,656 1,401,330
At 31 December 2010   1,355,038 8,433 12,290 1,375,761


(i) Tangible assets taken over from the Department of Agriculture, Food and the Marine on Vesting Day (1 January 1989) are stated at cost, based on the amount agreed between the Group and the Minister for Agriculture, Food and the Marine. Subsequent additions are stated at cost.

(ii) Additions to forests and land comprised €0.89m (2010:€0.93m) for afforestation, €19.56m (2010:€18.08m) for reforestation, €13.12m (2010:€13.36m) for other capital work and €0.96m (2010:€1.02m) paid for land.

(iii) Depletion represents the cost of forests clearfelled during the year, calculated as the proportion that the area harvested bears to the total area of similar forests. The depletion amount is charged to the profit and loss account and is based on cost, as defined in (i) above.

(iv) The estimated useful lives of tangible assets by reference to which depreciation has been calculated are as follows:

  -  Buildings 20 to 50 years

  -  Machinery and equipment 4 to 20 years

(v) Included in the net book amount of tangible assets is an amount for capitalised leased assets of €65,000 (2010: €6,000). The depreciation charge for capitalised leased assets for the year ended 31 December 2011 was €20,000 (2010: €12,000).

(vi) Tangible assets are reviewed for impairment if events or changes in circumstances indicate that their carrying value may be impaired. In 2010, an impairment charge of €1.4m was included in the Group profit and loss account where the Group’s investment in certain forestry assets were written down to their recoverable amount. No similar impairment charge is required in 2011.