Jockey Club Racecourses Limited Notes to the financial statements Year ended 31 December 2021
12. Tangible fixed assets
Plant, equipment, furniture and vehicles £m
Long leasehold land and buildings £m
Freehold Buildings £m
Total £m
Land £m
Cost
4.5
112.4
419.8
229.6
73.3
At 1 January 2021
4.4
1.4
3.0
Additions Disposals
-
4.5
115.4
424.2
231.0
73.3
At 31 December 2021
Depreciation At 1 January 2021 Charge for the year
230.7
117.3
17.9
95.5
13.4
6.1
1.1
6.2
On disposals At 31 December 2021 Net book value At 31December 2021
123.4
244.1
19.0
101.7
4.5
54.3
180.1
107.6
13.7
4.5
55.4
189.1
112.3
16.9
At 31 December 2020
The net book value of plant and machinery includes £1.1m (2020: £1.3m) in respect of assets held under hire purchase contracts and finance leases. Such assets are generally classified as finance leases as the rental period amounts to the estimated useful economic life of the assets concerned and often the company has the right to purchase the assets outright at the end of the minimum lease term by paying a nominal amount. The assets are ground care, agricultural and access equipment and are generally leased over 5 to 7 years. Title typically reverts to the company at the end of the lease.
13. Investments
Investment in subsidiary undertakings £m
Investments in associate undertakings
Other investments £m
Total £m
Cost
At 31 December 2020 Additions At 31 December 2021
20.5
1.6
0.2
22.3
20.5
1.6
0.2
22.3
Provision At 31 December 2021 and 2020
19.9
0.2
20.1
Net book value At 31 December 2021
0.6
1.4
0.2
2.2
At 31 December 2020
1.4
2.2
0.6
0.2
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