EC Meeting Papers July 2018

GENERAL FEDERATION OF TRADE UNIONS EDUCATIONAL TRUST

NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2017

10.

Intangible fixed assets

Group and Trust

Purchased goodwill

Cost

£ 1

At 1 January 2017 and 31 December 2017

Amortisation At 1 January 2017 and 31 December 2017

1

Net book value At 31 December 2016 and 31 December 2017

-

Goodwill arose on the purchase of the Quorn Grange Hotel investment property in 2012.

11.

Fixed asset investments

Investment properties Trust

Fixed & moveable assets & equipment

Quorn Grange Property

Property improvements

Total

£

£

£

£

Cost At 1 January 2017

2,035,000

6,811

112,000

2,153,811

Additions Disposals

140,840

- - -

- - -

- - -

- -

Revaluation

At 31 December 2017

2,175,840

6,811

112,000

2,153,811

Depreciation At 1 January 2017 Charge for the year

- - -

2,613

53,387

56,000

630

8,792

9,422

Eliminated on disposals

-

-

-

At 31 December 2017

-

3,243

62,179

65,422

Net book value At 31 December 2017

2,175,840

3,568

49,821

2,229,229

At 31 December 2016

2,035,000

4,198

58,613

2,097,811

Investment properties were revalued at 31 December 2016 by an external and independent valuer.

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