14. Tangible fixed assets

	Freehold land and buildings £m	Plant, machinery and equipment £m	Assets in course of construction £m	Total £m
a) The Group
Cost
At 1 January 2004	89	3,013	23	3,125
Additions	7	44	188	239
Subsidiary undertakings acquired	80	1,416	–	1,496
Reclassifications and transfers	–	43	(46)	(3)
Disposals	–	(2)	–	(2)
Exchange rate differences	(2)	(71)	(4)	(77)
At 31 December 2004	174	4,443	161	4,778
Depreciation and diminution in value
At 1 January 2004	22	1,055	–	1,077
Provided during the year	3	82	–	85
Disposals	–	(2)	–	(2)
Exchange rate differences	–	(36)	–	(36)
At 31 December 2004	25	1,099	–	1,124
Net book value at 31 December 2004	149	3,344	161	3,654
Net book value at 31 December 2003	67	1,958	23	2,048

Interest capitalised in the year was £8 million. On a cumulative basis, the net book value of interest capitalised is £84 million (2003: £85 million). The total value of land that is not depreciated included within freehold land and buildings is £47 million (31 December 2003: £27 million).

	Freehold land and buildings £m	Plant, machinery and equipment £m	Total £m
b) The Company
Cost
At 1 January 2004	1	5	6
Additions	1	1	2
At 31 December 2004	2	6	8
Depreciation and diminution in value
At 1 January 2004	1	4	5
Provided during the year	–	1	1
At 31 December 2004	1	5	6
Net book value at 31 December 2004	1	1	2
Net book value at 31 December 2003	–	1	1

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