text: **(f) Cash**
  
  For the purpose of the Statement of Cash Flows, cash includes cash on hand and in banks, and 
  money market investments readily convertible to cash within 2 workings days, net of 
  outstanding bank overdrafts. 
  
  **(g) Comparative Figures**
  
  Comparative figures are, where appropriate, reclassified so as to be comparable with the figures 
  presented for the current financial years. 
  
  **(h) Depreciation**
  
  Depreciation is provided on property, plant and equipment, including freehold buildings but 
  excluding land and investment properties. Depreciation is calculated so as to write off the net 
  cost or other revalued amount of each asset over its expected useful life. The Directors 
  reviewed all Depreciation Rates at the commencement of this financial year. It was agreed that 
  the rates for Vessels should be bought in line with industry standards with effect from the 
  1999/2000 financial year. Leasehold improvements are depreciated over the period of the 
  lease or estimated useful life, whichever is the shorter. The following rates are used in the 
  calculation of depreciation; 
  
  **2000**
  Leasehold buildings and 
  improvements 
  Vessels 4% diminishing value 
  • 
  • 
  Vessel Refits 
  • Plant & equipment 
  • Motor Vehicles 
  
  **1900**
  
  • 
  
  10% diminishing value 
  4-40% prime cost 
  22.5% diminishing value 22.5% diminishing value 