Page 95 - 86395_CCB - 2024 Annual Report (web)

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17 Debt securities
The Bank’s debt securities are initially recognised 2024
at fair value and subsequently measured at fair £’000 2023
value through other comprehensive income. The Debt securities as
instruments meet the SPPI criteria but as the assets at 1 January 47,409 30,412
are in a Held To Collect and Sell Business Model, they
are recorded at Fair Value with changes recorded Purchases/fair
through Other Comprehensive Income (OCI). value movements
during the year 24,337 36,997
Changes in the fair value of debt securities are
recognised in other comprehensive income Securities sold/redeemed
and presented in the fair value through other during the year (6,609) (20,000)
comprehensive income reserve. When the debt Debt securities as
security is sold or matures, the gain or loss at 31 December 65,137 47,409
accumulated in equity, together with the tax thereon,
is reclassified to the income statement.

18 Property, plant and equipment Depreciation is charged to the income
statement on a straight‑line basis over the
Property, plant and equipment are stated at cost
estimated useful lives of each part of an item.
less accumulated depreciation and accumulated
The estimated useful lives are as follows:
impairment losses. Where parts of an item of
property, plant and equipment have different useful – Property leases 2 to 15 years
lives, they are accounted for as separate items of
– Computer hardware 1 to 5 years
property, plant, and equipment.
– Fixtures and fittings 3 to 10 years
Leases in which the Bank assumes substantially all
the risks and rewards of ownership of the leased The Bank’s depreciation methods, useful lives,
asset are classified as finance leases and are stated at and residual values are reviewed at each balance
the amount equal to the lower of their fair value and sheet date.
the present value of the minimum lease payments at
inception of the lease, less accumulated depreciation.

2024 Property Computer Fixtures
£’000 lease hardware and fittings Total
Cost

Balance at 1 January 2024 2,152 456 1,060 3,668
Additions – 98 – 98
Disposals (52) (132) – (184)
Balance at 31 December 2024 2,100 422 1,060 3,582
Accumulated Depreciation

Balance at 1 January 2024 648 264 730 1,642
Charge for the year 156 117 151 424
Eliminated on disposals (52) (132) – (184)

Balance at 31 December 2024 752 249 881 1,882
At 1 January 2024 1,504 192 331 2,026
At 31 December 2024 1,348 173 179 1,700