10a. Tangible fixed assets

	Freehold land and buildings		Leasehold land and buildings		Plant, equipment & computers		Heritage Assets		Total
	£000		£000		£000		£000		£000
Cost or valuation
At 1st April 2001	628,310		838		6,092		17,734		652,974
Additions	865		9,447		1,400		85		11,797
Donations	-		-		-		-		-
Disposals	-		-		(418)		-		(418)
Revaluation	50,282		-		(165)		-		50,117
At 31st March 2002	679,457		10,285		6,909		17,819		714,470
Depreciation
At 1st April 2001	270,180		74		3,121		-		273,375
Charged in year	3,183		104		757		-		4,044
Disposals	-		-		(353)		-		(353)
Revaluation	26,419		-		(124)		-		26,295
At 31st March 2002	299,782		178		3,401		-		303,361
Net book value at 31st March 2002	379,675		10,107		3,508		17,819		411,109
At 31st March 2001	358,130		764		2,971		17,734		379,599

Utilisation at 31st March 2002:
Assets in current use:
Owned	379,675	2,020	3,508	17,819	411,109
Assets not in current use:
Assets in course of construction	-	8,087	-	-	-
Net book value at 31st March 2002	379,675	10,107	3,508	17,819	411,109

Land and buildings

The Palace of Westminster was re-valued on the basis of Depreciated Replacement Cost. The total value of the Palace as at 31^st March 2002 was £939,000,000 (House of Lords share £375,600,000). The remainder of the Parliamentary Estate was re-valued using Existing Use Value.

Plant, equipment and computers

The clock mechanism in the Clock Tower, popularly known as 'Big Ben', was last valued as at 2^nd July 1998 on a replacement cost basis by Thwaites & Reed of London Limited at £2,850,000 (House of Lords share £1,140,000). Standard furnishing is also included in this category.

Heritage assets

Antique furniture is based on a professional valuation carried out at 31^st March 1998. The Furniture Manager for the Parliamentary Works Department performs a yearly internal review of the antique furniture to identify if any revaluation adjustment is required. For the year ended 31^st March 2002 no adjustment was required and the value of the furniture was £17,469,000.

The Works of Art Collection is classified as non-operational heritage assets and those acquired prior to 1^st April 2000 are not included on the balance sheet. House of Lords additions since 1^st April 2000 are capitalised and included in the table of fixed assets (2001-02 £85,000). The collection held by Parliament, either solely or jointly owned by the House of Lords and House of Commons, prior to 1^st April 2000 can be classified as follows:

Purchased Works of Art numbering:		And Donated works of art numbering:
Paintings and Prints	4,796	Paintings and Prints	1,534
Busts	170	Busts and Statues	49
Medieval Statuary	6	Murals and mosaics	17
Murals and mosaics	122	Tapestries	1
Tapestries	9

10b. Intangible fixed assets

Intangible fixed assets comprise purchased software licences.

	Software Licences
	£000
Cost or valuation
At 1st April 2001	288
Additions	78
Donations	-
Disposals	-
Revaluation	-
At 31st March 2002	366
Depreciation
At 1st April 2001	104
Charged in year	88
Disposals	-
Revaluation	-
At 31st March 2002	192
Net book value at 31st March 2002	174
At 31st March 2001	184

11. Movements in working capital other than cash

	2001-02		2000-01 (unaudited)
	£000		£000
Increase/(Decrease) in stocks	5		21
Increase/(Decrease) in debtors	368		440
(Increase)/Decrease in creditors exc. Consolidated Fund	(512)		328
Movements in working capital other than cash (Schedule 1)	(139)		789
Movements in working capital on capital expenditure	5		-
Movements in working capital other than cash (Schedule 4)	(134)		789

12. Debtors

	2001-02		2000-01 (unaudited)
	£000		£000
Amounts falling due within one year:
Trade debtors	620		377
Deposits and advances	798		392
Other debtors	7		3
Prepayments and accrued income	277		562
	1,702		1,334

13. Cash at bank and in hand

	2001-02		2000-01 (unaudited)
	£000		£000
Balance at 1st April 2001	1,514		913
Net cash flow:	(769)		601
Balance at 31st March 2002	745		1,514
The following balances at 31st March are held at: Office of HM Paymaster General Commercial banks and cash in hand	683 62		1,216 298
	745		1,154
The balance at 31st March comprises:
Cash due to be paid to the Consolidated Fund:
Amounts issued from the Consolidated Fund for supply but not spent at year end	683		1,216
Other	62		298
	745		1,514

14. Creditors: amounts falling due within one year

	2001-02		2000-01 (unaudited)
	£000		£000
Trade creditors	403		172
Other creditors	1,289		886
Accruals and deferred income	822		944
Amounts issued from the Consolidated Fund for supply but not spent at year end	745		1,617
	3,259		3,619

15. Provisions for liabilities and charges (See also Note 1.13)

The provision for future pension payments and early departure costs is as follows:

	Pension commitments		Early Departure Costs		Total Provision
	£000		£000		£000
Balance at 1st April 2001	34,152		220		34,372
Provided in the year	1,776		113		1,889
Provision utilised in the year	(1,501)		(79)		(1,580)
Balance at 31st March 2002	34,427		254		34,681

16. Reserves

	Revaluation Reserve
	£000
Balance at 1st April 2001	77,980
Arising on revaluation during the year (net)	23,907
Transferred to general fund in respect of realised element of revaluation reserve	(8)
Balance at 31st March 2002	101,879

The revaluation reserve reflects the unrealised element of the cumulative balance of indexation and revaluation adjustments (excluding donated assets).

	Donated assets reserve
	£000
Balance at 1st April 2001	217
Additions during the year	-
Balance at 31st March 2002	217

The donated assets reserve reflects the net book value of assets donated to the House of Lords.

17. Capital Commitments

The House of Lords has capital commitments at 31^st March 2002, for which no provision has been made, amounting to £507,000.

18. Commitments under leases

Commitments under operating leases to pay rentals during the year following the year of these accounts are given in the table below, analysed according to the period in which the lease expires:

	2001-02		2000-01 (unaudited)
	£000		£000
Land and buildings in respect of operating leases expiring:
Within one year	-		-
Between two and five years	-		-
After five years	1,116		1,142
	1,116		1,142

19. Other financial commitments

The House of Lords does not have any other material commitments at 31^st March 2002.

20. Contingent Liabilities

There were no contingent liabilities at 31^st March 2002.

21. Reconciliation of net operating cost to changes in general fund

	2001-02
	£000	£000
Net operating cost for the year (Schedule 2)		(71,449)
Income not appropriated in aid paid to the Consolidated Fund		-
		(71,449)
Net parliamentary funding		56,165
Transferred to general fund of realised element of revaluation reserve (note 16)		8
Non-cash charges:
Cost of capital (note 3)	21,626
Auditor's remuneration (note 3)	105
		21,731
Balance to be surrendered to Consolidated Fund
Cash balance payable	(745)
Prior year unspent grant	1,546	801
Net change in general fund		7,256
General fund at 1st April 2001		266,706
General fund at 31st March 2002 (Schedule 3)		273,962

22. Related-party transactions

The House of Lords and the House of Commons share some buildings and services. These include the Palace of Westminster, the Parliamentary Estates Directorate, the Parliamentary Works Services Directorate, the Parliamentary Communications Directorate and the Parliamentary Archives.

These joint arrangements are charged between the two Houses on an agreed percentage basis of underlying costs for each service (certain accommodation and overhead costs are excluded). Each House includes their share of the relevant asset base and/or service cost in their Resource Accounts. The percentage for each House for the key areas is as follows:

Service	House of Lords	House of Commons
Accommodation and Works services	40%	60%
Communications services	15%	85%
Parliamentary archives	60%	40%
Broadcasting services	40%	60%

As at 31^st March 2002, the balance relating to accommodation and works services owed to the House of Lords by the House of Commons was £562,749. In relation to other shared services the amount owed by the House of Lords to the House of Commons was £212,646.

23. Notes to Schedule 5

The House of Lords' capital is employed exclusively for House of Lords' administration purposes. In the course of year, and after consultation with the heads of offices, the aim and objectives of the House of Lords' administration were revised. Work is progressing to enable Schedule 5 in future years to reflect the changes in the objectives.