Financials
Fixed Assets
 
 
 
From its commencement in 1919, the Bank's policy in relation to the acquisition of Land and Premises for its branches was that of outright purchase. This policy was consistently applied throughout much of the Bank's existence, only in later years were premises rented on a limited basis. No policy was stated in the early published accounts regarding Depreciation, and this seems to have been charged on an ad hoc basis until 1944, when the value of Land and Premises was depreciated to leave just a nominal value of 1,000 on the Balance Sheet. From 1954 to 1978, a policy of writing-off all Capital Expenditure in the year in which it was incurred was followed, except that in 1977 and 1978 the Bank's proportion of the assets held by the West Midlands and South Wales Trustee Savings Banks' Computer Consortium were shown. In 1979, in anticipation of the Bank's amalgamation with TSB of the Midlands, the 'practice of writing out capital expenditure on premises and equipment in the year in which it was incurred' was discontinued.

The 1979 Annual Report continued by declaring the new Accounting Policy on Depreciation as follows:
 
A charge of 1% per annum on the net book value of Freeholds and of Leaseholds with more than twenty years unexpired is provided to take account of the depreciable amount of the buildings.
Other assets are depreciated on a straight line basis over their estimated useful life. The depreciation rates used are:
     Short leasehold premises (twenty or less years to run): equally over the term of the lease
     Furniture and office equipment: 10% - 12% pa
     Computer equipment: 12% - 20% pa
     Motor cars: 25% pa
The new policy has been introduced by bringing into the accounts the original cost of the premises and equipment taken over from the Birmingham Municipal Bank on 1st April 1976 and depreciating such assets from that date.
 
However, for the sake of consistency and clarification, the 1979 figures in the table below, assume that the expenditure in that year was fully written-off. The actual data for that year is reproduced at Premises and Equipment 1979.
 
The Depreciation of Furniture and Equipment in the early years of the Bank's existence followed the same policy as described above for Land and Premises. At March 31st 1942, the value of Furniture and Equipment had been completely written-off. As with Land and Premises, no expenditure was incurred in the remaining years of the Second World War, and then 16,780 was spent in 1947, in installing an additional 5,888 safes in the Head Office Safe Deposit. From 1952 to 1978, all expenditure on Furniture and Equipment was written-off in the year it was incurred.
 
During the Bank's existence, the years of major Capital Expenditure were in 1933 and 1934 for the new Head Office in Broad Street; in 1947 for the Safe Deposit extension referred to in the previous paragraph; and in early 1970s for computer equipment. Details of the latter are shown at Computer Financing.
 
The following table details the amounts shown in each of the Bank's Annual Reports re Fixed Assets:
 
 
                                                                        
Land & Premises ()
 
 
 Additions
 Depreciation
Written
Down
Value
 1920
 374
0
374
 1921
 0
249
125
 1922
 14,665
535
14,255
 1923
 15,499
925
28,829
 1924
 24,607
1,868
51,568
 1925
 10,859
1,443
60,984
 1926
 16,416
1,715
75,685
 1927
 11,957
1,972
85,670
 1928
 21,734
4,898
102,506
 1929
 22,768
6,815
118,459
 1930
 7,558
14,844
111,173
 1931
 14,370
12,231
113,312
 1932
 14,236
11,670
115,878
 1933
 68,853
18,290
166,441
 1934
 35,179
21,859
179,761
 1935
 1,212
24,681
156,292
 1936
 6,390
16,754
145,928
 1937
 6,350
21,133
131,145
 1938
 6,645
24,626
113,164
 1939
 5,619
33,130
85,653
 1940
 10,792
23,741
72,704
 1941
 7,239
8,524
71,419
 1942
 0
17,214
54,205
 1943
 0
26,520
27,685
 1944
 0
26,685
1,000
 1945
 0
0
1,000
 1946
 0
0
1,000
 1947
 2,014
0
3,014
 1948
 0
0
3,014
 1949
 0
0
3,014
 1950
 0
2,014
1,000
 1951
 0
0
1,000
 1952
 1,780
1,780
1,000
 1953
 0
0
1,000
 1954
 55
1,055
0
 1955
 808
808
0
 1956
 1,270
 1,270
0
 1957
 16,820
 16,820
0
 1958
 11,336
11,336
0
 1959
 0
0
0
 1960
 (875)
(875)
0
 1961
 8,218
8,218
0
 1962
 (5,751)
(5,751)
0
 1963
 6,230
6,230
0
 1964
 2,794
2,794
0
 1965
 1,000
1,000
0
 1966
 26,968
26,968
0
 1967
 370
370
0
 1968
 39,440
39,440
0
 1969
 5,477
5,477
0
 1970
 24,222
24,222
0
 1971
 606
606
0
 1972
 (8,196)
(8,196)
0
 1973
 30,569
30,569
0
 1974
 3,967
3,967
0
 1975
 5,632
5,632
0
 Mar 1976
 8,922
8,922
0
 Nov 1976
 9,850
9,850
0
 1977
 4,000
4,000
0
 1978
 2,000
2,000
0
 1979*
 61,000
61,000
0
 
 
 
 
 
 583,848
583,848
0
Furniture & Equipment ()
 
 
 Additions
 Depreciation
Written
Down
Value
 1920
 1,564
0
1,564
 1921
 874
0
2,438
 1922
 2,179
983
3,634
 1923
 3,397
1,588
5,443
 1924
 3,796
2,037
7,202
 1925
 2,563
2,560
7,205
 1926
 3,026
2,446
7,785
 1927
 6,459
3,826
10,418
 1928
 3,077
3,742
9,753
 1929
 2,987
3,949
8,791
 1930
 2,042
4,360
6,473
 1931
 3,708
4,733
5,448
 1932
 2,315
4,058
3,705
 1933
 1,313
3,126
1,892
 1934
 13,456
999
14,349
 1935
 1,404
7,738
8,015
 1936
 2,092
3,105
7,002
 1937
 1,143
4,059
4,086
 1938
 1,594
3,475
2,205
 1939
 613
1,412
1,406
 1940
 1,064
1,622
848
 1941
 1,029
1,099
778
 1942
 0
778
0
 1943
 0
0
0
 1944
 0
26,685
0
 1945
 0
0
0
 1946
 0
0
0
 1947
 16,780
0
16,780
 1948
 0
0
16,780
 1949
 250
426
16,604
 1950
 0
5,251
11,353
 1951
 0
5,676
5,677
 1952
 0
5,677
0
 1953
 7,194
7,194
0
 1954
 1,274
1,055
0
 1955
 2,181
2,181
0
 1956
 8,222
 8,222
0
 1957
 6,051
 6,051
0
 1958
 4,721
4,721
0
 1959
 4,902
4,902
0
 1960
 3,082
3,082
0
 1961
 5,689
5,689
0
 1962
 6,750
6,750
0
 1963
 10,644
10,644
0
 1964
 9,374
9,374
0
 1965
 5,638
5,638
0
 1966
 6,274
6,274
0
 1967
 15,519
15,519
0
 1968
 15,533
15,533
0
 1969
86,287
86,287
0
 1970
 11,972
11,972
0
 1971
 55,793
55,793
0
 1972
 42,927
42,927
0
 1973
 9,432
9,432
0
 1974
 170,841
170,841
0
 1975
 226,646
226,646
0
 Mar 1976
 94,822
94,822
0
 Nov 1976
 33,715
33,715
0
 1977
 10,000
10,000
0
 1978
 17,000
17,000
0
 1979*
 19,000
19,000
0
 
 
 
 
 
 970,208
970,208
0
Total Written Down Value ()
 
 
Written
Down
Value
 1920
1,938
 1921
2,563
 1922
17,889
 1923
34,272
 1924
58,770
 1925
68,189
 1926
83,470
 1927
96,088
 1928
111,809
 1929
127,250
 1930
117,646
 1931
118,760
 1932
119,583
 1933
168,333
 1934
194,110
 1935
164,307
 1936
152,930
 1937
135,231
 1938
115,369
 1939
87,059
 1940
73,552
 1941
72,197
 1942
54,205
 1943
27,685
 1944
1,000
 1945
1,000
 1946
1,000
 1947
19,794
 1948
19,794
 1949
19,618
 1950
12,353
 1951
6,677
 1952
1,000
 1953
1,000
 1954
1,000
 1955
0
 1956
0
 1957
0
 1958
0
 1959
0
 1960
0
 1961
0
 1962
0
 1963
0
 1964
0
 1965
0
 1966
0
 1967
0
 1968
0
 1969
0
 1970
0
 1971
0
 1972
0
 1973
0
 1974
0
 1975
0
 Mar 1976
0
 Nov 1976
0
 1977
0
 1978
0
 1979*
0
 
 
 
0
* see note above re Premises & Equipment 1979
 
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