Annual Report & Accounts 2017/18

110 NI Water Annual Report and Accounts 2017/18 Statutory Accounts A6 Other investments Group Company At 31 March 2018 £000 At 31 March 2017 £000 At 31 March 2018 £000 At 31 March 2017 £000 Non-current investments 15,278 ordinary ‘A’ shares 28 41 28 41 Total 28 41 28 41 The shares relate to an investment in WRc PLC. WRc carries out research in the water, waste and environment sectors. The market value at 31 March 2018 was £1.85 per ordinary share (2017: £2.71). The fair value adjustment of £13k has been debited to Other Comprehensive Income and has been debited to an Available for Sale reserve. A7 Inventories Group Company At 31 March 2018 £000 At 31 March 2017 £000 At 31 March 2018 £000 At 31 March 2017 £000 Raw materials and consumables 2,673 2,353 2,470 2,353 Work in progress - - - - Total 2,673 2,353 2,470 2,353 The estimated replacement cost of the stocks included above is not considered significantly different to the carrying value. During the year raw materials, consumables and work in progress issued from stores and recognised within operating costs for the Group and Company amounted to £674k (2017: £539k) (Company: £628k, 2017: £539k). The inventory held in stores is a component of total inventories. In the year ending 31 March 2018 the write-down of inventories to net realisable value amounted to £60k (2017: £60k). This relates to a provision against slow moving raw materials and consumables stock of £60k (2017: £60k). The write-downs are included in operating expenses. A8 Cash and cash equivalents Group Company At 31 March 2018 £000 At 31 March 2017 £000 At 31 March 2018 £000 At 31 March 2017 £000 Bank balances 10,429 2,122 1,893 2,122 Call deposits 2,004 1,500 2,004 1,500 Cash and cash equivalents 12,433 3,622 3,897 3,622 The Company’s exposure to interest rate risk and sensitivity analysis for financial assets and liabilities is disclosed in Note B4. A9 Non-current assets held for sale The Company’s Land Management Department is focused on selling the properties no longer required for operational purposes. Efforts to sell the assets have commenced and where the sale is expected by March 2019 these properties have been classified as held for sale in current assets. The movement in non-current assets held for sale is as follows: Group Company At 31 March 2018 £000 At 31 March 2017 £000 At 31 March 2018 £000 At 31 March 2017 £000 Balance at 1 April 790 848 790 848 Adjustment for opening balance 7 - 7 - Net transfer from investment properties (4) 303 (4) 303 Net transfer to investment properties (209) (8) (209) (8) Impairment/Depreciation - (2) - (2) Disposals (454) (351) (454) (351) Balance at 31 March 130 790 130 790 A gain of £355k (2017: £463k) on disposal of non-current assets held for sale is included within ‘Other income’ in the SOCI.