2 What is the largest non-current asset category by net book value? Is it what you would...

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2 What is the largest non-current asset category by net book value? Is it what you would expect for a business of this kind?

Our stores The Group operates from 466 stores and the strategic focus remains in the development of the two formats of choice, the superstore and the smaller format Compact store, previously referred to as Neighbourhood. Compact stores provide a comprehensive Halfords offer, carrying some 6,000 of the 10,000 lines available within an average superstore, to smaller catchments where a full superstore would not be viable (p. 6).
Finance director’s report – operating leases All of the Group’s stores are occupied under operating leases, the majority of which are on standard lease terms, typically with a 15-year term at inception. The Group has a total commitment under noncancellable operating leases of £778.5m (2008: £818.6m), (p. 20).

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