(30 Sep 2020, 10:14 pm)streetdeckfan wrote But aren't the vehicles purchased by the group rather than GNE themselves and then 'leased' so would go down as an expense?

Not too sure how GNE account it tbh, but if you bought the bus outright you'd just charge depreciation instead which would be the same or thereabouts as the lease their paying. Be very surprised if Arriva have depreciated anything down to 0 yet bar maybe the ex London Deckers and MPD's but then again that would be the same for GNE with their ex London deckers and possibly the Omnidekkas. I believe that'll be reason why Arriva has a tendency to dump withdrawn buses at the back of a yard somewhere and let them rot rather than selling them off way below book value and taking a massive hit there and then.

I'm assuming it'll be 15 years depreciation for deckers and singles then 12 year for minis though.

Technically you can make a profit from investments if they can sell the bus more than what it's depreciated value is (or a loss if it's lower) so if anything it could actually go up slightly for the money they're gaining from the sales of the old stuff they're binning off.