Case Study: Manufacturing company assets go from zero to millions
A substantial manufacturing company was owned by a large plc. Their depreciation policy was to write off assets as quickly as possible (including the specialist buildings).
The company is now privately owned and finds itself asset rich but with a net book value of nearly NIL. This is not a practical situation for a private company, as analysts and banks tend to look at their financial figures in a different way. The plant still has a substantial life ahead of it.
As we are specialists in revaluing assets for financial accounting purposes, we were instructed to revalue the plant and machinery with a full detailed schedule of the machinery involved, so that the client could rebuild their balance sheet from virtually zero to millions of pounds.
The introduction of the new UK financial Reporting Standard (FRS102) has led to a large increase in requests from businesses looking to revalue their assets.
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