FRS 102 valuation: review the value of your business assets
UK accounting practices for many businesses changed on January 1, 2015 to the new Financial Reporting Standard (FRS) 102.
FRS 102 could present you with the opportunity to use the principle of ‘fair value’, and to revise the value of your property, plant and equipment assets.
This allows you to effectively rebuild your asset registers, particularly where machinery has been written down to zero but is still a valuable part of your company’s assets.
After transition to the new standard, FRS 102 only requires valuations to be performed with ‘sufficient regularity’ giving further motivation for you to undertake valuations sooner rather than later.
Our asset valuation team have already undertaken fair value valuations for a number of companies across the UK, which have delivered a significant uplift in asset values.
For more information about how FRS 102 asset valuation can impact on the value of your business assets, please contact our specialist asset valuation advisor.