Capital Accounting Asset Valuation for City of London Corporation

About

City of London Corporation awarded a contract to Gerald Eve for the provision of valuations for capital accounting purposes, as of 31 March 2024, for incorporation in the City's accounts under CIPFA and inclusion in the Annual Report and Financial Statements.

The valuations are Regulated Purpose Valuations for financial statements, covering a schedule of properties, with apportionment of building value and estimates of useful economic life in accordance with IAS 16 and the CIPFA Code.

The basis of valuation is Existing Use Value or Depreciated Replacement Cost for operational property, and Existing Use Value - Social Discount for HRA Dwellings.

Investment properties and properties held outside of City Fund are excluded.

Gerald Eve is required to provide supporting information for audit queries and attend meetings with the City's finance team and auditors.

The contract value is £100,240.