Thursday, May 19, 2011

Tangible Assets

In Q2 2011, the GoIndustry DoveBid Valuations Team appraised the value of tangible assets for accounting purposes at over 1,100 various public buildings throughout the United Kingdom, primarily back office and front-of-house facilities.

Using a sampling methodology, the GoIndustry DoveBid team of seven valuation specialists visited 81 locations over a five week period. Over 130,000 individual items were inspected, categorised and graded according to condition.

Data provided by the Company was compared with our findings to benchmark it’s accuracy and a range of data points for each site were analysed to identify patterns of asset utility, lifecycle and economic life, current cost and future value, according to the data available,  with the unvisited sites being categorised accordingly.

Following a final review of the assets and the appropriate accounting standard, FRS15, we used the most appropriate methodology for arriving at the Value of the Plant & Equipment to the Business of the asset portfolio. We reported an overall value in excess of £60m.

For more information of the services offered by GoIndustry DoveBid see our website