# Asset Valuation Brief

> A sourced UK public sector contract award published by East Hampshire District Council.

## Key facts

- Buyer: [East Hampshire District Council](/buyers/east-hampshire-district-council/contract-awards)
- Supplier: [Vail Williams](/suppliers/vail-williams/public-sector-contract-awards)
- Award value: £37,800
- Tender value: £37,800
- Award date: 8 December 2017
- Published: 11 December 2017
- Contract start: 11 December 2017
- Contract end: 31 March 2018
- Stage: awarded
- Procurement category: services
- Notice ID: 5b8dec10-46a1-431d-84d3-77c33a005885-186528
- OCID: ocds-b5fd17-1a163fcb-2cd7-427d-a0da-4cc3193ef7d2

## Description

The purpose of the Brief is to inform potential Suppliers providing quotations or Quotes for the Services and to form the basis of a specification of work to be included within the Agreement\. Councils are required to report the value of their land and building assets within their financial statements in line with the requirements of the International Financial Reporting Standards \(IFRS\), and the Chartered Institute of Public Finance and Accountancy's \(CIPFA\) Code of Practice on Local Authority Capital Accounting\. Investment Assets are required to be revalued annually, although they need be inspected only every five years\. Non-Investment Assets must be revalued at least once every five years\. At the end of each Council Financial Year, the Council is required to assess whether there is any indication that its assets may be impaired \(i\.e\. whether their carrying amount is higher than their recoverable amount\)\. Accordingly, an Impairment Statement must be reported each year\.

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## Source

[View the original notice on Contracts Finder](https://www.contractsfinder.service.gov.uk/Notice/5b8dec10-46a1-431d-84d3-77c33a005885-186528)