Annual Report and Financial Statements 2022-2023 - Flipbook - Page 35
11FIXED ASSETS
Freehold
Land and
Buildings
Short
Leasehold
land and
buildings
Motor
Vehicles
Computer
and other
equipment
Total
£’000
£’000
£’000
£’000
£’000
475
933
661
65
2,134
-
-
20
-
20
(250)
-
-
-
(250)
-
-
(202)
-
(202)
225
933
479
65
1,702
Depreciation
Opening
79
541
594
62
1,276
Charge for the year
10
51
12
2
75
(63)
-
-
-
(63)
Cost
Opening
Additions
Reclassification of property
Disposals
Closing
Reclassification of property
Disposals
-
-
(202)
-
(202)
26
592
404
64
1,086
Opening
396
392
67
3
858
Closing
199
341
75
1
616
Closing
Carrying amount
Further to an options appraisal carried out for the charity by Graham & Sibbald, Chartered Surveyors and legal advice
from Mitchells Roberton, Trustees agreed in June 2022 to market Balallan House, Allan Park, Stirling for sale.
The cost and accumulated depreciation for this property have therefore been transferred to current assets as an asset
held for resale, which is expected to be concluded during 2023-24.
The Charity applied transitional arrangements of section 35 of FRS 102, using a valuation at 1 April 2014 as the
deemed cost for all of its freehold properties. The properties are being depreciated from the valuation date.
The properties were last valued as at 1 April 2014 by an external professional valuer, Lambert Smith Hampton, a
general practice firm providing surveying and valuation services, using market-based evidence for similar local
properties. The cost of land and buildings at 31 March 2023 is made up of:
2023
£’000
2014 valuation
225
Cost
225
If these assets had not been revalued freehold land and buildings would have been included on the historical cost
basis at the following amounts:
Cost
Depreciation
Net book amount
2023
£’000
2022
£’000
170
397
(98)
(162)
72
235
Included within freehold land and buildings is land held at deemed cost of £75,000 (2022: £150,000), which is not
depreciated.
There were contractual commitments to acquire tangible fixed assets at 31 March 2023 of £60,000 representing the
building of a new toilet block at the Hollybush Environment Centre which is funded through grant funding from the
Veolia Landfill grant (2022: nil).
TCV Annual Report and Financial Statements 2022-2335
