Source: https://tendernation.io/opportunities/01a13cf2-3fff-714c-848f-89e35f325ad6/nepro3-2024-capital-accounting-asset-valuation

awarded GB restricted procedure

# Nepro3 - 2024 capital accounting asset valuation

[City of London Corporation](https://tendernation.io/buyers/city-of-london-corporation)

Estimated value

£100,240

Published

18 Jan 2024

Deadline

Closed

8 Jan 2024

## Who can bid

- Small contract value

    Valued under £135,018 including VAT, the lowest Procurement Act threshold for goods and services.

## About this tender

Gerald Eve LLP have been appointed by Bloom Procurement Services Ltd on behalf of

The Mayor and Commonality and Citizens of The City of London (the City), to provide

valuations for capital accounting purposes for incorporation in the City's accounts under CIPFA, as of 31 March 2024, for inclusion in the City's Annual Report and Financial Statements and for internal management and accounting purposes.

Valuations required are for financial statements and accordingly are Regulated Purpose Valuations. A schedule of properties to be valued as of 31st March 2024 is appended to this Work Order at Appendix 1.

In accordance with IAS 16 and the CIPFA Code, an apportionment of the value

attributable to the buildings, together with an estimate of their useful economic life is required. Where an item of property, plant and equipment with a cost that is significant in relation to the total cost of the item, it shall be depreciated separately.

Basis of Valuation for Operational Property - "Existing Use Value" (or "Depreciated Replacement cost" where necessary)

Basis of Valuation for HRA Dwellings - "Existing Use Value - Social Discount"

Investment properties and those properties held outside of City Fund are not in scope of this contract.

### Audit

Gerald Eve LLP will be required to provide on request any calculations, bases of judgement or supporting/comparable information underlying the valuations as necessary to satisfy follow up audit queries and to attend meetings with both the City's finance team and auditors to facilitate prompt resolution of said audit queries.

### Conflicts of interest

Gerald Eve LLP shall declare to the City any conflict of interest prior to commencing the valuation process in any given year.

Read full description

## CPV classification

Accounting and auditing services

Source

Contracts Finder (UK)

[View official notice](https://www.contractsfinder.service.gov.uk/notice/c63acd8a-defc-4539-acd8-d1c86d4358ef)

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