Assets Valuations Policy - July 2021


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  1. The Parish Council is a public authority with statutory authority for holding, collecting and spending public money, and for acquiring, disposing of and maintaining public open spaces and other land in its own area

  2. In addition, the Council has responsibility for holding and maintaining items other than real estate for the proper performance of its statutory functions – some moveable items and some static items.

  3. Currently the Council has one employee – The Clerk and Responsible Financial Officer who is responsible for the administration of the Council’s affairs and the maintenance of its financial records.

  4. Fixed assets are property, plant and equipment utilised by the Council with an operational life of more than one year.

  5. The value assigned to fixed assets for the purpose of the Annual Governance and Accountability Return is based on the value of the asset at the time of acquisition – this will be fixed until such time as the asset is disposed of or diminishes such that it has no value.

  6. Gifted or other non-purchased assets, or assets that would never be sold to realise a value such as land will have a notional value of £1 applied to them.

  7. The value of fixed assets will not change once stated either by depreciation or appreciation.

  8. It should be noted that the value of assets for the purposes of insurance replacement value will be different and may increase at a suitable index rate to ensure the insurance cover will replace them if lost or damaged.

  9. The current Assets Register is annexed to this Policy which is subject to annual review by the Council at its monthly meeting each year in July / October.


 Adopted at full Parish Council 26th July 2021

 

Schedule of Capital Assets as at 31st March 2021
value does not include installation of replacements or VAT
 Value 


Street Furniture comprising 2 bus shelters 1 public bench (Village Green) £    30,845.00
Telephone Box £      2,000.00
Outside equipment ( Trojan shelter ) £      6,428.00
Playing Field & Village Pond Fences £    21,054.00
Chairman’s Badge £      2,928.00
Ground Surfaces £    15,000.00
Play Equipment Phases 1 & 2 £    68,569.00
2 Defibrilators £      5,000.00
Laptop computer £          500.00
Real estate £               1.00
2 Goal Posts & Nets £          664.00
6 Grit Bins £          780.00
1 Parish Notice Board £      1,800.00
4 Dog Waste Bins £      1,540.00
4 Park Benches on Playing Field £      1,000.00
1 Planter & Pump £          200.00



 £  158,309.00


Interactive Map showing the locations of Radford Semele Parish Council managed assets.

Radford Semele Parish Council Assets Valuation Policy Adopted July 2021 v1.0.pdf

Radford Semele Parish Council Assets Register July 2021.pdf