Community Assets

According to 4.1.2.33 of the Code Community Assets are to be valued at Depreciated Historic Cost or ''valuation'' under 4.10 if the Council so elects. This year I have reclassified a number of properties to Community Assets from Land and Buildings and Investment Properties for consistency reasons and I was concerned that they may now be undervalued, as they are mostly held at nominal values of £1, consistent with valuation in their original categories at Fair Value (Market Value) or EUV, since there are usually restrictions on their disposal. Should I revalue them to their Historic Cost (i.e. original purchase price plus any subsequent capital spend thereon) now, as the Council has not specifically elected to use ''Valuation'' basis as per Heritage Assets?