OpenLegislation

Paragraph 14

Original text. Later amendments are not shown.

(1)

Tangible fixed assets may be included at a market value determined as at the date of their last valuation or at their current cost.

(2)

Investments of any description falling to be included in the balance sheet as investments in associated bodies may be included either—

(a)

at a market value determined as at the date of their last valuation; or

(b)

at a value determined by use of a different method of valuation appropriate to the valuation of the investment in the particular body in respect of which that method is used;

and where paragraph (b) above applies particulars of the method of valuation adopted and of the reasons for adopting it shall be disclosed in a note to the accounts.