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Fixed Asset Investment in Kenya

I have a UK small company that has purchased shares in a company registered in Kenya.

The directors do not consider that there is any permanent diminution in value but I assume that the investment should be shown at cost and re-valued at the balance sheet date.

Any advice regarding accounting for this and any CT implications would be welcomed.

Many thanks.

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When I say revalued I mean in terms of the foreign exchange rates.

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