Balance sheet value for properties in an investment company?

Can anyone confirm please that a company which owns residential property that is let,should show the MV in the balance sheet instead of at cost, with any surplus/deficit being take to revaluation reserve.

I assume that you can use director's best estimate of market value and is it the valuation at the y/e rather than the date the accounts are signed off?

 

Thanks for any help

 

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Correct

3569787 |
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