Goodwill

A small company purchased goodwill of £50,000 some six years ago, and on a recent professional valuation it was valued at £150,000. All other assets are also worth at least book value.

The directors have asked this to be reflected in the accounts to show the re-valued amount in the balance sheet. I can find no objection to this provided it has an appropriately worded note in the balance sheet, and the goodwill is professional valued on a regular basis, to be consistent.

Are there any accounting standards that say small companies cannot revalue goodwill, and reflect that in the balance sheet?