Does anyone know the disclosure requirement for investment properties as in do you include it as part of tangible fixed assets within the notes to the financial statements or do you disclose separately as investments?
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Disclose separately
In the balance sheet formats set out in SCG(ADR) Regs. 2008 Sch.1, Fixed Assets are sub-divided into Intangible Assets, Tangible Assets and Investments. Investment properties are Investments, not Tangible Assets, and should therefore not be disclosed as (part of) tangible fixed assets. In practice, they are always disclosed in a separate note, as are Goodwill & other intangible assets.
Disagree
Investment properties are tangible fixed assets, not investments. Investments in the regs quoted by Euan are non tangible investments.
Confirmed by the UK GAAP taxonomy structure (look at your tagging) and by our accounts production software which allows us to investment properties in the tangible fixed assets note or have a separate note.
Agree with MBK
Fixed assets incude:
- Intangible assets
- Tangle assets
- Investments
Tangiebl assets include investment property which should be carried at market value; the directors could do the valuation though!