Companies that hold property must often value it for their financial statements under FRS 102 or FRS 105. Kingston Surveyors arranges an RICS Registered Valuer to provide independent, Red Book valuations of investment and owner-occupied property for accounting purposes, giving directors, accountants and auditors a reliable figure. We value commercial and residential assets across London, Birmingham, Manchester and nationwide.
Under FRS 102, investment property is normally carried at fair value and owner-occupied property may be revalued, with changes reflected in the accounts. An FRS 102 valuation provides the fair value or existing use value of the asset at the reporting date, prepared in line with RICS Valuation – Global Standards (the Red Book) so it satisfies auditors and stakeholders.
These valuations are needed by companies, charities, pension schemes and SIPPs holding property, typically at each financial year end or when a revaluation is due. A current, independent valuation supports accurate accounts, informs lending and investment decisions and demonstrates good governance to auditors and members.
We match your instruction to an RICS Registered Valuer experienced in valuations for financial reporting, delivering clear reports to your accounting deadline. Whether you hold a single premises or a portfolio, we provide defensible figures you can rely on. Contact Kingston Surveyors for a free, no-obligation quote on an FRS 102 accounting valuation.
Helpful next steps: ATED valuations, RICS valuation costs and Red Book valuations.
FRS 102 requires investment property to be measured at fair value at each reporting date, with movements through profit and loss — and auditors increasingly insist that the figure comes from an independent, qualified valuer rather than a director’s estimate. The RICS Registered Valuers we arrange provide Red Book valuations addressed to the company and its auditors, with the evidence base documented for the audit file.
Portfolios are valued at a discounted combined fee; revaluations in later years cost less than first valuations; and valuations can be timed to your year-end date. Also relevant for incorporation of property businesses and intra-group transfers. Related: ATED valuations, CGT valuations and our fee guide. Call 0204 579 8270.
