| Investment property, which is property held to earn rentals and/or for capital appreciation, is
initially recognised at cost, which includes the purchase cost and any directly attributable
expenditure.
Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on
revaluation is recognised in profit or loss. Where fair value cannot be achieved without undue cost
or effort, investment property is accounted for as tangible fixed asset. Investment property relates
to residential property. The director has considered the value using market value rent and yields
for the location, as a result no gain or loss has been incurred.
Therefore, values reflect the open market value of the property as at 28 February 2022. No
depreciation is provided in respect of investment property. |