2011/2012 audited annual accounts - Falkirk Council

FALKIRK COUNCIL
Surplus Assets have been valued on the basis of open market value.
Assets Under Construction have been valued at cost.
Vehicles, Plant and Equipment are valued on basis of open market value by the Council’s technical staff.
Infrastructure and Community Assets have been valued on the basis of historical cost.
The sources of information and assumptions made in producing the various valuations are set out in a valuation
certificate and report.
The Council has taken into account any material changes in the value of fixed assets.
(d) Capital Commitments
As at 31 March 2012 the Council has entered into a number of contracts for the construction or enhancement of
Property, Plant and Equipment in 2012/13 and future years budgeted to cost £20.9m. Similar commitments at 31
March 2011 were £21.2m. The major commitments are:-
Helix £5.6m
Glenbervie Slip Road £2.3m
St Bernadettes Primary School £1.6m
High Rise Flats £1.8m
New Build Housing £2.1m
External Fabric Improvements £1.6m
(e) Effects of Changes in Estimates
The Council has not made any material changes to its accounting estimates for Property, Plant and Equipment.
17. Assets held for sale
Current Non-Current
2010/11 2011/12 2010/11 2011/12
£’000 £’000 £’000 £’000
Balance at start of year 225 390 - 507
Assets newly classified as held for sale: 301 340 178 -
Revaluation losses (4) (91) - (114)
Revaluation gains 219 157 - -
Assets sold (22) (320) - (114)
Transfers from/to non-current/current (329) - 329 -
Balance outstanding at year-end 390 476 507 279
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