Fixed Asset Registers

imeldabye
imeldabye Registered Posts: 147 ? ? ?
I am doing first year accounts for a new partership who design and build furniture. So I am compiling a list of assets, and wonder if there is a "material" amount which should be used- ie a tool costing £50- not a huge investment but one nonetheless and one that continues to be used in the business- but the list they have provided me with is extensive - as it was a start-up- do I list everything? thanks all.

Comments

  • wbauk2002
    wbauk2002 Registered Posts: 110 ? ? ?
    There should be a policy in place to what to capitalise, usually 50 isnt worth it, would you want to depreciate 50? No reason for it, little effect on p&l, usually very small businesses is about over 100, where I work its anything over 2000
  • Monsoon
    Monsoon FMAAT, AAT Licensed Accountant Posts: 4,071 ? ? ?
    My capitalisation limits are roughly:

    Very small business £300

    Larger small business £500
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