Land & Buildings revaluation

I have a balance sheet showing Investment Property Land & Buildings with an opening balance of £2,058,332.71 and an accumulated depreciation opening balance of £35,439.00. There was a journal entry called Post Audit DR Acc Dep £23395, CR Retained profit. According to the Asset register the £23395 was the accumulated depreciation brought forward on the 1st April 2014. I believe this has something to do with the new FRS102.

I now need to revalue the investment property land and buildings to £3,415,359.00. On the asset register the original value of the land is down as £660,000 and is not subject to depreciation and buildings at £1,398,333.

The new valuation is land £550,000 and buildings £2,865,358.

Assistance would be appreciated


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