Should this be capitalised?

JodieR

Client set up business last year - he's bought 4 vans and kitted them out with equipment to clean gutters etc. The equipment has cost just under £3k in total, but it consists of lots of components from various suppliers purchased throughout the year, and few of the individual components come to over £100. Should the total be capitalised? It's going to be a nightmare to keep track of it all in future years if I do!

Monsoon

Do the components add up to one piece of equipment? Or multiple ones?
If bought throughout the year, it sounds like they are separate pieces of equipment, in which case I'd be inclined to look at each individually and not as a whole "kitted out van".

I only capitalise anything over £300-£500 depending on the size of the business.