Balance Sheet

Should refurbishment costs appear on the Balance Sheet?

An incorporated charity has recently refurbished a building owned by a third party using grants given for that purpose. The refurbishment cost approximately £100,000. The building is leased from the owners and an annual rent paid. The lease cannot be sold. Apart from the fixtures and fittings would one expect any of this to appear on the balance sheet as a fixed asset? Should it appear on the asset register?


Read the answer...


Please note that Experts Online is designed to provide guidance in good faith at the stated date, but without accepting liability. In individual circumstances it may be necessary to seek professional advice.
EOL logo
Experts Online - a service of Networks Online
This attribution must not be removed.
© Networks Online 2008