Asset Register

[homehydro]

Hi, quick question - if I have an asset register that at the end of last year (after years of depreciation) was worth £10k and with only one more year to run it would be worth zero - would that mean that if I sold it (the assets) 6 months into the current year it should be worth £5k if I wanted to sell it.
many thanks

 

[taxattack]

Hi, quick question - if I have an asset register that at the end of last year (after years of depreciation) was worth £10k and with only one more year to run it would be worth zero - would that mean that if I sold it (the assets) 6 months into the current year it should be worth £5k if I wanted to sell it.
many thanks

Not sure if this answers your question, but market value is not necessarily the same as the depreciated amount.

Chris

 

[homehydro]

but can I sell it for the depreciated amount if I wish?

plus most is office and computer related so of no real value

 

[Zeno]

You really don't want Prof. Zeno's lecture on what depreciated historic cost actually represents and the difference between this an market value so perhaps if you tell us why you want to sell it and to whom?

 

[GaryMc]

You really don't want Prof. Zeno's lecture on what depreciated historic cost actually represents and the difference between this an market value so perhaps if you tell us why you want to sell it and to whom?

Go on you know you want to impart that wisdom Do it anyway

 

[elaine@cheapaccounting]

You really don't want Prof. Zeno's lecture on what depreciated historic cost actually represents and the difference between this an market value so perhaps if you tell us why you want to sell it and to whom?

oh yes please Prof Zeno - I am all ears!

 

[taxattack]

but can I sell it for the depreciated amount if I wish?

plus most is office and computer related so of no real value

Is this perchance company assets which you are planning to buy yourself from the company?

Chris

 

[homehydro]

ok from one ltd to another ltd of which I own both, asset value is small and yes market value may be slightly higher .