Crockery set and small items for kitchen e.g. utensils, plates etc.

[something urgent]

Hi,

Please advise purchase of crockery set for office for staff use is revenue expense or capital expense.

regards,

 

[Walkol]

P&L Expense

 

[something urgent]

thanks for the advice.

 

[Walkol]

For future reference (all IMO)

Do not capitalise anything unless the following conditions are met....

1) It will be used, and bring value to the company for more than 12 months

2) The individual cost of the item is significant to your business to warrant being spread over multiple years (eg, we have a £2k minimum spend as a rule of thumb, where as a small single man business may have a £500 rule of thumb).

In this case, I doubt that the crockery will be of a significant expense.