DEPRECIATION

The following useful lives and depreciation rates have been used in the calculation of depreciation:

• Council dwellings – 60-80 years
• Other operating buildings – 40-60 years
• Vehicles, plant, and equipment – 5-15 years
• Infrastructure assets – 10-75 years
• Intangible assets – 5-10 years

REVALUATIONS

The council carries out a rolling programme that ensures that all property, plant and equipment required to be measured at current value is revalued at least every five years. This includes Council Dwellings, Other Land & Buildings, Community Assets and Surplus Assets. Council dwellings are valued annually. Valuations of land and buildings (including council dwellings) were carried out by the council's external valuers in accordance with the methodologies and bases for estimation set out in the professional standards of the Royal Institution of Chartered Surveyors. Valuations of vehicles, plant and equipment are based on historic cost which is not considered to be materially different to current value.

The significant basis applied in estimating the current values of property, plant and equipment are:

• Non-specialised properties occupied by the council or used for the purpose of service delivery, have been valued on the basis of Existing Use Value (EUV)
• Specialised properties, for which there is no recognised market, have been valued by the Depreciated Replacement Cost (DRC) method
• Surplus assets have been valued on the basis of Fair Value (FV).

The council has applied below indices for assets not included in the rolling programme for 2025/26: