Award

Asset Valuation Brief

EAST HAMPSHIRE DISTRICT COUNCIL

This public procurement record has 1 release in its history.

Award

11 Dec 2017 at 17:45

Award Notice
Summary of the contracting process

The recent procurement process, titled "Asset Valuation Brief," was conducted by East Hampshire District Council, focusing on the provision of insurance consultancy services. This procurement falls under the wider category of services and is situated in the South East region of the United Kingdom. The procurement method employed was an open procedure, with the tender period ending on 1 January 2017. The awarded contract, valued at £37,800, commenced on 11 December 2017 and is set to conclude on 31 March 2018.

This tender presents significant opportunities for growth, particularly for small and medium-sized enterprises (SMEs) and voluntary, community, and social enterprises (VCSEs) engaged in consultancy services. Businesses that specialise in asset valuation and financial reporting in compliance with IFRS and CIPFA standards would be particularly well-suited to compete for this contract. The nature of the work requires thorough understanding and expertise in asset management, opening up avenues for organisations looking to expand their market presence and service offerings in the public sector.

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Notice Information

Notice Title

Asset Valuation Brief

Notice Description

The purpose of the Brief is to inform potential Suppliers providing quotations or Quotes for the Services and to form the basis of a specification of work to be included within the Agreement. Councils are required to report the value of their land and building assets within their financial statements in line with the requirements of the International Financial Reporting Standards (IFRS), and the Chartered Institute of Public Finance and Accountancy's (CIPFA) Code of Practice on Local Authority Capital Accounting. Investment Assets are required to be revalued annually, although they need be inspected only every five years. Non-Investment Assets must be revalued at least once every five years. At the end of each Council Financial Year, the Council is required to assess whether there is any indication that its assets may be impaired (i.e. whether their carrying amount is higher than their recoverable amount). Accordingly, an Impairment Statement must be reported each year.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-1a163fcb-2cd7-427d-a0da-4cc3193ef7d2
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/5b8dec10-46a1-431d-84d3-77c33a005885
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
SME, VCSE
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66519310 - Insurance consultancy services

Notice Value(s)

Tender Value
£37,800 Under £100K
Lots Value
Not specified
Awards Value
£37,800 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
11 Dec 20178 years ago
Submission Deadline
1 Jan 2017Expired
Future Notice Date
Not specified
Award Date
8 Dec 20178 years ago
Contract Period
11 Dec 2017 - 31 Mar 2018 1-6 months
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
EAST HAMPSHIRE DISTRICT COUNCIL
Contact Name
Procurement
Contact Email
5c.tendermanagement@capita.co.uk
Contact Phone
+44 2382021431

Buyer Location

Locality
PETERSFIELD
Postcode
GU31 4EX
Post Town
Guildford
Country
England
Major Region (ITL 1)
TLJ South East (England)
Basic Region (ITL 2)
TLJ3 Hampshire and Isle of Wight
Small Region (ITL 3)
TLJ36 Central Hampshire
Delivery Location
TLJ South East (England)
Local Authority
East Hampshire
Electoral Ward
Petersfield Heath
Westminster Constituency
East Hampshire

Supplier Information

Number of Suppliers
1
Supplier Name

VAIL WILLIAMS

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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