Award

NEPRO3 - 2024 CAPITAL ACCOUNTING ASSET VALUATION

CITY OF LONDON CORPORATION

This public procurement record has 1 release in its history.

Award

18 Jan 2024 at 14:50

Award Notice
Summary of the contracting process

The City of London Corporation has awarded a contract for accounting and auditing services to Gerald Eve LLP, valued at £100,240 GBP. This procurement involves providing valuations for capital accounting purposes as of 31st March 2024, with a contract period from 10th January 2024 to 31st March 2024. The tender was procured through a selective method, specifically a call-off from a framework agreement, and is in the award stage.

This tender presents an opportunity for businesses specializing in accounting and auditing services, especially those experienced in providing regulated purpose valuations and following IAS 16 and CIPFA codes. The contract, awarded by the City of London Corporation, requires expertise in financial statements valuation and conflict of interest declaration processes. Businesses based in London, United Kingdom, may find this tender particularly relevant for expanding their service offerings within the accounting and auditing industry.

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Notice Information

Notice Title

NEPRO3 - 2024 CAPITAL ACCOUNTING ASSET VALUATION

Notice Description

Gerald Eve LLP have been appointed by Bloom Procurement Services Ltd on behalf of The Mayor and Commonality and Citizens of The City of London (the City), to provide valuations for capital accounting purposes for incorporation in the City's accounts under CIPFA, as of 31 March 2024, for inclusion in the City's Annual Report and Financial Statements and for internal management and accounting purposes. Valuations required are for financial statements and accordingly are Regulated Purpose Valuations. A schedule of properties to be valued as of 31st March 2024 is appended to this Work Order at Appendix 1. In accordance with IAS 16 and the CIPFA Code, an apportionment of the value attributable to the buildings, together with an estimate of their useful economic life is required. Where an item of property, plant and equipment with a cost that is significant in relation to the total cost of the item, it shall be depreciated separately. Basis of Valuation for Operational Property - "Existing Use Value" (or "Depreciated Replacement cost" where necessary) Basis of Valuation for HRA Dwellings - "Existing Use Value - Social Discount" Investment properties and those properties held outside of City Fund are not in scope of this contract. Audit Gerald Eve LLP will be required to provide on request any calculations, bases of judgement or supporting/comparable information underlying the valuations as necessary to satisfy follow up audit queries and to attend meetings with both the City's finance team and auditors to facilitate prompt resolution of said audit queries. Conflicts of interest Gerald Eve LLP shall declare to the City any conflict of interest prior to commencing the valuation process in any given year.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-c63acd8a-defc-4539-acd8-d1c86d4358ef
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/42197044-2702-4878-8108-264f6ecd375b
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Call-off from a framework agreement
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

79 - Business services: law, marketing, consulting, recruitment, printing and security

CPV Codes

79210000 - Accounting and auditing services

Notice Value(s)

Tender Value
£100,240 £100K-£500K
Lots Value
Not specified
Awards Value
£100,240 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
18 Jan 20242 years ago
Submission Deadline
8 Jan 2024Expired
Future Notice Date
Not specified
Award Date
10 Jan 20242 years ago
Contract Period
10 Jan 2024 - 31 Mar 2024 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
CITY OF LONDON CORPORATION
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
EC2P 2EJ
Post Town
Central London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI4 Inner London - East
Small Region (ITL 3)
TLI43 Haringey and Islington
Delivery Location
TLI London
Local Authority
Islington
Electoral Ward
Clerkenwell
Westminster Constituency
Islington South and Finsbury

Supplier Information

Number of Suppliers
1
Supplier Name

GERALD EVE

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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