Published date: 18 January 2024
Awarded contract - This means that the contract has been awarded to a supplier.
Contract summary
Industry
Accounting and auditing services - 79210000
Location of contract
London
Value of contract
£100,240
Procurement reference
tender_409097/1303592
Published date
18 January 2024
Closing date
8 January 2024
Closing time
11:59pm
Contract start date
10 January 2024
Contract end date
31 March 2024
Contract type
Service contract
Procedure type
Call-off from a framework agreement
A mini-competition or direct purchase from a pre-established framework agreement.
Contract is suitable for SMEs?
No
Contract is suitable for VCSEs?
No
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.
Award information
Awarded date
10 January 2024
Contract start date
10 January 2024
Contract end date
31 March 2024
Total value of contract
£100,240
This contract was awarded to 1 supplier.
Gerald Eve
Address
72 Welbeck Street, Greater London W1G0AY
Reference
No reference - other
Supplier is SME?
No
Supplier is VCSE?
No
About the buyer
Contact name
Lewis Dance
Address
Guildhall
London
EC2P 2EJ
England
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Closing: 8 January 2024, 11:59pm
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