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The Investment property register is the property-by-property schedule for a client's investment property. For each property it captures the acquisition, any subsequent cost additions or fair value revaluations, and any disposal, and it reconciles the total carrying value back to the trial balance. It is the source template in this cluster: the Investment property summary rolls its detail up into the note-ready movement table, and the Investment property (reconciled through IPR) account template displays its reconciled figure directly on the ledger account.

Table of contents 

When should I use this template?

Use this template whenever a client holds investment property that needs a supporting schedule, with one row of detail per property covering acquisition cost, in-year cost additions, fair value movements, and any disposals. Add it to the workflow before adding the Investment property summary or applying the Investment property (reconciled through IPR) account template, as both depend on data held here.

Before you start

  • Confirm the client's investment property is mapped to the account range this template expects (account 1109, Investment properties, by default). Your firm's own account mapping may use a different code. For help with adding reconciliations to a workflow, see How do I set up Workflows and Workflow Working Screens?
  • Have supporting documents ready (purchase contracts, valuation reports, disposal completion statements). There is a file attachment field against both the acquisition and each movement line.
  • If your workflow includes the UK Corporation Tax package, the tax treatment of each addition can be picked up automatically from the Fixed asset additions template there. Check that template is populated first if you want that link to work.

Background

Investment property is normally held at fair value under FRS 102, with movements in that fair value recognised in profit or loss rather than depreciated over a useful life. The one exception is investment property let to another group company, which can be held at cost instead. That is why this register has no depreciation column. Instead, each movement line lets you record either an additional cost or a fair value revaluation for a property, and the revaluation figure flows straight to the profit and loss account via the accounts note rather than being spread over time.

Steps

  1. Check for the rollforward reminder. If a prior period exists, the template reminds you to run Copy Data so last year's properties and their history carry forward before you start.
  2. Add each property. For every investment property, enter the acquisition date, a property name, and the acquisition cost. You can attach supporting documents against this row.
  3. Record movements against each property. Underneath each property, add a line for every cost addition or revaluation that has happened to it. Enter a date, a description, and a value in either the Cost column or the Revaluation column, not both. If you fill in both on the same line, a warning appears reminding you to use only one.
  4. Record a disposal if the property was sold. Set the Disposal field to Full or Partial.
    • Full disposal: enter the disposal date, a description, and the disposal proceeds. The profit or loss on disposal is calculated automatically as proceeds less carrying value.
    • Partial disposal: enter the disposal date, description, and the amount disposed of, then enter the profit or loss on disposal yourself, since only part of the property's carrying value is being removed.
  5. Check the account balance breakdown at the top of the template. This lists the trial balance value for each account in the mapped range, for the current period and (where it exists) the prior period, so you can see what you are reconciling against before you get into the detail.
  6. Review the reconciliation. The template totals the carrying value of every property (net of any disposals) and compares it with the trial balance. If there is a difference, an unreconciled indicator appears showing the trial balance value, the workings value, and the difference. Resolve this before marking the template complete.

What flows through to the rest of the accounts/workflow?

  • The Investment property (reconciled through IPR) account template reads this register's total carrying value and reconciliation status and displays them directly against the investment property ledger account, with a link back to this register.
  • The Investment property summary reads every property and movement line here to build the note-ready movement table (opening balance, additions, disposals, revaluations, closing balance).
  • If the workflow includes the UK Corporation Tax package, additions, disposals, and their tax treatment feed through to the tax fixed asset tracking templates there, and any tax treatment you set (or that defaults in from those templates) is remembered from year to year.

Note that this register can only be marked as reconciled once at least one property has actually been entered. Unlike the Investment property summary, it cannot be ticked complete on an empty template even if the trial balance value is nil.

What rolls forward next year?

Every property and its full movement history rolls forward automatically, so you do not re-enter prior years' entries. Each year you only need to add the lines dated in the new period.

  • If a property was fully disposed of in the period, all of its detail (acquisition, movements, disposal fields) is cleared out and will not reappear next year, since the property is gone.
  • If a property was partially disposed of, the disposal date, description, and reduced cost or carrying value roll forward so the remaining interest in the property continues to be tracked.
  • The reminder to run Copy Data appears again each year until dismissed.

Where the data comes from

  • The account balance you are reconciling against comes from the trial balance, for the account range mapped to investment property (1109 by default).
  • Every property, movement, and disposal detail is entered directly on this template. There is no other source for it.
  • Where the UK Corporation Tax package is in use, the default tax treatment for an addition can be pulled in from the Fixed asset additions template there.

Frequently asked questions

Why is there no depreciation column?

Investment property is normally held at fair value under FRS 102, with fair value movements taken to profit or loss rather than depreciated. This register mirrors that by giving you a revaluation column instead of a depreciation one.

What if I enter both a cost and a revaluation on the same movement line?

The template shows a warning telling you to use only one of the two per line, since they represent different things: additional expenditure versus a change in fair value.

The account template says it should not be used on this account - why?

This usually means the Investment property register has not been added to the workflow yet, or the account you have applied the account template to falls outside the mapped investment property account range. Add this register to the workflow (or check your account mapping) and the message should clear.

Can I mark this template complete with no properties entered?

No. This register needs at least one property entered before it can be reconciled. If the client genuinely has no investment property, the Investment property summary can still be marked complete on its own.