Fixed asset and depreciation

[tinman0]

I have a small question.

I have a couple of Ltd companies, all of which I'm bringing to a close now. They were for a previous life and I'm moving on. Just working on the accounts now.

I'm showing a fixed asset of £8k, which I'm assuming is all the old computer equipment. Nearly all of the computer is/was scrap. Routers that have died and are worthless, and anything that is still working is worthless. A 1Ghz P3 40GB server would cost more in postage to send than I could realise for it if I was ever to even find a buyer for it.

I have a 25% depreciation line that I imagine I can bring into it, but I'm not sure where that shows in the accounts. And do I need to devalue the kit over 3 years, or can I write them off one year, or maybe over two years. I could write it off over several years I suppose.

[Eric Mc]

How long has the equipment been in the company and what deprecoiation has been applied to it so far?

[tinman0]

Eric Mc said:

How long has the equipment been in the company and what deprecoiation has been applied to it so far?

Years. Most of it dates from 2000 I would think. I think its been depreciated at 20% a year.

Originally it was quite valuable, a router costing £6k and there were 3 as a small example. But today, if they were still working, they would be worthless. But I still have 7k or so on the balance sheet. Frankly, a scrap man would charge me to take them away.

[Eric Mc]

Is £7,000 the Net Book Value?