"At Strawhorn Surveyors, we understand that accurate property valuations are key to your academy’s financial reporting."
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While the five-year cycle is standard, relying solely on it can leave your Trust exposed. Several factors may justify an earlier update to ensure compliance, audit readiness, and strategic decision-making.
“Maintaining current and accurate valuations isn’t just about reporting — it’s about protecting the integrity and future of your school estate.”
“We would have no hesitation in recommending Strawhorn Surveyors to other Academy Trusts seeking reliable and professional valuation support."
“During the on-boarding process when we are spinning so many plates, it is reassuring to have a reliable company to produce valuations, in professional timely manner”
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Academies face unique challenges when valuing their estates for financial statements, statutory accounts, and asset management. Understanding the complexities of Depreciated Replacement Cost (DRC) methodology, funding audits and SORP 2019/FRS 102 accounting standards is crucial for financial transparency. My role is to provide clear, reliable, and compliant valuations that give Academy Trusts confidence in their reporting.
A Depreciated Replacement Cost (DRC) valuation estimates the cost to rebuild a school using modern construction methods and materials, less depreciation due to age, condition, and wear. The DRC method gives a true reflection of the value of a school’s physical estate, ensuring fair representation in financial statements and compliance with accounting standards.
Typically, academies should update their DRC valuation every five years. However, if significant changes occur to the building or there are impending audits, more frequent updates may be required.
An incorrect valuation can lead to discrepancies in financial statements, which could affect audit results and potentially hinder financial planning. That’s why it’s essential to work with an RICS Red Book-compliant surveyor to ensure the valuation is accurate.
In brief to facilitate an accurate valuation, academies should provide:
• Floor Plans & Site Maps: These help surveyors understand the structure and layout of the property.
• Renovation or Extension Details: Any recent changes or improvements to the property that may affect the valuation.
• Building Age & Condition: Information about the school’s age and its overall state of repair is essential for assessing depreciation.
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