Ron5 wrote: As I have stated before, book value of the guns & sonars will be based on their actual acquisition cost, not a theoretical replacement cost.
Sorry Ron, the MoD have a lot of downloads about the changes they make to their reporting. As RAB happened at the beginning of this millennium, the changes since may make interesting reading (for understanding the published figures):
"The MOD is one of the largest owners of non-current assets in the United Kingdom. The
stewardship and efficient management of the Department’s assets are the responsibility of Top Level Budget (TLB) Holders. MOD non-current assets are formally revalued on a five-yearly basis, but are uplifted annually using indexation.
This valuation method complies with financial reporting standards with values being on an existing
use basis rather than market value at disposal. Overseas estates for which the Crown holds no
legal title, but which are used for garrison and training purposes by British Forces, are included in the MOD non-current assets register. UK bases occupied by visiting forces are also included.
As at 31 March2017, the value of MOD non-current assets stood at £130.6 billion
, which is a rise of £2.8 billion compared to the
figure for the previous year. The recent increases in value have
been caused mainly by the reclassification of inventory as non-current assets.
The largest value non-current assets were Single Use Military Equipment at
£33.1billion and Land and Buildings worth £31.6billion. "
What's £2 or 3 bn between friends? The sums are so big that no one would have noticed.