{"id":3647,"date":"2025-05-07T07:56:17","date_gmt":"2025-05-07T07:56:17","guid":{"rendered":"https:\/\/expenseplus.co.uk\/blog\/?p=3647"},"modified":"2026-02-10T15:42:39","modified_gmt":"2026-02-10T15:42:39","slug":"fixed-assets-charity-accounting","status":"publish","type":"post","link":"https:\/\/expenseplus.co.uk\/fund-accounting\/fixed-assets-charity-accounting\/","title":{"rendered":"Fixed Assets in Charity Accounting"},"content":{"rendered":"\n<p>This blog covers what fixed assets are, how they are accounted for within charity accounts and why this is important. It explains the concepts of <strong>capitalising fixed assets<\/strong> and <strong>depreciation of fixed assets<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-are-fixed-assets\">What are fixed assets?<\/h2>\n\n\n\n<p>Fixed Assets are resources that fulfil all three of these criteria:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>You can measure the cost and the item is over a specified value (called the \u2018capitalisation value&#8217;);<\/li>\n\n\n\n<li>Owned and used by your charity to carry out its day-to-day activities and operations;<\/li>\n\n\n\n<li>Not likely to be disposed of or sold within 12 months.<\/li>\n<\/ul>\n\n\n\n<p>Examples may include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Computer and audio-visual equipment<\/li>\n\n\n\n<li>Musical instruments<\/li>\n\n\n\n<li>Fixtures and fittings<\/li>\n\n\n\n<li>Machinery and motor vehicles<\/li>\n\n\n\n<li>Freehold land and buildings<\/li>\n<\/ul>\n\n\n\n<p>When you purchase a fixed asset, rather than appearing as expenditure, the value of the<br>fixed asset shows on the charity\u2019s balance sheet. This process is called <strong>capitalisation<\/strong>.<\/p>\n\n\n\n<p>Most fixed assets are expected to last and be used over a number of years. This varies by<br>asset type and is commonly referred to as the <strong>useful lifetime<\/strong> of the fixed asset.<\/p>\n\n\n\n<p>Instead of appearing as expenditure upfront, the cost of fixed asset purchases is spread over<br>the useful lifetime of the asset. This process is called <strong>depreciation<\/strong>.<\/p>\n\n\n\n<p>When a fixed asset is depreciated, this reduces its value shown on the charity\u2019s balance sheet.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"has-background\" style=\"background:linear-gradient(135deg,rgb(238,238,238) 100%,rgb(169,184,195) 100%)\">Charities with an income of less than \u00a3250k* per year are typically able to create accounts on a\u00a0<a href=\"https:\/\/expenseplus.co.uk\/blog\/receipts-and-payments-vs-accruals-accounting\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Receipts and Payments basis<\/strong><\/a>\u00a0(also known as cash accounting), rather than an accruals basis. Where this is the case, asset purchases are not capitalised as described above. Instead, you should record purchases as &#8216;expenditure&#8217; and then state their current value on the <a href=\"https:\/\/expenseplus.co.uk\/fund-accounting\/receipts-payments-year-end-accounts\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Assets and Liabilities statement at year-end<\/strong><\/a>. *<em><em>The <a href=\"https:\/\/expenseplus.co.uk\/fund-accounting\/independent-examination-of-charity-accounts\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>reporting threshold will be increasing<\/strong><\/a> to \u00a3500,000 for financial years ending on or after 30th Sept 2026<\/em><\/em>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p>In the video below, Tim Wyatt, from <a href=\"http:\/\/www.wyattandco.net\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Wyatt &amp; Co Chartered Accountants<\/strong><\/a>, explains more about capitalisation and depreciation.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Essentials of Fund Accounting - Understanding Fixed Assets in Charity Accounting\" width=\"1170\" height=\"658\" src=\"https:\/\/www.youtube.com\/embed\/5Fsq6QWMcIw?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-does-capitalisation-of-fixed-assets-work\">How does capitalisation of fixed assets work?<\/h2>\n\n\n\n<p>When a fixed asset is purchased, the purchase is recorded to a fixed asset category (rather than an expenditure category) and is recorded on the balance sheet. <\/p>\n\n\n\n<p>From a balance sheet perspective, when a fixed asset is purchased:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The cash line on the balance sheet decreases (as money is spent); and&nbsp;<\/li>\n\n\n\n<li>The fixed assets line on the balance sheet increases.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>Thus, the total net assets of the charity do not<em> <\/em>change.&nbsp;<\/p>\n\n\n\n<p>For example, if a charity spends \u00a340,000 to purchase a minibus:<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-regular\"><table class=\"has-background\" style=\"background-color:#0792e34d\"><thead><tr><th><strong>Balance Sheet<\/strong><\/th><th><strong>Purchase of a Fixed Asset<\/strong><\/th><\/tr><\/thead><tbody><tr><td>Cash<\/td><td>DECREASES by \u00a340,000<\/td><\/tr><tr><td>Fixed Assets<\/td><td>INCREASES by \u00a340,000<\/td><\/tr><tr><td>Total Assets<\/td><td>No Change<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-why-is-capitalisation-of-fixed-assets-important\">Why is capitalisation of fixed assets important?<\/h2>\n\n\n\n<p>Capitalising fixed assets helps provide a truer and more accurate picture of a charity\u2019s finances. Fixed assets form part of a charity\u2019s overall asset value.&nbsp;<\/p>\n\n\n\n<p>If fixed asset purchases aren\u2019t capitalised, but treated as expenditure, then every time you purchase a fixed asset, expenditure would spike and the total asset value of the charity would drop.<\/p>\n\n\n\n<p>For example, imagine a charity with \u00a360,000 of cash purchases a minibus costing \u00a340,000.<\/p>\n\n\n\n<p>If they <em>capitalised<\/em> the minibus purchase, the balance sheet would correctly show as \u00a320,000 in cash <em>plus <\/em>the \u00a340,000 value of the minibus.<\/p>\n\n\n\n<p>If the purchase of the minibus<em> wasn\u2019t <\/em>capitalised, then expenditure would increase by \u00a340,000 and the net value of the charity would decrease by \u00a340,000 (as they paid the \u00a340,000 from the bank account). As a result, the charity\u2019s asset value would wrongly show as \u00a320,000.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-background\" style=\"background-color:#0792e34d\"><thead><tr><th><strong>Balance Sheet<\/strong><\/th><th><strong>Prior to Minibus Purchase<\/strong><\/th><th><strong>Minibus Purchase Capitalised<\/strong><\/th><th><strong>Minibus wrongly treated as expenditure<\/strong><\/th><\/tr><\/thead><tbody><tr><td>Cash<\/td><td>\u00a360,000<\/td><td>\u00a320,000<\/td><td>\u00a320,000<\/td><\/tr><tr><td>Fixed Assets<\/td><td>\u00a30<\/td><td>\u00a340,000<\/td><td>\u00a30<\/td><\/tr><tr><td>Total Assets<\/td><td>\u00a360,000<\/td><td>\u00a360,000<\/td><td>\u00a320,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-which-purchases-should-be-capitalised\">Which purchases should be capitalised?<\/h2>\n\n\n\n<p>The criteria for when to capitalise fixed asset purchases can differ between charities. Typically you do not capitalise low-value purchases. The value at which fixed asset purchases are capitalised is known as the <strong><em>capitalisation threshold<\/em>.<\/strong><\/p>\n\n\n\n<p>For example, many smaller and medium-sized charities will have a capitalisation threshold that is between \u00a3500 to \u00a31,000.<\/p>\n\n\n\n<p>However, this is not a rule. For charities with higher income, the capitalisation threshold may be higher. Your charity accounting policy,<strong> <\/strong>which you can find within your year-end accounts, sets out the details of when to capitalise an asset purchase.<\/p>\n\n\n\n<p>Where the value of a fixed asset purchase is below the capitalisation threshold, the purchase is treated as expenditure (i.e. the purchase is not capitalised).<\/p>\n\n\n\n<p>This is sometimes referred to &#8216;being written off in the SOFA&#8217; because the purchase cost is included in the expenditure figure in your <a href=\"https:\/\/expenseplus.co.uk\/fund-accounting\/what-is-the-sofa-report-in-charity-accounts\/\" target=\"_blank\" rel=\"noreferrer noopener\">Statement of Financial Activities (SOFA)<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-over-how-many-years-should-fixed-assets-be-depreciated\">Over how many years should fixed assets be depreciated?<\/h2>\n\n\n\n<p>Most fixed assets are expected to last and be used over several years. This is commonly referred to as the <strong><em>useful lifetime<\/em><\/strong> of the fixed asset. It determines across how many years you spread the cost of a fixed asset.<\/p>\n\n\n\n<p>The useful lifetime varies by asset type. For example, electrical items such as laptops may have a useful lifetime of 3 or 4 years. For items with a longer expected lifetime, such as tables and chairs, this may be 5 or 10 years.<\/p>\n\n\n\n<p>The useful lifetime of a fixed asset is also referred to as the <strong><em>depreciation period<\/em><\/strong>.<\/p>\n\n\n\n<p>Again, your charity accounting policy sets out the details of the depreciation periods for different fixed asset types.<\/p>\n\n\n\n<p>Whilst you may hope that fixed asset purchases last for longer than the depreciation period (e.g. a laptop could last 7 to 8 years), it\u2019s important not<em> <\/em>to overstate the depreciation period, as doing so could lead to your charity overstating its net assets on the balance sheet.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-does-depreciation-work\">How does depreciation work?<\/h2>\n\n\n\n<p>Instead of appearing as expenditure upfront, the cost of fixed asset purchases is spread over the useful lifetime of the asset. This process is called <strong><em>depreciation<\/em><\/strong>.<\/p>\n\n\n\n<p>For example, you purchase a catering oven for \u00a33,000. If the catering oven has a depreciation period of 3 years, then \u00a31000 of expenditure will show in each financial year.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-background\" style=\"background-color:#0792e34d\"><thead><tr><th><strong>Year 1<\/strong><\/th><th><strong>Year 2<\/strong><\/th><th><strong>Year 3<\/strong><\/th><\/tr><\/thead><tbody><tr><td>\u00a31,000<\/td><td>\u00a31,000<\/td><td>\u00a31,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>When a fixed asset is depreciated, the fixed asset line on the balance sheet decreases. This also decreases the organisation&#8217;s total asset value.&nbsp;<\/p>\n\n\n\n<p>Depreciation is classed as expenditure. It is included in both the Income and Expenditure reports on ExpensePlus, as well as the <a href=\"https:\/\/expenseplus.co.uk\/fund-accounting\/what-is-the-sofa-report-in-charity-accounts\/\" target=\"_blank\" rel=\"noreferrer noopener\">Statement of Financial Activities (SOFA)<\/a> in your year-end accounts.<\/p>\n\n\n\n<p>Each year when the catering oven fixed asset is depreciated, on the balance sheet:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The fixed asset value decreases by \u00a31,000<\/li>\n\n\n\n<li>Expenditure increases by \u00a31,000<\/li>\n<\/ul>\n\n\n\n<p>In this example, this will happen three times because the depreciation period of the asset is 3 years. After this period, the fixed asset value is zero.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-background\" style=\"background-color:#0792e34d\"><thead><tr><th><\/th><th><strong>When the catering oven is purchased<\/strong><\/th><th><strong>At the end of Year 1<\/strong><\/th><th><strong>At the end of Year 2<\/strong><\/th><th><strong>At the end of Year 3<\/strong><\/th><\/tr><\/thead><tbody><tr><td>Fixed Asset Value<\/td><td>+ \u00a33,000<\/td><td>-\u00a31,000<br>(asset value \u00a32,000)<\/td><td>-\u00a31,000<br>(asset value \u00a31,000)<\/td><td>-\u00a31,000<br>(asset value \u00a30)<\/td><\/tr><tr><td>Expenditure<\/td><td>\u00a30<\/td><td>+\u00a31,000<\/td><td>+\u00a31,000<\/td><td>+\u00a31,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-is-depreciation-always-linear\">Is depreciation always linear?<\/h2>\n\n\n\n<p>Typically, yes. Remember, depreciation is about spreading the purchase cost of the fixed asset over the useful lifetime of the asset.<\/p>\n\n\n\n<p>Depreciation is <em>not <\/em>about trying to make the value of the fixed asset on your balance sheet reflect the current value of your fixed asset. For example, let&#8217;s take the minibus example from earlier in this article. Even though a minibus may lose 50% of its value in the first year it would typically be depreciated in a linear fashion across the lifetime of the asset (e.g. \u00a34,000 per year over 10 years).<\/p>\n\n\n\n<p>The exception to this is with land and building assets. Typically, these do not<em> <\/em>depreciate and instead should be revalued at least every 5 years. This article does not cover revaluation.<\/p>\n\n\n\n<p>Fixed Assets are typically depreciated at the end of each financial year and depreciation isn\u2019t<em> <\/em>applied pro-rata. For example, you purchase a laptop worth \u00a31,500 and depreciate it over 3 years. At the end of year 1, it would depreciate by \u00a3500 regardless<em> <\/em>of whether it was purchased in month 1 of that year or month 10.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-can-i-use-my-fixed-asset-register-to-track-assets\">Can I use my fixed asset register to track assets?<\/h2>\n\n\n\n<p>Typically, you will need a spreadsheet to track assets, which is separate<em> <\/em>from your fixed asset register for accounting. This is because when tracking assets you may wish to:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>Track assets below<em> <\/em>the <em><strong>capitalisation threshold<\/strong><\/em> (and therefore do not<em> <\/em>appear in your fixed asset register).<\/li>\n\n\n\n<li>Track <em><strong>fully depreciated<\/strong><\/em> assets that no longer appear in your fixed asset register.<\/li>\n\n\n\n<li>Store non-financial information such as a photograph, the location of the asset, asset ID, when you last checked it, insurance arrangements, etc.<\/li>\n<\/ol>\n\n\n\n<p>You may want to track the current asset value or replacement value for insurance purposes. These differ from the depreciated fixed asset value within your accounting fixed asset register.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-do-fixed-assets-need-to-be-stated-in-year-end-accounts\">Do fixed assets need to be stated in year-end accounts?<\/h2>\n\n\n\n<p>As well as the fixed assets value on your Balance Sheet, your year-end accounts will include a summary note of any fixed asset additions, disposals, revaluations, and depreciation during the year.&nbsp;<\/p>\n\n\n\n<p>If you\u2019re unsure about this, you should speak to your Independent Examiner or Auditor. As we\u2019ve mentioned above, your year-end accounts should also include various accounting policies, including one that covers the capitalisation and depreciation of fixed assets.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-can-expenseplus-help\">How can ExpensePlus help?<\/h2>\n\n\n\n<p><a href=\"http:\/\/expenseplus.co.uk\/\" target=\"_blank\" rel=\"noreferrer noopener\">ExpensePlus<\/a> has an inbuilt fixed asset register, where you can set a depreciation period for each of your fixed assets.<\/p>\n\n\n\n<p>When you enter a purchase, by simply recording it against a fixed asset category (rather than an expenditure category) the asset will automatically be capitalised, and will automatically appear both on your fixed asset register and on your balance sheet.<\/p>\n\n\n\n<p>At year-end, you can depreciate fixed assets at the click of a button, and ExpensePlus automatically calculates the depreciation amount for you.<\/p>\n\n\n\n<p>To find out more, check out this video <a href=\"https:\/\/support.expenseplus.co.uk\/article\/140-fixed-assets\" target=\"_blank\" rel=\"noreferrer noopener\">Fixed Assets Module overview<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This blog covers fixed assets and how they are accounted for within charity accounting. Learn about capitalisation and depreciation of assets.<\/p>\n","protected":false},"author":1,"featured_media":3648,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-3647","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fund-accounting"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Fixed Assets in Charity Accounting | Fund Accounting Blog<\/title>\n<meta name=\"description\" content=\"This blog covers fixed assets and how they are accounted for within charity accounting. Learn about capitalisation and depreciation of assets.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/expenseplus.co.uk\/fund-accounting\/fixed-assets-charity-accounting\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fixed Assets in Charity Accounting\" \/>\n<meta property=\"og:description\" content=\"This blog covers fixed assets and how they are accounted for within charity accounting. 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