Whilst the function and benefits of effective plant and machinery are clearly understood, these tangible fixed assets are often overlooked as a financial tool in the development or reorganisation of a business until an accurate assessment of their true value becomes a necessity.

Using such assets as collateral for a loan, as part of a corporate restructure or recovery, or when a business is to be sold, are the most frequent triggers for a detailed and accurate estimate of values.

But as the book value isn’t a reliable guide to open market value - or acceptable for security, acquisition or disposal purposes - approved valuations must be produced so that business strategies can be pursued.