0 the value that a company gives an asset in its accounts after reducing it to allow for depreciation: --
The statutory reserve in clause 7 will be set at the difference between the written-down value of public dividend capital—say, £2 billion—and the nominal value of the shares.
This is not a lot of money but is probably considerably more than their written-down value in relation to what many of them cost in the first place.
I instanced the case where there was a capital allowance asset with a written-down value of £1,000 and subsequent annual allowances of £100, bringing the new written-down value to £900.
In some cases, the new stock issued will be in excess of the written-down value of these assets; in other cases, it may be considerably below that value.
What really weighed with us was that we felt that in these days it was extremely unlikely that the industrial assets would be worth less than the written-down value.
It is perhaps coincidental that that is the same amount as the written-down value of the physical assets that were acquired.
I said, "the written-down value"—that is, the book value.
The original cost of the equipment included in the auction sale was £62,906 and the written-down value at the date of the sale was £16,689.
