Asset Management Policy

Purpose

This policy sets out how Towerblock Radio CIC manages its physical and digital assets, ensuring they are recorded, maintained, protected and used effectively.

Scope

This policy applies to all assets owned, leased or used by Towerblock Radio CIC, including broadcasting equipment, computers, instruments, records, archive material and digital assets.

Definitions

• Asset means any item of value owned or controlled by Towerblock Radio CIC.
• Fixed asset means a tangible asset with a useful life exceeding one year and a value above the capitalisation threshold.
• Digital asset means software, digital content, domain names, databases and intellectual property.

Responsibilities

The board approves asset purchases above the Financial Delegation Matrix threshold. The Operations Lead maintains the asset register. Staff and volunteers are responsible for the care of assets they use.

Policy Statement

Towerblock Radio CIC maintains a comprehensive asset register and manages assets to ensure they are used for their intended purpose, maintained in good condition, and protected from loss, theft or damage.

Detailed Procedures

Asset register

The asset register records asset description, date of acquisition, cost or valuation, location, assigned to, condition, maintenance schedule, depreciation, and disposal date and method.

Capitalisation threshold

Items costing more than GBP 500 with a useful life exceeding one year are recorded as fixed assets and depreciated over their useful life.

Acquisition

Assets are acquired through the Procurement Policy. All new fixed assets must be added to the asset register within seven days of acquisition.

Maintenance

The Operations Lead shall ensure that equipment is maintained in accordance with manufacturer recommendations and safety requirements.

Security

Equipment shall be stored securely when not in use. Portable equipment shall be signed out and signed in. Insurance shall be maintained for all significant assets. Digital assets shall be backed up and access-controlled.

Disposal

Assets shall be disposed of in accordance with environmental regulations and the asset lock. Surplus equipment may be donated, sold or recycled. Data-bearing devices shall be securely wiped before disposal.

Asset lock

As a CIC, Towerblock Radio CIC's assets are subject to the asset lock. Assets must be used for the community interest and may not be transferred to members or directors except at full market value.

Reporting Process

The asset register is reported to the board annually. Loss or theft of assets must be reported to the board chair within 24 hours.

Compliance Requirements

• Companies Act 2006.
• Community Interest Company Regulations 2005 (asset lock).
• Waste Electrical and Electronic Equipment Regulations 2013.

Monitoring

The board reviews the asset register annually. The Operations Lead conducts an annual physical asset check.

Review Cycle

This policy shall be reviewed annually.

Version Number

Version 1.0

Approval Section

Approved by: Towerblock Radio CIC Board Date: July 2026 Next review: July 2027

Related Policies

• Procurement Policy
• Finance Controls Policy
• Equipment Loan Policy
• Information Security Policy

Website URL slug

/policies/asset-management-policy

Meta Title

Asset Management Policy | Towerblock Radio

Meta Description

Towerblock Radio CIC's asset management policy covering the asset register, acquisition, maintenance, security, disposal and the CIC asset lock for broadcasting equipment and digital assets.

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Governance

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asset management, asset register, CIC asset lock, equipment, fixed assets, depreciation