I understand that you use a subcontractor to provide equipment to help your citizens that require support at home.
Presumably you are charged when the equipment is delivered and once it is collected you get a refund from the subcontractor (if it can be refurbished).
In effect when it is delivered you buy the equipment, when it is returned you get a refund from the subcontractor – i.e. sell it back to the subcontractor.
Under IFRS and IAS2 the equipment you have bought should be treated as stock but your annual report does not show it. Why not?
We can confirm that all Devon County Council (DCC) inventories are shown in the balance sheet = £1.720m (31/3/22) – page 31 of DCC budget
Note 34 – page111 of the 21/22 accounts states that the value of community equipment held as stock amounts to £1.792m of which DCC’s share included in the balance sheet is £896,000