Page 70 - Housing Solutions Annual Report

Tangible Fixed Assets - Properties (continued)
Association Housing Housing Shared Shared Total

Properties Properties Ownership Ownership
and Mobile under Properties Properties
Homes Construction under
Construction

£’000 £’000 £’000 £’000 £’000
Cost or Valuation at 440,000 18,707 41,937 9,135 509,779
1 April 2019
Completed 22,274 (22,274) 11,200 (11,200) -

Additions - 15,850 - 9,857 25,707
Disposals (691) - (421) - (1,112)
Reclassification to/from 4,119 - (1,168) - 2,951
investment properties
Works to existing properties 2,049 108 - - 2,157

Decrease in valuation (7,640) - (3,322) - (10,962)
Reversal of previous decrease 8,213 - 1,190 - 9,403
Increase in valuation 19,090 (2,536) 1,321 2,055 19,930

At 31 March 2020 487,414 9,855 50,737 9,847 557,853

Depreciation charged in year (5,955) - (308) - (6,263)
Eliminated on disposal 515 - 2 - 517

Increase in valuation 5,440 - 306 - 5,746

At 31 March 2020 - - - - -

Net book value as at 487,414 9,855 50,737 9,847 557,853
31 March 2020

Net book value as at 440,000 18,707 41,937 9,135 509,779
31 March 2019

Completed housing properties are stated at Existing Use Value for Social Housing (EUV-SH) as at 31 March
2020. The Group’s housing properties have been valued by Jones Lang LaSalle, professional external valuers.
The full valuation of all properties was undertaken, in accordance with the Appraisal and Valuation Manual of
the Royal Institution of Chartered Surveyors (RICS) as follows:

£’000

Completed properties at valuation
(including investment properties)
Housing Solutions 554,052

554,052

70 Annual Report and Accounts 2020

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16645.02 HS Annual Report 86pp A4 v10.indd 70 10/11/2020 13:35