Financial Statements 7
12.2 Housing properties - Association
Properties under construction £’000
Shared ownership schemes £’000
Total housing properties £’000
Retirement housing £’000
Residential care homes £’000
Cost At 1 April 2023
1,926,588
714,475
46,085
16,538
2,703,686
Additions: Works to existing properties
35,510
8,030 46,910
– –
1,749
45,289 46,910 72,124
Properties acquired
–
– – – –
Investment in new developments
2,972 40,678 (2,266)
– –
69,152 (40,678)
Transfers Disposals
–
(3,348)
–
(5,614)
At 31 March 2024
2,003,482
766,067
74,559
18,287
2,862,395
Depreciation At 1 April 2023
1,082,444
203,182 19,039
– – – – –
4,286
1,289,912
Depreciation charged in the year Impairment charge in the year
47,773
529
67,341 2,639 (3,603)
–
2,639
– –
Released on disposal At 31 March 2024
(2,723)
(880)
1,127,494
223,980 542,087 511,293
4,815
1,356,289 1,506,106 1,413,774
Net book value at 31 March 2024 Net book value at 31 March 2023
875,988 844,144
74,559 46,085
13,472 12,252
12.3 Housing properties held under finance leases - Group and Association The total net book value of housing properties held under finance leases after deducting accumulated depreciation is £219,299,000 (2023: £225,021,000). Depreciation charged during the year on these assets was £5,721,000 (2023: £5,138,000).
12.4 Finance costs - Group and Association
2024 £’000
2023 £’000
Aggregate amount of finance costs included in the cost of housing properties
691
691
89
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