Martlet Homes Limited - Hyde Housing Association

MARTLET HOMES LIMITED
NOTES TO THE ACCOUNTS
YEAR ENDED 31 MARCH 2010
13. TANGIBLE FIXED ASSETS – HOUSING PROPERTIES
Housing Housing
properties properties
held for under
letting construction
Completed
shared
ownership
properties
Shared
ownership
under
construction
Total
Cost £’000 £’000 £’000 £’000 £’000
At 1 April 2009 124,911 12,592 3,031 3,440 143,974
Additions 1,697 12,260 - 2,031 15,988
Transfers to current assets - - - (3,176) (3,176)
Disposals (1,237) - (181) - (1,418)
Completed 12,771 (12,771) 1,059 (1,059) -
At 31 March 2010 138,142 12,081 3,909 1,236 155,368
Social Housing Grant (SHG)
At 1 April 2009 (14,142) (2,205) (1,369) - (17,716)
Received - (7,158) - (182) (7,340)
Disposals - - 69 - 69
Completed (3,415) 3,415 (60) 60 -
At 31 March 2010 (17,557) (5,948) (1,360) (122) (24,987)
Depreciation/impairment
At 1 April 2009 (4,435) - (25) (16) (4,476)
Impairment - (301) - (69) (370)
Charge for year (753) - (26) - (779)
Disposals 2 - - 17 19
At 31 March 2010 (5,186) (301) (51) (68) (5,606)
Net book value
At 31 March 2010 115,399 5,832 2,498 1,046 124,775
At 31 March 2009 106,334 10,387 1,637 3,424 121,782
Additions to housing properties during the year include capitalised interest of £275,000 (2009:
£447,000) (note 8). The total amount of cumulative interest capitalised in housing properties is
not separately identifiable. Total expenditure on works to existing properties during the year
amounted to £4,444,000 (2009: £3,892,000) of which £1,697,000 (2009: £959,000) was capitalised.
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