Notes - Genesis Housing Association

Notes20. Members 21. CommitmentsAssociation 2013 2012No.No..a) Capital commitmentsCapital commitments at the end of the financial year for which no provisionhas been made, are as follows:At beginning of year 83 33Shares issued on amalgamation - 51Shares cancelled (1) (1)At end of year 82 832013 2012 2013 2012Group Group Association Association£m £m £m £mContracted for and not provided 239.9 170.7 125.4 170.5Each share has a nominal value of £1 which carries no right to interest, dividend orbonus. When a shareholder ceases to be a shareholder, the share is cancelled and theamount paid up becomes the property of the Association.Authorised by the Board and notyet contracted for- 75.8 - 75.8The Group expects to finance the above contracted commitments by:2013 2012 2013 2012Group Group Association Association£m £m £m £mProceeds from property sales 126.3 141.0 88.1 125.3Capital grant receivable 9.8 12.1 9.8 12.1Cash and available loan facilities 103.8 17.6 27.5 33.1239.9 170.7 125.4 170.5At 31 March 2013, the Group has cash and borrowing facilities available of £277m (2012:£242m).66