Financial Statements 2017 Financial Statements 2017 | Page 77

21. DISPOSALS PROCEEDS FUND 2017 2016 £’000 £’000 Balance at 1 April 81 149 Net sales proceeds recycled 83 52 Withdrawals - (120) Balance at 31 March Withdrawals from the Disposals Proceeds Fund have contributed to new development. 164 81 22. PROVISIONS FOR LIABILITIES Leave pay £’000 At 1 April 2016 371 Additions 372 Utilised (371) At 31 March 2017 372 23. SHARE CAPITAL Accord Housing Association Limited is an Industrial and Provident Society limited by share capital. 2016 2017 Number Number Allotted, called up and fully paid shares of £1 each: At beginning of year 39 34 Issued during year 5 5 Surrendered during the year (3) - At end of year 41 39 The share capital of the Association consists of shares with a nominal value of £1 each which carry no rights to dividends or other income. Shares in issue cannot be repaid or transferred. When a shareholder ceases to be a member, this person’s share is cancelled and the amount paid up thereon becomes the property of the Association. All shareholdings, therefore, relate to non-equity interests. Financial Statements 2017 75