Financial Statements 2018 financial statement- joomag | Page 56

10B. HOUSING PROPERTIES Expenditure on works to existing properties 2018 2017 £’000 £’000 Components capitalised/improvements 3,527 3,602 Amounts charged to the Statement of Comprehensive Income 10,277 10,918 13,804 14,520 Completed housing properties book value, net of depreciation 2018 2017 £’000 £’000 Freehold land and buildings 798,611 763,501 Leasehold land and buildings 39,428 39,428 Total Net Book Value 838,039 802,929 Finance costs 2018 2017 £’000 £’000 Aggregate amount of finance costs included in the cost of housing properties To date this represents 2.17% (2017: 2.11%) of total housing property fixed asset costs. 19,986 18,545 Social housing assistance 2018 2017 £’000 £’000 Total accumulated social housing grant received or receivable at 31 March Capital grant 288,012 283,961 Revenue grant 34,907 32,753 Total Net Book Value 322,919 316,714 Impairment The Association considers individual schemes to be separate Cash Generating Units (CGU’s) when assessing for impairment, in accordance with the requirements of FRS 102 and the Housing SORP 2014. During the current year the Association have identified no impairment losses (2017: £NIL). Financial Statements 2018 55