b'CHP financial statements 2020/2021Notes to the financial statements 12Housing properties: Group12Housing properties: Group Group and Company - Social housing properties held for letting - component analysisAffordable social housing properties for rent have beenCompleted properties for social rent were valued at constructed under the Short Form Agreement, which is notExisting Use Value for Social Housing (EUV-SH) and Roof Kitchen Bathroom HeatingHeatingWindowsTotal part of the HCA Affordable Homes Programme properties for intermediate rent and shared ownership system:system:and doors (2011-2015).were valued at Market Value Subject to Tenancies remainder boiler On transition to FRS 102 in 2015/2016, we took the(MV-STT). Cost000000000000000000000 option of using a previous valuation as its deemed costThe carrying value of the completed housing properties at the transition date. Housing properties completedthat would have been included in the financial statements At 1 April 2020 24,50234,15721,50813,44114,31314,945122,866subsequently have been measured at cost. The companyshad the assets been carried at historical cost is as follows. housing properties were valued by professional external Works to existing properties -37729451,461642,201valuers, Savills (L&P) Limited, chartered surveyors. Schemes completed 1,1745755182773074163,267Group and Company Disposals (342)(139)(56)(1)(804)(13)(1,355)2020/2021 2019/2020 Classification adjustment 7 - - - - - 7 000000At 31 March 2021 25,34134,97022,26413,72215,27715,412126,986Historical cost 590,996 567,637 Depreciation (66,079)(59,133) At 1 April 2020 2,1618,2063,1862,0242,8572,91321,347524,917508,504 Depreciation charge in year 3891,8327213921,3166805,330 Released on disposal (11) (81)(24)-(672)(5)(793)Housing properties historical cost book value, net of depreciation:At 31 March 2021 2,541 9,9573,8832,4163,5013,58825,886Freehold land and buildings520,080502,097 Long leasehold land and buildings 4,8374,964 At 31 March 2021 22,80025,01318,38111,30611,77611,824101,100524,917507,061 At 31 March 2020 22,34125,95118,32211,41711,45612,032101,519 Additions to housing properties in the course of construction during the year included capitalised interest of 2,092k (2019/2020: 1,908k) at an average interest rate of 4.79% (2019/2020: 4.79%). 68 69'