b'CHP financial statements 2020/2021Notes to the financial statements 13Intangible assets14Investment properties (market rented properties)IT software Valuation000Cost or valuation000 At 1 April 2020 7,159 At 1 April 2020 1,641Valuation adjustment 238 Additions 446At 31 March 2021 7,397 Disposals (20) At 31 March 2021 2,067 Market rent properties are stated at MV-STT. TheWe have an interest in the freeholds of market rented Depreciation companys investment properties were valued byproperties, which are deemed investment properties professional external valuers, Savills (L&P) Limited,because they are held for the purpose of ensuring a At 1 April 2020 1,049Chartered Surveyors. The assumptions used by the continuing rental income and are not held for socialCharge for the year 300valuers included Gross Yield of 6.10 percent per annum.benefit or use in the business. The valuation adjustment of 238k (2019/2020: 0k) Investment properties are initially measured at cost and Released on disposal (20)has been credited to the statement of comprehensivesubsequently at fair value, with any changes in fair value At 31 March 2021 1,329income.recognised in the statement of comprehensive income. Net book value The carrying value of the completed housing properties that would have been included in the financial statements At 31 March 2021 738had the assets always been carried at historical cost would be 6,246k (2019/2020: 6,189k).At 1 April 2020 592 70 71'