b'CHP financial statements 2020/2021Notes to the financial statements 21Creditors Grant Under construction Government grants released on sale of the property mayOther grants are recognised in income once the be repayable but are normally available to be recycledperformance conditions have been met under the Cost or valuation Social Affordable SharedSocialSharedTotal and are credited to a Recycled Capital Grant Fund and areperformance model of accounting. ownership housing ownership included in the statement of financial position in creditors.The carrying value of the grants that would have been 000 000 000 000 000 000 If there is no requirement to recycle or repay the grant onincluded in the financial statements had they been carried disposal of the asset, any unamortised grant remainingat historical value less amortisation is as follows: At 1 April 2020 (4,173)(1,250)(15) (5,940)- (11,378) within creditors is released and recognised as income in the statement of comprehensive income. Correction to tenure status 2,968(2,968)- 630 (630) -Group and companyAdditions - - - (250) - (250)Schemes completed -(1,414)(292) 1,414292 - 2020/2021 2019/2020 At 31 March 2021 (1,205) (5,632) (307)(4,146)(338) (11,628)000000Historical cost 55,46055,210 Amortisation Amortisation (5,090)(4,580) At 1 April 2020 4134- - - 75 50,37050,630 Charge for the year12 43- - - 55At 31 March 2021 5377 - - - 130 Net book valueAt 31 March 2021 (1,152) (5,555) (307) (4,146) (338) (11,498)At 31 March 2020 (4,132) (1,216) (15) (5,940) - (11,303)Government grants include those receivable fromGrants relating to revenue are recognised in statement Homes England, local authorities and other governmentof comprehensive income over the same period as the organisations. They are recognised as deferred incomeexpenditure to which they relate. Until the revenue grants and amortised to income on a straight-line basis over theare recognised as income they are recorded as liabilities. expected useful life of the housing property structure under the accrual model of accounting. Amortisation starts from the point of completion of the housing property to which the grant relates. 78 79'