Page 97 - Pobl Annual Report FY25

Annual Report 2025 95
Notes to the Financial Statements
for the year ended 31 March 2025
Computer software Group Company
£’000 £’000
Cost
At 1st April 2024 (Group restated) and 31 March 2025 3,269 183
Amortisation
At 1 April 2024 (Group restated) 2,193 146
Charge for the year 523 37
At 31 March 2025 2,716 183
Net Book Value
At 31 March 2025 553 -
At 31 March 2024 (Group restated) 1,076 37
15. Intangible Fixed Assets
Group
£’000
At 1 April (Group restated) 15,578
New loans 709
Transfer to housing properties (119)
Loans repaid (574)
At 31 March 2025 15,594
Equity loans have been made under low-cost home ownership arrangements, to homeowners who were not
otherwise able to fully afford their homes using commercially available mortgages.
Equity loans are treated as concessionary loans and are included in the Statement of Financial Position at historic
cost. The associated Homebuy grant from the Welsh Government is recognised as deferred income until the loan is
redeemed.
The Group is entitled to a proportion of the market value corresponding to the equity interest at a time when
homeowners either dispose of their Homebuy property or when they choose to repurchase some, or all, of the
equity loan. When loans are repaid, the Group benefits from any increase in the value of the related property
owned by the debtor. Furthermore, for self-funded investments, the Group suffers from any decrease in value of the
related property at the time the investment matures.
16. Investments - Homebuy Loans Receivable