| |
|
|
GROUP |
| |
|
|
2011
Rm |
|
|
2011
Rm |
| 8. |
Intangible assets |
|
|
|
|
|
| 8.1 |
Goodwill |
|
|
|
|
|
| |
At 1 March |
|
837.5 |
|
|
791.8 |
| |
Additions |
|
15.1 |
|
|
|
| |
Continuing operations |
|
5.2 |
|
|
— |
| |
Discontinued operations |
|
9.9 |
|
|
— |
| |
Foreign currency translation effect |
|
34.6 |
|
|
45.7 |
| |
Transferred to assets held for sale – Franklins (note 18.1) |
|
(744.8) |
|
|
— |
| |
Carrying value at 28 February |
|
142.4 |
|
|
837.5 |
| |
Comprising: |
|
|
|
|
|
| |
Boxer group |
|
142.4 |
|
|
137.1 |
| |
Franklins group |
|
— |
|
|
700.4 |
| |
In accordance with the Group’s accounting policies, an impairment test of goodwill has been performed. The cash-generating units to which goodwill has been allocated have been identified as subsidiaries. |
|
|
|
|
|
| |
The recoverable amount for Boxer was based on the value in use. |
|
|
|
|
|
| |
The results of a detailed five-year cash flow forecast, together with a terminal cash flow estimate, discounted at appropriate market rates after tax, did not identify any impairment in goodwill. |
|
|
|
|
|
| |
Franklins is held for sale and is disclosed as a discontinued operation. The Franklins’ goodwill has been transferred to assets held for sale. The goodwill is considered fully recoverable through the sale of the business. For further information please refer to note 18.1. |
|
|
|
|
|
| 8.2 |
Software development |
|
|
|
|
|
| |
Cost |
|
|
|
|
|
| |
At 1 March |
|
462.7 |
|
|
407.5 |
| |
Additions |
|
79.1 |
|
|
51.5 |
| |
Continuing operations |
|
77.3 |
|
|
49.9 |
| |
Discontinued operations |
|
1.8 |
|
|
1.6 |
| |
Foreign currency translation effect |
|
4.0 |
|
|
3.7 |
| |
Transferred to assets held for sale – Franklins (note 18.1) |
|
(88.2) |
|
|
— |
| |
At 28 February |
|
457.6 |
|
|
462.7 |
| |
Accumulated amortisation |
|
|
|
|
|
| |
At 1 March |
|
173.5 |
|
|
105.7 |
| |
Amortisation charge for the year |
|
73.3 |
|
|
66.8 |
| |
Continuing operations |
|
67.5 |
|
|
66.1 |
| |
Discontinued operations |
|
5.8 |
|
|
0.7 |
| |
Foreign currency translation |
|
2.3 |
|
|
1.0 |
| |
Transferred to assets held for sale – Franklins (note 18.1) |
|
(53.6) |
|
|
— |
| |
At 28 February |
|
195.5 |
|
|
173.5 |
| |
Carrying value at 28 February |
|
262.1 |
|
|
289.2 |
 |
|
|
|
|
|
|
| |
Total intangible assets |
|
404.5 |
|
|
1 126.7 |
