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86
JOHN DANIEL HOLDINGS LIMITED AND ITS SUBSIDIARIES
INTEGRATED ANNUAL REPORT 2011
Notes to the Annual Financial Statements
- Continued
Annual Financial Statements for the 15 months ended 30 September 2011
4. Intangible assets
Group
2011
2010
Cost
Accumulated
amortisation
Carrying
value
Cost
Accumulated
amortisation
Carrying
value
Licenses
229 620
(229 620)
-
229 620
-
229 620
Development costs
1 554 483
-
1 554 483
706 512
-
706 512
Total
1 784 103
(229 620)
1 554 483
936 132
-
936 132
Group – 2011
Reconciliation of intangible assets
Opening
balance
Additions
Impairment
loss
Impairment
reversal
Total
Licences
229 620
-
(229 620)
-
-
Development costs
706 512
61 219
-
786 752
1 554 483
936 132
61 219 (229 620)
(786 752)
1 554 483
Group – 2010
Reconciliation of intangible assets
Opening
balance
Impairment
loss
Total
Patents
66 869
(66 869)
-
Licenses
229 620
-
229 620
Development costs
1 493 264
(786 752)
706 512
1 789 753
(853 621)
936 132
Other information
Development costs are not amortised as they have not been brought into use. Development costs relate to unfinished
developments and impairment was tested using the value in use model and a pre-tax discount rate of prime with no growth.
The capitalised development costs relate to new products being developed using technologies available to the groups’
subsidiaries. These products are nearing completion and will unlock additional markets and revenue streams.