Annual report and accounts 2023 - Flipbook - Page 163
Strategic Report
Accounts
Corporate Governance
Goodwill
£m
Brands
£m
Customer
relationships
£m
Water rights
£m
Software
development
costs
£m
Total
£m
Cost
At 24 January 2021
At 30 January 2022
1.9
1.9
7.3
7.3
1.0
1.0
0.7
0.7
11.8
11.8
22.7
22.7
At 29 January 2023
1.9
7.3
1.0
0.7
11.8
22.7
Amortisation and impairment losses
At 24 January 2021
Amortisation for the year
1.9
–
7.3
–
1.0
–
0.7
–
6.7
1.2
17.6
1.2
At 30 January 2022
Amortisation for the year
1.9
–
7.3
–
1.0
–
0.7
–
7.9
1.2
18.8
1.2
At 29 January 2023
1.9
7.3
1.0
0.7
9.1
20.0
Carrying amounts
At 29 January 2023
–
–
–
–
2.7
2.7
At 30 January 2022
–
–
–
–
3.9
3.9
Company
The goodwill and brands recognised in the Company relate to the acquisition of the Strathmore Water business. The software development costs represent internally
generated software development costs and third party consultancy costs incurred in relation to the Business Process Redesign project.
Impairment tests for goodwill and brands
For impairment testing, goodwill and brands are allocated to the cash-generating unit (CGU) representing the lowest level at which goodwill is monitored for internal
management purposes. The Group tests whether there has been any impairment of intangible assets on an annual basis or when there is an indication of impairment.
The recoverable amount of a CGU is based on value in use calculations. These calculations use pre-tax cash flow projections based on financial forecasts approved
by management which cover a five-year period. Cash flows beyond five years are extrapolated using the growth rates and other key assumptions noted below.
The aggregate carrying amounts of goodwill allocated to each CGU are:
Goodwill
£m
Brands
£m
Total
£m
Rubicon
FUNKIN
MOMA
Boost
21.0
14.4
1.0
1.9
43.0
6.8
8.4
16.9
64.0
21.2
9.4
18.8
Total
38.3
75.1
113.4
Goodwill
£m
Brands
£m
Total
£m
Rubicon
FUNKIN
MOMA
21.0
14.4
1.0
43.0
6.8
8.4
64.0
21.2
9.4
Total
36.4
58.2
94.6
At 29 January 2023
At 30 January 2022
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