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Group Company
2003 2002 2003 2002
R000 R000 R000 R000
5. GOODWILL
Cost
At the beginning of the year 29 070 29 070 – –
Arising on acquisition of additional holdings in subsidiaries 25 147 – – –
At the end of the year 54 217 29 070 – –
Amortisation
At the beginning of the year 16 063 3 224 – –
Charge for the year 17 691 12 839 – –
At the end of the year 33 754 16 063 – –
Carrying amount at the end of the year 20 463 13 007 – –
6. DEFERRED TAX ASSET/LIABILITY
Deferred tax analysis
Deferred tax assets
General provision for credit losses 4 615 23 134 – –
Estimated tax losses 37 792 22 400 – –
Secondary tax on companies 4 738 15 771 714 –
Other provisions 11 667 2 154 – 15 771
58 812 63 459 714 15 771
Deferred tax liability
Assurance income 10 576 13 256 – –
10 576 13 256 – –
Net assets at the end of the year 48 236 50 203 714 15 771
Deferred tax reconciliation
Balance at the beginning of the year 50 203 33 271 15 771 –
Income statement movement: (1 967) 16 932 (15 057) 15 771
Balance at the end of the year 48 236 50 203 714 15 771
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African Bank Investments Limited