Meridian Annual Report - Meridian Energy

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Meridian Energy Limited — Notes to the Financial Statements (continued)
15. Available for Sale Investments (continued)
Note
Group and Parent
2008
$’000
2007
$’000
Balance at Beginning of Year 16,567 16,119
Additions 597 801
Disposals (2,542) (404)
Impairment Loss 3 - (487)
Net Gains/(Losses) Taken to Equity 7 (2,842) 538
Balance at End of Year 11,780 16,567
Comprising:
Non Current 11,780 16,567
Available-for-sale assets are carried at fair value except for the investment in North Otago Irrigation Company. This investment consists of shares
in a privately owned company for which there is no market or quoted prices. Therefore the fair value of the share cannot be measured reliably
and the carrying amount has been determined by the cost of the acquiring the shares in the company.
In 2007, Meridian’s investment in Canterbury TX of $0.487 million was fully impaired due to the abandonment of key patent application processes.
16. Intangible Assets
Software
$’000
Goodwill
$’000
Licence
Agreement
$’000
Group
Patents &
Trademarks
$’000
Licences
$’000
Customer
Acquisition
Costs
$’000
Cost
Balance at 1 July 2006 11,303 - - - 401 65,174 76,878
Acquisitions 3,448 - - 211 - - 3,659
Recognised on Acquisition of Controlled Entities - 6,883 22,380 855 - - 30,118
Balance at 30 June 2007 14,751 6,883 22,380 1,066 401 65,174 110,655
Total
$’000
Balance at 1 July 2007 14,751 6,883 22,380 1,066 401 65,174 110,655
Acquisitions 5,525 - - 356 - - 5,881
Disposals - - - (156) - - (156)
Balance at 30 June 2008 20,276 6,883 22,380 1,266 401 65,174 116,380
Accumulated Amortisation and Impairment
Balance at 1 July 2006 (7,689) - - - (229) (42,366) (50,284)
Amortisation During Year (2,232) - (1,119) (140) (76) (6,664) (10,231)
Recognised on Acquisition of Controlled Entities - - - (548) - - (548)
Balance at 30 June 2007 (9,921) - (1,119) (688) (305) (49,030) (61,063)
Balance at 1 July 2007 (9,921) - (1,119) (688) (305) (49,030) (61,063)
Amortisation During Year (3,507) - (3,357) (80) (76) (6,095) (13,115)
Disposals - - - 156 - - 156
Balance at 30 June 2008 (13,428) - (4,476) (612) (381) (55,125) (74,022)
Net Book Value
Net Book Value 30 June 2006 3,614 - - - 172 22,808 26,594
Net Book Value 30 June 2007 4,830 6,883 21,261 378 96 16,144 49,592
Net Book Value 30 June 2008 6,848 6,883 17,904 654 20 10,049 42,358