Download - Mintek

FINANCIAL STATEMENTS AND NOTES 2007NOTES TO THE ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 200711.2 INTANGIBLEASSETSGROUP and MINTEK 2007 GROUP and MINTEK 2006Opening Closing Opening ClosingBalance Additions Revaluation Disposals Balance Balance Reversal Revaluation Disposals BalanceR R R R R R R R R RCostComputer software – 4,693,881 – – 4,693,881 – – – – –– 4,693,881 – – 4,693,881 – – – – –Current YearCurrent YearAccumulated Opening Depreciation Revaluation Disposals Closing Opening Depreciation Revaluation Disposals Closingdepreciation R R R R R R R R R RComputer software – 433,146 – – 433,146 – – – – –– 433,146 – – 433,146 – – – – –Value as at 31 March 2007 4,260,735 Value as at 31 March 2006 –The estimated useful lives of depreciable intangible assets are as follows:Computer software3 years12. INVESTMENT PROPERTYGROUP and MINTEK 2007 GROUP and MINTEK 2006Opening Closing Opening ClosingBalance Reversal Revaluation Disposals Balance Balance Reversal Revaluation Disposals BalanceR R R R R R R R R RBuildings - Billiton 8,835,416 – 2,941,266 – 11,776,682 7,190,526 (2,253,306) 3,898,196 – 8,835,4168,835,416 – 2,941,266 – 11,776,682 7,190,526 (2,253,306) 3,898,196 – 8,835,416FairValue as at 31 March 2007 11,776,682 Fair Value as at 31 March 2006 8,835,416Portion of portion 175 of the farm Klipfontein, 203-IQ Johannesburg, with buildings thereon. The value of the building complex was estimated at R11 776 681 byLyons Financial Solutions (Proprietary) Limited, an independent valuer during the year ended 31 March 2007. The latest valuation report was issued on18 June 2007.75annual report 2007