070917_KPGHL_Annual Report 2017_final_PREVIEW

Notes to the Financial Statements | For the Year Ended 30 June 2017
12 Intangible Assets
2017 2016
$ $
Goodwill
Cost 17,847,638 12,525,784
Brand names and intellectual
property
Cost 3,300,000 3,300,000
Customer relationships
Cost 5,957,719 2,575,736
Accumulated amortisation (2,717,664) (2,300,196)
Net carrying value 3,240,055 275,540
Computer software
Cost 43,832 7,566
Accumulated amortisation (8,479) (6,387)
Net carrying value 35,353 1,179
Total Intangibles 24,423,046 16,102,503
Movements in carrying amounts of intangible assets
Brand
names and
intellectual
property
Customer
relationships
Computer
software
Goodwill
Total
$ $ $ $ $
Year ended 30 June 2017
Balance at the beginning of the year 3,300,000 275,540 1,179 12,525,784 16,102,503
Additions - - 36,267 - 36,267
Additions through business
combinations
- 3,381,983 - 5,321,854 8,703,837
Amortisation - (417,468) (2,093) - (419,561)
Closing value at 30 June 2017 3,300,000 3,240,055 35,353 17,847,638 24,423,046
Brand
names and
intellectual
property
Customer
relationships
Computer
software
Goodwill
Total
$ $ $ $ $
Year ended 30 June 2016
Balance at the beginning of the year
(restated)
3,300,000 547,817 - 12,694,031 16,541,848
Additions - - 7,566 51,400 58,966
Disposal of non-controlling interest - - - (163,364) (163,364)
Disposal of non-controlling interest - - - (55,000) (55,000)
Amortisation (restated) - (272,277) (6,387) - (278,664)
Other - - - (1,283) (1,283)
Closing value at 30 June 2016 3,300,000 275,540 1,179 12,525,784 16,102,503
Brand names and intellectual property have indefinite useful lives and are not amortised.
90 KELLY+PARTNERS ANNUAL REPORT 2017