Notes to the Financial Statements
4. Non-financial assets and liabilities
4.1 Goodwill and intangibles
Consolidated
Goodwill Total intangibles $'000 $'000 $'000 $'000 Capitalised software Client Book
2024
Gross carrying amount Balance at the beginning of the financial year
11,952
60,108 65,017 125,125
— 11,434
— 11,434
Acquired directly during the year 1
Written-off during the year
—
— (65,017)
(65,017)
11,952
71,542
— 71,542
Balance at the end of the financial year
Accumulated amortisation and impairment losses Balance at the beginning of the year
7,941
36,031
64,987 101,018
Amortisation expense in the current year
— 3,762
— 3,762
Written-off during the year
—
— (64,987) (64,987)
7,941
39,793
— 39,793
Balance at the end of the financial year Net book value Balance at the beginning of the financial year Balance at the end of the financial year
4,011 4,011
24,077 31,749
30 24,107 — 31,749
Goodwill Total intangibles $'000 $'000 $'000 $'000 Capitalised software Client Book
2023
Gross carrying amount Balance at the beginning of the financial year
20,452
66,616 65,017 131,633
Acquired directly during the year
— 12,690
— 12,690 — (19,198)
Reclassification to assets held for sale (see section 8.5(d))
(8,500)
(19,198)
11,952 60,108 65,017 125,125
Balance at the end of the financial year
Accumulated amortisation and impairment losses Balance at the beginning of the year
7,941
49,278 64,987 114,265
Amortisation expense in the current year
— 3,069 — (16,316)
— 3,069 — (16,316)
Reclassification to assets held for sale (see section 8.5(d))
7,941
36,031 64,987 101,018
Balance at the end of the financial year Net book value Balance at the beginning of the financial year Balance at the end of the financial year
12,511 4,011
17,338 24,077
30 17,368 30 24,107
1 Includes $9.2 million (30 June 2023: $11.2 million) of capitalised costs in relation to the capitalisation of configuration and customisation costs in SaaS arrangements.
As required under accounting standards the Group completes an impairment assessment at each reporting date. As at 30 June 2024, no impairment charge was recognised (2023: nil). This is discussed further in section 4.2.
Goodwill and Intangibles accounting policy Goodwill
Goodwill acquired in a business combination is recognised at cost and subsequently measured at cost less any accumulated impairment losses. The cost represents the excess of the cost of a business combination over the fair value of the identifiable assets acquired and liabilities assumed. Capitalised software Costs are capitalised when the costs relate to the creation of an asset with expected future economic benefits
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ClearView Annual Report 2024
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