52 Finsbury Food Group Annual Report & Accounts 2016








 relates to:


2016 £000


 Cash consideration paid in respect of Johnstone’s Just Desserts Ltd acquisition  


 


12. Intangibles Intangible assets comprise customer relationships, brands and goodwill.


Goodwill £000


Cost at 28 June 2014 Cost at 27 June 2015


Adjustment in respect of prior year acquisition (see Note below)


Additions Cost at 2 July 2016


Amortisation at 28 June 2014 Charge for the year 27 June 2015 Amortisation at 27 June 2015 Charge for the year 2 July 2016


Amortisation/impairment at 2 July 2016 Net book value at 28 June 2014


Net book value at 27 June 2015 Net book value at 2 July 2016


52,968 71,704


1,754 -


73,458 -


- -


(4,290) (4,290)


52,968 71,704 69,168


Software £000


- -


-


600 600


- - - - -


- -


600


Brands and licences £000


822 3,683


- -


3,683 (822)


(107) (929) (144)


(1,073) -


2,754 2,610


relationships £000


- 5,909


- -


5,909 -


(296) (296) (395) (691)


-


5,613 5,218


Customer


Total £000


53,790 81,296


1,754 600


83,650 (822)


(403)


(1,225) (4,829) (6,054)


52,968 80,071 77,596


  tax liability will unwind in line with the amortisation of the intangible assets (see Notes 9 and 24 for the details of the tax impact).


    Income Statement.


   is reviewed annually for impairment. The carrying value of all goodwill has been assessed during the year and a non-cash impairment of goodwill arising from an acquisition in 2007 has been made during the year.


The Group tests goodwill for impairment on an annual basis, or more frequently if there are indications that the goodwill may be impaired. The recoverable amounts of the cash generating units are determined from value in use calculations. The key assumptions for the value in use  


    expectations of future changes in the market.


- - - -


50 -


2015 £000


39,084 1,550 175


40,809 -


(3,000)


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