56 Finsbury Food Group Annual Report & Accounts 2017
10. Intangibles (continued)
A non-cash impairment of the goodwill arising from the acquisition of Anthony Alan Foods Ltd in 2007 was made during the previous year. The impairment reflects the challenging market and changing dynamics of the ‘healthier’ grocery market. The related goodwill has been fully impaired and reflected in both the Lightbody of Hamilton and Memory Lane Cakes cash generating units accordingly. The impairment is shown as a significant non-recurring item within administrative expenses.
Sensitivity analyses have been carried out by the Directors on the carrying value of all remaining goodwill using discount rates ranging between 3.5% and 15.0% which would not result in an impairment of any cash generating units. Management believe any increase in discount rates above 15% to be remote.
The carrying amount of goodwill has been allocated to cash generating units or groups of cash generating units as follows:
2017 £000
Nicholas & Harris
Lightbody of Hamilton Memory Lane Cakes Fletchers Bakery
Johnstone’s Food Service 2,980
45,698 -
20,118 372
69,168
2016 £000
2,980
45,698 -
20,118 372
69,168
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