NOTES TO THE FINANCIAL STATEMENTS
FOR THE FInAncIAL yEAR EnDED 30 JunE 2016
12
INTANGIBLE ASSETS
Order
Service
books
Brand Licenses agreement
Total
$’000
$’000
$’000
$’000
$’000
Group
Non-current assets
Cost
At 1 July 2014
–
–
–
–
–
Acquisition of subsidiaries
2,317
–
–
–
2,317
At 30 June 2015 and 1 July 2015
2,317
–
–
–
2,317
Acquisition of a subsidiary
–
1,362
43
97
1,502
At 30 June 2016
2,317
1,362
43
97
3,819
Accumulated amortisation
At 1 July 2014
–
–
–
–
–
Amortisation
193
–
–
–
193
At 30 June 2015 and 1 July 2015
193
–
–
–
193
Amortisation
1,288
68
11
16
1,383
At 30 June 2016
1,481
68
11
16
1,576
Net carrying amount
At 30 June 2015
2,124
–
–
–
2,124
At 30 June 2016
836
1,294
32
81
2,243
Favourable
contract
$’000
Group
Current assets
Cost
Acquisition of a subsidiary and balance at end of the year
192
Accumulated amortisation
Amortisation
(115)
Net carrying value
77
Order books relate to an order or production backlog arises fromcontracts acquired during business combination.
Brand relates to brand name that was acquired in business combination.
Licenses relate to registered contractors work heads licenses, builders license and ISO certification that were
acquired in business combination.
Service agreement relates to appointment of previous owner of acquired company as Director of the Company.
Favourable contract relates to cost savings between committed lease payments and market rent that was
acquired in business combination.
The amortisation expense is charged to profit or loss and included in "Other operating expenses".
88
ISOTEAM LTD.
ANNUAL REPORT 2016
