13. Intangible assets
|
Brands
£m |
|
Software and
licences
£m |
|
Contracts and
committed
sales
£m |
|
Customer
lists and
relationships
£m |
|
Goodwill
£m |
|
Sub-total
£m |
|
Other
intangibles
£m |
|
Total
£m |
| Cost |
|
| At 1 January 2007 |
5.9 |
|
2.0 |
|
6.9 |
|
34.6 |
|
601.4 |
|
650.8 |
|
13.4 |
|
664.2 |
| Recognition of intangibles – prior year acquisitions |
0.1 |
|
0.3 |
|
– |
|
3.0 |
|
(2.4) |
|
1.0 |
|
– |
|
1.0 |
| Subsidiaries acquired |
2.8 |
|
3.7 |
|
– |
|
8.6 |
|
105.8 |
|
120.9 |
|
– |
|
120.9 |
| Additions |
– |
|
– |
|
5.0 |
|
– |
|
– |
|
5.0 |
|
– |
|
5.0 |
| At 31 December 2007 |
8.8 |
|
6.0 |
|
11.9 |
|
46.2 |
|
704.8 |
|
777.7 |
|
13.4 |
|
791.1 |
| Recognition of intangibles – prior year acquisitions |
0.1 |
|
– |
|
– |
|
12.5 |
|
(9.1) |
|
3.5 |
|
– |
|
3.5 |
| Subsidiaries acquired |
2.8 |
|
8.5 |
|
8.3 |
|
23.6 |
|
134.7 |
|
177.9 |
|
– |
|
177.9 |
| At 31 December 2008 |
11.7 |
|
14.5 |
|
20.2 |
|
82.3 |
|
830.4 |
|
959.1 |
|
13.4 |
|
972.5 |
| Amortisation and impairment |
|
| At 1 January 2007 |
2.3 |
|
1.0 |
|
3.8 |
|
6.1 |
|
12.0 |
|
25.2 |
|
9.0 |
|
34.2 |
| Amortisation during the year |
1.6 |
|
1.1 |
|
0.9 |
|
6.1 |
|
– |
|
9.7 |
|
1.5 |
|
11.2 |
| At 31 December 2007 |
3.9 |
|
2.1 |
|
4.7 |
|
12.2 |
|
12.0 |
|
34.9 |
|
10.5 |
|
45.4 |
| Amortisation during the year |
2.1 |
|
2.1 |
|
1.8 |
|
12.6 |
|
– |
|
18.6 |
|
1.5 |
|
20.1 |
| At 31 December 2008 |
6.0 |
|
4.2 |
|
6.5 |
|
24.8 |
|
12.0 |
|
53.5 |
|
12.0 |
|
65.5 |
| Net book value |
|
| At 1 January 2007 |
3.6 |
|
1.0 |
|
3.1 |
|
28.5 |
|
589.4 |
|
625.6 |
|
4.4 |
|
630.0 |
| At 31 December 2007 |
4.9 |
|
3.9 |
|
7.2 |
|
34.0 |
|
692.8 |
|
742.8 |
|
2.9 |
|
745.7 |
| At 31 December 2008 |
5.7 |
|
10.3 |
|
13.7 |
|
57.5 |
|
818.4 |
|
905.6 |
|
1.4 |
|
907.0 |
During the year a total of £12.6m (2007: £3.4m) of intangible assets was recognised in respect of prior year acquisitions. This amount was previously reflected within goodwill. As required by IAS 12, deferred taxation is recognised in respect of these items, the impact of this was to increase goodwill in 2008 by £3.5m (2007: £1.0m) and to create a deferred tax liability of the same amount.
The amount in ‘other intangibles’ represents the consideration paid to AON to acquire the contract for the administration of the miners’ personal injury liability claims on behalf of the Department of Energy and Climate Change.