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Wool Stocktake : AWI Annual Report 2017-18
NOTES TO THE FINANCIAL STATEMENTS 30 JUNE 2018 (CONTINUED) NOTE 12: NON-CURRENT ASSETS – INTANGIBLE ASSETS Certification trademarks Website development costs Total $'000 $'000 $'000 At 1 July 2016 Cost 10,000 - 10,000 Accumulated amortisation and impairment - - - Net book amount 10,000 - 10,000 Year ended 30 June 2017 Opening net book amount 10,000 - 10,000 Amortisation charge - - - Closing net book amount 10,000 - 10,000 At 30 June 2017 Cost 10,000 - 10,000 Accumulated amortisation and impairment - - - Net book amount 10,000 - 10,000 Year ended 30 June 2018 Opening net book amount 10,000 - 10,000 Additions - 1,578 1,578 Amortisation charge - - - Closing net book amount 10,000 1,578 11,578 At 30 June 2018 Cost 10,000 1,578 11,578 Accumulated amortisation and impairment - - - Net book amount 10,000 1,578 11,578 A value of $10,000,000 is allocated to the Woolmark certification and ordinary trademarks and, based on a review of the current operations to date and intentions for future use, the directors are satisfied that no impairment of the carrying value has arisen since acquisition. The Woolmark certification and trademarks, with an indefinite expected useful life, are expected to generate cash flows over an indefinite period of time. The directors are committed to providing market research to support the profile of the certification and the trademarks. The directors strive to build the reputation of the Woolmark certification and trademarks to consolidate its brand recognition globally. NOTE 13: NON-CURRENT ASSETS - OTHER ASSETS Consolidated 2018 2017 $'000 $'000 Lease deposits 632 587 88 FINANCIAL REPORT
AWI Annual Report 2016-17