7 07 0
Computer software
Quota NZ Units ETS
Total
$’000
$’000
$’000
$’000
Total intangible assets at 31 March 2011
Cost
413
20,340
105
20,858
Accumulated amortisation and impairment
(186)
-
-
(186)
Net book value
227
20,340
105
20,672
Balance at 31 March 2011
227
20,340
105
20,672
Additions
36
-
-
36
Amortisation and impairment
(146)
-
(74)
(220)
Balance at 31 March 2012
117
20,340
31
20,488
Total intangible assets at 31 March 2012
Cost
448
20,340
105
20,893
Accumulated amortisation and impairment
(331)
-
(74)
(405)
Net book value
117
20,340
31
20,488
Parent
Balance 31 March 2010
Opening net book amount
275
14,492
-
14,767
Additions
33
-
93
126
Amortisation and impairment
(101)
-
-
(101)
Balance 31 March 2011
207
14,492
93
14,792
Total intangible assets at 31 March 2011
Cost
391
14,492
93
14,976
Accumulated amortisation and impairment
(184)
-
-
(184)
Net book amount
207
14,492
93
14,792
Balance 31 March 2011
207
14,492
93
14,792
Additions
36
-
-
36
Amortisation and impairment
(146)
-
(65)
(211)
Balance 31 March 2012
97
14,492
28
14,617
Total intangible assets at 31 March 2012
Cost
428
14,492
93
15,013
Accumulated amortisation and impairment
(331)
-
(65)
(396)
Net book value
97
14,492
28
14,617
The Group is deemed a participant in the New Zealand Emission Trading Scheme (ETS) as it is an owner of fshing quota.
The carbon credits are not consumed in the production and the Group is able to either hold the New Zealand Units (NZU)
within the carbon register or alternatively trade the NZU’s in domestic and international carbon markets. The NZU’s are
not amortised but are tested for impairment on an annual basis or when indications of impairment exist. NZU’s relate
to 3,701 (Parent) and 490 (Group) units that were allocated by the Ministry for the Environment as part of the fsheries
allocation for quota owned. The units were valued at $7.50 per unit (2011: $25.00) resulting in an impairment charge to
the Group of $73,342 (2011: nil) and Parent of $64,768 (2011: nil).
notes to the financial Statements continued
Note 16 continued