Notes to the annual financial statements
for the year ended 31 December 2008
| Group | Company | |||||
| 2008 | 2007 | 2008 | 2007 | |||
| Note | R’000 | R’000 | R’000 | R’000 | ||
| 13. | Intangible assets | |||||
| Computer software | 13.1 | 4,745 | – | 2,381 | – | |
| Goodwill | 13.2 | 4,004 | – | – | – | |
| Deferred acquisition costs | 13.3 | 122,407 | 113,127 | 110,103 | 102,680 | |
| 131,156 | 113,127 | 112,484 | 102,680 | |||
| All intangible assets are non-current except for deferred acquisition costs which are current. | ||||||
| 13.1 | Computer software | |||||
| Cost | ||||||
| At beginning of the year | – | – | – | – | ||
| Additions | 8,927 | – | 2,832 | – | ||
| At end of the year | 8,927 | – | 2,832 | – | ||
| Accumulated depreciation | ||||||
| At beginning of the year | – | – | – | – | ||
| Depreciation charge for the year | 4,182 | – | 451 | – | ||
| At end of the year | 4,182 | – | 451 | – | ||
| Carrying amount | ||||||
| At beginning of the year | – | – | – | – | ||
| At end of the year | 4,745 | – | 2,381 | – | ||
| 13.2 | Goodwill | |||||
| Cost and carrying amount | ||||||
| At beginning of the year | – | – | – | – | ||
| Acquisition | 4,004 | – | – | – | ||
| At end of the year | 4,004 | – | – | – | ||
| Goodwill arose on the acquisition of a subsidiary in the current year. (Refer to note 8.2.) | ||||||
| 13.3 | Deferred acquisition costs | |||||
| At beginning of the year | 113,127 | 98,736 | 102,680 | 98,736 | ||
| Acquisition cost raised during the year | 775,243 | 632,996 | 737,980 | 613,297 | ||
| Acquisition cost incurred | (765,963) | (618,605) | (730,557) | (609,353) | ||
| At end of the year | 122,407 | 113,127 | 110,103 | 102,680 | ||
