Punch Taverns plc 2011 Annual Report

Punch Taverns plc
Annual Report and Financial Statements 2011
71
13 Goodwill, operating leases and other intangible assets
Operating
leases
£m
Other
intangible
assets
£m
Goodwill
£m
Cost
At 22 August 2009 163.6 15.5 504.1
Additions – 0.9 –
Disposals (3.4) – (9.0)
At 21 August 2010 160.2 16.4 495.1
Additions – 0.5 –
Disposals (3.2) – –
Demerger of the Spirit business (116.1) (1.3) (241.6)
At 20 August 2011 40.9 15.6 253.5
Amortisation
At 22 August 2009 95.6 8.9 –
Reclassification 1 (24.3) – –
Charge for the year 4.5 2.2 –
Disposals (1.9) – –
At 21 August 2010 73.9 11.1 –
Charge for the year 4.0 2.9 –
Disposals (2.7) – –
Impairment (note 14) 11.2 – 82.7
Demerger of the Spirit business (51.9) (0.7) (10.3)
At 20 August 2011 34.5 13.3 72.4
Governance Business review
Net book value at 20 August 2011 6.4 2.3 181.1
Net book value at 21 August 2010 86.3 5.3 495.1
1
Reclassification of amortisation between operating leases and tangible fixed assets.
Included within operating leases are properties with a net book value of £4.8m (August 2010: £78.7m) over which the Group’s
borrowings are secured by way of fixed and floating charges.
Other intangible assets relate to computer software.
Financial statements