Umsobomvu Youth Fund Annual Report 2006 - Nyda

COMPANY AND GROUPSoftware SoftwareSoftware developed underpurchased in-house development TotalRand Rand Rand Rand6 Intangible assets31 March 2006Balance at beginning of year 836 657 1 214 266 – 2 050 923Current period movementsAdditions at cost 801 653 581 400 1 137 720 2 520 773Amortisation (382 957) (358 991) – (741 948)Balance at end of year 1 255 353 1 436 675 1 137 720 3 829 748Reconciliation:Assets at cost 2 260 311 1 915 200 1 137 720 5 313 231Accumulated amortisation (1 004 958) (478 525) – (1 483 483)Carrying amount 1 255 353 1 436 675 1 137 720 3 829 74831 March 2005Balance at beginning of year 267 048 – – 267 048Current period movementsAdditions at cost 345 375 1 333 800 – 1 679 175Amortisation (300 266) (298 836) – (599 102)Error in estimates adjustment – 2004 487 657 – – 487 657Error in estimates adjustment – 2005 36 843 179 302 – 216 145Balance at end of year 836 657 1 214 266 – 2 050 923Reconciliation:Assets at cost 1 458 658 1 333 800 – 2 792 458Accumulated amortisation (622 001) (119 534) – (741 535)Carrying amount 836 657 1 214 266 – 2 050 9237 GoodwillGROUP2006 2005RandRandGoodwill on acquisition of businessby subsidiary 2 971 000 –Umsobomvu Youth Fund 2006 Financial Statements65