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108
MARKS AND SPENCER GROUP PLC
FINANCIAL STATEMENTS
NOTES TO THE FINANCIAL STATEMENTS
CONTINUED
14 INTANGIBLE ASSETS
Goodwill
£m
Brands
£m
Computer
software
£m
Computer
software under
development
£m
Total
£m
At 29 March 2014
Cost or valuation 129.6 112.4 878.6 118.4 1,239.0
Accumulated amortisation and impairment (34.4) (50.5) (345.7) – (430.6)
Net book value 95.2 61.9 532.9 118.4 808.4
Year ended 28 March 2015
Opening net book value 95.2 61.9 532.9 118.4 808.4
Additions – 0.1 79.4 98.5 178.0
Transfers – – 130.1 (130.1) –
Disposals – – (1.4) – (1.4)
Asset write-o s – – (2.4) (1.2) (3.6)
Amortisation charge – (5.3) (117.4) – (122.7)
Exchange di erence 0.1 – (0.4) (0.2) (0.5)
Closing net book value 95.3 56.7 620.8 85.4 858.2
At 28 March 2015
Cost or valuation 129.7 112.5 1,087.7 86.6 1,416.5
Accumulated amortisation, impairments and write-o s (34.4) (55.8) (466.9) (1.2) (558.3)
Net book value 95.3 56.7 620.8 85.4 858.2
Year ended 2 April 2016
Opening net book value 95.3 56.7 620.8 85.4 858.2
Additions 6.2 – 92.9 93.9 193.0
Transfers ––91.2(91.2)–
Asset impairments (19.1) (32.5) (22.1) – (73.7)
Asset write-o s – – (11.9) (14.5) (26.4)
Amortisation charge – (5.3) (143.4) – (148.7)
Exchange di erence 0.3 (0.2) 0.2 0.1 0.4
Closing net book value 82.7 18.7 627.7 73.7 802.8
At 2 April 2016
Cost or valuation 136.2 112.3 1,272.0 89.4 1,609.9
Accumulated amortisation, impairments and write-o s (53.5) (93.6) (644.3) (15.7) (807.1)
Net book value 82.7 18.7 627.7 73.7 802.8
Goodwill and indefi nite life intangibles relate to the following groups of cash generating units (CGUs):
per una
£m
Czech Group
£m
India
£m
UK1
£m
Hungary
£m
Total
goodwill
£m
M&S Mode
indefi nite life
intangible
£m
Blue Harbour
indefi nite life
intangible
£m
Net book value at 28 March 2015 69.5 15.4 7.1 – 3.3 95.3 32.4 0.1
Additions –––6.2–6.2––
Exchange di erence – 0.4 (0.1) – – 0.3 – –
Asset impairments – (15.8) – – (3.3) (19.1) (32.4) (0.1)
Net book value at 2 April 2016 69.5 – 7.0 6.2 – 82.7 – –
1. The goodwill created on acquisition of the Lima (Bradford) S.à r.l. joint venture is supported by the UK retail business.
Acquisition in the year
On 29 February 2016, Marks and Spencer plc acquired the remaining 50% share in the joint venture, Lima (Bradford) S.à r.l. This company
owned an automated distribution centre in Bradford that is used by the Group. The acquisition resulted in the recognition of £6.2m of
goodwill, as a result of the consideration paid exceeding the fair value of the net assets acquired, attributable to the recognition of a
deferred tax liability in relation to the property. On 29 February 2016 the distribution centre was transferred to Marks and Spencer (Bradford)
Limited and on 1 March 2016 Lima (Bradford) S.à r.l. was put into liquidation. Refer to note 25 for further disclosures regarding this acquisition.