CGE ANNUAL REPORT

2022/23 ANNUAL REPORT

Financial Statements for the year ended 31 March 2023

Notes to the Financial Statements for the year ended 31 March 2023

Figures in Rand

2023

2022

7.

Intangible assets

2023

2022

Carrying value

Carrying value

Cost / Valuation

Accumulated amortisation and accumulated impairment

Cost / Valuation

Accumulated amortisation and accumulated impairment

Computer Software

907 071 30 621

(400 289)

506 782 30 621

814 480 30 621

(313 335)

501 145 30 621

Intangible assets under development

-

-

Total

937 692

(400 289)

537 403

845 101

(313 335)

531 766

Reconciliation of intangible assets - 2023

Opening balance

Additions Amortisation

Total

Computer Software

501 145 30 621 531 766

92 590

(86 953)

506 782 30 621 537 403

Intangible assets under development

-

-

92 590

(86 953)

Reconciliation of intangible assets - 2022

Opening balance

Additions Disposals Amortisation

Total

Computer Software

148 965 508 150 (64 764)

(91 206)

501 145 30 621 531 766

Intangible assets under development

30 621

-

-

-

179 586 508 150 (64 764)

(91 206)

Intangible assets in the process of being constructed or developed

Cumulative expenditure recognised in the carrying value of Intangible assets

Intangible assets under development

30 621

30 621

The intangible asset under development relates to Human Resources Management System. The system was envisaged to go live in 2022/2023, however, capacity constraints in Human Resources Department caused a further delay. In the current year under review, the system had started with the configurations with the intention to go live.Therefore it is foreseen that this will be activated during 2024 financial year at no additional significant cost.

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