CIPC Annual Report V1

Companies and Intellectual Property Commission Annual Financial Statements for the year ended 31 March 2021 Notes to the Annual Financial Statements

2021

2020

R '000

R '000

7.

Intangible assets

2021

2020

Cost

Accumulated amortisation and accumulated impairment

Carrying value Cost

Accumulated amortisation and accumulated impairment

Carrying value

Capitalised computer software

68 733

(36 992)

31 741

55 045

(28 320)

26 725

Reconciliation of intangible assets - 2021

Opening balance

Additions derecognition Amortisation Total

Capitalised computer software

26 725

14 434

(6)

(9 412)

31 741

Reconciliation of intangible assets - 2020

Opening balance

Additions Amortisation Total

Capitalised computer software

37 029

439

(10 743)

26 725

8.

Changes in accounting estimates

Property, plant and equipment

Management reviewed the estimated useful lives of property, plant and equipment at the end of the annual reporting year as required by GRAP 17. The useful lives of certain assets were deemed to be longer and the effect of the reassessment, assuming the assets are held until the end of their useful lives, was to decrease the depreciation expense by:

Reassessment of property plant and equipment useful lives

1 921

460

Intangible assets

Management reviewed the estimated useful lives of intangible assets at the end of the annual reporting year as required per GRAP 31. The useful lives of certain assets were deemed to be longer and the effect of the reassessment, assuming the assets are held until the end of their useful lives is a decrease in the amortisation expense by:

Reassessment of intangible assets useful lives

157

4

9.

Operating lease asset (accrual)

Current assets Current liability

-

285

(12)

(8)

Non-current liability

(111)

(66)

(123)

211

Lease assets and accruals arise due to the straight lining of operating lease expenditure over the term of the lease.

Refer to note 18 for details of operating lease expenditure and note 26 for operating lease commitments.

22

COMPANIES AND INTELLECTUAL PROPERTY COMMISSION I Annual Report 2020/21

92