GPW_AR_2013_Final_v10.pdf

125 year anniversary

NOTES TO THE ANNUAL FINANCIAL STATEMENTS Annual Financial Statements for the year ended 31 March 2013

7. INTANGIBLE ASSETS

2013

2012

Cost / valuation

Accumulated depreciation

Carrying value

Cost / valuation

Accumulated depreciation

Carrying value

Computer software Intangible assets under development

20,821

(2,090)

18,731

- -

- -

- -

6,482

-

6,482

Total

27,303

(2,090)

25,213

-

-

-

Reconciliation of intangible assets - 2013

2013

Opening balance

Additions

Transfers

Amortisation

Total

Computer software Intangible assets under development

- -

8,756 6,261

12,065

(2,090)

18,731

221

-

6,482

Total

-

15,017

12,286

(2,090)

25,213

8. INVENTORIES

2013

2012

R ‘000

R ‘000

Raw materials, components

79,788 21,550 51,322

75,270 29,627 34,871

Work in progress Finished goods

Consumables

3,795

-

Subtotal

156,455

139,768 (1,334) 138,434

Inventories (write-downs)

(610)

155,845

Inventories are valued consistent to previous years as stated in note 1.5. During the year under review slow moving and obsolete stock amounting to R nil (2012: R nil) were written off. An decrease in the provision for slow moving and obsolete stock amounting to R 724 thousand (2012: R 411 thousand) was passed during the current ½ nancial year.

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