AFRICAN DAWN ANNUAL REPORT 2017 Notes to the Financial Statements Annual Financial Statements For the year ended 28 February 2017 continued 55 5. Intangible assets Group 2017 2016 R’000 R’000 Cost Accumulated amortisation and impairment Carrying amount Cost Accumulated amortisation and impairment Carrying amount Micro finance software 2,030 (1,263) 767 1,756 (911) 845 Contractual customer contracts on acquisition of Knife Capital Group 6,543 (3,854) 2,689 6,543 (2,532) 4,011 Yuedilligence 328 (9) 319 299 - 299 Total 8,901 (5,126) 3,775 8,598 (3,443) 5,155 Opening balance Additions Amortisation Impairment Closing balance Micro finance software 845 274 (352) - 767 Contractual customer contracts on acquisition of Knife Capital Group Contractual customer contracts 4,011 - (1,322) - 2,689 Yuedilligence 299 29 (9) - 319 5,155 303 (1,683) - 3,775 Reconciliation of intangible assets - Group - 2017 Opening balance Additions Amortisation Impairment Closing balance Micro finance software 1,147 47 (349) - 845 Contractual customer contracts on acquisition of Knife Capital Group Contractual customer contracts 5,332 - (1,321) - 4,011 Yuedilligence - 299 - - 299 6,479 346 (1,670) - 5,155 Reconciliation of intangible assets - Group - 2016 Contractual customer contracts The intangible assets recognised on the acquisition of Knife Capital Group relate to contractual customer relationships and have a useful life of 3 to 6 years.
AFRICAN DAWN 2017
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