Notes to the Group Financial Statements (continued)
for the year ended 31st December 2012
14. intangible assets (continued)
other intangible assets
As at 31st December 2012
Brand customer insurance Lettings order
names contracts Renewals contracts Book other 1 total
£’000 £’000 £’000 £’000 £’000 £’000 £’000
cost
At 1st January 2012 17,723 47,274 5,612 2,246 5,451 1,127 79,433
Arising on acquisition during the year 448 158 – – – 333 939
Disposals – (30,116) – – – – (30,116)
At 31st December 2012 18,171 17,316 5,612 2,246 5,451 1,460 50,256
Aggregate amortisation and impairment
At 1st January 2012 191 44,083 5,612 2,102 5,382 1,021 58,391
Disposals – (30,116) – – – – (30,116)
Charge for the year – 3,217 – 144 69 42 3,472
At 31st December 2012 191 17,184 5,612 2,246 5,451 1,063 31,747
carrying amount
At 31st December 2012 17,980 132 – – – 397 18,509
As at 31st December 2011
Brand customer insurance Lettings order
names contracts Renewals contracts Book other 1 total
£’000 £’000 £’000 £’000 £’000 £’000 £’000
cost
At 1st January 2011 5,999 47,274 5,612 2,044 5,323 1,127 67,379
Arising on acquisition during the year 11,724 – – 202 128 – 12,054
At 31st December 2011 17,723 47,274 5,612 2,246 5,451 1,127 79,433
Aggregate amortisation and impairment
At 1st January 2011 38 36,542 4,841 2,044 5,323 978 49,766
Impairment 153 – – – – – 153
Charge for the year – 7,541 771 58 59 43 8,472
At 31st December 2011 191 44,083 5,612 2,102 5,382 1,021 58,391
carrying amount
At 31st December 2011 17,532 3,191 – 144 69 106 21,042
1
Other relates to in-house software and franchise agreements.
The brand value relates to the following:
• Your Move, a network of estate agencies and e.surv Chartered Surveyors, a surveying company which were acquired by the Group in 2004;
• Reeds Rains, a network of estate agencies which was acquired by the Group in October 2005;
• ICIEA, a network of estate agencies which was acquired by the Group in February 2007;
• David Frosts Estate Agents, a network of estate agencies which was acquired by the Group in July 2007;
• JNP Estate Agents, a network of estate agencies which was acquired by the Group in September 2007;
• Goodfellows Estate Agents, a network of estate agencies which was acquired in May 2010;
• AMF (trading as Pink Home Loans) was acquired in December 2010;
• Marsh & Parsons, a network of estate agencies was acquired in November 2011;
• Davis Tate, a network of estate agencies which was acquired in February 2012; and
• Lauristons, a network of estate agencies which was acquired in July 2012.
The businesses are run as separate reporting units within the Group. There have been no fundamental changes to the manner in which the
businesses have been run since their acquisition and therefore the results of the businesses are considered to be derived from the brand names
nationally.
At 31st December 2011, £2.4m of the balance in respect of customer contracts related to one contract. This was fully amortised in the year ended
31st December 2012, as the contract has now ended.
86 ANNUAL REPORT AND ACCOUNTS 2012