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Notes to the financial statements 8

for the year ended 31 March 2012

Profit for the financial year

As permitted by Section 408 of the Companies Act 2006, the parent Company's profit and loss account has not been included in these financial statements. The parent Company's profit for the financial year was £48,191,000 (2011: £27,819,000).

9

Dividends 2012

2011

£'000

£'000

48,000

29,350

Dividends on ordinary shares: Ordinary paid of £153.35 per share (2011: £93.79)

10

Intangible assets Goodwill

Group

£'000

Cost At 1 April 2011

4,904

Additions (see note 28)

160,295

At 31 March 2012

165,199

Accumulated amortisation At 1 April 2011

245

Charge for the year

420

Impairment (see note 6)

29,847

At 31 March 2012

30,512

Net book value at 31 March 2012 Net book value at 31 March 2011

134,687 4,659

Goodwill arising on acquisitions is being amortised over the directors’ estimate of its useful economic life of 20 years. Following the refinancing and reorganisation undertaken during the year, management performed an impairment review at 31 March 2012. Based on a value in use calculation using a discount rate of 12% an impairment of £29,847,000 was made to the carrying value of goodwill and recognised as an exceptional item.

Keepmoat Annual Report and Financial Statements 2012Annual Report and Financial Statements 2012

33

Keepmoat plc Annual report and accounts 2012  
Keepmoat plc Annual report and accounts 2012  
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