78
SUNNINGDALE TECH LTD
ANNUAL REPORT 2014
NOTES TO THE FINANCIAL STATEMENTS
For the financial year ended 31 December 2014
NOTES TO THE FINANCIAL STATEMENTS
13.
Property, plant and equipment (cont’d)
Reversal/Impairment of assets
During the financial year, management carried out a review on the recoverable amount of plant and equipment based on
their working conditions. The recoverable amount was based on its value in use. A reversal of impairment loss of $228,000,
representing the recovery of these plant and equipment to the recoverable amount was recognised in “Other income” (Note 6).
In the previous financial year, an impairment loss of $1,465,000, representing the write-down of these plant and equipment to
the recoverable amount was recognised in “Other operating expenses” (Note 7).
Assets pledged as security
As at 31 December 2014, property, plant and equipment of the Group amounting to $3,446,000 (2013: $3,013,000) were
pledged to secure the bank loans.
14.
Intangible assets
Group
Goodwill
Customer
relationships
Customer
contracts
Order
backlog
Club
membership
Total
$’000
$’000
$’000
$’000
$’000
$’000
2014
Cost:
At 1 January 2014
220,026
1,554
1,442
61
56
223,139
Acquisition of a subsidiary
–
7,282
–
–
15
7,297
Currency realignment
–
135
–
–
–
135
At 31 December 2014
220,026
8,971
1,442
61
71
230,571
Accumulated
amortisation and
impairment:
At 1 January 2014
207,348
1,107
1,442
61
56
210,014
Amortisation
–
447
–
–
–
447
Impairment
–
–
–
–
15
15
At 31 December 2014
207,348
1,554
1,442
61
71
210,476
Net carrying amount:
At 31 December 2014
12,678
7,417
–
–
–
20,095
