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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Bright Things | LSE:BGT | London | Ordinary Share | GB00B00S8650 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.375 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
+--------------------------------------+----------------------------+-------------------------+ | ASIC Intellectual property rights | 3 years | Cost | +--------------------------------------+----------------------------+-------------------------+ | SocialGO Intellectual property | 5 years | Cost | | rights | | | +--------------------------------------+----------------------------+-------------------------+ | Goodwill | Annual impairment reviews | Fair value - purchase | | | | accounting | +--------------------------------------+----------------------------+-------------------------+ Impairment of Intangible Assets Impairment tests on goodwill and assets in the course of construction are undertaken annually at the financial year end. Other non-financial assets are subject to impairment tests whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. Where the carrying value of an asset exceeds its recoverable amount (i.e. the higher of value in use and fair value less costs to sell), the asset is written down accordingly. Where it is not possible to estimate the recoverable amount of an individual asset, the impairment test is carried out on the asset's cash-generating unit (i.e. the lowest group of assets in which the asset belongs for which there are separately identifiable cash flows). Impairment charges are included in the administrative expenses line item in the consolidated income statement, except to the extent they reverse gains previously recognised in the consolidated statement of recognised income and expense. Consideration of impairment indicators and an impairment test (if required) may be performed at any time during an annual period, provided it is performed at the same time every year. Different intangible asset may be tested for impairment at different times. The Board of Bright Things consider impairment of intangible assets annually at the balance sheet date. Internally generated intangible assets (research and development costs) Research and development Expenditure on internally developed products is capitalised if it can be demonstrated that: * it is technically feasible to develop the product for it to be sold; * adequate resources are available to complete the development; * there is an intention to complete and sell the product; * the group is able to sell the product; * sale of the product will generate future economic benefits; and * expenditure on the project can be measured reliably. Capitalised development costs are amortised straight-line over the useful economic life being the period that prudently simulates the flow of revenues from a typical product. At the close of each fiscal year products are reviewed for any loss of value where there is an indication of impairment. Where the expected contribution made by a product does not exceed the expected total cost of development then an impairment provision is made. The amortisation expense is included within administrative expenses in the consolidated income statement. Development expenditure not satisfying the above criteria and expenditure on the research phase of internal projects are recognised in the consolidated income statement as incurred. Deferred taxation Deferred tax assets and liabilities are recognised where the carrying amount of an asset or liability in the balance sheet differs from its tax base, except for differences arising on: * the initial recognition of goodwill; and * the initial recognition of an asset or liability in a transaction which is not a business combination and at the time of the transaction affects neither accounting or taxable profit. Recognition of deferred tax assets is restricted to those instances where it is probable that future taxable profit will be available against which the difference can be utilised. The amount of the asset or liability is determined using tax rates that have been enacted or substantively enacted by the balance sheet date and are expected to apply when the deferred tax liabilities/(assets) are settled/(recovered). Deferred tax assets and liabilities are offset when the group has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority on either: * the same taxable group company; or * different group entities which intend either to settle current tax assets and liabilities on a net basis, or to realise the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax assets or liabilities are expected to be settled or recovered. Property, plant and equipment Property, plant and equipment are stated at cost net of accumulated depreciation and provision for impairment. Depreciation is provided on all property plant and equipment, at rates calculated to write off the cost less estimated residual value, of each asset on a straight-line basis over its expected useful life. The residual value is the estimated amount that would currently be obtained from disposal of the asset if the asset were already of the age and in the condition expected at the end of its useful economic life. The method of depreciation for each class of depreciable asset is: Computer equipment - 3 years straight line Office fixtures, fittings & equipment - 3 years straight line The carrying value of tangible fixed assets is assessed annually and any impairment is charged to the income statement. Taxation Corporation tax payable is provided on taxable profits at prevailing rates. Licence fees Licence fees payable to organisations for use of their Intellectual Property are charged to the income statement over their useful economic lives, which, to the Group, equates to the forecast period of product sales. Management regularly reviews the carrying value of such licences. All licence fees in these Group financial statements have been charged to the income statement as incurred. Royalties payable Royalties are accounted for as payable when units of hardware or software are sold into the sales channel by our distributor and calculated in accordance with the commercial terms entered into with licensors Segmental information The Group operates in the following main business segments: SocialGO; Interactive DVD software ASIC chips; ASIC sales development kit; Sales of component parts from stock; and Bubble hardware and software. The Group's primary reporting format is business segments. All amounts relate to continuing activities. +--------------------------+----------+---------+----------+-----------+-------------+----------+-----------+----------+ | Year ended 31 March | | | | | | | | | | 2009 | | | | | | | | | +--------------------------+----------+---------+----------+-----------+-------------+----------+-----------+----------+ | | | | Business Segments | | | | | +--------------------------+----------+---------+----------------------+-------------+----------+-----------+----------+ | | Bubble | ASIC | i-DVD | Sale of | ASIC sales | SocialGO | Not | Total | | | hardware | chips | software | component | development | | allocated | | | | and | | | stock | kit | | | | | | software | | | | | | | | +--------------------------+----------+---------+----------+-----------+-------------+----------+-----------+----------+ | | GBP'000 | GBP'000 | GBP'000 | GBP'000 | GBP'000 | GBP'000 | GBP'000 | GBP'000 | | | | | | | | | | | +--------------------------+----------+---------+----------+-----------+-------------+----------+-----------+----------+ | | | | | | | | | | +--------------------------+----------+---------+----------+-----------+-------------+----------+-----------+----------+ | Total segment revenue | - | - | 21 | - | - | 9 | - | 30 | +--------------------------+----------+---------+----------+-----------+-------------+----------+-----------+----------+ | | | | | | | | | | +--------------------------+----------+---------+----------+-----------+-------------+----------+-----------+----------+ | Cost of sales | - | - | (3) | (2) | - | (43) | - | (48) | +--------------------------+----------+---------+----------+-----------+-------------+----------+-----------+----------+ | | | | | | | | | | +--------------------------+----------+---------+----------+-----------+-------------+----------+-----------+----------+ | | | | | | | | | |
1 Year Bright Things Chart |
1 Month Bright Things Chart |
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