We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Northacre | LSE:NTA | London | Ordinary Share | GB0006877939 | ORD 2.5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 95.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
----------- ----------- Amortisation and impairment At the beginning of the year 6,933,057 6,933,057 Impairment charge for the year - - ----------- ----------- At the end of the year 6,933,057 6,933,057 ----------- ----------- Net book value 8,007,417 8,007,417 =========== ===========
The Group performs an annual goodwill impairment review in accordance with IAS 36 'Impairment of Assets' based on its cash generating units (CGUs). The CGU that has associated goodwill allocated to it is the Group as a whole. This is the smallest identifiable group of assets that generate cash inflows to which goodwill is allocated. Although the interior design business is a separate CGU goodwill was not specifically allocated to it when the goodwill arose because it was treated as an integrated business when the Group was originally restructured. The Directors consider that it is now not appropriate to allocate goodwill to this CGU.
Recoverable amount
In accordance with IAS 36 the recoverable amount of the cash generating unit is calculated, being the higher of value in use and fair value less costs to sell.
The fair value less costs to sell of the CGU is determined using cash flow projections derived from the business plan covering a five year period which has been approved by the Board. They reflect the Directors' expectations of the level and timing of revenue, expenses, working capital and operating cash flows, based on past experience and future expectations of business performance particularly future development projects.
Discount rates
The pre-tax discount rate applied to the cash flow projections are derived from the Group's weighted average cost of capital. The discount rate applied is 6% (2013: 6%) reflecting the future expected cost of capital for the Group.
Growth rates
Due to the nature of the Group's development business growth rates are not relevant. The cash flow projections assume a 100% probability of winning a level of development projects over the five years and make assumptions on the probability of achieving certain development performance fee criteria.
The business growth rates have been assumed to be nil (2013: nil) for the Intarya interior design business.
Sensitivity analysis
The following point changes in assumptions would cause the recoverable amount to fall below the current carrying value:
-- A 41.3% increase in the discount rate to 47.3% for the latter five year period
-- A 25.6% decrease in the development revenue cash flows over the five year period
-- A 43.4% decrease in the other interior design revenue cash flows over the five year period
Property, plant and 14. equipment Fittings Group Leasehold and Office Computer Improvements Equipment Equipment Total Cost GBP GBP GBP GBP At 1(st) March 2012 1,115,434 70,672 381,769 1,567,875 Additions - - 6,700 6,700 Disposals - - (180,000) (180,000) ------------- At 28(th) February 2013 1,115,434 70,672 208,469 1,394,575 ============= ===================== ========== ========== Additions - 2,754 48,937 51,691 At 28(th) February 2014 1,115,434 73,426 257,406 1,446,266 ============= ===================== ========== ========== Depreciation At 1(st) March 2012 123,072 31,739 350,466 505,277 Charge for the year 113,605 13,904 22,560 150,069 Disposals - - (180,000) (180,000) At 28(th) February 2013 236,677 45,643 193,026 475,346 ============= ===================== ========== ========== Charge for the year 113,604 10,544 24,033 148,181 At 28(th) February 2014 350,281 56,187 217,059 623,527 ============= ===================== ========== ========== Net book value At 28(th) February 2014 765,153 17,239 40,347 822,739 ============= ===================== ========== ========== At 28(th) February 2013 878,757 25,029 15,443 919,229 ============= ===================== ========== ========== At 28(th) February 2012 992,362 38,933 31,303 1,062,598 ============= ===================== ========== ========== Fittings Company Leasehold and Office Computer Improvements Equipment Equipment Total Cost GBP GBP GBP GBP At 1(st) March 2012 1,173,914 - 180,000 1,353,914 Disposals - - (180,000) (180,000) At 28(th) February 2013 1,173,914 - - 1,173,914 ============= =========== ========== ========== Additions - - - - At 28(th) February 2014 1,173,914 - - 1,173,914 ============= =========== ========== ========== Depreciation At 1(st) March 2012 123,072 - 175,000 298,072 Charge for the year 113,605 - 5,000 118,605 Disposals - - (180,000) (180,000) ------------- At 28(th) February 2013 236,677 - - 236,677 ============= =========== ========== ========== Charge for the year 113,604 - - 113,604 At 28(th) February 2013 350,281 - - 350,281 ============= =========== ========== ========== Net book value At 28(th) February 2014 823,633 - - 823,633 ============= =========== ========== ========== At 28(th) February 2013 937,237 - - 937,237 ============= =========== ========== ========== At 28(th) February 2012 1,050,842 - 5,000 1,055,842 ============= =========== ========== ==========
There were no assets held under finance lease or hire purchase contracts.
15. Investments Available for sale financial (a) assets Group 2014 2014 2013 2013 GBP GBP GBP GBP At 1(st) March 22,148,579 40,810,580 Increase in The Lancasters Development fair value - 7,895,058 Dividend received (15,000,000) (26,557,059) Derecognition (7,148,575) - Increase in 1 Palace Street and 33 Thurloe Square fair value 8,824,655 - ------------- ------------- Net movement transferred from comprehensive income (13,323,920) (18,662,001) ------------- ------------- At 28(th) February 8,824,659 22,148,579 ============= ============= Net book value At 28(th) February 8,824,659 22,148,579 ============= ============= The decrease in available for sale financial assets represents GBP15.0m (2013: GBP26.5m) dividends received from The Lancasters Development and derecognition of the available for sale financial assets following the acquisition of Lancaster Gate (Hyde Park) Limited on 16(th) December 2013. The Company is committed to invest GBP10m into the 1 Palace Street development. At 28(th) February 2014 the Company had paid GBP8,824,640 of this commitment. The GBP15 investment in 33 Thurloe Square represents a 15% equity stake. At 28(th) February 2014 the Company had paid costs of GBP1,459,774 which have been treated as a shareholder loan and included within
1 Year Northacre Chart |
1 Month Northacre Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions