Development Costs comprise capitalised experimental development costs related to social sciences, namely the development of AI-driven psychometric solutions.
Intangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated amortisation and impairment losses. The cost of internally generated intangible assets comprises directly attributable costs of labour and sucontractors, necessary to generate the asset.
Intangible assets are amortised from the date they are available for use. Amortisation is charged to the Income Statement on a straight-line basis over the estimated useful life of the intangible assets, which are as follows:
- Website and branding: 5 years
- Development Costs: yet to be determined
Intangible assets with an indefinite useful life are tested for impairment annually. Amortisation periods and methods are reviewed annually and adjusted if appropriate.
Any intangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.