Other intangible assets comprise software licences, branding assets, a customer database, and domain names that were gifted to the company by the director during the period. These are recognised at fair value at the date of contribution.
The assets are amortised to the profit and loss account over their estimated useful lives as follows:
- VR simulation software licence: 5 years (straight-line)
- Trademark and branding: 5 years (straight-line)
- Customer database: 3 years (straight-line)
- Domain names: Not amortised, but subject to annual impairment review