Section 6
Intangible assets 2023/24
| Total £000 | Software licences / purchased licences £000 |
|
| Valuation / Gross cost at 1 April 2023 brought forward | 1,756 | 1,756 |
| Gross cost at 31 March 2024 | 1,756 | 1,756 |
| Amortisation at 1 April 2023 brought forward | 1,669 | 1,669 |
| Provided during the year | 41 | 41 |
| Amortisation at 31 March 2024 | 1,710 | 1,710 |
| Net book value | ||
| NBV - Purchased at 31 March 2024 | 46 | 46 |
| NBV total at 31 March 2024 | 46 | 46 |
Intangible assets 2022/23
| Total £000 | Software licences / purchased licences £000 |
|
| Valuation / Gross cost at 1 April 2022 brought forward | 2,412 | 2,412 |
| Disposals | (656) | (656) |
| Gross cost at 31 March 2023 | 1,756 | 1,756 |
| Amortisation at 1 April 2022 brought forward | 2,206 | 2,206 |
| Provided during the year | 119 | 119 |
| Disposals | (656) | (656) |
| Amortisation at 31 March 2023 | 1,669 | 1,669 |
| Net book value | ||
| NBV - Purchased at 31 March 2023 | 87 | 87 |
| NBV total at 31 March 2023 | 87 | 87 |
6.2 Economic Lives of Intangible Assets
Useful lives reflect the total life of an asset and not the remaining life of an asset.
The range of useful lives is shown in the table below:
| Min Life Years | Max Life Years | |
| Software licences | 3 | 5 |
