Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Intangible Assets (Tables)

v3.21.1
Intangible Assets (Tables)
12 Months Ended
Jan. 31, 2021
Disclosure of detailed information about intangible assets [abstract]  
Disclosure of Detailed Information About Intangible Assets
    31 January 2021
NZ$000’s
   

31 January 2020

NZ$000’s

 
Goodwill            
Cost     5,516       6,091  
Accumulated impairment     (5,516 )     (6,091 )
      -       -  
Patents and licences                
Cost     22,863       25,151  
Accumulated amortisation and impairment     (3,649 )     (3,489 )
      19,214       21,662  
Brands                
Cost     12,253       12,032  
Accumulated amortisation and impairment     (8,810 )     (5,401 )
      3,443       6,631  
Software and Website                
Cost     15,749       15,548  
Accumulated amortisation and impairment     (15,557 )     (15,548 )
      192       -  
Total Intangible assets     22,849       28,293
Disclosure of Detailed Information About Movements in Carrying Amounts of Intangible Assets
  (a) Movements in carrying amounts of intangible assets

 

    Goodwill
NZ$000’s
    Patents and licences
NZ$000’s
    Brands
NZ$000’s
    Software and Website
NZ$000’s
    Total
NZ$000’s
 
Year ended 31 January 2021                                        
Balance at the beginning of the year          -       21,662       6,631       -       28,293  
Additions     -       -       -       211       211  
Amortisation     -       (442 )     -       (16 )     (458 )
Impairment (note 7)     -       -       (3,333 )     -       (3,333 )
Foreign exchange movements     -       (2,006 )     145       (3 )     (1,864 )
Closing value at 31 January 2021     -       19,214       3,443       192       22,849  

 

   

Goodwill

NZ$000s

   

Patents and licences

NZ$000s

    Brands NZ$000s    

Software and Website

NZ$000s

   

 

Total

NZ$000s

 
                                         
Year ended 31 January 2020                                        
Balance at the beginning of the year     2,320       25,075       10,205       263       37,863  
Adjustments*     -       (2,310 )     -       -       (2,310 )
Amortisation     -       (589 )     -       -       (589 )
Impairment (note 7)     (2,480 )     (2,037 )     (3,694 )     (202 )     (8,413 )
Reclassification     -       -       -       (50 )     (50 )
Foreign exchange movements     160       1,523       120       (11 )     1,792  
Closing value at 31 January 2020     -       21,662       6,631       -       28,293  

 

* During the prior year, a financial liability relating to a shareholder loan on the balance sheet of Frederick’s of Hollywood (FOH) on the acquisition of FOH Online Corp Inc. was derecognised as the stock purchase agreement stipulated the transaction was debt free. This has resulted in a reduction to the carrying value of the acquired intangible asset with a write back to the profit and loss account for the accrued and capitalised interest.

Disclosure of Information for Cash-generating Units

For the purpose of impairment testing, goodwill is allocated to cash-generating units as below:

 

Description of the cash-generating unit (CGU)   For the Year Ended 31 January 2021
NZ $000’s
   

For the Year Ended 31 January 2020

NZ $000’s

 
United States     -       2,480  
Impairment of goodwill     -       2,480  

Disclosure of Impairment of Intangible Assets
   

For the Year

Ended 31

January 2021

NZ $000’s

    For the Year
Ended 31
January 2020
NZ $000’s
 
             
FOH licence     -       1,914  
Naked patents & licence         -       123  
Impairment of patents & licences     -       2,037
Disclosure of Detailed Information About Impairment of Indefinite-lived Brand Intangibles

Brand intangible assets represent brands owned by the Group, that arose on historical acquisitions including Pleasure State, Davenport and Lovable.

 

     

For the Year Ended 31 January 2021

NZ $000’s

     

For the Year Ended 31 January 2020

NZ $000’s

 
                 
Pleasure State     2,002       125  
Davenport and Lovable     1,331       1,439  
Naked     -       2,130  
Impairment of indefinite-lived brand intangibles     3,333       3,694