This excerpt taken from the RTRSY 6-K filed Mar 11, 2005.
Analysis of development & software licence impact in 2004
How does this all impact our 2004 numbers? As you can see from the slide in your booklet, we spent £132 million on development and
However, IFRS also requires that all capital assets, whether acquired or internally generated, be subject to impairment review, if something happens
We have concluded that it is appropriate to take an impairment charge of £34 million in 2004 against the carrying value of these capitalised assets. Part
The other asset we capitalised and subsequently impaired is our new order entry billing system which is currently being thoroughly reviewed with a view