ITF Trust Annual Report and Financial Statements 2021 29
23. Intangible assets
Internally generated
so ware
$000
Internally generated
so ware
(under construc on)
$000
Total
$000
Cost
Balance at 1 January 2020 4,128 282 4,410
Addi ons 1,778 84 1,862
Balance at 31 December 2020 5,906 366 6,272
Balance at 1 January 2021 5,906 366 6,272
Addi ons 1,310 6 1,316
Balance at 31 December 2021 7,216 372 7,588
Accumulated amor sa on
Balance at 1 January 2020 1,194 - 1,194
Charge for the year 1,703 - 1,703
Balance at 31 December 2020 2,897 - 2,897
Balance at 1 January 2021 2,897 - 2,897
Charge for the year 1,924 - 1,924
Balance at 31 December 2021 4,821 - 4,821
Net book value
at 31 December 2019 2,934 282 3,216
at 31 December 2020 3,009 366 3,375
at 31 December 2021 2,395 372 2,767
So ware under construc on consists of capitalised development costs, being an internally generated intangible asset.
Specifically this relates to the development of the online ITF Academy which offers tennis coaching educa on and courses.
Amor sa on will be charged when the asset is substan ally ready for use.
Other internally generated so ware relates to the investment in the ITF's IPIN system, website development costs and
other so ware development including capitalised IT staff costs.
