ITF Trust Annual Report and Financial Statements 2022 28
23. Intangible assets
Internally generated
so ware
$000
Internally generated
so ware
(under construc on)
$000
Total
$000
Cost
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
Balance at 1 January 2022 7,216 372 7,588
Addi ons 1,237 14 1,251
Balance at 31 December 2022 8,453 386 8,839
Accumulated amor sa on
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
Balance at 1 January 2022 4,821 - 4,821
Charge for the year 1,663 - 1,663
Balance at 31 December 2022 6,484 - 6,484
Net book value
at 31 December 2020 3,009 366 3,375
at 31 December 2021 2,395 372 2,767
at 31 December 2022 1,969 386 2,355
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 cer fied tennis coaching 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, tournament management system,
customer data pla orm and other development costs including capitalised IT staff costs.
Notes (continued, forming part of the financial statements)
