names and
Computer software
At 30 March 20121.114.92.324.4344.5387.2
At 29 March 20131.114.92.315.5344.5378.3
At 28 March 20141.114.92.318.9344.5381.7
At 30 March 20121.
Charge for the period1.
At 29 March 20131.
Charge for the period1.
At 28 March 20141.
Net book value at 28 March 20148.02.09.4322.8342.2
Net book value at 29 March 20139.62.17.7322.8342.2

No intangible assets are held as security for external borrowings.

Included in computer software are internally generated assets of £0.3m (2013: £0.3m). Product rights of £0.2m, which are fully amortised, have been included within Brand names and trademarks.

Goodwill of £253.1m (2013: £253.1m) arose on the acquisition of Halfords Holdings Limited by the Company on 31 August 2002 and is allocated to the Retail segment. The goodwill relates to a portfolio of sites within the UK which management monitors on an overall basis as a group of cash-generating units. Goodwill of £69.7m arose on the acquisition of Nationwide Autocentres on 17 February 2010 and is allocated to the car servicing segment. The goodwill relates to a portfolio of centres within the UK which management monitors on an overall basis as a group of cash-generating units being Car Servicing.

The goodwill arising on the acquisition of the Nationwide Autocentres is attributable to (a) future income to be generated from new retail, fleet customer contracts and related relationships, (b) the workforce, (c) the value of immaterial other intangible assets and (d) operating synergies.

The recoverable amount of goodwill is determined based on "value-in-use" calculations for each of the two groups of cash-generating units, being Retail and Car Servicing. This is the lowest level within the Group at which the goodwill is monitored for internal management purposes, which is not higher than the Group's operating segments as reported in note 1. These calculations use cash flow projections based on financial budgets approved by management covering a three-year period with growth no higher than past experience and after consideration of all available information, incorporating the strategies and risks of each segment.

The key assumptions, to which the Group of cash-generating units recoverable amounts are most sensitive, used to determine value-in-use of goodwill held at 28 March 2014 and 29 March 2013 are as follows:

RetailCar Servicing
Discount rate17.9%8.1%10.3%9.0%
Growth rate20.0%0.0%1.0%1.0%


  1. Pre-tax discount rate applied to the cash flow projections.
  2. Growth rate used to extrapolate cash flows beyond the three year budget period.

The Directors are confident that a reasonably possible change in the key assumptions, including a +/- 1.0% change in the discount rate, would not cause the carrying amounts to exceed the recoverable amounts.