52 annual report 2012  kAThMANdu 13 INTANGIBLE ASSETS Group  Goodwill nZ$’000 Brand nZ$’000 Software nZ$’000 total nZ$’000 As at 31 July 2010 Cost or valuation 76,677 165,285 3,065 245,027 Accumulated amortisation  (1,271) - (1,931) (3,202) Closing net book value 75,406 165,285 1,134 241,825 Year ended 31 July 2011 Opening net book value 75,406 165,285 1,134 241,825 Additions - - 676 676 Amortisation - - (862) (862) Exchange differences - 2,023 23 2,046 Closing net book value 75,406 167,308 971 243,685 As at 31 July 2011 Cost or valuation 76,677 167,308 3,764 247,749 Accumulated amortisation  (1,271) - (2,793) (4,064) Closing net book value 75,406 167,308 971 243,685 Year ended 31 July 2012 Opening net book value 75,406 167,308 971 243,685 Additions - - 3,985 3,985 Disposals - - (9) (9) Amortisation - - (1,599) (1,599) Exchange differences - 3,018 12 3,030 Closing net book value 75,406 170,326 3,360 249,092 As at 31 July 2012 Cost or valuation 76,677 170,326 7,801 254,804 Accumulated amortisation  (1,271) - (4,441) (5,712) Closing net book value 75,406 170,326 3,360 249,092 Impairment tests for goodwill and brand the aggregate carrying amounts of goodwill and brand allocated to each unit are as follows: Group GooDWILL BrAnD 2012 nZ$’000 2011 nZ$’000 2012 nZ$’000 2011 nZ$’000 New Zealand 28,654 28,654 51,000 51,000 Australia 46,752 46,752 119,326 116,308 75,406 75,406 170,326 167,308