11. Intangible assets
| Computer software €'000 |
Total €'000 |
|
|---|---|---|
| Cost: | ||
| Balance at 1 January 2016 | - | - |
| Additions at cost | 1,242 | 1,242 |
| Disposals | - | - |
| Balance at 31 December 2016 | 1,242 | 1,242 |
Accumulated Amortisation: |
||
| Balance at 1 January 2016 | - | - |
| Amortisation for the year | 64 | 64 |
| Disposals | - | - |
| Balance at 31 December 2016 | 64 | 64 |
| Net Book Value at 31 December 2016 | 1,178 | 1,178 |
| Net Book Value at 31 December 2015 | - | - |
Software costs were previously charged to the Statement of Income and Expenditure and Other Comprehensive Income in the year in which they were incurred. In the current period third party system development software assets are measured at cost less accumulated amortisation and any accumulated impairment losses (note 4.6).
The estimated useful life of intangible assets by reference to which amortisation is calculated is as follows:
Computer software
5 years