At 1 January 2015 (the beginning of the comparative reporting period) Onyx Ltd, an Internet service provider, owned the following intangible assets:

Description

Additional information

Internet domain name

Acquired in a separate acquisition on 1 January 2014 for Ksh 30,000,000. The estimated useful life was 8 years.

Software

Internally developed. Estimated useful lifeten years from date of development. Remaining useful lifefive years.

Customer list

Acquired in a separate acquisition on 1 January 2014 for Ksh 10,000,000. Estimated useful lifefive years from date of acquisition.

Ringtones

Internally developed. Estimated useful lifethree years from date of development.

On 30 June 2016 Onyx Ltd acquired ringtones (sometimes called jingles) developed by an independent third party for Ksh 2,000,000. The useful life of the jingles is expected to be three years from the date of acquisition.

On 30 September 2016 Onyx Ltd acquired 70 per cent of the issued share capital of Solp Ltd in a business combination when the fair value of Solp's Ltd's identifiable intangible assets were:

Description

Ksh

Additional information

Internet domain name

50,000,000

Estimated useful life is 10 years.

Software

60,000,000

Internally developed. Estimated remaining useful life = 10 years.

Customer list

40,000,000

Internally generated. Estimated remaining useful life = five years

Advertising contracts

50,000,000

Five-year contracts (all contracts started on 1 October 2015) for customers' advertisements to appear in a designated space on Solp Ltd's website.

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In-process research and development

8,000,000

Various current research and development projects to

enhance the value of the services offered by the entity.

In the last quarter of 2016 Solp Ltd incurred Ksh 1,000,000 on research and development. No projects were completed during the period. At 31 December 2016 Onyx Ltd confirmed its previous assessments of the group's intangible assets.

Required:

Draft an extract showing how the intangible assets could be presented and disclosed in the consolidated financial statements of Onyx Ltd Group for the year ended 31 December 2016.