Willie Wonker, a famous sweet maker, is in a sticky situation; he knows all there is to know about making delightful confectionaries but very little (nothing in fact) about IFRS. Willie is in a quite a state as he wants to comply with IFRS but is struggling with working out if his assets are impaired. Having just consumed his fourth Seriously Smart Sugar Sherbet he had a bright idea and decided to call in an IFRS expert. Willie Wonker owns the following non-current assets: Jelly Bean Machine; Seriously Smart Sugar Sherbet Machine; Brain Boosting Bar Recipe; and Wonker Bar Chocolate Machine. Jelly Bean Machine: This machine was purchased many years ago (so many that Willie cannot remember ever actually buying it) and has been happily producing delicious beans since that date. At the end of the previous financial year, the accountant, Violet, who subsequently left due to an incident with a bubble-gum machine, decided that the Jelly Bean Machine was so old it had to be impaired. However, despite the recent rapid advancement in technology, upon performing a detailed IFRS-compliant assessment at the end of the prior year, she determined that its recoverable amount, being