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Avalon Telematics Ltd
No ratingHigh
FY2026
Fiscal 2026 write-down empties equity and multiplies the accumulated deficit
Revenue was flat while the operating result turned deeply negative, the accumulated deficit multiplied and carrying intangibles fell to the floor of the peer population in the same year. The rows describe a write-down of carrying value, not a collapse in trading.
Indicators: Intangible AssetsRetained Earnings
Reads Intangible Assets · Retained EarningsIndicator analysisCost capitalisation policyconfidence high
High
FY2026
North America carrying value survives only on assumptions management concedes could move
The closing filing states that the unit carrying the acquired goodwill has limited headroom and that a one-point change in the discount rate would take the recoverable amount below the carrying amount.
“The recoverable amount of the North America unit exceeds its carrying amount by a limited margin, and a reasonably possible change of one percentage point in the discount rate would reduce the recoverable amount below the carrying amount.”
Line items: Intangible AssetsChange in Goodwill
Document reviewCost capitalisation policyconfidence high
High
FY2024, FY2025
Acquired goodwill carried in the wrong currency since 2022, prior periods restated
The group identified an error under which goodwill and other acquired intangibles from the acquisition had been recorded in the parent's currency rather than each unit's functional currency, and restated every affected prior-period line item.
“During the year the group identified an error under which goodwill and other acquired intangible assets arising on the acquisition of the North America business had been recorded in the parent's currency rather than in the functional currency of each unit, in the financial statements since 2022.”
Indicators: Change in Goodwill
Restatement comparisonRestatementconfidence high
High
FY2025
Auditor warns headroom may sit below management's calculation
The prior year's audit report names impairment testing a key audit matter and states that the headroom may be lower than the amount management calculated. The charge followed in the next year.
“The headroom in the impairment assessment of the North America unit may be lower than the amount management has calculated”
Line items: Intangible Assets
Document reviewCost capitalisation policyconfidence moderate
Showing 4 of 12 · a finding rests on figures this study published, a quoted passage, or bothTypologies: Cost capitalisation policy · Provision or reserve judgement · Cash flow classification · Company-defined measure · Going-concern statement · Governance · Restatement