Financial Statements

Notes to the Consolidated Financial Statementsfor the year to 31 December 2008

11.Goodwill

£m
Cost and carrying amount  
At 1 January 2007 363.1
Acquisition of George Wimpey 336.8
Changes in exchange rates (0.1)
At 31 December 2007 699.8
Impairment loss recognised in the year (699.8)
At 31 December 2008

As a result of the 2008 impairment test, the Group has fully impaired all goodwill associated with both the Housing United Kingdom business segment (2007 carrying value: £694.3m), and the Housing North America business segment (2007 carrying value: £5.5m) see note 13 for further details.