Company: KARO
Filing Date: 2025-06-09
Form Type: 20-F
Source: 0001213900-25-052372
Chunk: 208

Company: Karooooo Ltd.
Filing Date: 2025-06-09
Form: 20-F
Item: Item 19
Chunk 208
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100  
  Total                             235,809       110,365        41,450      130,511        215,539        1,032,250      2,032,794  

   1      Certain freehold land and building of the Group with a carrying amount of ZAR 429.2 million (February                                   
          29, 2024: ZAR 376.9 million) were mortgaged to a bank as security for mortgaged loan (Note 15). The freehold land and building are for  
          the new South African central office located at Rosebank, Johannesburg.                                                                 
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────

The construction
of South African central office was completed and transferred to land and property during the year ended February 2025.

6.
CAPITALIZED COMMISSION ASSETS

                                 As of February 28/29                                          
  Figures in Rand thousands                      2025                     2024                 
 ───────────────────────────────────────────────────────────────────────────────────────────────
  Cost                                                       905,380                  702,540  
  Accumulated amortization                                 ( 411,328                ( 328,019  
                                                             494,052                  374,521  

Reconciliation of the carrying
value of capitalized sales commissions

  Figures in Rand thousands                               
 ──────────────────────────────────────────────────────────
  Beginning balance                374,521       287,054  
  Additions                        223,448       163,716  
  Amortization                   ( 100,223      ( 83,155  
  Translation adjustments          ( 3,694         6,906  
  Ending balance                   494,052       374,521  

The Group capitalizes sales commission costs
arising from activated subscription contracts.

F-28

7.
INTANGIBLE ASSETS

  Figures in Rand thousands                                                                      
  At February 28, 2025                                                                           
 ─────────────────────────────────────────────────────────────────────────────────────────────────
  Cost                             246,750        43,128        782        8,695        299,355  
  Accumulated amortization       ( 173,786      ( 33,809      ( 782      ( 7,925      ( 216,302  
  Carrying value                    72,964         9,319          -