date submitted: (issuer's full name)

Size: px
Start display at page:

Download "date submitted: 2006-09-13 (issuer's full name)"

Transcription

1 Elbudowa PSr THE SECURITIES AND EXCHANGE COMMISSION Consolided Bi-Annual Report PSr 2006 (Pursuant to 86 item 2 and 87 item 1 of the Regulion of the Minister of Finance of 19 October Journal of Laws No 209 item 1744) for issuers of securities with the business profile of production, construction, trade or service for six months of the financial year 2006 period from to including the condensed consolided financial stements according to IFRS currency PLN (Polish zloty) and the condensed financial stements according to IFRS currency PLN (Polish zloty) de submitted: year Elektrobudowa Spółka Akcyjna Elbudowa (issuer s abridged name) (issuer's full name) service construction (business sector acc. To the WSE classificion) Kowice (postal code) (place) Porcelanowa 12 (street) (32) (32) (telephone) (fax) ( ) (www) (Tax Identificion Number NIP) PricewerhouseCoopers (auditing company) SELECTED FINANCIAL DATA in thousands of PLN (REGON) (number) in thousands of EURO H1 / 2006 H1 / 2005 H1 / 2006 H1 / 2005 da referring to the condensed consolided financial stements I. Revenues II. Opering profit (loss) III. Gross profit IV. Net profit V. Net profit tributable to the Company shareholders VI. Net profit tributable to minority holders VII. Cash flows from opering activities VIII. Cash flows from investing activities IX. Cash flows from financing activities X. Net increase/decrease in cash XI. Total assets XII. Liabilities

2 XIII. Non-current liabilities XIV. Current liabilities XV. Equity XVI. Equity tributable to Company shareholders XVII. Share capital XVIII. Minority interest XIX. Number of shares (pcs) XX. Book value per share (in PLN / EUR) 17,70 15,98 4,38 3,96 Da referring to the condensed financial stements XXI. Revenues XXII. Opering profit XXIII. Gross profit XXIV. Net profit XXV. Cash flows from opering activities XXVI. Cash flows from investing activities XXVII. Cash flows from financing activities XXVIII. Net increase/decrease in cash XXIX. Total assets XXX. Liabilities XXI. Non-current liabilities XXII. Current liabilities XXIII. Equity XXXIV. Share capital XXXV. Number of shares (pcs) XXXVI. Book value per share (in PLN / EUR) 16,96 15,57 4,19 3,85 Pursuant to binding regulions the Report must be submitted to the Polish Securities and Exchange Commission, the Warsaw Stock Exchange and the informion agency 2

3 PricewerhouseCoopers Sp. z o.o. Oddział w Kowicach ul. Sowińskiego Kowice Polska Telefon +48 (32) Faks +48 (32) TRANSLATORS EXPLANATORY NOTE The following document is a free translion of the registered auditor s report of the below-mentioned Polish Company. In Poland stutory accounts must be prepared and presented in accordance with Polish legislion and in accordance with the accounting principles and practices generally used in Poland. The accompanying transled report has not been reclassified or adjusted in any way to conform to accounting principles generally accepted in countries other than in Poland, but certain terminology current in Anglo-Saxon countries has been adopted to the extent practicable. In the event of any discrepancy in interpreting the terminology, the Polish language version is binding. Independent Registered Auditor s Report on the review of the bi-annual consolided financial stements for the period 1 January June 2006 To the Shareholders and the Supervisory Board of Elektrobudowa S.A. We have reviewed the tached bi-annual consolided financial stements of the Elektrobudowa S.A. Group (hereinafter referred to as the Group) in which the parent company is Elektrobudowa S.A. (hereinafter referred to as the Company), Porcelanowa 12, Kowice, which comprise: (a) the consolided balance sheet as 30 June 2006, showing total assets and total liabilities and equity of PLN 187,915 thousand; (b) the consolided income stement for the period from 1 January to 30 June 2006, showing a net profit of PLN 4,490 thousand; (c) the stement of changes in consolided equity for the period from 1 January to 30 June 2006, showing a decrease in equity of PLN 1,321 thousand; (d) the consolided cash flow stement for the period from 1 January to 30 June 2006, showing net inflows of PLN 7,145 thousand; (e) notes to the financial stements comprising informion on the accounting policies adopted and additional notes and explanions. The Company s Management Board is responsible for preparing the bi-annual consolided financial stements in accordance with Internional Financial Reporting Standards as adopted by the European Union reled to interim financial reporting (IAS 34). Our responsibility was to present a report on these bi-annual consolided financial stements based on our review.

4 Independent Registered Auditor s Report on the review of the bi-annual consolided financial stements for the period 1 January June 2006 To the Shareholders and the Supervisory Board of Elektrobudowa S.A. (cont d) We have performed our review in accordance with the auditing standards issued by the Nional Council of Registered Auditors, applicable in the Republic of Poland. Under these standards, we are obliged to plan and perform the review to obtain reasonable assurance th the bi-annual consolided financial stements are free of merial irregularities. We have performed our review on the basis of an analysis of the above-mentioned bi-annual consolided financial stements, a review of the books of account and the informion obtained from the Company s Management Board and employees of the Group. The scope of work performed was significantly less than the scope of an audit, because our review was not aimed expressing an opinion on the truth and fairness of the bi-annual consolided financial stements. This report does not constitute an audit opinion on the consolided financial stements within the meaning of the Accounting Act of 29 September 1994 (Journal of Laws of 2002 No. 76, item 694 with subsequent amendments). Our review has not revealed a need to make any significant changes to the tached bi-annual consolided financial stements to ensure th they give a true, fair and clear view of the Group s financial standing as 30 June 2006 and of the results of its operions for the period from 1 January to 30 June 2006 in accordance with the Internional Accounting Standard 34 Interim Financial Reporting On behalf of PricewerhouseCoopers Sp. z o.o. and the person conducting the review: Tomasz Reinfuss Member of the Management Board Registered Auditor Registered Audit Company No /7274 No. 144 Kowice, 13 September

5 ELEKTROBUDOWA SA GROUP The Interim Consolided Financial Stements period from 1 January 2006 to 30 June

6 The interim consolided financial stements for period from 1 January 2006 to 30 June 2006 Index to the consolided financial stements CONSOLIDATED BALANCE SHEET... 5 CONSOLIDATED INCOME STATEMENT... 6 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY... 7 CONSOLIDATED CASH FLOW STATEMENT General informion Composition of the Group and its principal activity Going concern concept Summary of significant accounting policies Stement of compliance with legislion Basis of preparion Consolidion Foreign currency translion Property, plant and equipment Intangible assets Impairment of assets Investments Leasing Inventories Construction contracts Trade receivables Cash and cash equivalents Fixed assets held for trading and discontinued operions Share and reserve capital Loans and borrowings Income taxes Employee benefits Provisions Trade and other liabilities Revenue recognition Method of establishing the financial result Financial risk management Segment reporting New accounting standards and interpretions Operions discontinued in the reporting period or to be discontinued in the next period Changes in presention of the consolided financial stements Segment informion Property, plant and equipment Intangible assets Joint ventures

7 The interim consolided financial stements for period from 1 January 2006 to 30 June Available-for-sale financial assets Deriviive financial instruments Trade and other receivables Trade and other receivables recognised in non-current assets Trade and other receivables recognised in current asssets Non-current prepayments Inventories Cash and cash equivalents Short-term prepayments Share capital Reserve capital Net profit tributable to Elektrobudowa SA equity holders Trade and other payables Non-current payables Trade and other payables Loans and borrowings Deferred income tax Deferred income tax assets Provision for deferred income tax Provisions for liabilities and other charges Accrued expenses Sales revenues Construction contracts Amounts due from customers for construction contract work Amounts due to customers for contract work Expenses by nure Other gains (losses) net Finance income (expenses) net Income tax Earnings per share Dividend per share Cash flow stement The Management Board and the Supervisory Board Polish zloty exchange res Reled party transactions

8 The interim consolided financial stements for period from 1 January 2006 to 30 June Investments Contingencies Events after the balance sheet de Employees Changes in the applied accounting standards Essential estimes and assumptions Additional notes

9 The interim consolided financial stements for period from 1 January 2006 to 30 June 2006 (all amounts in thousands of Polish zloty unless otherwise sted) Consolided balance sheet as Note 30 June December 2005 * 30 June 2005 * ASSETS Fixed assets Property, plant and equipment Intangible assets Available-for-sale financial assets Trade and other receivables Deferred income tax assets Non-current prepayments and accrued income Current asssets Inventories Trade and other receivables Derivive financial instruments Current prepayments and accrued income Amount due from construction contracts Cash and cash equivalents Total assets EQUITY AND LIABILITIES Equity Share capital Reserve capital Foreign currency translion of subsidiaries 6 (82) (44) Prior years' profit (loss) (17 299) (22 215) (22 352) Net profit (loss) Total equity tributable to the Company's equity holders Minority interest Liabilities Non-current liabilities Deferred income tax liabilities Employee benefit obligions Trade and other payables Current liabilities Trade and other liabilities Corpore income tax obligions Loans, borrowings and debt securities Provisions Accrued expenses Amounts due to construction contracts customers Total liabilities Total equity and liabilities *rested da The notes on pages 10 to 85 are an integral part of these consolided financial stements. 5

10 The interim consolided financial stements for period from 1 January 2006 to 30 June 2006 (all amounts in thousands of Polish zloty unless otherwise sted) Consolided income stement six months ended 30 June Note * Revenues Cost of products, goods and merials sold 25 ( ) ( ) Gross profit on sales Selling costs (982) (326) Administrive expenses (3 723) (4 058) Other gains (losses) - net (1 362) Opering profit Finance cost - net 27 (42) (2) Profit before tax Income tax expense 28 (1 622) (1 518) Profit for the period of which: Equity holders of the Company Minority interest Earnings per share for profit tributable to the equity holders of the Company during the year (expressed in PLN per share) - basic 29 0,99 0,40 - diluted 29 0,96 0,39 * rested da The notes on pages 10 to 85 are an integral part of these consolided financial stements. 6

11 The interim consolided financial stements for period from 1 January 2006 to 30 June 2006 (all amounts in thousands of Polish zloty unless otherwise sted) Consolided stement of changes in equity Share capital Reserve capital from share premium Attributable to equity holders of the Company Other reserve capital Prior years' profit (loss) Net profit Foreign currency translion differences of subsidiaries Attributable to minority interest Total equity 1 January (12 935) 0 (82) currency translion differences net proft for the period Total recognised income for H profit distribution (2 820) coverage of prior years' loss 0 0 (4 441) dividend payment (5 957) (5 957) dividend servicing (28) (28) 30 June (17 299) Share capital Reserve capital from share premium Attributable to equity holders of the Company Other reserve capital Prior years' profit (loss) Net profit Foreign currency translion differences of subsidiaries Attributable to minority interest Total equity 1 January (17 126) 0 (110) currency translion differences net proft for the period Total recognised income for profit distribution (1 112) dividend payment (3 971) (3 971) dividend servicing (6) (6) 31 December (22 215) (82) The notes on pages 10 to 85 are an integral part of these consolided financial stements. 7

12 The interim consolided financial stements for period from 1 January 2006 to 30 June 2006 (all amounts in thousands of Polish zloty unless otherwise sted) Share capital Reserve capital from share premium Attributable to equity holders of the Company Other reserve capital Prior years' profit (loss) Net profit Foreign currency translion differences of subsidiaries Attributable to minority interest Total equity 1 January (17 126) 0 (110) currency translion differences net proft for the period Total recognised income for H profit distribution (1 226) dividend payment (3 971) (3 971) dividend servicing (29) (29) 30 June (22 352) (44) The notes on pages 10 to 85 are an integral part of these consolided financial stements. 8

13 The interim consolided financial stements for period from 1 January 2006 to 30 June 2006 (all amounts in thousands of Polish zloty unless otherwise sted) Consolided cash flow stement six months ended 30 June Note * Cash flows from opering activities Net profit Amortision Interest and share in profit (dividends) Gains (loss) from investing activities (74) (288) Change due to deferred income tax Change in inventories (16 119) (5 166) Change in trade and other receivables Change in liabilities, except loans and borrowings (12 671) Income tax paid (1 361) (1 525) Change in current accruals (1 856) 32 Change in non-current accruals 3 3 Change in settlements of construction contracts (3 963) (9 049) Other adjustments 31 (699) (81) Net cash (used in) / genered from opering activities (7 740) Cash flows from investing activities Disposal of intangible assets and property, plant & equipment Purchase of intangible assets and property, plant & equipment (3 545) (3 225) Net cash fused in investing activities (3 211) (2 637) Cash flows from financial activities Loans and borrowings Redemption of debt securities (1 986) 0 Payment of financial lease commitments (28) (21) Interest (398) (1 022) Net cash genered from financial activities Net decrease /increase in cash (2 395) Cash beginning of period Cash end of period * rested da The notes on pages 10 to 85 are an integral part of these consolided financial stements. 9

14 The interim consolided financial stements for period from 1 January 2006 to 30 June 2006 (all amounts in thousands of Polish zloty unless otherwise sted) Notes to the consolided financial stements 1. General informion 1.1. Composition of the Group and its principal activity The ELEKTROBUDOWA SA Group is composed of three entities: The Parent - Elektrobudowa SA with its registered office in Kowice, ul. Porcelanowa 12, Kowice. Elektrobudowa SA is a joint stock company established and acting according to the Polish law. The joint stock company was creed through transformion of the ste-owned company named Przedsiębiorstwo Montażu Elektrycznego Elektrobudowa based in Kowice. The transformion act was made on 9 January 1992 in the form of a notary deed (Repertory No. 225/95) by the Notary Office no.18 in Warsaw run by the notary public Paweł Błaszczak. The Company was entered in Division B under number 7682 to the Commercial Register of the District Court, X Register Department Kowice, on the basis of valid decision by this Court issued on 3 February 1992 (Ref. number RHB 7682 VII of the Central Commercial Register 248/92). At present the court of registrion for the Company is the District Court in Kowice, Business Department of the Nional Court Register, with the reference number KRS Principal activity of the Company according to the Polish Classificion of Activities (PKD 4531 A) is executing of electrical installions in building and structures. A sector according to the Warsaw Stock Exchange classificion: building. Shares of the Parent are quoted on the Warsaw Stock Exchange. The business activity of Elektrobudowa SA includes: comprehensive electrical installion works as provided in all newly built, extended and modernized power stions and industrial facilities, supply of electric power equipment, mainly the energy transmission and distribution equipment, designing, engineering, testing and commissioning services. A subsidiary - KRUELTA Sp. z o. o. (Ltd.) with its registered office 17a, Magnitogorska Street in Sankt Petersburg. Elektrobudowa SA holds 51% interest in KRUELTA Sp. z o.o., which represents 51% of KRUELTA equity. According to the company Articles certain resolutions of the Annual General Meeting has to be adopted unanimously, and passing others requires not less than 2/3 of the total number of votes. The requirement has been introduced to secure Elektrobudowa SA against decisions unfavourable for them, which otherwise might be taken by the Russian partner, Tavrida. The notes on pages 10 to 85 are an integral part of these consolided financial stements. 10

15 The interim consolided financial stements for period from 1 January 2006 to 30 June 2006 (all amounts in thousands of Polish zloty unless otherwise sted) Notes to the consolided financial stements (continued) ELEKTROBUDOWA SA controls opering and financial policy of Kruelta, as: - Chairman of the Supervisory Board is elected from candides indiced by Elektrobudowa SA, - the Supervisory Board of Kruelta consists of two representives of Elektrobudowa and two representives of Tavrida, - in the case of an equal number of votes, the chairman of the Supervisory Board has the casting vote. In the opinion of the Management Board of Elektrobudowa SA the conditions presented above are decisive for consolidion of Elektrobudowa SA and Kruelta by the full method. Principal business of KRUELTA is the assembly and sales of medium voltage switchgears in the Russian market. This offer is to be completed with the sale of low voltage switchgears and mobile containerized substions. A subsidiary - KONIP Sp. z o.o. (Ltd) with its registered office in Kowice, 12, Porcelanowa St., Kowice. Elektrobudowa SA holds 100% interest in the equity of KONIP Sp. z o.o. KONIP Sp. z o.o. administers the real property owned by Elektrobudowa S.A. or in perpetual usufruct by the Parent. The scope of their business particularly includes maintenance and administrion of building and structures, renting the useful areas, fire protection services, cleaning the rooms and area as well as industrial protection, providing telecommunicion services, maintaining the Parent s archives and the reception service. 1.2 Going concern concept The entities in the Group will continue in operional existence for the unspecified time. The consolided financial stements have been prepared with the assumption of continuion of business operions in the foreseeable future by the entities of the Group and th there are no circumstances indicing th the continuion of operions by the entities of the Group is risk. Among the estimes done as the balance sheet de there are no such estimes which could imply a significant risk of involving merial corrections of balance sheet values of assets and liabilities during the next financial year. If, after preparion of the annual financial stements an entity of the Group is informed about events which have substantial effect on this report, or which make the assumption of business continuion by the entity unjustified, the Management Board of Elektrobudowa SA will be entitled to introduce adjustments to the financial stements up to the moment of their approval. This does not rule out the possibility of introducing retrospective changes to the financial stements reled to adjustment of errors, or changes in accounting policies as per IAS 8 in the ler periods. In the opinion of the Management Board of Elektrobudowa SA there are no circumstances posing a thre to the continuity of business operions. The notes on pages 10 to 85 are an integral part of these consolided financial stements. 11

16 The interim consolided financial stements for period from 1 January 2006 to 30 June 2006 (all amounts in thousands of Polish zloty unless otherwise sted) Notes to the consolided financial stements (continued) 2. Summary of significant accounting policies 2.1 Stement of compliance with legislion The report of Elektrobudowa SA Group for the H1 ended 30 June 2006 has been prepared in conformity with the Regulion of the Minister of Finance of 19 October 2005 on current and periodical informion provided by issuers of securities Basis of preparion These consolided financial stements of the Group has been prepared in accordance with the Internional Financial Reporting Standards (IFRS) on interim reporting (IAS 34). The present financial stements have been prepared under the historical cost convention, with the exception of revaluion of derivive instruments shown fair value. Some key accounting estimes are necessary for preparing the stements in compliance with IFRS. The Management Board has to take a number of subjective decisions concerning the applicion of the Group accounting policies. More compliced areas, areas which require a subjective judgment or areas in which the assumptions and appraisals are significant for the financial stements as a whole, have been described in additional comments to the financial stements (Notes: 9, 11.2, 15, 21, 24). 2.3 Consolidion Subsidiaries Subsidiaries are all entities (including special purpose entities) over which the Group has the power to govern the financial and opering policies generally accompanying a shareholding of more than one half of thee voting rights in the company governing bodies. The existence and effect of potential voting rights th are currently exercisable or convertible are considered when assessing whether the Group controls another entity. Subsidiaries are fully consolided from the de on which control is transferred to the Group. They are deconsolided from the de on which control ceases. In the Group there are no entities excluded from consolidion. The purchase method of accounting is used to account for the investment in subsidiaries in separe financial stements. Separe financial stements of the reled parties subject to consolidion have been prepared in accordance with the unified accounting standards. The notes on pages 10 to 85 are an integral part of these consolided financial stements. 12

17 The interim consolided financial stements for period from 1 January 2006 to 30 June 2006 (all amounts in thousands of Polish zloty unless otherwise sted) Notes to the consolided financial stements (continued) Inter-company transactions, balances and unrealized gains on transactions between Group companies are elimined. Unrealised losses are also elimined unless the transaction provides evidence of an impairment of the asset transferred. The parent s and other consolided entities share of the subsidiaries, with th portion of net assets of subsidiaries, measured their fair value, which reflects the parent s and other consolided entities share in the reled parties, the de of taking control by the Group, is elimined. 2.4 Foreign currency translion a) Functional and presention currency Items included in the financial stements of each of the Group s entities are measured using the currency of the primary economic environment in which the entity operes (the functional currency ). The consolided financial stements are presented in thousands of Polish zlotys. Polish zloty (PLN) is the functional and presention currency both of ELEKTROBUDOWA SA and the Elektrobudowa SA Group. b) Transactions and balances Foreign currency transactions are transled into the functional currency using the exchange re prevailing the des of the transactions as follows: - disposal of foreign currency and repayment of receivables transactions are transled the buying re applied by the bank used by the Group: - purchase of foreign currency and repayment of payables transactions are transled the selling re applied by the bank used by the Group: - other transactions are transled average exchange re for each currency announced by the Nional Bank of Poland, unless customs documents quote another exchange re; - assets and liabilities the balance sheet de are transled the average Exchange re for each currency announced by the Nional Bank of Poland. Gains and losses from such transactions and from the translion the year-end of monetary assets and liabilities denomined in foreign currencies are recognized in the income stement, except where hedge accounting is applied. c) Translion of balance sheet items and income stement items The results and financial position of all Group entities (none of which has the currency of a hyperinflionary economy) th have a functional currency different from the presention currency are transled into the presention currency as follows: The notes on pages 10 to 85 are an integral part of these consolided financial stements. 13

18 The interim consolided financial stements for period from 1 January 2006 to 30 June 2006 (all amounts in thousands of Polish zloty unless otherwise sted) Notes to the consolided financial stements (continued) assets and liabilities in each presented balance sheet are transled the closing re the de of th balance sheet; income and expenses for each income stement are transled average exchange re for each currency, which is the arithmetic mean of average res on the last day of each month of the reporting period, unless this average is not a reasonable approximion of the cumulive effect of the res prevailing on the transaction des, in which case income and expenses are transled the des of the transactions; all resulting exchange differences are recognized as a separe component of equity. 2.5 Property, plant and equipment All property, plant and equipment is show cost less subsequent depreciion and impairment). Depreciion on assets is calculed using the straight-line method according to res which reflect their estimed useful life. Periods of economic usability of the assets are as follows: Applied depreciion res: Buildings Plant and machinery Vehicles Other years 3-15 years 5-7 years 4-10 years Subsequent expenses are recognised in the carrying amount of each item or included as a separe asset (as approprie), only when it is probable th the Company will gain future economic benefits associed with the item and the cost of the item can be measured reliably. All other repairs and maintenance are charged to the income stement during the financial period in which they are incurred. At each balance sheet de the value of each item is reviewed in order to estime if it is not greer than its recoverable amount (if it is greer, the asset s carrying amount is written down to its recoverable amount. The review also covers the adopted depreciion method and establishing whether the depreciion period is adeque for the estimed distribution in time of economic benefits from the asset. Property, plant and equipment under construction are measured according to costs incurred. The notes on pages 10 to 85 are an integral part of these consolided financial stements. 14

THE ELEKTROBUDOWA SA GROUP. Interim consolidated condensed financial statements

THE ELEKTROBUDOWA SA GROUP. Interim consolidated condensed financial statements Interim consolidated condensed financial statements for the six months ended 30 June 2014 Index to the consolidated financial statements CONSOLIDATED STATEMENT OF FINANCIAL POSITION... 5 CONSOLIDATED STATEMENT

More information

Summary of Significant Accounting Policies FOR THE FINANCIAL YEAR ENDED 31 MARCH 2014

Summary of Significant Accounting Policies FOR THE FINANCIAL YEAR ENDED 31 MARCH 2014 46 Unless otherwise stated, the following accounting policies have been applied consistently in dealing with items which are considered material in relation to the financial statements. The Company and

More information

G8 Education Limited ABN: 95 123 828 553. Accounting Policies

G8 Education Limited ABN: 95 123 828 553. Accounting Policies G8 Education Limited ABN: 95 123 828 553 Accounting Policies Table of Contents Note 1: Summary of significant accounting policies... 3 (a) Basis of preparation... 3 (b) Principles of consolidation... 3

More information

Principal Accounting Policies

Principal Accounting Policies 1. Basis of Preparation The accounts have been prepared in accordance with Hong Kong Financial Reporting Standards ( HKFRS ). The accounts have been prepared under the historical cost convention as modified

More information

In addition, Outokumpu has adopted the following amended standards as of January 1, 2009:

In addition, Outokumpu has adopted the following amended standards as of January 1, 2009: 1. Corporate information Outokumpu Oyj is a Finnish public limited liability company organised under the laws of Finland and domiciled in Espoo. The parent company, Outokumpu Oyj, has been listed on the

More information

Consolidated financial statements

Consolidated financial statements Summary of significant accounting policies Basis of preparation DSM s consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted

More information

Transition to International Financial Reporting Standards

Transition to International Financial Reporting Standards Transition to International Financial Reporting Standards Topps Tiles Plc In accordance with IFRS 1, First-time adoption of International Financial Reporting Standards ( IFRS ), Topps Tiles Plc, ( Topps

More information

Note 2 SIGNIFICANT ACCOUNTING

Note 2 SIGNIFICANT ACCOUNTING Note 2 SIGNIFICANT ACCOUNTING POLICIES BASIS FOR THE PREPARATION OF THE FINANCIAL STATEMENTS The consolidated financial statements have been prepared in accordance with International Financial Reporting

More information

Residual carrying amounts and expected useful lives are reviewed at each reporting date and adjusted if necessary.

Residual carrying amounts and expected useful lives are reviewed at each reporting date and adjusted if necessary. 87 Accounting Policies Intangible assets a) Goodwill Goodwill represents the excess of the cost of an acquisition over the fair value of identifiable net assets and liabilities of the acquired company

More information

Significant Accounting Policies

Significant Accounting Policies Apart from the accounting policies presented within the corresponding notes to the financial statements, other significant accounting policies are set out below. These policies have been consistently applied

More information

Acal plc. Accounting policies March 2006

Acal plc. Accounting policies March 2006 Acal plc Accounting policies March 2006 Basis of preparation The consolidated financial statements of Acal plc and all its subsidiaries have been prepared in accordance with International Financial Reporting

More information

EXPLANATORY NOTES. 1. Summary of accounting policies

EXPLANATORY NOTES. 1. Summary of accounting policies 1. Summary of accounting policies Reporting Entity Taranaki Regional Council is a regional local authority governed by the Local Government Act 2002. The Taranaki Regional Council group (TRC) consists

More information

SIGNIFICANT GROUP ACCOUNTING POLICIES

SIGNIFICANT GROUP ACCOUNTING POLICIES SIGNIFICANT GROUP ACCOUNTING POLICIES Basis of consolidation Subsidiaries Subsidiaries are all entities over which the Group has the sole right to exercise control over the operations and govern the financial

More information

Volex Group plc. Transition to International Financial Reporting Standards Supporting document for 2 October 2005 Interim Statement. 1.

Volex Group plc. Transition to International Financial Reporting Standards Supporting document for 2 October 2005 Interim Statement. 1. Volex Group plc Transition to International Financial Reporting Standards Supporting document for 2 October 2005 Interim Statement 1. Introduction The consolidated financial statements of Volex Group plc

More information

ACCOUNTING POLICIES. for the year ended 30 June 2014

ACCOUNTING POLICIES. for the year ended 30 June 2014 ACCOUNTING POLICIES REPORTING ENTITIES City Lodge Hotels Limited (the company) is a company domiciled in South Africa. The group financial statements of the company as at and comprise the company and its

More information

Quarterly report containing interim financial statements of the Capital Group for Q1 of the financial year 2013-2014

Quarterly report containing interim financial statements of the Capital Group for Q1 of the financial year 2013-2014 Quarterly report containing interim financial statements of the Capital Group for Q1 of the financial year 2013-2014 covering the period from 01-07-2013 to 30-09-2013 Publication date: 14 November 2013

More information

The consolidated financial statements of

The consolidated financial statements of Our 2014 financial statements The consolidated financial statements of plc and its subsidiaries (the Group) for the year ended 31 December 2014 have been prepared in accordance with International Financial

More information

Consolidated statement of total comprehensive income For the Years Ended 31 December 2013 and 2012 2013 2012 Note w 000 w 000 Revenue 4 71,514 46,007 Cost of sales 5 (31,273) (21,926) Gross profit 40,241

More information

NOTES TO THE FINANCIAL STATEMENTS

NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS 1 SIGNIFICANT ACCOUNTING POLICIES (a) Statement of compliance These financial statements have been prepared in accordance with all applicable Hong Kong Financial Reporting

More information

Summary of significant accounting policies

Summary of significant accounting policies 1 (14) Summary of significant accounting policies The principal accounting policies applied in the preparation of Neste's consolidated financial statements are set out below. These policies have been consistently

More information

ANNUAL FINANCIAL RESULTS

ANNUAL FINANCIAL RESULTS ANNUAL FINANCIAL RESULTS For the year ended 31 July 2013 ANNUAL FINANCIAL RESULTS 2013 FONTERRA CO-OPERATIVE GROUP LIMITED Contents: DIRECTORS STATEMENT... 1 INCOME STATEMENT... 2 STATEMENT OF COMPREHENSIVE

More information

MATRIX IT LTD. AND ITS SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS

MATRIX IT LTD. AND ITS SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2013 CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2013 NIS IN THOUSANDS INDEX Page Auditors' Reports 2-4 Consolidated Statements of Financial

More information

Statutory Financial Statements

Statutory Financial Statements Statutory Financial Statements for the year ended December 31, 2007 by Kardan NV, Amsterdam, the Netherlands Consolidated IFRS Financial Statements Consolidated IFRS Balance Sheet 54 Consolidated IFRS

More information

ANNUAL FINANCIAL RESULTS FOR THE YEAR ENDED 31 JULY 2014 FONTERRA ANNUAL FINANCIAL RESULTS 2014 A

ANNUAL FINANCIAL RESULTS FOR THE YEAR ENDED 31 JULY 2014 FONTERRA ANNUAL FINANCIAL RESULTS 2014 A ANNUAL FINANCIAL RESULTS FOR THE YEAR ENDED 31 JULY 2014 FONTERRA ANNUAL FINANCIAL RESULTS 2014 A CONTENTS DIRECTORS STATEMENT 1 INCOME STATEMENT 2 STATEMENT OF COMPREHENSIVE INCOME 3 STATEMENT OF FINANCIAL

More information

Preliminary Final report

Preliminary Final report Appendix 4E Rule 4.3A Preliminary Final report AMCOR LIMITED ABN 62 000 017 372 1. Details of the reporting period and the previous corresponding period Reporting Period: Year Ended Previous Corresponding

More information

Consolidated Extended Financial Statements of Echo Investment Capital Group for the 1st half of 2009

Consolidated Extended Financial Statements of Echo Investment Capital Group for the 1st half of 2009 SEMI-ANNUAL REPORT 2009 Consolidated Extended Financial Statements of Echo Investment Capital Group for the 1st half of 2009 August 31, 2009 Semi-annual Report for the 1st half of 2009 1 I. Consolidated

More information

Pro-forma Consolidated Financial Statements 31 December 2006

Pro-forma Consolidated Financial Statements 31 December 2006 Pro-forma Consolidated Financial Statements 31 December 2006 These pro-forma consolidated financial statements contain 45 pages Contents Pro-forma Consolidated Balance Sheet 2 Pro-forma Consolidated Income

More information

SHIRE OF CARNARVON POLICY

SHIRE OF CARNARVON POLICY SHIRE OF CARNARVON POLICY POLICY NO C010 POLICY SIGNIFICANT ACCOUNTING POLICIES RESPONSIBLE DIRECTORATE CORPORATE COUNCIL ADOPTION Date: 27.5.14 Resolution No. FC 5/5/14 REVIEWED/MODIFIED Date: Resolution

More information

TCS Financial Solutions Australia (Holdings) Pty Limited. ABN 61 003 653 549 Financial Statements for the year ended 31 March 2015

TCS Financial Solutions Australia (Holdings) Pty Limited. ABN 61 003 653 549 Financial Statements for the year ended 31 March 2015 TCS Financial Solutions Australia (Holdings) Pty Limited ABN 61 003 653 549 Financial Statements for the year ended 31 March 2015 Contents Page Directors' report 3 Statement of profit or loss and other

More information

accounting policies for the year ended 31 march 2009

accounting policies for the year ended 31 march 2009 The annual financial statements are prepared on the historical cost basis, unless otherwise indicated, in accordance with International Financial Reporting Standards (IFRS), the requirements of the Companies

More information

136 ST ENGINEERING / ABOVE & BEYOND

136 ST ENGINEERING / ABOVE & BEYOND 136 ST ENGINEERING / ABOVE & BEYOND Independent auditors report Members of the Company Singapore Technologies Engineering Ltd Report on the financial STATEMENTS We have audited the accompanying financial

More information

PGE Polska Grupa Energetyczna S.A. Separate Financial Statements for the year 2014

PGE Polska Grupa Energetyczna S.A. Separate Financial Statements for the year 2014 PGE Polska Grupa Energetyczna S.A. Separate Financial Statements for the year 2014 ended in accordance with IFRS EU (in PLN million) zakończony dnia 31 marca 2014 roku zgodne z MSSF (w tysiącach złotych)

More information

Financials. Ahold Annual Report 2014 63. Financials

Financials. Ahold Annual Report 2014 63. Financials at a glance Financials Annual Report 2014 63 Financials Financial statements 64 Consolidated income statement 65 Consolidated statement of comprehensive income 66 Consolidated balance sheet 67 Consolidated

More information

VASSETI (UK) PLC CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 JUNE 2013

VASSETI (UK) PLC CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 JUNE 2013 CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 JUNE 2013 INTERIM MANAGEMENT REPORT (UNAUDITED) FOR THE 6 MONTHS ENDED 30 JUNE 2013 1. Key Risks and uncertainties Risks and uncertainties

More information

Consolidated Financial Statements Notes to the Consolidated Financial Statements for Fiscal Year 2014

Consolidated Financial Statements Notes to the Consolidated Financial Statements for Fiscal Year 2014 171 The most important exchange rates applied in the consolidated financial statements developed as follows in relation to the euro: Currency Average rate Closing rate Country 1 EUR = 2014 2013 2014 2013

More information

Abbey plc ( Abbey or the Company ) Interim Statement for the six months ended 31 October 2007

Abbey plc ( Abbey or the Company ) Interim Statement for the six months ended 31 October 2007 Abbey plc ( Abbey or the Company ) Interim Statement for the six months ended 31 October 2007 The Board of Abbey plc reports a profit before taxation of 18.20m which compares with a profit of 22.57m for

More information

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 1 GENERAL INFORMATION COSCO Pacific Limited (the Company ) and its subsidiaries (collectively the Group ) are principally engaged in the businesses of managing and operating container terminals, container

More information

Consolidated financial statements

Consolidated financial statements Rexam Annual Report 83 Consolidated financial statements Consolidated financial statements: Independent auditors report to the members of Rexam PLC 84 Consolidated income statement 87 Consolidated statement

More information

ANNUAL FINANCIAL RESULTS

ANNUAL FINANCIAL RESULTS ANNUAL FINANCIAL RESULTS Directors Statement The directors of Air New Zealand Limited are pleased to present to shareholders the Annual Report* and financial statements for Air New Zealand and its controlled

More information

CONSOLIDATED FINANCIAL STATEMENT

CONSOLIDATED FINANCIAL STATEMENT CONSOLIDATED FINANCIAL STATEMENT FOR THE BUSINESS YEAR ENDING ON MARCH 31ST, 2015 DRAWN UP IN ACCORDANCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARDS Group LIVECHAT SOFTWARE SA Wrocław, June 16th,

More information

The following report presents financial data only. The full and binding version is available in Polish. K2 INTERNET S.A.

The following report presents financial data only. The full and binding version is available in Polish. K2 INTERNET S.A. The following report presents financial data only. The full and binding version is available in Polish. K2 INTERNET S.A. Annual Financial Statement of K2 Internet S.A. for the twelve-month period ended

More information

Brussels, March 2014 Summary of significant accounting policies

Brussels, March 2014 Summary of significant accounting policies Brussels, March 2014 Summary of significant accounting policies Tessenderlo Chemie NV (hereafter referred to as the "company"), the parent company, is domiciled in Belgium. The consolidated financial statements

More information

NOTES TO THE ANNUAL FINANCIAL STATEMENTSNOTE

NOTES TO THE ANNUAL FINANCIAL STATEMENTSNOTE NOTES TO THE ANNUAL FINANCIAL STATEMENTSNOTE Notes to the ANNUAL FINANCIAL STATEMENTS 19 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The principal accounting policies adopted in the preparation of these

More information

Acerinox, S.A. and Subsidiaries. Consolidated Annual Accounts 31 December 2014. Consolidated Directors' Report 2014. (With Auditors Report Thereon)

Acerinox, S.A. and Subsidiaries. Consolidated Annual Accounts 31 December 2014. Consolidated Directors' Report 2014. (With Auditors Report Thereon) Acerinox, S.A. and Subsidiaries Consolidated Annual Accounts 31 December 2014 Consolidated Directors' Report 2014 (With Auditors Report Thereon) (Free translation from the original in Spanish. In the event

More information

POLICY MANUAL. Financial Management Significant Accounting Policies (July 2015)

POLICY MANUAL. Financial Management Significant Accounting Policies (July 2015) POLICY 1. Objective To adopt Full Accrual Accounting and all other applicable Accounting Standards. 2. Local Government Reference Local Government Act 1995 Local Government (Financial Management) Regulations

More information

Financial Statements 2014

Financial Statements 2014 Financial Statements 2014 This financial statement is part of Heijmans annual report 2014. The complete English version of the annual report will be published a number of weeks after the publication of

More information

Accounting Policies. Basis of preparation of consolidated financial statements. Adoption of new and revised IFRSs from 1 January 2006

Accounting Policies. Basis of preparation of consolidated financial statements. Adoption of new and revised IFRSs from 1 January 2006 Accounting Policies Basis of preparation of consolidated financial statements The consolidated financial statements give a true and fair view of the financial position, results of operations and cash flows

More information

18 BUSINESS ACCOUNTING STANDARD FINANCIAL ASSETS AND FINANCIAL LIABILITIES I. GENERAL PROVISIONS

18 BUSINESS ACCOUNTING STANDARD FINANCIAL ASSETS AND FINANCIAL LIABILITIES I. GENERAL PROVISIONS APPROVED by Resolution No. 11 of 27 October 2004 of the Standards Board of the Public Establishment the Institute of Accounting of the Republic of Lithuania 18 BUSINESS ACCOUNTING STANDARD FINANCIAL ASSETS

More information

Roche Capital Market Ltd Financial Statements 2009

Roche Capital Market Ltd Financial Statements 2009 R Roche Capital Market Ltd Financial Statements 2009 1 Roche Capital Market Ltd, Financial Statements Reference numbers indicate corresponding Notes to the Financial Statements. Roche Capital Market Ltd,

More information

Rabobank Group. Consolidated Financial Statements 2005. prepared in accordance with International Financial Reporting Standards

Rabobank Group. Consolidated Financial Statements 2005. prepared in accordance with International Financial Reporting Standards Rabobank Group Consolidated Financial Statements 2005 prepared in accordance with International Financial Reporting Standards Rabobank Group Consolidated Financial Statements 2005 This publication, the

More information

151 Company Income Statement 152 Company Balance Sheet 154 Notes to the Company Financial Statements

151 Company Income Statement 152 Company Balance Sheet 154 Notes to the Company Financial Statements 65 Annual Report and Accounts 2014 Consolidated, Company and Food Financial Statements 2014 Page Consolidated Financial Statements, presented in euro and prepared in accordance with IFRS and the requirements

More information

The statements are presented in pounds sterling and have been prepared under IFRS using the historical cost convention.

The statements are presented in pounds sterling and have been prepared under IFRS using the historical cost convention. Note 1 to the financial information Basis of accounting ITE Group Plc is a UK listed company and together with its subsidiary operations is hereafter referred to as the Company. The Company is required

More information

Acerinox, S.A. and Subsidiaries. Consolidated Annual Accounts 31 December 2013. Consolidated Directors' Report 2013. (With Auditors Report Thereon)

Acerinox, S.A. and Subsidiaries. Consolidated Annual Accounts 31 December 2013. Consolidated Directors' Report 2013. (With Auditors Report Thereon) Acerinox, S.A. and Subsidiaries Consolidated Annual Accounts 31 December 2013 Consolidated Directors' Report 2013 (With Auditors Report Thereon) (Free translation from the original in Spanish. In the event

More information

Ahold Annual Report 2012 73 Ahold at a glance Our strategy Our performance Governance Financials Investors

Ahold Annual Report 2012 73 Ahold at a glance Our strategy Our performance Governance Financials Investors Ahold Annual Report 73 Ahold at a glance Our strategy Our performance Governance Financials Investors Consolidated income statement Consolidated statement of comprehensive income Consolidated balance sheet

More information

FOR THE YEARS ENDED 31 DECEMBER 2010 AND 2009

FOR THE YEARS ENDED 31 DECEMBER 2010 AND 2009 IFRS CONSOLIDATED FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR S REPORT FOR THE YEARS ENDED 31 DECEMBER 2010 AND 2009 CONTENTS Page Independent Auditor s Report 3 Consolidated Statement of Financial Position

More information

Notes to the consolidated financial statements

Notes to the consolidated financial statements 168 Implats 2007 Annual Report Notes to the consolidated financial statements 1 Summary of significant accounting policies The principal accounting policies applied in the preparation of these group and

More information

16 BUSINESS ACCOUNTING STANDARD CONSOLIDATED FINANCIAL STATEMENTS AND INVESTMENTS IN SUBSIDIARIES I. GENERAL PROVISIONS

16 BUSINESS ACCOUNTING STANDARD CONSOLIDATED FINANCIAL STATEMENTS AND INVESTMENTS IN SUBSIDIARIES I. GENERAL PROVISIONS APPROVED by Resolution No. 10 of 10 December 2003 of the Standards Board of the Public Establishment the Institute of Accounting of the Republic of Lithuania 16 BUSINESS ACCOUNTING STANDARD CONSOLIDATED

More information

1. Accounting policies for consolidated financial statements

1. Accounting policies for consolidated financial statements 1 1. Accounting policies for consolidated financial statements Corporate information The Sanoma Group comprises three reporting segments: Media, News and Learning. The Media segment consists of four strategic

More information

ACCOUNTING POLICY 1.1 FINANCIAL REPORTING. Policy Statement. Definitions. Area covered. This Policy is University-wide.

ACCOUNTING POLICY 1.1 FINANCIAL REPORTING. Policy Statement. Definitions. Area covered. This Policy is University-wide. POLICY Area covered ACCOUNTING POLICY This Policy is University-wide Approval date 5 May 2016 Policy Statement Intent Scope Effective date 5 May 2016 Next review date 5 May 2019 To establish decisions,

More information

Unconsolidated Financial Statements of Bank Pekao S.A. for the period ended on 31 December 2012

Unconsolidated Financial Statements of Bank Pekao S.A. for the period ended on 31 December 2012 This document is a free translation of the Polish original. Terminology current in Anglo-Saxon countries has been used where practicable for the purposes of this translation in order to aid understanding.

More information

Investments and advances... 313,669

Investments and advances... 313,669 Consolidated Financial Statements of the Company The consolidated balance sheet, statement of income, and statement of equity of the Company are as follows. Please note the Company s consolidated financial

More information

A&W Food Services of Canada Inc. Consolidated Financial Statements December 30, 2012 and January 1, 2012 (in thousands of dollars)

A&W Food Services of Canada Inc. Consolidated Financial Statements December 30, 2012 and January 1, 2012 (in thousands of dollars) A&W Food Services of Canada Inc. Consolidated Financial Statements December 30, and January 1, (in thousands of dollars) February 12, 2013 Independent Auditor s Report To the Shareholders of A&W Food Services

More information

SAMPLE MANUFACTURING COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS. Year ended December 31, 2011

SAMPLE MANUFACTURING COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS. Year ended December 31, 2011 SAMPLE MANUFACTURING COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS Year ended SAMPLE MANUFACTURING COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS For the year ended The information contained in

More information

Consolidated Balance Sheets March 31, 2001 and 2000

Consolidated Balance Sheets March 31, 2001 and 2000 Financial Statements SEIKAGAKU CORPORATION AND CONSOLIDATED SUBSIDIARIES Consolidated Balance Sheets March 31, 2001 and 2000 Assets Current assets: Cash and cash equivalents... Short-term investments (Note

More information

Independent Auditor s Report To the Shareholders and the Board of Directors of PJSC EMAlliance

Independent Auditor s Report To the Shareholders and the Board of Directors of PJSC EMAlliance PJSC EMAlliance Consolidated financial statements prepared in accordance with IFRS for the year ended 2010 together with Independent Auditor s Report Contents Independent Auditor s Report... 3 Statement

More information

Türkiye İş Bankası A.Ş. Separate Financial Statements As at and for the Year Ended 31 December 2015

Türkiye İş Bankası A.Ş. Separate Financial Statements As at and for the Year Ended 31 December 2015 Türkiye İş Bankası A.Ş. Separate Financial Statements As at and for the Year Ended 2015 29 April 2016 This report includes 93 pages of separate financial statements together with their explanatory notes.

More information

CAPITAL GROUP POLSKI HOLDING NIERUCHOMOŚCI SPÓŁKA AKCYJNA

CAPITAL GROUP POLSKI HOLDING NIERUCHOMOŚCI SPÓŁKA AKCYJNA CAPITAL GROUP POLSKI HOLDING NIERUCHOMOŚCI SPÓŁKA AKCYJNA Consolidated report for the first half of 2015 POLSKI HOLDING NIERUCHOMOŚCI S.A. Consolidated report for the first half of 2015 (All amounts are

More information

Consolidated financial statements 2011

Consolidated financial statements 2011 Consolidated financial statements 2011 Page 1 4.2 Consolidated financial statements 4.2.1 Consolidated income statement ( million) 2011 2010 Sales of goods and services 41,192 37,654 Sales financing revenues

More information

KARDAN N.V. AMSTERDAM, THE NETHERLANDS. IFRS Financial Statements. For the year ended December 31, 2007

KARDAN N.V. AMSTERDAM, THE NETHERLANDS. IFRS Financial Statements. For the year ended December 31, 2007 KARDAN N.V. AMSTERDAM, THE NETHERLANDS IFRS Financial Statements For the year ended December 31, 2007 CONTENTS Consolidated financial statements Consolidated balance sheet 1-2 Consolidated profit and loss

More information

OJSC PhosAgro. Consolidated Financial Statements for the year ended 31 December 2012

OJSC PhosAgro. Consolidated Financial Statements for the year ended 31 December 2012 Consolidated Financial Statements for the year ended 31 December 2012 Contents Auditors Report Consolidated Statement of Comprehensive Income 5 Consolidated Statement of Financial Position 6 Consolidated

More information

Samsung Life Insurance Co., Ltd. Separate Financial Statements March 31, 2013 and 2012

Samsung Life Insurance Co., Ltd. Separate Financial Statements March 31, 2013 and 2012 Separate Financial Statements Index Page(s) Report of Independent Auditors 1-2 Separate Financial Statements Statements of Financial Position 3 Statements of Comprehensive Income 4 5 Statements of Changes

More information

Fiat Group Consolidated Financial Statements

Fiat Group Consolidated Financial Statements Fiat Group 120 Income Statement 121 Statement of Comprehensive Income 122 Statement of Position 124 Statement of Cash Flows 125 Statement of Changes in Equity 126 Income Statement pursuant to Consob Resolution

More information

1. Basis of Preparation. 2. Summary of Significant Accounting Policies. Principles of consolidation. (a) Foreign currency translation.

1. Basis of Preparation. 2. Summary of Significant Accounting Policies. Principles of consolidation. (a) Foreign currency translation. Nitta Corporation and Subsidiaries Notes to Consolidated Financial Statements March 31, 1. Basis of Preparation The accompanying consolidated financial statements of Nitta Corporation (the Company ) and

More information

SAGICOR FINANCIAL CORPORATION

SAGICOR FINANCIAL CORPORATION Interim Financial Statements Nine-months ended September 30, 2015 FINANCIAL RESULTS FOR THE CHAIRMAN S REVIEW The Sagicor Group recorded net income from continuing operations of US $60.4 million for the

More information

Financial statements: contents

Financial statements: contents Section 5 Financial statements 115 Financial statements: contents Consolidated financial statements Independent auditors report to the members of Pearson plc 116 Consolidated income statement 123 Consolidated

More information

Banking Department Income Statement for the year to 28 February 2011

Banking Department Income Statement for the year to 28 February 2011 48 Bank of England Annual Report 2011 Banking Department Income Statement for the year to 28 February 2011 Note Profit before tax 4 132 231 Corporation tax net of tax relief on payment to HM Treasury 7

More information

HARMONIC DRIVE SYSTEMS INC. AND CONSOLIDATED SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS MARCH 31, 2013

HARMONIC DRIVE SYSTEMS INC. AND CONSOLIDATED SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS MARCH 31, 2013 HARMONIC DRIVE SYSTEMS INC. AND CONSOLIDATED SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS MARCH 31, 2013 HARMONIC DRIVE SYSTEMS INC. AND CONSOLIDATED SUBSIDIARIES CONSOLIDATED BALANCE SHEETS ASSETS

More information

ELEKTROBUDOWA SPÓŁKA AKCYJNA KATOWICE, UL. PORCELANOWA 12 FINANCIAL STATEMENTS FOR THE 2013 FINANCIAL YEAR WITH AUDITOR S OPINION AND AUDIT REPORT

ELEKTROBUDOWA SPÓŁKA AKCYJNA KATOWICE, UL. PORCELANOWA 12 FINANCIAL STATEMENTS FOR THE 2013 FINANCIAL YEAR WITH AUDITOR S OPINION AND AUDIT REPORT ELEKTROBUDOWA SPÓŁKA AKCYJNA KATOWICE, UL. PORCELANOWA 12 FINANCIAL STATEMENTS FOR THE 2013 FINANCIAL YEAR WITH AUDITOR S OPINION AND AUDIT REPORT TABLE OF CONTENTS AUDITOR S OPINION... 3 REPORT SUPPLEMENTING

More information

462 IBN18 (MAURITIUS) LIMITED. IBN18 (Mauritius) Limited

462 IBN18 (MAURITIUS) LIMITED. IBN18 (Mauritius) Limited 462 IBN18 (MAURITIUS) LIMITED IBN18 (Mauritius) Limited IBN18 (MAURITIUS) LIMITED 463 Independent Auditors Report Independent Auditors Report to the member of IBN18 (Mauritius) Limited Report on the Financial

More information

Shin Kong Investment Trust Co., Ltd. Financial Statements for the Years Ended December 31, 2014 and 2013 and Independent Auditors Report

Shin Kong Investment Trust Co., Ltd. Financial Statements for the Years Ended December 31, 2014 and 2013 and Independent Auditors Report Shin Kong Investment Trust Co., Ltd. Financial Statements for the Years Ended, 2014 and 2013 and Independent Auditors Report INDEPENDENT AUDITORS REPORT The Board of Directors and stockholder Shin Kong

More information

WIPRO DOHA LLC FINANCIAL STATEMENTS AS AT AND FOR THE YEAR ENDED MARCH 31, 2016

WIPRO DOHA LLC FINANCIAL STATEMENTS AS AT AND FOR THE YEAR ENDED MARCH 31, 2016 WIPRO DOHA LLC FINANCIAL STATEMENTS AS AT AND FOR THE YEAR ENDED MARCH 31, 2016 WIPRO DOHA LLC BALANCE SHEET (Amount in ` except share and per share data, unless otherwise stated) As at March 31, 2016

More information

Accounting policies. General information. Comparatives for 2011. Summary of significant accounting policies. Changes in accounting policies

Accounting policies. General information. Comparatives for 2011. Summary of significant accounting policies. Changes in accounting policies Accounting policies General information This document constitutes the Annual Report and Financial Statements in accordance with UK Listing Rules requirements and the Annual Report on Form 20-F in accordance

More information

STATEMENT BY THE BOARD

STATEMENT BY THE BOARD Financial Statements 1 FINANCIAL STATEMENTS STATEMENT BY THE BOARD In our opinion, (a) the accompanying consolidated financial statements of Info-communications Development Authority of Singapore (the

More information

Investments and advances... 344,499

Investments and advances... 344,499 Consolidated Financial Statements of the Company The consolidated balance sheet, statement of income, and statement of equity of the Company are as follows. Please note the Company s consolidated financial

More information

SALADA FOODS JAMAICA LIMITED

SALADA FOODS JAMAICA LIMITED AUDITED ACCOUNTS TO STOCKHOLDERS The Directors are pleased to present the Audited Accounts of the Company for the year ended September 30, 2005. Turnover of $269 million reflects an increase of $20 million

More information

Notes to the Consolidated Financial Statements

Notes to the Consolidated Financial Statements 1 General information Media Chinese International Limited (formerly known as Ming Pao Enterprise Corporation Limited) (the Company ) is a limited liability company incorporated in Bermuda. The Company

More information

Metropolitan Holdings Limited Group accounting policies used in preparation of the restated financial information under International Financial

Metropolitan Holdings Limited Group accounting policies used in preparation of the restated financial information under International Financial Metropolitan Holdings Limited Group accounting policies used in preparation of the restated financial information under International Financial Reporting Standards (IFRS) and the interim results for the

More information

0175/00014699/en Half-Yearly Financial Report GLOBAL DIGITAL SERVICES PLC STC. Correction To:0175/00014529

0175/00014699/en Half-Yearly Financial Report GLOBAL DIGITAL SERVICES PLC STC. Correction To:0175/00014529 Correction To:0175/00014529 0175/00014699/en Half-Yearly Financial Report GLOBAL DIGITAL SERVICES PLC STC Corrected Consolidated Half Year Financial Report 9th February 2016 Global Digital Services PLC

More information

PGE Polska Grupa Energetyczna S.A.

PGE Polska Grupa Energetyczna S.A. Separate Financial Statements prepared in accordance with International Financial Reporting Standards for the year ended 31 December 2012. TABLE OF CONTENTS SEPARATE STATEMENT OF COMPREHENSIVE INCOME...

More information

GOODYEAR (THAILAND) PUBLIC COMPANY LIMITED FINANCIAL STATEMENTS 31 DECEMBER 2011

GOODYEAR (THAILAND) PUBLIC COMPANY LIMITED FINANCIAL STATEMENTS 31 DECEMBER 2011 GOODYEAR (THAILAND) PUBLIC COMPANY LIMITED FINANCIAL STATEMENTS 31 DECEMBER 2011 AUDITOR S REPORT To the Shareholders of Goodyear (Thailand) Public Company Limited I have audited the accompanying statements

More information

Consolidated Financial Statements. FUJIFILM Holdings Corporation and Subsidiaries. March 31, 2015 with Report of Independent Auditors

Consolidated Financial Statements. FUJIFILM Holdings Corporation and Subsidiaries. March 31, 2015 with Report of Independent Auditors Consolidated Financial Statements FUJIFILM Holdings Corporation and Subsidiaries March 31, 2015 with Report of Independent Auditors Consolidated Financial Statements March 31, 2015 Contents Report of Independent

More information

33 BUSINESS ACCOUNTING STANDARD FINANCIAL STATEMENTS OF FINANCIAL BROKERAGE FIRMS AND MANAGEMENT COMPANIES I. GENERAL PROVISIONS

33 BUSINESS ACCOUNTING STANDARD FINANCIAL STATEMENTS OF FINANCIAL BROKERAGE FIRMS AND MANAGEMENT COMPANIES I. GENERAL PROVISIONS APPROVED by Order No. VAS-6 of 12 May 2006 of the Director of the Public Establishment the Institute of Accounting of the Republic of Lithuania 33 BUSINESS ACCOUNTING STANDARD FINANCIAL STATEMENTS OF FINANCIAL

More information

Statements Chapter 5 CHAPTER 5 STATEMENTS I. FINANCIAL STATEMENTS 70 II. CORPORATE RESPONSIBILITY STATEMENTS 149

Statements Chapter 5 CHAPTER 5 STATEMENTS I. FINANCIAL STATEMENTS 70 II. CORPORATE RESPONSIBILITY STATEMENTS 149 CHAPTER 5 STATEMENTS I. FINANCIAL STATEMENTS 70 II. CORPORATE RESPONSIBILITY STATEMENTS 149 69 I. FINANCIAL STATEMENTS Consolidated statement of financial position 71 Consolidated income statement 72 Consolidated

More information

CONSOLIDATED FINANCIAL INFORMATION

CONSOLIDATED FINANCIAL INFORMATION www.legrand.com CONSOLIDATED FINANCIAL INFORMATION AS OF DECEMBER 31, LEGRAND STATUTORY AUDITORS REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, PricewaterhouseCoopers Audit

More information

NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 March 2012

NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 March 2012 For the financial year ended 31 March These notes form an integral part of and should be read in conjunction with the accompanying financial statements. 1. GENERAL The Company, Singapore Telecommunications

More information

TÉCNICAS REUNIDAS, S.A. Annual accounts for the year ended 31 December 2013 and 2013 Director s Report

TÉCNICAS REUNIDAS, S.A. Annual accounts for the year ended 31 December 2013 and 2013 Director s Report TÉCNICAS REUNIDAS, S.A. Annual accounts for the year ended 31 December 2013 and 2013 Director s Report Contents of the annual accounts of Técnicas Reunidas, S.A. Note Page Balance sheet 4 Income statement

More information

HOLLY SPRINGS INVESTMENTS LIMITED HALF YEAR REPORT FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2008 CONTENTS STATEMENT OF FINANCIAL PERFORMANCE 1

HOLLY SPRINGS INVESTMENTS LIMITED HALF YEAR REPORT FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2008 CONTENTS STATEMENT OF FINANCIAL PERFORMANCE 1 HALF YEAR REPORT FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2008 CONTENTS PAGES STATEMENT OF FINANCIAL PERFORMANCE 1 STATEMENT OF MOVEMENTS IN EQUITY 2 STATEMENT OF FINANCIAL POSITION 4-4 STATEMENT OF CASH

More information

IFrS. Disclosure checklist. July 2011. kpmg.com/ifrs

IFrS. Disclosure checklist. July 2011. kpmg.com/ifrs IFrS Disclosure checklist July 2011 kpmg.com/ifrs Contents What s new? 1 1. General presentation 2 1.1 Presentation of financial statements 2 1.2 Changes in equity 12 1.3 Statement of cash flows 13 1.4

More information

Notes to Consolidated Financial Statements Note 1: Basis of Presentation

Notes to Consolidated Financial Statements Note 1: Basis of Presentation NOTES TO CONSOLIDATED FINANCIAL STATEMENTS to Consolidated Financial Statements Note 1: Basis of Presentation Bank of Montreal ( the bank ) is a public company incorporated in Canada having its registered

More information

OBRASCÓN HUARTE LAIN, S.A. AND SUBSIDIARIES. Consolidated financial statements and directors report for the year ended 31 December 2013

OBRASCÓN HUARTE LAIN, S.A. AND SUBSIDIARIES. Consolidated financial statements and directors report for the year ended 31 December 2013 OBRASCÓN HUARTE LAIN, S.A. AND SUBSIDIARIES Consolidated financial statements and directors report for the year ended 31 December 2013 CONTENT CONSOLIDATED FINANCIAL STATEMENTS Consolidated balance sheets

More information