Oświęcim, ul. Chemików 1 - PDF

Description
Oświęcim, ul. Chemików 1 Condensed separate interim financial statements for the six months ended International Financial Reporting Standards as adopted by the European Union Oświęcim, Note

Please download to get full document.

View again

of 18
All materials on our website are shared by users. If you have any questions about copyright issues, please report us to resolve them. We are always happy to assist you.
Information
Category:

Engineering

Publish on:

Views: 17 | Pages: 18

Extension: PDF | Download: 0

Share
Transcript
Oświęcim, ul. Chemików 1 Condensed separate interim financial statements for the six months ended International Financial Reporting Standards as adopted by the European Union Oświęcim, Note 1. Accounting policies Note 2. Explanations regarding seasonal or cyclical nature of the activities of Synthos S.A. 12 Note 3. Contingent liabilities, guarantees and pledges Note Note Note 6. Issues, redemptions, and repayments made in respect of debt and equity securities, loans and borrowings Note 7. Dividends paid Note 8. Dividend payable Note 9. Information on operating segments Note 10. Related-party transactions Note Sales revenue Cost of sales Gross profit from sales Other operating income Administrative expenses Other operating expenses Other comprehensive income Foreign exchange differences on translation of the foreign Branch s balance sheet Valuation of financial assets available for sale Other comprehensive income (net) Total comprehensive income Basic (PLN) Diluted (PLN) The separate statement of comprehensive income should be analyzed jointly with the explanatory notes which are an integral part of the condensed separate interim financial statements 4 Non-current assets Property, plant and equipment Intangible assets Shares in subsidiaries Available-for-sale financial assets Borrowings granted Deferred income tax assets Total non-current assets Income tax receivable Trade and other receivables Cash and cash equivalents Equity and liabilities Equity Share capital Revaluation reserve Foreign exchange differences on translation of the foreign Branch s balance sheet Other reserves Total equity Liabilities Liabilities in respect of loans, borrowings and other debt instruments Employee benefits payable Total non-current liabilities Liabilities in respect of loans, borrowings and other debt instruments Employee benefits payable Income tax liabilities Trade and other payables Total current liabilities Total liabilities Total equity and liabilities The separate statement of financial position should be analyzed jointly with the explanatory notes which are an integral part of the condensed separate interim financial statements 5 Share capital Other reserves Foreign exchange differences on translation Revaluation reserve Total capital and reserves Payment of dividend Total comprehensive income, gross Total net comprehensive income Share capital Other reserves Foreign exchange differences on translation Revaluation reserve Total capital and reserves Payment of dividend Total comprehensive income, gross Deferred income tax on other comprehensive income Total net comprehensive income The statement of changes in separate equity should be analyzed jointly with the explanatory notes which are an integral part of the condensed separate interim financial statements Foreign exchange losses Cash flows from operating activities before changes in working capital Increase/decrease in receivables Increase/(Decrease) in trade payables and other liabilities Cash from operating activities Corporate income tax paid Net cash from operating activities Cash flows from investing activities Disposal of intangible assets and property, plant and equipment Cash flows from investing activities (cont.) Net cash from investing activities Cash flows from financing activities Drawing of loans and borrowings Dividends and other payments to shareholders Payments in respect of finance leases Net cash from financing activities Net increase/(decrease) in cash and cash equivalents Change in cash and cash equivalents in the balance sheet Cash and cash equivalents at the beginning of the year Impact of foreign exchange gains/(losses) on cash and cash equivalents Cash and cash equivalents at the beginning of the period Information on Synthos S.A. Synthos S.A. (previously Firma Chemiczna Dwory S.A., hereinafter referred to as the Company ) is a joint-stock company registered in Poland. The Company s shares are quoted on the Warsaw Stock Exchange. The Company s registered office is in Oświęcim, ul. Chemików 1. Key Company data: On 27 August 2001, the Company was entered in the Register of Businesses of the National Court Register with the reference number KRS The Company s business comprises specifically: holding activities business and management advisory services accounting and bookkeeping activities Synthos S.A. is the Synthos S.A. Group s Parent Company. In accordance with the Memorandum of Association, the Company s duration is unspecified. Synthos S.A. has a foreign branch in the Czech Republic organizační složka The Branch s registered office is in Kralupy nad Vltavou, O.Wichterleho 810. The Branch is registered in the Court Register in Prague with the number The Branch s business comprises specifically: accounting and bookkeeping activities The Company s Management Board: Tomasz Kalwat President of the Board Zbigniew Lange - Board Member Tomasz Piec - Board Member Jarosław Grodzki Mariusz Waniołka Krzysztof Kwapisz Deputy Chairman Grzegorz Miroński Secretary Robert Oskard Member Note 1. Accounting policies Representations on consistency and basis of preparation of the separate interim condensed financial statements Synthos S.A. for the first half of 201 were prepared in accordance with the International Accounting Standard 34 Interim financial reporting on the assumption that the Company would continue in operation as a going concern in the foreseeable future. The financial statements present the Company s results of operations and on its asset and financial position in a true, fair and clear manner. The accounting policies used in the financial statements comply with the policies used in the annual financial statements for In these financial statements the following new and amended standards and interpretations which became binding as of 1 January 2013 were used for the first time: IFRS 13 Fair value measurement IFRS 13 was published by the International Accounting Standards Board in May 2011 and is binding for annual periods which begin on or after 1 January The change did not have a material effect on the Company s financial statements. Presentation of items of other comprehensive income amendments to IAS 1 Amendments to IAS 1 Presentation of financial statements relating to the presentation of items of other comprehensive income were published by the International Accounting Standards Board in June 2011 and are binding for annual periods beginning on or after 1 July These amendments require the entities to divide the items presented in other comprehensive income into two groups based on whether they may be disclosed in the results in the future. Additionally, the title of the statement of comprehensive income was changed into statement of profit or loss and other comprehensive income. The change did not have a material effect on the Company s financial statements. Amendments to IAS 19 Employee Benefits The amended IAS 19 Employee benefits was published by the International Accounting Standards Board in June 2011 and is binding for annual periods beginning on or after 1 January The amendments introduce new requirements in respect of recognizing and measuring the cost of defined benefit plans and benefits in respect of termination of employment; the required disclosures relating to all employee benefits also change. The change did not have a material effect on the Company s financial statements. In May 2012 the International Accounting Standards Board published IFRS Improvements , which amend 5 standards. The revisions include presentation, recognition and measurement changes, and include terminological and editorial changes. Most of the revisions will apply to annual periods commencing on 1 January The change did not have a material effect on the Company s financial statements. Standards and Interpretations which have been published but are not yet binding and have not been adopted early by the Company has not decided to implement them early: The Company IFRIC 21 Levies IFRIC 21 was published by the International Accounting Standards Board in May 2013 and is binding for annual periods which begin on or after 1 January The interpretation explains accounting recognition of liabilities in respect of levies which are not income taxes. It identifies the obligating event for the recognition of a liability as the activity that triggers the payment of the levy in accordance with the relevant legislation. The going concern principle and preparation of financial statements on the going concern basis do not create or imply that an obligating event has occurred. The same principles for the recognition of a liability are binding for the annual and interim financial statements. The Company will apply IFRIC 21 from 1 January The Company does not expect the change to have a material impact on the financial statements. As at the date of these financial statements, IFRIC 21 has not yet been adopted by the European Union. Recoverable amount disclosures on non-financial assets Amendments to IAS 36 The amended IAS 36 Impairment of non-financial assets relating to disclosures of the recoverable amounts was published by the International Accounting Standards Board in May 2013 and is binding for annual periods beginning on or after 1 January The amendments restrict the requirement to disclose recoverable amounts in the event that the cash generating unit includes goodwill or intangible assets with an unspecified useful life and no impairment was determined. The Company will apply the amended IAS 36 from 1 January The Company does not expect the change to have a material impact on the financial statements. As at the date of preparing these financial statements, the amendments to IAS 36 have not yet been adopted by the European Union. Novation of Derivatives and Continuation of Hedge Accounting amendments to IAS 39 The amended IAS 39 Financial instruments relating to hedge accounting was published by the International Accounting Standards Board in June 2013 and is binding for annual periods beginning on or after 1 January The Company will apply the amended IAS 39 from 1 July The Company does not expect the change to have a material impact on the financial statements. As at the date of preparing these financial statements, the amendments to IAS 39 have not yet been adopted by the European Union. Note 2. Explanations regarding seasonal or cyclical nature of the activities of Synthos S.A. The Company does not show seasonality or cyclical nature of deliveries or sales. Note 3. Contingent liabilities, guarantees and pledges On 7 March 2008, the Company, jointly and severally with its subsidiary 7 spółka z ograniczoną odpowiedzialnością S.K.A. (formerly granted a guarantee of repayment of the second tranche of the loan for the purchase of shares in Synthos Kralupy to the Subsidiary Kralupy. On 1 June 2010, the Company, jointly and severally with its subsidiary Synthos Dwory 7 spółka z ograniczoną odpowiedzialnością S.K.A. (formerly Synthos Dwory Sp. z o.o.) granted a guarantee of repayment of an investment loan to the Subsidiary Synthos PBR. As at the date of these financial statements no circumstances occurred which would obligate the guarantor to pay the guaranteed amounts. Guarantee to SYNTHOS Kralupy guarantee of repayment of part of the loan 7 spółka z ograniczoną odpowiedzialnością S.K.A. Validity date Guarantee to SYNTHOS PBR guarantee of repayment of a loan a credit facility - guarantee of repayment of Validity date Note 4. Preparation of separate condensed interim financial statements compliant with IAS 34 requires using certain material accounting assumptions. It also requires the Management Board to exercise judgment in the process of applying the Company's accounting policies. Material estimates and assumptions have not changed since the publication of the annual financial statements for 2012. Note 5. Details regarding fair value of financial instruments which can be assessed are presented below. Financial instruments at fair value as at June 30, Financial instruments at fair value as at December 31, Level 1 Shares of companies listed on stock exchanges. The fair value was determined on the basis of stock market quotation. Level 2 Swap contracts hedging interest rate loans. The fair value was determined based on the valuation of banks issuing these contracts. Level 3 Did not occur. Note 6. Issues, redemptions, and repayments made in respect of debt and equity securities, loans and borrowings In the first half of 2013, the Company issued bonds totaling PLN 240,000,000 (in the first half of 201 PLN 445,000,000). The price of one bond is equal to its nominal value and amounts to PLN 5,000,000. The purpose of the bond issue is to optimize liquidity management in the Group and to finance the Company s current operations. The bonds will be redeemed on 30 June Note 7. Dividends paid the Ordinary General Shareholders Meeting passed a resolution to pay out dividend of PLN thousand Note 8. Dividend payable The liability in respect of the second tranche of the dividend as at Note 9. Information on operating segments Due to the nature of its operations (exclusively the performance of management services to related entities) the Company does not present its operating segments Note 10. Related-party transactions Transactions between related entities Receivables from related entities Miejsko-Przemysłowa Oczyszczalnia Ścieków Sp. z o.o. Synthos Dwory 7 spółka z ograniczoną odpowiedzialnością S.K.A. Liabilities to related entities Synthos Dwory 7 spółka z ograniczoną odpowiedzialnością S.K.A. Other Revenues from intercompany transactions 1st half of st half of 2012 Synthos Dwory 7 spółka z ograniczoną odpowiedzialnością S.K.A. Miejsko-Przemysłowa Oczyszczalnia Ścieków Sp. z o.o. Other Purchases from related entities Synthos Dwory 7 spółka z ograniczoną odpowiedzialnością S.K.A. 1st half of st half of 2012 Other Note 11. Until the date of the financial statements no other events occurred which would have a material impact on the condensed interim financial statements for the six months ended 30 June 2013. Signatures of the Management Board Members: Michał Watoła President of the Management Board Person responsible for bookkeeping Board Member Board Member Board Member SYNTHOS S.A. ul. Chemików Oświęcim tel fax
Related Search
We Need Your Support
Thank you for visiting our website and your interest in our free products and services. We are nonprofit website to share and download documents. To the running of this website, we need your help to support us.

Thanks to everyone for your continued support.

No, Thanks