Chapter 1 Financial Statements

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1 Chapter 1 Financial Statements

3 Port Authority of Cadiz Bay Annual report BaLaNCe Sheet Assets Net and Passive Assets A) NON CURRENT ASSETS , ,95 I. Intangible fi xed assets , ,05 1. Industrial property and other intangible assets (0,00) (0,00) 2. Computer applications , ,23 3. Advances for intangible assets , ,82 II. Material assets , ,85 1. Land and natural property , ,76 2. Structures , ,98 3. Equipment and technical installations , ,07 4. Assets in progress and advances , ,94 5. Other assets , ,10 III. Property investments , ,05 1. Land , ,41 2. Structures , ,64 IV. Long term investments in companies , ,00 1. Instruments of assets , ,00 2. Credits to company V. Long term fi nancial investments , ,57 1. Instruments of assets 2. Credits to third parties , ,96 3. Public administrations, offi cial subsidies pending charge 4. Other fi nancial assets 9.841, ,61 VI. Assets by deferred tax VII. Non current commercial debtors (0,00) 5.777,43 B) CURRENT ASSETS , ,57 I. Non current assets maintained for sale II. Stock , ,89 III. Commercial debtors and other accounts to charge 1. Customers by sales and services rendered 2. Customers and debtors, companies , , , ,73 3. Various debtors , ,66 4. Public administrations, offi cial subsidies pending charge 5. Other credits with Public administrations IV. Short term investments in companies , , , ,30 V. Short term fi nancial investments , ,98 1. Instruments of assets 2. Credits to companies 3. Other fi nancial assets , ,98 VI. Accruals , ,58 VII. Cash and other equivalent liquid assets , ,61 1. Liquid assets , ,61 2. Other equivalent liquid assets Total Assets (A+B) , ,52 A) NET WORTH , ,79 A-1) Own funds , ,87 I. Capital resources , ,40 II. Accumulated results ( ,53) ( ,26) III. Financial year results , ,73 A-2) Value adjustments I. Financial assets available for sale II. Charging operations III. Others A-3) Subsidies, donations and legacies received , ,92 B) NON CURRENT LIABILITIES , ,45 I. Long term forecasts , ,45 1. Long term obligations to personnel 2. Provision for responsibilities , ,00 3. Other provisions , ,45 II. Long term debts ,00 1. Debts with credit companies ,00 2. Long term assets suppliers 3. Others III. Long term debts with companies IV. Assets by deferred tax V. Long term accruals C) CURRENT LIABILITIES , ,28 II. Short term provisions III. Short term debts , ,86 1. Debts with credit companies , ,61 2. Short term assets suppliers , ,78 3. Other fi nancial liabilities , ,47 IV. Short term debts with companies V. Commercial creditors and other accounts to pay 1. Creditors and other accounts to pay 2. Public administrations, subsidy advances 3. Other debts with Public administrations , , , , , , , , , ,59 VI. Accruals Total Net & Passive Assets (A+B+C) , ,52

4 4 CHAPTER 1. Financial Statements 1.2 profit and LOSS account (Debit) Credit NET AMOUNT OF THE BUSINESS FIGURE , ,54 A. Port rates , ,83 a) Rate for exclusive occupation of the public port authority , ,36 b) Rates for special use of port facilities , ,58 1. Ship rate , ,30 2. Rate of sports and pleasure boats , ,00 3. Passage rate , ,05 4. Goods rate , ,94 5. Fresh fi shing rate , ,29 6. Special utilization of transit zone (T6) c) Activity rate , ,48 d) Help to navigation rate , ,41 B. Other business income , ,71 a) Additional amounts to rates , ,64 b) Rates and others , ,07 3. WORKS CARRIED OUT BY THE COMPANY FOR ITS ASSETS 5. OTHER OPERATION INCOME , ,60 a) Supplementary income and other of current management , ,34 b) Operation subsidies incorporated in fi nancial year results ,00 - c) Income transferred to the results by reverted concessions , ,26 d) Interport Compensation Fund received , ,00 6. PERSONNEL COSTS ( ,21) ( ,49) a) Wages, salaries and eligible employees ( ,60) ( ,42) b) Indemnities c) Social taxes ( ,61) ( ,07) d) Provisions 7. OTHER RUNNING COSTS ( ,06) ( ,20) a) External services ( ,94) ( ,65) 1. Repairs and maintenance ( ,69) ( ,23) 2. Services of independent professionals ( ,03) ( ,39) 3. Supplies and consumption ( ,59) ( ,06) 4. Other external services ( ,63) ( ,97) b) Taxes ( ,74) ( ,24) c) Losses, damage and variation of provisions for commercial operations ( ,84) ( ,14) d) Other current management costs (48.299,59) (54.216,80) e) Contribution to State Ports art b) Law 48/2003 ( ,95) ( ,37) f) Interport Compensation Fund contributed ( ,00) ( ,00) 8. REPAYMENTS OF FIXED ASSETS ( ,79) ( ,93) 9. IMPUTATION OF NON FINANCIAL ASSET SUBSIDIES AND OTHERS , , EXCESSES OF PROVISIONS , , DAMAGE AND RESULTS BY ASSET PROFITS (28.965,93) (12.632,54) a) Damages and losses , ,28 b) Profi t results and others ( ,81) (94.337,82) OTHER RESULTS ,73 a) Exceptional incomes ,40 b) Exceptional expense - (47.997,67) A.1. OPERATION RESULT ( ) , , FINANCIAL INCOME , ,65 a) From participation in asset instruments b) From negotiable values and other fi nancial instruments , ,52 c) Incorporation of fi nancial costs in assets , , FINANCIAL COSTS ( ,36) ( ,71) a) Third party debts ( ,36) ( ,71) b) Update of provisions 14. REASONABLE VALUE VARIATION IN FINANCIAL INSTRUMENTS 16. DAMAGE AND RESULTS BY FINANCIAL INSTRUMENTS PROFITS a) Damage an losses b) Results from profi ts and others A.2. FINANCIAL RESULT ( ) , ,94 A.3. RESULT BEFORE TAX (A.1+A.2) , , BENEFITS TAX A.4. FINANCIAL YEAR RESULT (A.3+17) , ,73

5 Port Authority of Cadiz Bay Annual report State OF CaSh FLOW Concept A) CASH FLOW OF ACTIVITIES IN OPERATION (+/-1+/-2+/-3+/-4) , ,02 1. Financial year results before taxes , ,73 2. Adjustments of results , ,71 a) Depreciation of assets (+) , ,93 b) Corrections assessed because of damages (+/-) ( ,88) (81.705,28) c) Variation of provisions (+/-) (96.400,97) ( ,70) d) Allocation of subsidies (-) ( ,56) ( ,04) e) Results for losses and transfers of assets (+/-) , ,82 f) Results for losses and transfers of fi nancial instruments (+/-) g) Financial income (-) ( ,73) ( ,65) h) Financial costs (+) , ,71 i) Reasonable variation of value in fi nancial instruments (+/-) j) Income transferred to the results by reverted allowances (-) ( ,34) (90.157,26) k) Allocation to results of advances received for sales or services rendered (-) l) Other income and costs (+/-) ,18 3. Changes in current capital , ,81 a) Stock (+/-) 3.900, ,45 b) Debtors and other accounts to charge (+/-) , ,91 c) Other current assets (+/-) 2.910,90 220,96 d) Creditors and other accounts to pay (+/-) ,88 ( ,26) e) Other current liabilities (+/-) , ,96 f) Other non current assets and liabilities (+/-) ( ,54) ( ,21) 4. Other cash fl ow of activities in operation ( ,59) ( ,23) a) Interest payments (-) ( ,99) ( ,73) b) Late payment interest for pricing disputes (-) c) Dividend charges (+) , ,44 d) Interest charges (+) - ( ,63) e) Subsidy late payment interest charges for pricing disputes (+) ,63 f) Charges (payments) for benefi t tax (+/-) ,28 (1.609,94) g) Other payments (charges) (-/+) (10.000,00) ( ,00) B) CASH FLOW OF INVESTMENT ACTIVITIES (7-6) ( ,94) ( ,32) 6. Investment payments (-) ( ,90) ( ,58) a) Companies b) Intangible fi xed assets ( ,29) ( ,70) c) Material assets ( ,07) ( ,88) d) Property investments (45.053,54) - e) Other fi nancial assets f) Non current assets maintained for sale g) Other assets 7. Charges for disinvestments (+) , ,26 a) Companies b) Intangible fi xed assets c) Material assets ,25 - d) Property investments e) Other fi nancial assets , ,00 f) Non current assets maintained for sale g) Other assets , ,26 C) CASH FLOW OF FINANCING ACTIVITIES (+/-9+/-10) , ,65 9. Charges and payments for instruments of assets , ,65 a) Subsidies, donations and legacies received (+) , ,65 b) xxxxx 10. Charges and payments for instruments of fi nancial liabilities , ,00 a) Issue , ,00 1. Debts with credit companies (+) , ,00 2. Debts with companies (+) 3. Other debts (+) b) Return and repayment of ( ,80) - 1. Debts with credit companies (-) ( ,80) - 2. Debts with companies (-) 3. Other debts (-) E) NET INCREASE/DECREASE OF CASH OR EQUIVALENT (+/-A+/-B+/-C) ,76 ( ,65) Cash or equivalent at the start of the fi nancial year , ,26 Cash or equivalent at the end of the fi nancial year , ,61

6 6 CHAPTER 1. Financial Statements 1.4 State OF ChaNGeS IN Net assets a) State OF recognized INCOMe and COStS A) RESULT OF THE PROFIT AND LOSS ACCOUNT , ,73 B) INCOME AND COSTS DIRECTLY ATRIBUTED TO THE NET ASSETS (I+II+III+V) , ,39 I. By assessment of fi nancial instruments 1. Financial assets available for sale 2. Other income/costs II. By cash fl ow covers III. Subsides, donations and legacies , ,39 V. Tax bill C) TRANSFERS TO THE LOSSES AND GAINS ACCOUNT (VI+VII+VIII+IX) ( ,90) ( ,30) VI. By assesment of assets and liabilities 1. Financial assets available for sale 2. Other income/costs VII. By cash fl ow covers VIII. Subsidies, donations and legacies ( ,90) ( ,30) IX. Tax bill Total recognized income and cost (A+B+C) , ,82 B) total State OF ChaNGeS IN Net assets Assets Results previous fi nancial years Result fi nancial year Adjustements for changes in value Subsides, donations and legacies Total A. BALANCE. END YEAR ,40 ( ,23) , , ,97 I. Adjustments by changes of criteria 2008 and previous years II. Adjustments by errors 2008 and previous years B. ADJUSTED BALANCE, START YEAR ,40 ( ,23) , , ,97 I. Total recognized income and costs , , ,82 II. Operations with partners or propietors (*) III. Other variations in net assets ,97 ( ,97) - C. BALANCE, END YEAR ,40 ( ,26) , , ,79 I. Adjustments by changes of criteria 2008 II. Adjustments by errors D. ADJUSTED BALANCE, START YEAR ,40 ( ,26) , , ,79 I. Total recognized income and costs , , ,87 II. Operations withe partners or propietors (*) III. Other variations in net assets ,73 ( ,73) - E. BALANCE, END YEAR ,40 ( ,53) , , ,66 (*) Capital appointees

SURNAME NAME D.N.I. Company ITT, Ltd. provides the following information for the calculation of the income tax expense of 2009:

SURNAME NAME D.N.I. Company ITT, Ltd. provides the following information for the calculation of the income tax expense of 2009: FINANCIAL ACCOUNTING. YEAR 2008-2009. GROUP 5 Second Semester Exam ONLY LESSONS 5&6 9 th June 2009 SURNAME NAME D.N.I. EXERCISE 1 (3 points) Company ITT, Ltd. provides the following information for the