Finances. Finanzas. Finances

Transcription

1 Point/Punto 8 APPROVAL APROBACIÓN APPROBATION Finances Finanzas Finances

2 Point/Punto 8 APPROVAL APROBACIÓN APPROBATION 8.1 Approval of the financial report & budgets execution for Aprobación del informe financiero y ejecución de los presupuestos para Approbation du bilan financier et exécution des budgets

3 METROPOLIS Association governed by Law of 1 July , rue Barbet de Jouy PARIS France Auditor s Report on Annual Accounts Financial year ended 31 December 2014

4 Deloitte Deloitte Marque & Gendrot 185, avenue Charles de Gaulle NeuillysurSeine Cedex France Telephone: + 33 (0) Fax: + 33 (0) METROPOLIS Association governed by Law of 1 July , rue Barbet de Jouy PARIS France Auditor s Report on Annual Accounts Financial year ended 31 December 2014 As commissioned by the Board of Directors of your association, we hereby submit the report for the financial year ended 31 December 2014, which includes: The audit of the annual accounts of the METROPOLIS association, as attached to this report. The justification of our assessments. The specific checks and information required by law. The annual accounts were approved by the Board of Directors. The opinion we express is based on our audit of those accounts. I. Opinion on the annual accounts We conducted our audit in accordance with the professional standards applicable in France. These standards require the application of due diligence to obtain reasonable assurance that the annual accounts are free of material inaccuracies. An audit consists in examining, on a test basis or through other selection methods, evidence supporting the amounts and disclosures in the annual accounts. It also involves an assessment of the accounting principles used, of any significant estimates made and of the presentation of the set of accounts. We believe that our audit has provided us with sufficient relevant information on which to base our opinion. We certify that, under French accounting rules and principles, the annual accounts are accurate and true, and faithfully reflect operating net income for past financial year, as well as the liabilities, assets and financial position of the association at the end of that financial year. Société anonyme (public limited company) with a capital of 27,200,000 Accountancy firm duly registered with the Regional Council (Tableau de l Ordre du Conseil Régional) of Paris/ÎledeFrance Firm of Auditors duly registered with the Regional Association (Compagnie régionale) of Versailles RCS Nanterre IVA FR An entity of the Deloitte network

5 Deloitte METROPOLIS II. Justification of our assessments Under the provisions of Article L of the French Commercial Code, relating to the justification of our assessments, we hereby inform you that the assessments we made focus on the appropriateness of the accounting principles applied. The assessments thus made fall within the context of our process of auditing of the annual accounts, taken as a whole, and therefore contribute to the formation of our opinion expressed in the first part of this report. III. Specific checks and information In accordance with the professional standards applicable in France, we also carried out the specific checks required by law. The information provided in the Board of Directors management report and in the documents addressed to the members about the financial position and the annual accounts appears faithful and consistent with the annual accounts, save the following observation: The table reflecting implementation of the 2014 budget appearing in the financial report for the year shows a net income of 117,969, which differs from that shown in the profit and loss account, 136,469. This discrepancy, which is the subject of footnote 1 at the bottom of the table, is due to the fact that the table does not show the percentage of the subsidy received for sponsoring the 2014 Congress in Hyderabad, which must be contractually repaid to the host city. NeuillysurSeine, 6 July 2015 The auditor Deloitte Marque & Gendrot [Signature] Pascal REMBERT

6 Annual Accounts Balance Sheet: Assets Balance Sheet: Liabilities Profit and Loss Account Profit and Loss Account (continued) Breakdown of the Assets Balance Sheet Breakdown of the Liabilities Balance Sheet Breakdown of the Profit and Loss Account Summary of the Annex Accounting Rules and Methods Significant Events Fixed Assets Depreciation Provisions on the Balance Sheet Statement of accounts receivable and payable

7 Balance Sheet Assets Firm: METROPOLIS Period: January to December Date: 27/04/2015 FIXED ASSETS Intangible fixed assets Formation expenses Research and development expenses Concessions, patents, licenses, software, trademarks and similar rights Goodwill (1) Other intangible fixed assets Intangible fixed assets in progress Advances and prepayments Tangible fixed assets Land Buildings Plant, machinery and equipment Other tangible fixed assets Tangible fixed assets in progress Advances and prepayments Financial fixed assets (2) Holdings Holding receivables Longterm portfolio securities Other longterm securities Loans Other financial fixed assets CURRENT ASSETS Inventory and work in progress Raw materials and other supplies Work in progress (goods and services) Intermediate and finished products Merchandise Advances and prepayments on orders Accounts receivable (3) Trade accounts receivable Other accounts receivable Subscribed capital, called up and unpaid Marketable securities Own shares Other securities Cash instruments Liquid assets Prepaid expenses (3) Expenses spread over several financial years Loan redemption premiums Exchange differences (asset) 31/12/ /12/2013 Gross Prov. Depr. Net Net 12,369 50, , , , ,052 1, ,830 12,369 35,164 47, , , , , ,052 1, ,830 10, , , , ,450 1, ,253 GENERAL TOTAL 450,256 47, , ,685

8 Balance Sheet Liabilities Firm: METROPOLIS Period: January to December Date: 28/04/2015 EQUITY Share capital (of which paid up :) Issue, merger and contribution premiums Revaluation differences Equivalence difference Reserves: Legal reserves Statutory and contractual reserves Regulatory reserves Other reserves Retained earnings Financial year net income (profit or loss) Investment subsidies Regulated provisions 31/12/ /12/2014 Net Net 426, , , , , ,193 OTHER EQUITY CAPITAL Proceeds from issues of participating shares Contingent advances Other equity capital PROVISIONS FOR LOSSES AND EXPENSES Provisions for losses Provisions for expenses DEBTS (1) Convertible debenture loans Other debenture loans Bank borrowings and debts (2) Borrowings and financial debts (3) Advances and prepayments received on orders in progress Trade accounts payable Tax and social security liabilities Liabilities on fixed assets and accounts payable Other debts Cash instruments Deferred income (1) Exchange differences (liability) 398 2,133 47,876 31,269 31, , ,918 23,266 41,178 49, ,493 GENERAL TOTAL (1) Of which due in over 1 year (a) (1) Of which due in up to 1 year (a) (2) Of which bank overdrafts and credit balances (3) Of which equity borrowings (a) Other than the advances and prepayments received on orders in progress 402, , , ,

9 Profit and Loss Account Firm: METROPOLIS Period: January to December Date: 28/04/ /12/ /12/2013 France Export Total Total Operating income (1) Sales of merchandise Sales of finished goods Sales of finished services Net turnover Stock of finished goods Capitalised production Net income on longterm operations Operating subsidies Reversals of provisions and transfer of expenses Other income Operating costs (2) Purchase of merchandise Change in stock Purchase of raw materials, supplies and other consumables Change in stock Other purchases and external expenses (a) Taxes, levies and similar payments Salaries and wages Social security contributions Allocation to depreciation and provisions: Fixed assets: to depreciation Fixed assets: to provisions Current assets: to provisions Losses and expenses: to provisions Other expenses OPERATING RESULT 348, , , , ,879 68, , ,673 1, , ,815 3, , , , , , , ,283 9, , ,105 2, , ,148 Share of profits from joint ventures Allocated profit or transferred loss Supported loss or transferred profit Financial income From equity (3) From securities and other financial fixed assets (3) Other interest or similar income (3) Reversals of provisions and transfers of expenses Gains on exchange differences Proceeds from assignment of securities Other financial income Financial expenses Allocation to depreciation and provisions Interest and similar expenses (4) Losses on exchange differences Net loss from assignment of securities FINANCIAL RESULT 6,670 6,670 5,866 5, ,486 9, ,482

10 CURRENT RESULT BEFORE TAX 134, ,665 Extraordinary income Extraordinary income from operations Extraordinary income from capital transactions Other extraordinary income Reversals of provisions and transfers of expenses Extraordinary expenses Extraordinary expenses from operations Extraordinary expenses from capital transactions Other extraordinary expenses Allocation to depreciation and provisions EXTRAORDINARY RESULT Employees profit sharing Tax on profit 2,277 0 Total income Total expenses 811, , , ,497 NET PROFIT/LOSS 136, ,665 a) Including: equipment lease payments property lease payments 1) Of which income relating to previous financial years 2) Of which expenses relating to previous financial years 3) Of which income concerning linked companies 4) Of which interest concerning linked companies

11 Accounting Rules and Methods (Decree of 29/11/1983 Articles 7, 21, 24 beginning, 24.1, 24.2 and 24.3) ANNEX TO THE BALANCE SHEET AND PROFIT AND LOSS ACCOUNT Annex to the balance sheet before appropriation of earnings for the financial year ended 31/12/2014, whose total is 402,722.51, and to the profit and loss account for the financial year, presented in the form of a list, showing a net income of 136, The financial year covers a period of 12 months, from 01/01/2014 to 31/12/2014. The notes and tables below are an integral part of the annual accounts. These annual accounts were submitted on 28/04/2015. Significant events during the financial year: NONE Significant events subsequent to the end of the financial year: NONE The general accounting conventions were applied, adhering to the principle of prudence, in accordance with the following fundamental assumptions: The continuance of operations. The permanence of accounting methods from one financial year to the next. The independence of financial years. The general rules for establishing and presenting annual accounts were also observed. The basic method used to assess the entries posted in the accounts was the historical cost method. Intangible fixed assets Intangible fixed assets are valued at their acquisition cost. A straightline or declining balance method is applied to depreciation according to the expected life of the asset. Concessions, patents and licences 3 years Tangible fixed assets Tangible fixed assets are valued at their acquisition cost (purchase price and sundry expenses). A straightline or declining balance method is applied to depreciation according to the expected life of the asset. Fixtures and fittings of buildings 5 years Others 4 years Holdings, other longterm securities and marketable securities At the end of the financial year, the association had 18, BS GARANTIA FIJA 14 FI CP at a historic cost of 105,000 and an asset value of 152,994. Accounts receivable Accounts receivable are valued at their face value. A provision for depreciation is made when the inventory value is lower than the book value.

12 Extraordinary income and expenses There is no extraordinary income. Change of methods In 2009, the association changed its method of recognising and of accounting for its income. Until 2008, membership fees were invoiced to members at the start of the financial year and recorded as receivables in the assets of the balance sheet. When the annual accounts were prepared, the unpaid receivables were fully depreciated. Given the significant and recurring amount of unpaid receivables, this accounting method resulted in the inclusion in the assets of a large sum that was systematically depreciated and whose net value was close or equivalent to zero. In order to simplify the presentation of the balance sheet, it was therefore decided as of 2009 to not record as income the fees paid by the members until they are actually collected. Although this accounting method does not fully comply with the association s internal regulations, it seems to us like a simpler way to reflect the situation of its assets. Securities are accounted for at their historical cost.

13 VOLUNTARY CONTRIBUTIONS IN KIND Three workers made available by Barcelona City Council: Partnership and Corporate Image Manager Fulltime Project Officer Fulltime Project Officer Parttime (70% fulltime equivalent) The overall cost of the above is 117,000. Premises made available by Barcelona City Council, located in Avinyó 15, Barcelona, Spain, with a total floor area of 200m 2. Barcelona City Council meets the expenses linked to association s headquarters, namely: Rent 35,373 Related expenses (water consumption, phone) and maintenance 9,087 Two workers made available by the Barcelona Metropolitan Area: Total 44,460 Initiatives Coordinator Parttime (70% fulltime equivalent) Institutional Relations Manager & Coordinator of the Metropolis Women International Network Fulltime The overall cost of the above is 96,111.

14 Fixed assets Table A Intangible fixed assets Formation, research and development expenses Other entries under intangible fixed assets Total I Total II Gross value at start of financial year 12,369 Revaluation Increase Acquisition Tangible fixed assets Land Buildings on own land Buildings on others land General facilities, fixtures and fittings of buildings Plant, machinery and equipment General facilities, miscellaneous fixtures and fittings Transport equipment Office and IT equipment, furniture Furniture Returnable packaging and miscellaneous Tangible fixed assets in progress Advances and prepayments Total III 1,216 24,807 16,029 42,052 8,705 8,705 Financial fixed assets Holdings valued on an equity basis Other holdings Other longterm securities Loans and other financial fixed assets Total IV GENERAL TOTAL (I + II + III + IV) , ,705 Table B Reduction Gross value at Due to transfer Due to end of assignment financial year Revaluation original value Intangible fixed assets Formation, research and development expenses Other entries under intangible fixed assets Tangible fixed assets Land Buildings on own land Buildings on others land General facilities, fixtures and fittings of buildings Plant, machinery and equipment General facilities, miscellaneous fixtures and fittings Transport equipment Office and IT equipment, furniture Furniture Returnable packaging and miscellaneous Tangible fixed assets in progress Advances and prepayments (I) (II) Total III 12,369 1,216 33,512 16,029 50,757 Financial fixed assets Holdings valued on an equity basis Other holdings Other longterm securities Loans and other financial fixed assets Total IV GENERAL TOTAL (I + II + III + IV) ,

15 Depreciation Table A DEPRECIABLE FIXED ASSETS Intangible fixed assets Formation, research and development expenses Other intangible fixed assets POSITION AND TRANSACTIONS FOR THE FINANCIAL YEAR Total I Total II Value at start of financial year 12,369 Provision increase Reduction outflow/reversal Value at end of financial year 12,369 Tangible fixed assets Land Buildings on own land Buildings on others land General facilities, fixtures and fittings of buildings Plant, machinery and equipment General facilities, miscellaneous fixtures and fittings Transport equipment Office and IT equipment, furniture Returnable packaging and miscellaneous Total III GENERAL TOTAL (I + II + III) 1,216 30,704 31,919 44,288 3,245 3,245 3, ,216 33,948 35,164 47,533 Table B DEPRECIABLE FIXED ASSETS Intangible fixed assets Formation, research and development expenses Total I Other intangible fixed assets Total II BREAKDOWN OF PROVISIONS FOR DEPRECIATION FOR THE FINANCIAL YEAR Straightline Accelerated Extraordinary depreciation depreciation depreciation 0 Table C Provision PROV. DEPR. ALLOWANCE Reversal Tangible fixed assets Land Buildings on own land Buildings on others land General facilities, fixtures and fittings of buildings Plant, machinery and equipment General facilities, miscellaneous fixtures and fittings Transport equipment Office and IT equipment, furniture Returnable packaging and miscellaneous Total III GENERAL TOTAL (I + II + III) 3,245 3,245 3,245 Table D TRANSACTIONS FOR EXPENSES SPREAD OVER SEVERAL FINANCIAL YEARS Net amount at start of financial year Increase Provision for depreciation for financial year Net amount at end of financial year Expenses spread over several financial years Loan redemption premiums

16 Provisions on the Balance Sheet Amount at start of financial year Increase: Provision for financial year Reduction: Reversal for financial year Amount at end of financial year Regulated provisions Provisions for reconstitution of mining and oil deposits Provisions for investments Provisions for price increases Special depreciation allowances Of which extraordinary increases of 30% Tax provisions for setting up abroad before 01/01/92 Tax provisions for setting up abroad after 01/01/92 Provision for startup loans Other regulated provisions Total I Provisions for losses and expenses Provisions for litigation Provisions for customer warranties Provisions for losses on futures markets Provisions for penalties and fines Provisions for exchange losses Provisions for pensions and similar obligations Provisions for taxes Provisions for renewal of fixed assets Provisions for major repairs Provisions for tax and social security liabilities on paid holiday Other provisions for losses and expenses Total II Provisions for depreciation On intangible fixed assets On tangible fixed assets On securities treated on an equity basis On holdings On other financial fixed assets On inventory and work in progress On trade accounts Other provisions for depreciation Total III GENERAL TOTAL (I + II + III) Of which appropriations and writebacks: operating financial extraordinary Securities treated on an equity basis: amount of depreciation for the financial year (Art of the General Tax Code)

17 Statement of accounts receivable and payable Table A RECEIVABLE Gross amount Due in up to 1 year Due in over 1 year From fixed assets Holding receivables Loans (1) (2) Other financial fixed assets From current assets Doubtful and disputed trade receivables Other trade receivables Receivables on securities lent Staff and related receivables Social security and other social organisations Income tax Value added tax Other taxes, levies and similar payments Miscellaneous Group and associated companies (2) Sundry debtors Prepaid expenses 110,778 1,000 64,778 1,000 46,000 Total 111,778 65,778 46,000 (1) Of which loans agreed during the financial year (1) Of which repayments received during the financial year (2) Loans and advances granted to associated companies Table B PAYABLE Convertible debenture loans (1) Other debenture loans (1) Bank borrowings and debts: (1) For up to 1 year at the outset For over 1 year at the outset Miscellaneous financial borrowings and debts (1) (2) Advances and prepayments received Trade accounts payable Staff accounts payable Social security and other social organisations AGIRCARRCO French supplementary retirement institutions Payment on account of income tax on individuals Income tax Value added tax Guaranteed bonds Other taxes, levies and similar payments Amounts payable on fixed assets and related accounts Group and associated companies (2) Other debts Payables on securities borrowed Gross amount Due in up to 1 year Due in 15 years 398 2,133 47,876 16,840 6,543 5,937 8,492 31, ,133 47,876 16,840 6,543 5,937 8,492 31,323 Due in over 5 years Deferred income Total 112, ,999 (1) Borrowings agreed during the financial year (1) Borrowings repaid during the financial year (2) Borrowings and debts incurred with associated companies

18 METROPOLIS Association governed by Law of 1 July , rue Barbet de Jouy PARIS France Auditor s Special Report on Legal Agreements Meeting of the deliberative body on approval of the accounts for the year ending 31 December 2015

19 Deloitte Deloitte Marque & Gendrot 185, avenue Charles de Gaulle NeuillysurSeine Cedex France Telephone: + 33 (0) Fax: + 33 (0) METROPOLIS Association governed by Law of 1 July , rue Barbet de Jouy PARIS France Auditor s Special Report on Legal Agreements Meeting of the deliberative body on approval of the accounts for the year ending 31 December 2015 To all members, As auditors of your association, we present our report on legal agreements. It is our responsibility to inform you that based on the information that you provided to us regarding the essential features and modalities of the agreements communicated or discovered during the fulfilment of our commission, without the obligation to take a stance on their usefulness or foundation, or to seek out the existence of other agreements. Pursuant to the provisions of Article R of the French Commercial Code, it is up to you to assess the interest potentially involved in formalising these agreements for your approval. We conducted our review in accordance with the professional standards of the National Company of Auditors in relation to this commission. Société anonyme (public limited company) with a capital of 27,200,000 Accountancy firm duly registered with the Regional Council (Tableau de l Ordre du Conseil Régional) of Paris/ÎledeFrance Firm of Auditors duly registered with the Regional Association (Compagnie régionale) of Versailles RCS Nanterre IVA FR An entity of the Deloitte network

20 AGREEMENTS SUBJECT TO APPPROVAL BY THE DELIBERATIVE BODY Agreements concluded during the year ended We inform you that we have not been notified of the formalisation of any agreement during the year ended requiring the approval of the deliberative body in application of the provisions of Article L of the French Commercial Code. NeuillysurSeine, 10 November 2016 The auditor Deloitte Marque & Gendrot [Signature] Frédéric Neige

21 METROPOLIS Association governed by Law of 1 July , rue Barbet de Jouy PARIS France Auditor s Report on Annual Accounts Financial year ended 31 December 2015

22 Deloitte Deloitte Marque & Gendrot 185, avenue Charles de Gaulle NeuillysurSeine Cedex France Telephone: + 33 (0) Fax: + 33 (0) METROPOLIS Association governed by Law of 1 July , rue Barbet de Jouy PARIS France Auditor s Report on Annual Accounts Financial year ended 31 December 2015 As commissioned by the Board of Directors of your association, we hereby submit the report for the financial year ended 31 December 2015, which includes: The audit of the annual accounts of the METROPOLIS association, as attached to this report. The justification of our assessments. The specific checks and information required by law. The annual accounts were approved by the Board of Directors. The opinion we express is based on our audit of those accounts. I. Opinion on the annual accounts We conducted our audit in accordance with the professional standards applicable in France. These standards require the application of due diligence to obtain reasonable assurance that the annual accounts are free of material inaccuracies. An audit consists in examining, on a test basis or through other selection methods, evidence supporting the amounts and disclosures in the annual accounts. It also involves an assessment of the accounting principles used, of any significant estimates made and of the presentation of the set of accounts. We believe that our audit has provided us with sufficient relevant information on which to base our opinion. In the first sixmonth period of 2016, your association had to make a French social security and family benefit contributions agencies (URSSAF, as abbreviated in French) adjustment, received a lower grant amount than the amount recorded in the initial provision, and had borne various additional operating costs. Neither those expenses nor the estimated income surplus were recorded in the accounts for the financial year ended 31 December Société anonyme (public limited company) with a capital of 27,200,000 Accountancy firm duly registered with the Regional Council (Tableau de l Ordre du Conseil Régional) of Paris/ÎledeFrance Firm of Auditors duly registered with the Regional Association (Compagnie régionale) of Versailles RCS Nanterre IVA FR An entity of the Deloitte network

23 These elements, arising from postclosing events, should have resulted in a correction of net income equal to 21,024 for the year. Subject to this caveat, we certify that, under French accounting rules and principles, the annual accounts are accurate and true, and faithfully reflect operating net income for past financial year, as well as the liabilities, assets and financial position of the association at the end of that financial year. II. Justification of our assessments Under the provisions of Article L of the French Commercial Code, relating to the justification of our assessments, we hereby inform you of the assessments we made, besides those leading to the abovementioned caveat. The assessments thus made fall within the context of our process of auditing of the annual accounts, taken as a whole, and therefore contribute to the formation of our opinion expressed in the first part of this report. III. Specific checks and information In accordance with the professional standards applicable in France, we also carried out the specific checks required by law. Other than the impact of the facts set out in the first part of this report, we have no further observations to make on the truthful presentation and consistency with the annual accounts of the information given in the Board of Director s annual report and in the documents sent to members about the financial position and the annual accounts. NeuillysurSeine, 10 November 2016 The auditor Deloitte Marque & Gendrot [Signature] Frédéric Neige

24 Balance Sheet Assets Firm: METROPOLIS Period: January to December Date: 23/09/2016 FIXED ASSETS Intangible fixed assets Formation expenses Research and development expenses Concessions, patents, licenses, software, trademarks and similar rights Goodwill (1) Other intangible fixed assets Intangible fixed assets in progress Advances and prepayments Tangible fixed assets Land Buildings Plant, machinery and equipment Other tangible fixed assets Tangible fixed assets in progress Advances and prepayments Financial fixed assets (2) Holdings Holding receivables Longterm portfolio securities Other longterm securities Loans Other financial fixed assets CURRENT ASSETS Inventory and work in progress Raw materials and other supplies Work in progress (goods and services) Intermediate and finished products Merchandise Advances and prepayments on orders Accounts receivable (3) Trade accounts receivable Other accounts receivable Subscribed capital, called up and unpaid Marketable securities Own shares Other securities Cash instruments Liquid assets Prepaid expenses (3) Expenses spread over several financial years Loan redemption premiums Exchange differences (asset) 31/12/ /12/2014 Gross Prov. Depr. Net Net 12,369 52, , ,214 6,465 73, , ,246 12,369 39,710 52, , , ,214 6,465 73, , ,246 15, , , , ,052 1, ,830 GENERAL TOTAL 595,200 52, , ,723

25 Balance Sheet Liabilities Firm: METROPOLIS Period: January to December Date: 23/09/2016 EQUITY Share capital (of which paid up:) Issue, merger and contribution premiums Revaluation differences Equivalence difference Reserves: Legal reserves Statutory and contractual reserves Regulatory reserves Other reserves Retained earnings Financial year net income (profit or loss) Investment subsidies Regulated provisions 31/12/ /12/2014 Net Net 289,724 12, , , , ,724 OTHER EQUITY CAPITAL Proceeds from issues of participating shares Contingent advances Other equity capital PROVISIONS FOR LOSSES AND EXPENSES Provisions for losses Provisions for expenses DEBTS (1) Convertible debenture loans Other debenture loans Bank borrowings and debts (2) Borrowings and financial debts (3) Advances and prepayments received on orders in progress Trade accounts payable Tax and social security liabilities Liabilities on fixed assets and accounts payable Other debts Cash instruments Deferred income (1) Exchange differences (liability) ,917 78,247 31, , , ,133 47,876 31,269 31, ,999 GENERAL TOTAL (1) Of which due in over 1 year (a) (1) Of which due in up to 1 year (a) (2) Of which bank overdrafts and credit balances (3) Of which equity borrowings (a) Other than the advances and prepayments received on orders in progress 543, , , ,999

26 Profit and Loss Account Firm: METROPOLIS Period: January to December Date: 23/09/16 31/12/ /12/2014 France Export Total Total Operating income (1) Sales of merchandise Sales of finished goods Sales of finished services Net turnover Stock of finished goods Capitalised production Net income on longterm operations Operating subsidies Reversals of provisions and transfer of expenses Other income Operating costs (2) Purchase of merchandise Change in stock Purchase of raw materials, supplies and other consumables Change in stock Other purchases and external expenses (a) Taxes, levies and similar payments Salaries and wages Social security contributions Allocation to depreciation and provisions: Fixed assets: to depreciation Fixed assets: to provisions Current assets: to provisions Losses and expenses: to provisions Other expenses OPERATING RESULT 315, , , , , , , , ,926 4, ,511 19, , , ,879 68, , ,673 1, , ,815 3, , ,996 Share of profits from joint ventures Allocated profit or transferred loss Supported loss or transferred profit Financial income From equity (3) From securities and other financial fixed assets (3) Other interest or similar income (3) Reversals of provisions and transfers of expenses Gains on exchange differences Proceeds from assignment of securities Other financial income Financial expenses Allocation to depreciation and provisions Interest and similar expenses (4) Losses on exchange differences Net loss from assignment of securities 8,906 8,906 1,539 1,539 6,670 6,670 5,866 5,866

27 FINANCIAL RESULT CURRENT RESULT BEFORE TAX 7,367 12, ,192 Extraordinary income Extraordinary income from operations Extraordinary income from capital transactions Other extraordinary income Reversals of provisions and transfers of expenses Extraordinary expenses Extraordinary expenses from operations Extraordinary expenses from capital transactions Other extraordinary expenses Allocation to depreciation and provisions EXTRAORDINARY RESULT Employees profit sharing Tax on profit 0 2,277 Total income Total expenses 896, , , ,639 NET PROFIT/LOSS 12, ,469 a) Including: equipment lease payments property lease payments 1) Of which income relating to previous financial years 2) Of which expenses relating to previous financial years 3) Of which income concerning linked companies 4) Of which interest concerning linked companies

28 Accounting Rules and Methods (Decree of 29/11/1983 Articles 7, 21, 24 beginning, 24.1, 24.2 and 24.3) ANNEX TO THE BALANCE SHEET AND PROFIT AND LOSS ACCOUNT Annex to the balance sheet before appropriation of earnings for the financial year ended 31/12/2015, whose total is 536,656.05, and to the profit and loss account for the financial year, presented in the form of a list, showing a net income of 12, The financial year covers a period of 12 months, from 01/01/2015 to 31/12/2015. The notes and tables below are an integral part of the annual accounts. These annual accounts were submitted on 25/07/2016. Significant events during the financial year: Change of Secretary General due to Mr Le Saux s retirement. The general accounting conventions were applied, adhering to the principle of prudence, in accordance with the following fundamental assumptions: The continuance of operations. The permanence of accounting methods from one financial year to the next. The independence of financial years. The general rules for establishing and presenting annual accounts were also observed. The basic method used to assess the entries posted in the accounts was the historical cost method. Intangible fixed assets Intangible fixed assets are valued at their acquisition cost. A straightline or declining balance method is applied to depreciation according to the expected life of the asset. Concessions, patents and licences 3 years Tangible fixed assets Tangible fixed assets are valued at their acquisition cost (purchase price and sundry expenses). A straightline or declining balance method is applied to depreciation according to the expected life of the asset. Fixtures and fittings of buildings 5 years Others 4 years Holdings, other longterm securities and marketable securities At the end of the financial year, the association had 13, BS GARANTIA FIJA 14 FI CP at a historic cost of 73,880 and an asset value of 112,148. Accounts receivable Accounts receivable are valued at their face value. A provision for depreciation is made when the inventory value is lower than the book value. Extraordinary income and expenses

29 There is no extraordinary income.

30 2015 CONTRIBUTIONS IN KIND TO METROPOLIS Barcelona City Council provides five collaborators: Secretary General 100% Project manager 100% Project manager 100% Project manager 100% Project manager 70% The total cost of this contribution is 180,000 Barcelona City Council also provides offices (covering a total area of 200 m 2 in Carrer d Avinyó 15, Barcelona) and pays the expenses of the head office of the Secretariat General. These expenses include: Approximate market price Rent 35,374 Water 130 Cleaning and maintenance 6,300 Telephone 2,660 Total 44,464 The Barcelona Metropolitan Area provides: An initiative coordinator 70% A head of institutional relations and coordinator of the Metropolis Women International Network 100% 96,000 TOTAL ,464

31 Fixed assets Table A Intangible fixed assets Formation, research and development expenses Other entries under intangible fixed assets Total I Total II Gross value at start of financial year 12,369 Revaluation Increase Acquisition Tangible fixed assets Land Buildings on own land Buildings on others land General facilities, fixtures and fittings of buildings Plant, machinery and equipment General facilities, miscellaneous fixtures and fittings Transport equipment Office and IT equipment, furniture Furniture Returnable packaging and miscellaneous Tangible fixed assets in progress Advances and prepayments Total III 1,216 33,512 16,029 50,757 1,528 1,528 Financial fixed assets Holdings valued on an equity basis Other holdings Other longterm securities Loans and other financial fixed assets Total IV GENERAL TOTAL (I + II + III + IV) , ,528 Table B Reduction Gross value at Due to transfer Due to end of assignment financial year Revaluation original value Intangible fixed assets Formation, research and development expenses Other entries under intangible fixed assets Tangible fixed assets Land Buildings on own land Buildings on others land General facilities, fixtures and fittings of buildings Plant, machinery and equipment General facilities, miscellaneous fixtures and fittings Transport equipment Office and IT equipment, furniture Furniture Returnable packaging and miscellaneous Tangible fixed assets in progress Advances and prepayments (I) (II) Total III 12,369 1,216 35,040 16,029 52,285 Financial fixed assets Holdings valued on an equity basis Other holdings Other longterm securities Loans and other financial fixed assets Total IV GENERAL TOTAL (I + II + III + IV) ,

32 Depreciation Table A DEPRECIABLE FIXED ASSETS Intangible fixed assets Formation, research and development expenses Other intangible fixed assets POSITION AND TRANSACTIONS FOR THE FINANCIAL YEAR Total I Total II Value at start of financial year 12,369 Provision increase Reduction outflow/reversal Value at end of financial year 12,369 Tangible fixed assets Land Buildings on own land Buildings on others land General facilities, fixtures and fittings of buildings Plant, machinery and equipment General facilities, miscellaneous fixtures and fittings Transport equipment Office and IT equipment, furniture Returnable packaging and miscellaneous Total III GENERAL TOTAL (I + II + III) 1,216 33,948 35,164 47,533 4,546 4,546 4, ,216 38,495 39,710 52,079 Table B DEPRECIABLE FIXED ASSETS Intangible fixed assets Formation, research and development expenses Total I Other intangible fixed assets Total II BREAKDOWN OF PROVISIONS FOR DEPRECIATION FOR THE FINANCIAL YEAR Straightline Accelerated Extraordinary depreciation depreciation depreciation 0 Table C Provision PROV. DEPR. ALLOWANCE Reversal Tangible fixed assets Land Buildings on own land Buildings on others land General facilities, fixtures and fittings of buildings Plant, machinery and equipment General facilities, miscellaneous fixtures and fittings Transport equipment Office and IT equipment, furniture Returnable packaging and miscellaneous Total III GENERAL TOTAL (I + II + III) 4,546 4,546 4,546 Table D TRANSACTIONS FOR EXPENSES SPREAD OVER SEVERAL FINANCIAL YEARS Net amount at start of financial year Increase Provision for depreciation for financial year Net amount at end of financial year Expenses spread over several financial years Loan redemption premiums

33 Provisions on the Balance Sheet Amount at start of financial year Increase: Provision for financial year Reduction: Reversal for financial year Amount at end of financial year Regulated provisions Provisions for reconstitution of mining and oil deposits Provisions for investments Provisions for price increases Special depreciation allowances Of which extraordinary increases of 30% Tax provisions for setting up abroad before 01/01/92 Tax provisions for setting up abroad after 01/01/92 Provision for startup loans Other regulated provisions Total I Provisions for losses and expenses Provisions for litigation Provisions for customer warranties Provisions for losses on futures markets Provisions for penalties and fines Provisions for exchange losses Provisions for pensions and similar obligations Provisions for taxes Provisions for renewal of fixed assets Provisions for major repairs Provisions for tax and social security liabilities on paid holiday Other provisions for losses and expenses Total II Provisions for depreciation On intangible fixed assets On tangible fixed assets On securities treated on an equity basis On holdings On other financial fixed assets On inventory and work in progress On trade accounts Other provisions for depreciation Total III GENERAL TOTAL (I + II + III) Of which appropriations and writebacks: operating financial extraordinary Securities treated on an equity basis: amount of depreciation for the financial year (Art of the General Tax Code)

34 Statement of accounts receivable and payable Table A RECEIVABLE Gross amount Due in up to 1 year Due in over 1 year From fixed assets Holding receivables Loans (1) (2) Other financial fixed assets From current assets Doubtful and disputed trade receivables Other trade receivables Receivables on securities lent Staff and related receivables Social security and other social organisations Income tax Value added tax Other taxes, levies and similar payments Miscellaneous Group and associated companies (2) Sundry debtors Prepaid expenses Total 216, , , ,448 (1) Of which loans agreed during the financial year (1) Of which repayments received during the financial year (2) Loans and advances granted to associated companies Table B PAYABLE Convertible debenture loans (1) Other debenture loans (1) Bank borrowings and debts: (1) For up to 1 year at the outset For over 1 year at the outset Miscellaneous financial borrowings and debts (1) (2) Advances and prepayments received Trade accounts payable Staff accounts payable Social security and other social organisations AGIRCARRCO French supplementary retirement institutions Payment on account of income tax on individuals Income tax Value added tax Guaranteed bonds Other taxes, levies and similar payments Amounts payable on fixed assets and related accounts Group and associated companies (2) Other debts Payables on securities borrowed Gross amount Due in up to 1 year Due in 15 years ,917 78,247 15,048 6,543 10, , ,917 78,247 15,048 6,543 10, ,717 Due in over 5 years Deferred income Total 265, ,888 (1) Borrowings agreed during the financial year (1) Borrowings repaid during the financial year (2) Borrowings and debts incurred with associated companies

35 METROPOLIS Association governed by Law of 1 July , rue Barbet de Jouy PARIS France Auditor s Report on Annual Accounts Financial year ended 31 December 2016

36 METROPOLIS Association governed by Law of 1 July , rue Barbet de Jouy PARIS France Auditor s Report on Annual Accounts Financial year ended 31 December 2016 As commissioned by the General Assembly of your association, we hereby submit the report for the financial year ended 31 December 2016, which includes: The audit of the annual accounts of the METROPOLIS association, as attached to this report. The justification of our assessments. The specific checks and information required by law. The annual accounts were approved by the Board of Directors. The opinion we express is based on our audit of those accounts.

37 METROPOLIS I. Opinion on the annual accounts We conducted our audit in accordance with the professional standards applicable in France. These standards require the application of due diligence to obtain reasonable assurance that the annual accounts are free of material inaccuracies. An audit consists in examining, on a test basis or through other selection methods, evidence supporting the amounts and disclosures in the annual accounts. It also involves an assessment of the accounting principles used, of any significant estimates made and of the presentation of the set of accounts. We believe that our audit has provided us with sufficient relevant information on which to base our opinion. We hereby certify that the financial statements for the fiscal year, by virtue of French accounting standards and principles, are consistent and fair and provide a true, overall representation of the financial position and assets of the association. Without calling into question the opinion expressed above, we would like to draw your attention to the miscellaneous information note in the annex setting out the impact on accounts in the 2016 fiscal year of a shortfall of expenses and a surplus of funding over the 2015 fiscal year, points which were the subject of a caveat within our report on the accounts for the 2015 fiscal year. II. Justification of our assessments Under the provisions of Article L of the French Commercial Code, relating to the justification of our assessments, we hereby inform you that the assessments we made focus on the appropriateness of the accounting principles applied. The assessments thus made fall within the context of our process of auditing of the annual accounts, taken as a whole, and therefore contribute to the formation of our opinion expressed in the first part of this report.

38 METROPOLIS III. Specific checks and information In accordance with the professional standards applicable in France, we also carried out the specific checks required by law. We have no further observations to make on the truthful presentation and consistency with the annual accounts of the information given in the Board of Director s annual report and in the documents sent to members about the financial position and the annual accounts. NeuillysurSeine, 22 June 2017 The auditor Deloitte Marque & Gendrot Frédéric NEIGE

39 Balance Sheet Assets Subscribed capital non called up FIXED ASSETS Intangible fixed assets Formation expenses Development expenses Concessions, patents and similar rights Goodwill Other intangible fixed assets Advances and prepayments on intangible assets Tangible fixed assets Land Buildings Plant, machinery and equipment Other tangible fixed assets Tangible fixed assets in progress Advances and prepayments Financial fixed assets Holdings valued on an equity basis Other holdings Holding receivables Longterm portfolio securities Other longterm securities Loans Other financial fixed assets TOTAL (I) 31/12/ /12/2015 Gross Prov. Depr. Net Net 12,369 61, ,265 12,369 45,268 57,637 16, ,628 12, ,874 CURRENT ASSETS Inventory and work in progress Raw materials and other supplies Work in progress (goods) Work in progress (services) Intermediate and finished products Merchandise Advances and prepayments on orders Accounts receivable Trade accounts receivable Other accounts receivable Subscribed capital, called up and unpaid Marketable securities Own shares Other securities Cash instruments Liquid assets Prepaid expenses TOTAL (II) 177,706 73, ,066 4, , ,706 73, ,066 4, , ,214 6,465 73, , ,246 Expenses spread over several financial years (III) Loan redemption premiums (IV) Exchange differences asset (V) ASSETS GENERAL TOTAL (I to V) 780,365 57, , ,121

40 Balance Sheet Liabilities EQUITY Shareholder's capital of which paid up: Issue, merger and contribution premiums Revaluation differences Equivalence difference Reserves: Legal reserves Statutory and contractual reserves Regulatory reserves Other reserves Retained earnings Financial year net income (profit or loss) Investment subsidies Regulated provisions TOTAL (I) 31/12/ /12/2015 Net Net 277,233 1, , ,724 (12,491) 277,233 OTHER EQUITY CAPITAL Proceeds from issues of participating shares Contingent advances Other equity capital PROVISIONS FOR LOSSES AND EXPENSES Provisions for losses Provisions for expenses TOTAL (I bis) TOTAL (II) BORROWINGS AND DEBTS Convertible debenture loans Other debenture loans Bank borrowings and debts Misc. borrowings and financial debts Advances and prepayments received on orders in progress Trade accounts payable Tax and social security liabilities Liabilities on fixed assets and accounts payable Other debts Cash instruments Deferred income TOTAL (III) Exchange differences (IV) LIABILITIES GENERAL TOTAL (I to IV) ,252 16,165 55, , , , ,917 78,247 31, , , ,121

41 Profit and Loss Account Operating income (1) Sales of merchandise Sales of finished goods Sales of finished services Net turnover Stock of finished goods Capitalised production Operating subsidies received Reversals of amortization, depreciation, provisions and transfer of expenses Other income TOTAL (I) Operating costs (2) Purchase of merchandise (including customs duties) Change in stock (merchandise) Purchase of raw materials and other consumables Change in stock (raw materials and other cons.) Other purchases and external expenses * Taxes, levies and similar payments Salaries and wages Social security contributions Allocation to amortization on fixed assets Allocation to depreciation on fixed assets Allocation to depreciation on current assets Allocation to provisions on losses and expenses Other expenses TOTAL (II) Including: Equipment lease payments Property lease payments OPERATING RESULT (I II) Allocated profit or transferred loss (III) Supported loss or transferred profit (IV) From 01/01/2016 to 31/12/2016 From 01/01/2015 to 31/12/2015 France Export Total Total 343, , , , ,663 19, , , ,643 68,303 5, ,242 27, , , , , , , ,926 4, ,511 (19,858) Financial income From equity (3) From securities and other financial fixed assets (3) Other interest or similar income (3) Reversals of provisions and transfers of expenses Gains on exchange differences Proceeds from assignment of securities TOTAL (V) Financial expenses Allocation to amortization, depreciation and provision Interest and similar expenses (4) Losses on exchange differences Net loss from assignment of securities TOTAL (VI) FINANCIAL RESULT (V VI) CURRENT RESULT BEFORE TAX (I II + II IV + V VI) (69) 27, ,880 8,906 1, ,539 7,367 (12,491)

42 Profit and Loss Account (continued) Extraordinary income Extraordinary income from operations Extraordinary income from capital transactions Reversals of provisions, depreciation and transfers of expenses TOTAL (VII) Extraordinary expenses Extraordinary expenses from operations Extraordinary expenses from capital transactions Allocation to amortization, depreciation and provisions TOTAL (VIII) EXTRAORDINARY RESULT (VII VIII) Employees profit sharing (IX) Tax on profit (X) TOTAL INCOME (I + III + V + VII) TOTAL EXPENSES (II + IV + VI + VIII + IX + X) NET PROFIT/LOSS (total income total expenses) 1) Of which income relating to previous financial years 2) Of which expenses relating to previous financial years 3) Of which income concerning linked companies 4) Of which interest concerning linked companies From 01/01/2016 to 31/12/ ,051 26,051 (26,051) 679, ,367 1,455 From 01/01/2015 to 31/12/ , ,050 (12,491)

43 ANNEX

44 Accounting Rules and Methods Name: METROPOLIS Annex to the balance sheet and to the profit and loss account for the financial year ended 31/12/2016, whose total before appropriation of earnings is 722,727 and to the profit and loss account for the financial year, presented in the form of a list, showing a net income of 1,455. The financial year covers a period of 12 months, from 01/01/2016 to 31/12/2016. The notes and tables below are an integral part of the annual accounts. These annual accounts were drawn up in accordance with the provisions of the French Commercial Code and ARC regulation The general accounting conventions were applied, adhering to the principle of prudence, in accordance with the following fundamental assumptions: The continuance of operations. The permanence of accounting methods from one financial year to the next. The independence of financial years. The general rules for establishing and presenting annual accounts were also observed. Tangible and intangible fixed assets Tangible and intangible fixed assets are valued at their acquisition cost for assets acquired for value, at their cost of production for the assets produced by the company and at their market value for assets acquired free of charge and by way of exchange. The cost of a capital asset is its purchase price including nonrecoverable customs duties and taxes after deducting rebates, trade rebates and cash discounts from all directly attributable costs incurred to put the asset in place and in operation according to its intended use. Transfer taxes, fees or commissions and deed fees related to the acquisition are attached to this cost of acquisition. All costs that are not part of the purchase price of the asset and which cannot be directly attached to the costs required to put the asset in place and in operation in accordance with its intended use are entered as expenses. Depreciation This is calculated on the basis of the expected duration of use, following the straightline or declining balance method. Concessions, patents and licences 3 years Fixtures and fittings of buildings 5 years Others 4 years

45 For property that is depreciated on a declining balance basis or subject to exceptional depreciation, the proportion of the share that exceeds the straightline depreciation is entered as an exceptional depreciation under liabilities on the balance sheet. Marketable securities Gross value is the acquisition cost (including transfer taxes, fees or commissions and deed fees related to the acquisition). When the inventory value is less than this value, the depreciation is the amount of the difference. At the end of the financial year, the association had 11, SABADELL RENDIMIENTO FI BASE at a historic cost of 73,880 and an asset value of 111,581. Accounts receivable Accounts receivable are valued at their face value. A provision for depreciation is made when the inventory value is lower than the book value. Extraordinary income and expenses The exceptional charges comprise an expense related to telephone bills invoiced but disputed and not settled at the end of the financial year. Miscellaneous information The unrecorded shortfall of expenses and surplus of funding at the end of the 2015 fiscal year ( 21,024.78) were settled at the end of the 2016 fiscal year.

46 Statement of fixed assets Table A Intangible fixed assets Formation and development expenses Other entries under intangible fixed assets TOTAL Tangible fixed assets Land Buildings on own land Buildings on others land General facilities, fixtures and fittings of buildings Plant, machinery and equipment General facilities, miscellaneous fixtures and fittings Transport equipment Office and IT equipment, furniture Returnable packaging and miscellaneous Tangible fixed assets in progress Advances and prepayments TOTAL Financial fixed assets Holdings valued on an equity basis Other holdings Other longterm securities Loans and other financial fixed assets TOTAL GENERAL TOTAL Gross value at start of financial year 12,369 12,369 1,216 51,069 52, ,954 Revaluation of the financial year Increase Acquisition credit transfers 9,311 9,311 9,311 Table B Reduction Gross value at end of Transfer Assignment financial year Formation and development expenses Other entries under intangible fixed assets TOTAL Land Buildings on own land Buildings on others land General facilities, fixtures and fittings of buildings Plant, machinery and equipment General facilities, miscellaneous fixtures and fittings Transport equipment Office and IT equipment, furniture Returnable packaging and miscellaneous Tangible fixed assets in progress Advances and prepayments TOTAL 12,369 12,369 1,216 60,380 61,596 Revaluation original value Holdings valued on an equity basis Other holdings Other longterm securities Loans and other financial fixed assets TOTAL GENERAL TOTAL ,265

47 Statement of depreciation Table A POSITION AND TRANSACTIONS FOR THE FINANCIAL YEAR DEPRECIABLE FIXED ASSETS Value at start of financial Increase Intangible fixed assets year Formation and development expenses Other intangible fixed assets Tangible fixed assets Land Buildings on own land Buildings on others land General facilities, fixtures and fittings of buildings Plant, machinery and equipment General facilities, miscellaneous fixtures and fittings Transport equipment Office and IT equipment, furniture Returnable packaging and miscellaneous TOTAL TOTAL GENERAL TOTAL 12,369 12,369 1,216 38,495 39,710 52,079 5,558 5,558 5,558 Reduction Value at end of financial year 12,369 12,369 1,216 44,052 45,268 57,637 Table B DEPRECIABLE FIXED ASSETS Intangible fixed assets Formation and development expenses (I) Other intangible fixed assets (II) TOTAL Tangible fixed assets Land Buildings on own land Buildings on others land General facilities, fixtures and fittings of buildings Plant, machinery and equipment General facilities, miscellaneous fixtures and fittings Transport equipment Office and IT equipment, furniture Returnable packaging and miscellaneous TOTAL Equity investment acquisition costs GENERAL TOTAL GENERAL TOTAL UNALLOCATED Column 1 Time differential Breakdown of provisions Provision Reversal Net Column 2 Declining mode Column 3 Exception al tax depreciati on GENERAL TOTAL UNALLOCATED Column 4 Time differential Column 5 Declinin g mode Column 6 Exceptio nal tax deprecia tion GENERAL TOTAL UNALLOCATED depreciation and amortization at the end of the fiscal year Table C TRANSACTIONS FOR EXPENSES SPREAD OVER SEVERAL FINANCIAL YEARS Expenses spread over several financial years Loan redemption premiums Net amount at start of financial year Increase Provision for depreciation for financial year Net amount at end of financial year

48 Statement of provisions and depreciation NATURE OF PROVISIONS Amount at start of financial year Increase in appropriations for the year Decreases at the end of the year Used Not used Amount at end of financial year Regulated Provisions for reconstitution of deposits Provisions for investments Provisions for price increases Special depreciation allowances Tax provisions for setting up abroad before 01/01/92 Tax provisions for setting up abroad after 01/01/92 Provision for startup loans Other regulated provisions TOTAL I Losses and expenses Provisions for litigation Provisions for customer warranties Provisions for losses on futures markets Provisions for penalties and fines Provisions for exchange losses Provisions for pensions and similar obligations Provisions for taxes Provisions for renewal of fixed assets Provisions for major repairs Provisions for tax and social security liabilities payable on holiday Other provisions for losses and expenses TOTAL II NATURE OF DEPRECIATION Amount at start of financial year Increase in appropriation s for the year Decreases at the end of the year Amount at end of financial year Depreciation Intangible fixed assets Tangible fixed assets Securities treated on an equity basis Holdings Financial fixed assets Inventory and work in progress Trade accounts Other provisions for depreciation TOTAL III GENERAL TOTAL (I + II + III) Of which appropriations and writebacks: operating financial extraordinary Securities treated on an equity basis: amount of depreciation

49 Statement of accounts receivable Receivable (a) Gross amount Due in up to 1 year Liquidity of assets Due in over 1 year From fixed assets Holding receivables Loans (1) (2) Other financial fixed assets From current assets Doubtful and disputed trade receivables Other trade receivables Receivables on securities lent Staff and related receivables Social security and other social organisations Income tax Value added tax Other taxes, levies and similar payments Miscellaneous Group and associated companies (2) Sundry debtors Prepaid expenses TOTAL (1) Amount of loans agreed during the financial year (1) Amount of repayments received during the financial year (2) Loans and advances granted to associated companies ,706 4, , ,706 4, ,

50 Statement of accounts payable PAYABLE (b) Gross amount Due in up to 1 year Degree of current liabilities Due in 15 years Due in over 5 years Convertible debenture loans (1) Other debenture loans (1) Bank borrowings and debts: (1) For up to 1 year at the outset For over 1 year at the outset Miscellaneous financial borrowings and debts (1) (2) Trade accounts payable Staff accounts payable Social security and other social organisations Payment on account of income tax on individuals Income tax Value added tax Guaranteed bonds Other taxes, levies and similar payments Amounts payable on fixed assets and related accounts Group and associated companies (2) Other debts (of which debts relating to stock repurchase agreements) Payables on securities borrowed Deferred income TOTAL (1) Borrowings agreed during the financial year (1) Borrowings repaid during the financial year (2) Borrowings and debts incurred with associated companies , ,335 10,625 55, , , , ,335 10,625 55, , ,040

51 2016 CONTRIBUTIONS IN KIND TO METROPOLIS Barcelona City Council provides five people: Secretary General 100% Project manager 100% Project manager 100% Project manager 100% Project manager 70% The total cost of this contribution is 240,000 Barcelona City Council also provides offices (covering a total area of 200 m 2 in Carrer d Avinyó 15, Barcelona) and pays the expenses of the head office of the Secretariat General. These expenses include: Approximate market price Rent 35,374 Water 130 Cleaning and maintenance 6,300 Telephone 2,660 Total 44,464 The Barcelona Metropolitan Area provides one person: Executive Director 100% 59,000 TOTAL ,464

52 Point/Punto 8 APPROVAL APROBACIÓN APPROBATION 8.2 Budget revision 2017 and budget execution up to 31/04/ Revisión presupuesto 2017 y ejecución presupuesto 2017 hasta el 31/04/ Révision Budget 2017 et exécution du budget 2017 jusqu au 31/04/2017

53 Revised budget 2017 & execution as at 30th April 2017 Revised budget 2017 execution as at 30th April