Annual Report 2009/2010 Geschäftsbericht 2009/2010 ... - biolitec AG

112 Annual Financial Statement Konzern-Jahresabschluss
3.13. Retrospective adjustment due to error correction pursuant to IAS 8
Inventories as well as produced assets were not assessed pursuant to IAS 2 in the previous periods.
Due to the correction of this error the figures of the consolidated annual financial statement of 30 June
2009 as well as the opening balance of this financial statement of 1 July 2008 were adjusted as follows.
The adjustment of the opening balance affected the following assets:
Adjustment of
balance sheet item
and balance sheet
totals
July 1, 2008
Before
adjustment
Amount of
adjustment
Reason of
adjustment
July 1, 2008
After
adjustment
Euro
Euro
Euro
Property, plant and equipment
7,950,181 (110,000) 1. 7,840,181
Machinery and technical
equipment
2,580,469 (110,000) 1. 2,470,469
Deferred taxes 2,551,834 226,734 3. 2,778,568
Total non-current assets 19,220,845 116,734 5. 19,337,579
Inventories 24,066,539 (632,659) 2. 23,433,880
Finished goods and goods
for resale
17,568,333 (632,659) 2. 16,935,674
Current assets 47,428,213 (632,659) 2. 46,795,554
Total assets 66,649,058 (515,925) 5. 66,133,133
Retained earnings / Accumulated
income
5,518,502 (515,925) 4. 5,002,577
Equity attributable to
shareholders of the parent
entity
52,292,358 (515,925) 4. 51,776,433
Total shareholders‘ equity 52,501,410 (515,925) 4. 51,985,485
Total liabilities and shareholders‘
equity
66,649,058 (515,925) 5. 66,133,133
The adjustment was done due to the following discoveries and circumstances:
1. Within technical equipment and machines the unrealized profit on previously activated capitalized
machines has been adjusted. The correction was done at the expense of the retained earnings.
2. The stock-in-trade for previously activated finished goods applied to the unrealized profit was corrected
to the amount of KEUR -2,290. They comprise of KEUR -1,246 for finished goods recognized as
stock-in-trade and KEUR -1,044 unrealized profit for internally generated assets which previously had
been deducted and neutralized within the stock-in-trade. A correction due to an evaluation pursuant to
IAS 2 of the inventories on 1 July 2008 and which had been evaluated as partial costs (KEUR 1,657) had
an opposing effect. Overall corrections total to KEUR -632 stock-in-trade.
3. The correction of deferred taxes results from the overall corrections of the stock-in-trades and fixed
assets. The passive latencies arise from re-evaluations of CeramOptec GmbH’s stock-in-trades pursuant
to IAS 2. They were offset against biolitec’s active latencies from debit carryover due to the interlocking
relationship between CeramOptec and biolitec. Therefore they have been recognized as “Deferred Taxes
– Assets” after balancing with the active latencies from the consolidation of equity.
4. The correction of stock-in-trade, fixed assets and deferred taxes effect the profit/loss carried forward
and therefore the equity to the amount of KEUR -516.