ANNUAL REPORT 2008 - Gorenje Group

166
2008
Note 24 – Other current assets TEUR 19,533
in TEUR 2008 2007
Advance payments for services 3,644 2,398
Other current assets 13,310 8,778
Current tax receivable 708 0
Short-term deferred costs and expenses 1,871 1,647
Total 19,533 12,823
Advance payments for services include predominantly advances for coal transport in the amount
of TEUR 2,969 (2007: TEUR 1,207).
Other current assets include current receivables for input tax paid in the Republic of Slovenia in the
amount of TEUR 5,707 (2007: TEUR 5,262), VAT receivables from foreign countries in the amount
of TEUR 1,749 TEUR (2007: TEUR 744), receivables not yet charged in the amount of TEUR 2,138
and referring to unfinished projects within the Indop programme (2007: TEUR 1,450).
Short-term deferred costs include costs of services accounted for, but not yet provided.
Note 25 – Cash and cash equivalents TEUR 74
in TEUR 2008 2007
Cash in hand and readily liquid securities 3 2
Bank balances 71 29
Total 74 31
Note 26 – Equity TEUR 312,566
In accordance with the resolution of the 10th Shareholders’ Meeting of Gorenje, d.d. on 12 December
2006 and the Court Order of 7 November 2007 on the change in share capital, the share capital
was increased by 1,830,000 ordinary, freely transferable, no par value shares. At 31 December
2008, the share capital of Gorenje, d.d. amounted to EUR 58,546,152.56 (at 31 December 2007:
EUR 58,546,152.56) and was divided into 14,030,000 ordinary, freely transferable, no par value
shares.
Capital surplus (share premium) in the amount of TEUR 140,624 includes paid-in surplus in excess
of par value of shares in the amount of TEUR 47,264, surplus in excess of book value of disposed
own shares in the amount of TEUR 15,313 (1,070,000 own shares were disposed in 2008 in order
to purchase the Atag company), general equity revaluation adjustment in the amount of TEUR
78,048, and other effects of the transition to IFRS.
Legal and statutory reserves in the amount of TEUR 21,697 include legal reserves in the amount of
TEUR 12,895 (31 December 2007: TEUR 12,895), reserves for own shares in the amount of TEUR
3,170 (31 December 2007: TEUR 27,693), and statutory reserves in the amount of TEUR 5,632 (31
December 2007: TEUR 4,446).
Retained earnings in the amount of TEUR 94,059 comprise - pursuant to the Companies Act – other
revenue reserves amounting to TEUR 58,996 (2007: TEUR 49,101) and formed on the basis of
resolutions adopted by the Company’s Management Board and Supervisory Board in connection
with the distribution of the profit for the period, as well as resolutions adopted by the Shareholders’
Meeting in connection with the use of the accumulated profit, and the accumulated profit established
at TEUR 35,063.
Fair value reserve in the amount of TEUR 810 results from revaluation of available-for-sale investments
to their fair value in the amount of TEUR – 6,171 and revaluation of cash flow hedges in the
amount of TEUR -8,660 and the creation of fair value reserve relating to land in the amount of
TEUR 7,454. The change in the amount of TEUR - 200 refers to the creation of deferred tax liabilities
(available-for-sale investments) and to revaluation of land.