Consolidated Financial Statements - L. Possehl & Co. mbH
Consolidated Financial Statements - L. Possehl & Co. mbH
Consolidated Financial Statements - L. Possehl & Co. mbH
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14. Property, plant and equipment<br />
in €T 12/31/2005 12/31/2004<br />
1. Land, equivalent titles and<br />
buildings (including on leased land) 40,564 35,693<br />
2. Production plant and machinery 37,997 33,358<br />
3. Other plant, factory<br />
and offi ce equipment 9,667 7,611<br />
4. Prepayments and<br />
construction in progress 1,985 1,239<br />
90,213 77,901<br />
The production costs include appropriate shares of required material<br />
and production overhead as well as production plant related depreciation.<br />
Low value assets are completely written off in the year of purchase<br />
and recorded in the fi xed asset analysis as disposals.<br />
The linear depreciation of the purchase/production costs – reduced by<br />
grants, if necessary – is mainly based on the following assumed useful<br />
economic life:<br />
Buildings 20 – 50 years<br />
Production plant and machinery 5 – 10 years<br />
Tools 1 – 3 years<br />
Offi ce furniture 10 years<br />
Offi ce equipment 3 – 5 years<br />
Transportation vehicles 3 – 5 years<br />
In order to take into account the highly fl uctuating utilization rates<br />
of the tools used in the Electronics division, a method combining<br />
depreciation by usage with a maximum term of depreciation of four<br />
years is applied.<br />
15. <strong>Financial</strong> assets<br />
in €T 12/31/2005 12/31/2004<br />
1. Shares of affi liated companies 8,745 8,732<br />
2. Loans to affi liated companies 70 0<br />
3. Investments in associated companies 14,005 13,044<br />
4. Other investments<br />
5. Loans to companies with<br />
which the company is linked<br />
621 2,498<br />
by participation 0 4,431<br />
6. Long-term investments 32,519 36,291<br />
7. Other long-term loans 2,239 2,653<br />
58,199 67,649<br />
The list of shareholdings has been fi led and deposited with the Local<br />
<strong>Co</strong>urt of Lübeck under No. HRB 9.<br />
The following Germany-based subsidiaries made use of the exemption<br />
provision of Article 264 Para. 3 HGB during the reporting year 2005:<br />
Heimerle + Meule G<strong>mbH</strong>, Pforzheim<br />
Harburg-Freudenberger Maschinenbau G<strong>mbH</strong>, Hamburg<br />
<strong>Possehl</strong> Erzkontor G<strong>mbH</strong>, Lübeck<br />
<strong>Possehl</strong> Beteiligungsverwaltung G<strong>mbH</strong>, Lübeck<br />
The associated participations valued at-equity are carried with their<br />
prorated earnings, taking into account profi t distributions. The changes<br />
are reported in the analysis of fi xed assets as additions and disposals,<br />
respectively.<br />
The not fully consolidated shares in subsidiaries and the other participations<br />
are carried at historical cost – if applicable, less non-scheduled<br />
depreciation. Interest-free or low-interest bearing loans are reported at<br />
cash value. Personnel loans are reported at their nominal value.<br />
The non-current marketable securities are carried at cost.<br />
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