Matth. Hohner AG

Notes to the Consolidated Financial Statements for Business Year 2010/2011
Non-current items
Liabilities to affiliated companies
Liabilities to banks
At 2.64 % (prior year: 2.08 %)
interest-bearing, collateralized loan
for TUSD 1,054 (prior year: TUSD 1,122)
Effective interest
rate in %
6.0
1-month-LIBOR
+ 1.85 (prior
year: + 1.85)
Loan for TEUR 1,278 4.90
Loan for TEUR 1,725 4.95
Liabilities to affiliated companies
Maturity March
31, 2011
2016
TEUR 1,278 p.a.
(annuity)
March
31, 2010
TEUR TEUR
4,506 5,477
2013 742 832
2011
TEUR 128 p.a.
2014 TEUR 15
per month
(annuity)
There is an annual annuity of TEUR 1,278 for the loan of TEUR 4,506 (prior year: TEUR 5,477).
For further details we refer to the notes on related parties and associated companies.
Loan bearing interest of 2.64 % for TUSD 1,054
The loan is collateralized with land charges and is to be repaid until April 2013.
Loan for TEUR 1,278
The loan is collateralized with land charges.
Loan for TEUR 1,725
The loan is collateralized with land charges.
0 128
414 578
1,156 1,538
11. Non-current provisions
Provisions for pensions
Within the Group there is a defined contribution plan for the employees of Hohner Inc., USA, and defined
benefit plans for the employees of Hohner Musikinstrumente GmbH & Co. KG, SONOR GmbH & Co KG as
well as Hohner Inc. Hohner Musikinstrumente GmbH & Co. KG has defined benefit obligations on the basis of
individual commitments and a company pension plan. At SONOR GmbH & Co. KG and Hohner Inc. there are
individual commitments.
An expense of TEUR 18 was recognized for the defined contribution plan of our subsidiary in the USA
(prior year: TEUR 26). For the year to come an expense of TEUR 30 is expected.
In Germany employees of the group receive public social insurance benefits, which are treated as defined
contribution plans according to IAS 19.46 because after payment of the contribution there is no further
obligation for the group. Current payments of contribution were accounted for social expenditures. In the
financial year personnel expenditures contain contributions to pension plans according to IAS 19.46 with an
amount of
TEUR 229 (prior year: TEUR 228), for members of the management board no contributions were paid.
The provisions for the defined benefit plans are measured on the basis of the following parameters:
March
31, 2011
March
31, 2010
% %
Interest rates 5.14 5.00
Estimated rate of salary increases 0.00 0.00
Estimated rate of pension increases 1.50 1.50
The following tables present the components of the post-employment benefits from the defined benefit plan
recorded in the consolidated income statement and the amounts carried in the consolidated balance sheet for
the respective plans:
8 24 216 260 224
284
2010/2011 2009/2010 2010/2011 2009/2010 2010/2011 2009/2010
Current service cost in the reporting year
Interest cost from discounting
earned benefits
Notes to the CoNsolidated FiNaNCial statemeNts Notes to the CoNsolidated FiNaNCial statemeNts
TEUR
TEUR
Total expense
TEUR
97