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COMROD COMMUNICATION <strong>ASA</strong> – LISTING ON THE OSLO STOCK EXCHANGE SA LERC Year ending 31.12.2005 DETAILS OF OTHER PROVISIONS FOR DEPRECIATION Type Amount at start of year Increase Decrease Amount at end of year Provision for Lerc International receivable 320,142 320,142 STATEMENT OF DUE DATES FOR CREDITS AND DEBTS AT THE END OF THE YEAR Structure A Statement of receivables Gross amount Up to one year Over one year Fixed assets Loans 250000 250000 Other long-term investment 43718 43178 Current assets Other client receivables 1628978 1628978 Personnel and accounts receivable 2393 2393 State and Corporation tax 30000 30000 other public bodies Value-added tax 44467 44467 Sundry 42729 42729 Sundry debtors 2643270 2643270 Prepayments 49531 49531 TOTALS 4735086 4485086 250000 Structure B Loans and debts to credit establish Debt statement maximum of one year from origin ments over one year from origin Sundry loans and financial debts Trade creditors and accounts payable Personnel and accounts payable Social Security and other social welfare bodies State and other public bodies Valueadded tax Other taxes, duties and similar Gross amount Up to one year Between one and five years 379835 379835 428627 124471 304155 257524 132524 125000 1447033 1447033 303504 303504 226189 226189 189622 189622 139596 139596 Debts on fixed assets 15202 15202 and accounts payable Group and associates 804898 304898 500000 Other debts (including 74650 74650 debts relating to repo operations) TOTALS 4266680 3337524 929155 151
COMROD COMMUNICATION <strong>ASA</strong> – LISTING ON THE OSLO STOCK EXCHANGE APPENDIX 9: FIDULERC SA. AND LERC SA. - TRANSITION FROM FGAAP TO IFRS IN THE INCOME STATEMENT The following table shows the effects of the transitions from FGAAP (French Generally Accepted Accounting Principles) to IFRS for Fidulerc SA and Lerc SA for the income statement for the period ended 31.12.2005. The most important effects of the transition are described below. Please refer to the corresponding notes. 2005 2005 2005 2005 2005 01.01.-31.12. 01.01.-31.12. 01.01.-31.12. 01.01.-31.12. 01.01.-31.12 Notes FIDULERC SA FGAAP LERC SA FGAAP IFRS adjustments Fidulerc/Lerc IFRS EUR Fidulerc/Lerc IFRS NOK Operating revenues 0 12 690 0 12 690 101 680 Operating expenses Cost of materials 4 600 0 4 600 36 858 Payroll and social security expenses 1 1 852 -6 1 846 14 794 Depreciation 2 407 -63 344 2 753 Other operating expenses 3 1 4 477 25 4 503 36 079 Total operating expenses 1 11 336 -44 11 293 90 484 Operating profit/loss -1 1 354 44 1 397 11 195 Financial income/expenses Interest received 21 17 0 38 302 Other financial income 3 63 0 66 529 Other interest paid -23 -116 0 -139 -1 110 Other financial expenses -77 0 -77 -616 Net financial income/expenses 1 -113 0 -112 -895 Profit before tax 0 1 241 44 1 285 10 300 Taxes 4 0 15 447 462 3 700 Profit/loss for the year 0 1 226 -402 824 6 600 IFRS adjustment comments: 1. “Payroll and social security expenses”: TEUR - 6 is decrease in employee benefits liability that has been recognized in 2005 according to IFRS. According to French accounting standards provision for the employee benefits liability is not compulsory and has not been recognized by Lerc. Under IFRS a provision is mandatory and the change in liability is recognized as a payroll expense. 2. “Depreciation”: TEUR – 63 is reversal of additional depreciation made for tax purposes. French accounting standards permit this additional depreciation in the income statement. Under IFRS this additional depreciation is not recognised. 3. “Other operating expenses”: TEUR 25 is government grants related to fixed asset which is added back to the income statement. Under IFRS these grants is accounted for as a reduction of cost of fixed assets. 4. “Tax”: TEUR 447. Income tax for 2005 (33.33%) is calculated to EUR 432. Tax related to adjustment 1 – 3 above amount to 15. The tax recognized in the FGAAP statement is a standard tax applied whether the company has taxable income or not. Under IFRS temporary differences, 152
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