ANNUAL REPORT - HSE

4.8 Notes to
the financial
statements
4.8.1 Balance sheet
General
Information on the basis for the preparation of the
balance sheet and on specific accounting policies and
methods selected and applied to the company’s significant
transactions and other business events are
presented in notes pertaining to individual assets and
liabilities.
The company has no additional information that does
not have to be disclosed in the balance sheet but is
deemed significant for a true and fair presentation of
the company’s operations.
In accordance with HESS’s contract of members, a capital
increase was made by means of an in-kind contribution
on 1 July 2008 (transfer of the project of joint venture
for the construction of HPPs on the lower Sava River).
The value of the in-kind contribution is shown in the table
below. In the balance sheet of the company HSE, the
assets decreased by € 132,247,935, with liabilities decreasing
by € 71,593,119. The difference of € 60,654,816
is the value of HSE’s long-term investment in the company
HESS. The transfer of the in-kind contribution did
not affect the company’s income statement.
Value of in-kind contribution
in €
ASSETS (132,247,935)
A. LONG-TERM ASSETS (121,732,611)
II. Property, plant and equipment (121,732,611)
1. Land and buildings (32,586,595)
b) Buildings (32,586,595)
2. Production plant and equipment (32,135,455)
3. Other plant and equipment (106,495)
4. Property, plant and equipment being acquired (56,904,066)
a) Property, plant and equipment in the course of construction (48,728,156)
b) Advances for acquisition of property, plant and equipment (8,175,910)
B. CURRENT ASSETS (10,515,324)
III. Short-term investments (8,250,000)
2. Short-term loans (8,250,000)
b) Short-term loans to others (8,250,000)
IV. Short-term operating receivables (2,263,067)
3. Short-term operating receivables from others (2,263,067)
V. Cash (2,257)
LIABILITIES (71,593,119)
C. LONG-TERM LIABILITIES (59,545,423)
II. Long-term operating liabilities (59,545,423)
1. Long-term operating liabilities to group companies (39,960,823)
2. Long-term operating trade liabilities (1,269,223)
5. Other long-term operating liabilities (18,315,377)
III. Deferred tax liabilities 0
D. SHORT-TERM LIABILITIES (10,862,278)
III. Short-term operating liabilities (10,862,278)
1. Short-term operating liabilities to group companies (364,283)
2. Short-term operating trade liabilities (10,497,995)
E. SHORT-TERM ACCRUED COSTS AND DEFERRED REVENUE (1,185,418)
ANNUAL REPORT HSE | FINANCIAL REPORT OF THE COMPANY HSE
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