hse group

3.7 NOTES TO FINANCIAL STATEMENTS
General
Transactions expressed in foreign currencies
are translated into domestic
currency on the date of their accrual at
the mean exchange rate of the Bank of
Slovenia on the respective date.
The financial statements have been prepared
in Slovenian tolars (SIT), rounded
off to one thousand units.
3.7.1 Balance sheet
General
The information about the basis for the
preparation of the balance sheet and
about special accounting policies, selected
and used in important business operations
and other transactions of the
Company are presented in the disclosure
of individual important assets and
liabilities.
industrial property rights among intangible
fixed assets.
Intangible fixed assets purchased abroad
are not revalued by the changes in
exchange rates in which they had been
purchased.
The Company applies the straight-line
depreciation. Intangible fixed assets are
amortised individually. The Company
applies the amortisation rates defined on
the basis of the foreseen useful life for
individual kind of assets. The amortisation
rates do not exceed the rates at
which amortisation expense is tax
deductible.
In 2002 the Company did not impair any
intangible fixed assets. The presented
book value of individual assets complies
with their fair value.
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Due to the introduction and application of
the new Slovenian Accounting Standards
(SAS), the balance sheets for the year
2002 and for the year 2001 are not fully
comparable.
In accordance with the interpretation 1 to
the SAS 24 issued by the Slovenian
Institute of Auditors the data for the previous
accounting period have not been
translated during the preparation of the
financial statements 2002 in accordance
with the new Slovenian Accounting
Standards but reasonably recorded in
corresponding items in terms of materiality.
Intangible fixed assets
SIT 325,079,000
0.17% of assets
The Company presents long-term
deferred operating costs and long-term
Movements in intangible fixed assets in 2002
in SIT 000
Long-term Intangible fixed assets
industrial under construction
property rights or in manufacture Total
COST OF PURCHASE
Balance at the beginning of the year 0 0 0
Acquisitions 40,834 321,719 362,553
Disposals 0 (36,431) (36,431)
Revaluation 0 0 0
Balance at the end of the year 40,834 285,288 326,122
ADJUSTMENT FOR VALUE
Balance at the beginning of the year 0 0
Acquisitions 0 0
Disposals 0 0
Amortisation 1,043 1,043
Revaluation 0 0
Balance at the end of the year 1,043 1,043
Net carrying amount at the beginning of the year 0 0 0
Net carrying amount at the end of the year 39,791 285,288 325,079