hse group

Short-term operating liabilities to the HSE Group enterprises as of 31 December 2002
in SIT 000
Dravske elektrarne Maribor d.o.o. 2,311,926
Savske elektrarne Ljubljana d.o.o. 264,507
Soπke elektrarne Nova Gorica d.o.o. 316,157
Termoelektrarna Brestanica d.o.o. 191,743
Termoelektrarna ©oπtanj d.o.o. 2,670,934
Premogovnik Velenje d.o.o. 2,478,067
HSE Invest d.o.o. 600
At the end of 2002 the Company presented
short-term liabilities to the HSE
Group enterprises amounting to SIT
8,233,934,000. The majority of these
amounts referred to liabilities for the
purchased electricity, coal and its processing
into electric and thermal energy.
Liabilities of the Company are settled
in the terms agreed.
Accrued costs and deferred revenues
SIT 344,333,000 0.18% of liabilities
Accrued costs and deferred revenues
include short-term accrued expenses
and short-term deferred revenues.
Short-term deferred expenses occur on
the basis of the uniform burdening of the
activity or profit or loss by expected costs
that have not appeared yet.
Short-term deferred revenues occur if
the services have not been provided
yet, but already charged and paid.
Accrued costs include liabilities for the
payment of taxes for cross-border trading,
charged by the Italian business
partner GRTN. The invoices have been
rejected since the legal basis will have
to be provided first, but the Company
is well aware of its obligations.
Short-term deferred revenues include
the charged tender documentation for
the construction of the HPP Boπtanj.
Since this is an investment in progress,
the costs are not presented in
the profit/loss yet, and at present the
revenues referring to this investment
are deferred.
3.7.2 Income statement
General
The information about the basis for the
preparation of the income statement
and about special accounting policies,
selected and applied in important business
operations and other transactions,
are presented in disclosure of individual
important revenues and expenses.
The income statement has been prepared
in accordance with the version I
in SAS 25.
In accordance with the interpretation 1 to
the SAS 25 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 according to
the new Slovenian Accounting Standards
but reasonably recorded in corresponding
items of revenues and expenses
and profit/loss of the statement currently
valid. Thereby the Company took into
account prudence and the profits/losses
remained unchanged.
In accordance with the explanation 2 to
the SAS 25 issued by the Slovenian
Institute of Auditors expenses or liabilities
for the corporate income tax are
ascertained from the joint base (from
ordinary and extraordinary activities) in
accordance with the provisions, tax on
profit from ordinary and extraordinary
activities is not presented separately in
the income statement, but it is presented
as an accumulated item 19 of the income
statement.
Revenues
SIT 91,871,498,000
Revenues are recognised if during the
accounting period the increase in economic
benefits is related to the increase
of asset or to the decrease of
liability and if the relevant increase
can be measured without fail.
Revenues are recognised when no
significant uncertainty as to their collectability
exists.
Operating revenues
SIT 91,457,765,000 99.5% of revenues
Revenues from the sale of products,
merchandise and materials are measured
on the basis of selling prices indicated
in invoices or other documents,
decreased by discounts that have been
approved during the sale or later, also
due to earlier payment. They are recognised
on calculation, irrespective of
receipts they are related to.
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