Annual Report 2010 - ProCredit Bank

78
Annual Report 2010
19. Property and equipment
The movement in intangible assets for the years 2009 and 2008 is
presented in table below:
Building Leasehold IT and other Furniture Total
improvements equipment and fixtures
Cost
Balance, 1 January 2009 688,685 341,944 1,254,514 206,013 2,491,156
Additions 15,561 16,724 104,714 5,622 142,621
Disposals – (13,727) (49,749) (4,154) (67,630)
Balance, 31 December 2009 704,246 344,941 1,309,479 207,481 2,566,147
Accumulated Depreciation
Balance, 1 January 2009 – 122,313 588,422 77,332 788,067
Disposals – (7,956) (43,808) (2,544) (54,309)
Charge for the year 17,427 54,785 245,701 30,898 348,811
Balance, 31 December 2009 17,427 169,141 790,315 105,686 1,082,569
Net Book Value 31 December 2009 686,819 175,800 519,164 101,795 1,483,578
Cost
Balance, 1 January 2010 704,246 344,941 1,309,479 207,481 2,566,147
Additions 23,761 3,534 99,306 1,389 127,990
Disposals – (52,110) (61,488) (12,231) (125,829)
Balance, 31 December 2010 728,007 296,365 1,347,297 196,639 2,568,308
Accumulated Depreciation
Balance, 1 January 2010 17,427 169,141 790,315 105,686 1,082,569
Disposals – (15,718) (57,292) (8,385) (81,395)
Charge for the year 17,626 46,617 167,519 18,925 250,687
Balance, 31 December 2010 35,053 200,040 900,542 116,226 1,251,861
Net Book Value 31 December 2010 692,954 96,325 446,755 80,413 1,316,447
20. Deferred income tax assets
Deferred income taxes are calculated on all temporary differences
under the liability method using an effective tax rate of 10%
(2009: 10%).
Deferred tax assets are attributable to the following items:
At 31 December
2010 2009
Tax credit carried forward
(expiring in the period over 5 years) 223,210 246,449
Accelerated tax depreciation 28,279 24,442
As of 31 December 251,489 270,891
The movement in deferred income tax account is as follows:
At 31 December
2010 2009
As of 1 January 270,891 288,655
Income statement charge 22,283 27,905
Fair value measurement of
available for sale securities (282) (488)
Deferred tax on tax credit (41,403) (45,180)
As of 31 December 251,489 270,891
The deferred tax charge in the consolidated income statement comprises
the following temporary differences:
At 31 December
2010 2009 restated
Tax credit on investment
in property and equipment 17,880 20,562
Accelerated tax depreciation 3,837 7,343
As of 31 December 21,717 27,905
All deferred tax assets are to be recovered after more than 12
months.
21. Current Tax asset
Current Tax Assets in amount of RSD 1,855 (2009: RSD 0) is current
prepaid of income tax, which can be used in 2011 in payment of
monthly advance for income tax.