DARS_porocilo 2007 ANG.indd

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Long-term Operating Liabilities Arising from Municipality-owned Assets under Management These liabilities are recorded in the amount of co-financing of motorway construction by local communities and public utilities. Short-term Financial Liabilities to Banks Short-term financial liabilities to banks arising from borrowings for the acquisition of property, plant and equipment under management comprise the short-term portion of long-term financial liabilities maturing in the following year. Other short-term financial liabilities to banks comprise interest accrued by 31 December 2007 on borrowings and bonds issued to finance motorway construction and reconstruction. Short-term Trade Payables Short-term trade payables comprise trade payables to domestic and foreign contractors of construction works, as well as purchase price and compensation payable to third persons for land acquired. Short-term trade payables are initially recognised at amounts indicated in relevant documents, provided that creditors demand their settlement. 69 ANNUAL REPORT DARS d.d. 2007 FINANCIAL REPORT
Financial Statements of DARS d.d. The Company has prepared the following financial statements for tax and statistical purposes: • Consolidated Balance Sheet, • Income Statement of DARS d.d., • Consolidated Cash Flow Statement, • Statement of Changes in Equity, • Statement of Accumulated Profit and Proposed Appropriation Pursuant to the Motorway Company of the Republic of Slovenia Act (ZDARS) and the Accountancy Act, the Company has to subdivide the balance sheet for the needs of the internal users into: • a balance sheet showing assets and liabilities owned by the Company, and • a balance sheet showing assets and liabilities of the Republic of Slovenia under the management of DARS d.d. The company-owned assets comprise assets, receivables, investments and cash required by the Company for motorway operation and maintenance. The state-owned assets under management of the Company comprise the following property, plant and equipment under management: motorways constructed or under construction, receivable, investments, and cash required by the Company for construction. The owner of these assets, the Republic of Slovenia, transferred the assets to the Company for management, but without transferring the right of ownership. The Company does not prepare the income statement for the state-owned assets under management of the Company, because any “revenue” generated under the Agreement on the Performance of Contracts represents an additional source of funding for motorway construction, and any “expenses” incurred under the respective agreement increase the cost of motorways. 70 ANNUAL REPORT DARS d.d. 2007 FINANCIAL REPORT
Page 1 and 2:
A N N U A L R E P O R T 2 0 0 7
Page 3 and 4:
Contents 6 9 10 11 11 12 13 13 13 1
Page 5 and 6:
66 66 67 67 68 69 69 69 70 71 73 74
Page 7 and 8:
LETTER OF THE MANAGEMENT BOARD A Ye
Page 9 and 10:
8 LETNO ANNUAL PORO»ILO REPORT DAR
Page 11 and 12:
Financial Highlights 2007 2006 Shar
Page 13 and 14:
Organisation The organisation of th
Page 15 and 16:
Management Board As laid down in th
Page 17 and 18:
16 LETNO ANNUAL PORO»ILO REPORT DA
Page 19 and 20: Mission, Vision, Strategic Goals, a
Page 21 and 22: Key Business Events in 2007 • In
Page 23 and 24: Analysis of Business Performance To
Page 25 and 26: Completed Construction and Reconstr
Page 27 and 28: Revenue of DARS d.d. 2007 Revenue T
Page 29 and 30: Shares of individual types of expen
Page 31 and 32: Business Activities of the Company
Page 33 and 34: International Cooperation Departmen
Page 35 and 36: Finance and Marketing Division Fina
Page 37 and 38: Toll Collection Division Toll colle
Page 39 and 40: The activities carried out in the a
Page 41 and 42: Within the scope of rehabilitation
Page 43 and 44: A new 48-fibre optical cable was in
Page 45 and 46: Owing to the exceptional increase i
Page 47 and 48: Environmental Management Environmen
Page 49 and 50: Staff Recruitments and Departures I
Page 51 and 52: 50 ANNUAL REPORT DARS d.d. 2007 FIN
Page 53 and 54: Notes to the Financial Statements T
Page 55 and 56: Accounting Policies The financial s
Page 57 and 58: Depreciation / Amortisation The car
Page 59 and 60: Short-term investments In accordanc
Page 61 and 62: Short-term Operating Liabilities Sh
Page 63 and 64: Expenses Expenses are recognised if
Page 65 and 66: Valutation Method Applied to the St
Page 67 and 68: Short-term Investments in other Ent
Page 69: Long-term Operating Liabilities Ari
Page 73 and 74: in EUR 31 Dec 2007 31 Dec 2006 (wit
Page 75 and 76: Consolidated cash flow statement fo
Page 77 and 78: Statement of changes in equity in t
Page 79 and 80: Notes to the Financial Statemants N
Page 81 and 82: Intangible assets Intangible assets
Page 83 and 84: Pursuant to the Concession Agreemen
Page 85 and 86: Short-term operating receivables in
Page 87 and 88: Equity The movement in equity is sh
Page 89 and 90: Short-term operating liabilities in
Page 91 and 92: Notes to the balance sheet of state
Page 93 and 94: Property, plant and equipment and i
Page 95 and 96: Off balance sheet items Off balance
Page 97 and 98: a) Borrowings from the Consortium o
Page 99 and 100: h) Borrowings from Kreditanstalt f
Page 101 and 102: Long-term liabilities from motorway
Page 103 and 104: Short-term trade liabilities in EUR
Page 105 and 106: Additional disclosures in the incom
Page 107 and 108: Costs of materials and services in
Page 109 and 110: The remunerations of members of the
Page 111 and 112: Income tax Income tax is levied und
Page 113 and 114: Events after the Balance Sheet Date
Page 115 and 116: 115 ANNUAL REPORT DARS d.d. 2007 FI
Page 117 and 118: 117 ANNUAL REPORT DARS d.d. 2007 AU
Page 119 and 120: 119 LETNO PORO»ILO DARS d.d. 2007
Page 121 and 122:
121 ANNUAL REPORT DARS d.d. 2007 AU
Page 123 and 124:
The Company does not implement the
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