Financials - Deutsche EuroShop

8. OThER lIaBIlITIES
Other liabilities are recognised at amortised cost.
9. CaSh aND CaSh EquIvalENTS
Cash and cash equivalents include cash and bank balances (terms of up to three months) at their principal amounts.
DEFERRED TaxES
In accordance with IAS 12, deferred taxes are recognised for all differences between the tax accounts and the IFRS balance sheet, using the currently
enacted tax rate. Currently, deferred taxes are primarily formed on the differences between the IFRS carrying amounts of the properties
and their carrying amounts for tax purposes. A uniform corporation tax rate of 15% plus the solidarity surcharge of 5.5% was used for German
companies, and a rate of 16.45% for trade tax. The respective local tax rates were applied for foreign companies. In accordance with IAS 12.74,
deferred tax assets on existing loss carryforwards are offset against deferred tax liabilities.
OThER pROvISIONS
Under IFRS, other provisions may only be recognised if a present obligation exists towards a third party and payment is more likely than not.
Non-current provisions are discounted.
notes to the Consolidated
balanCe sheet – assets
1. INTaNGIBlE aSSETS
Concessions, industrial and similar rights
and licences in such rights and assets
in € thousand
2011 2010
Costs as at 1 January 62 48
Additions 2 14
as at 31 December 64 62
Depreciation as at 1 January -33 -24
Additions -11 -9
as at 31 December -44 -33
Carrying amount at 1 January 29 24
Carrying amount at 31 December 20 29
This item consists mainly of software licences.
ConSoLIDAteD FInAnCIAL StAteMentS notes to the consolidated balance sheet – assets
Des Annual Report 2011 41