annUaL rEporT 2008 - Česká rafinérská, as

ČESKÁ RAFINÉRSKÁ, a.s.
NOTES TO FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2008
8. RECEIVABLES
(CZK’000) 31 December 2008 31 December 2007
Short-term trade receivables 737,776 1,090,078
- receivables overdue more than 360 days 85,538 262,083
State tax receivables 88,766 26,303
Advances paid 12,643 21,169
Other receivables 4,534,625 5,264,250
Total receivables 5,373,810 6,401,800
Provision for doubtful receivables (85,538) (466,938)
Net receivables 5,288,272 5,934,862
All trade receivables more than 90 days overdue, not covered by a provision, are secured
by deposits, bills of exchange or insurance.
Other receivables include mainly a receivable from the Processors on grounds of excise
tax.
The Company has receivables from related parties (Note 21).
9. PROVISIONS
Provisions reflect a temporary diminution in the value of assets (Notes 4, 5, 7 and 8).
Changes in the provision accounts were as follows (CZK’000):
Provisions Inventories Receivables
- tax allowed
Receivables
- other
Tangible and
intangible
fixed assets
Balance at 1 January 2007 232,011 87,502 414,287 18,726 752,526
Charge for the year 42,399 352,235 - 11,273 405,907
Written off during the year (9,453) - (387,086) (18,726) (415,265)
Balance at 31 December 2007 264,957 439,737 27,201 11,273 743,168
Charge for the year 238,500 - 1 8,480 246,981
Written off during the year ( 945) (381,351) (50) (11,273) (393,619)
Balance at 31 December 2008 502,512 58,386 27,152 8,480 596,530
Total
ANNUAL REPORT ČESKÁ RAFINÉRSKÁ, a.s., 2008 39