annUaL rEporT 2008 - Česká rafinérská, as

ČESKÁ RAFINÉRSKÁ, a.s.
NOTES TO FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2008
12. EQUITY
Share capital of the Company comprises 934,824 registered shares fully subscribed and
paid for, with a nominal value of CZK 10 thousand. The shareholder structure is described
in Note 1.
The net profit for 2006 totalling CZK 267,836 thousand was approved and allocated by
the General Meeting of Shareholders held on 27 April 2007.
The net profit for 2007 totalling CZK 386,864 thousand was approved and allocated by
the General Meeting of Shareholders held on 30 April 2008.
13. RESERVES
The movements in the reserve accounts were as follows (CZK’000):
Reserves Tax allowed Other
Balance as at 1 January 2007 444,325 76,313
Change for the year 196,419 173,666
Used in the year (407,731) (69,746)
Balance as at 31 December 2007 233,013 180,233
Change in the year 92,638 175,216
Used in the year - ( 9,236)
Balance as at 31 December 2008 325,651 346,213
The tax allowed reserve for the purpose of repairs of tangible fixed assets was created in
2008 and 2007.
Other reserves represented mainly reserves for the purpose of repairs of tangible fixed
assets created beyond the terms of the Act on Reserves in 2008 and 2007.
14. LIABILITIES
As at 31 December 2008, the Company recognized a long-term liability in the amount of
CZK 246,558 thousand (31 December 2007: CZK 284,010 thousand). This liability
represents a loan received from a related party (Note 21). Payables to related parties are
shown in Note 21.
As at 31 December 2008 and 2007, the Company had no overdue short-term liabilities.
Trade payables and other liabilities with the exception of excise tax payable to financial
authorities were not secured by any of the Company’s assets. The excise tax payables are
secured by bank guarantees with a value of CZK 100,000 thousand.
ANNUAL REPORT ČESKÁ RAFINÉRSKÁ, a.s., 2008 41