ANNUAL REPORT 2008 | 2009 - SinnerSchrader AG

Annual Financial Statements of SinnerSchrader AGNotes893.2 Treasury StockAs of 31 August 2009, the Company held 270,656 shares of treasury stock with a calculated face value of€ 270,656. They represent 2.34 % of the share capital and are held for the purposes cited in the relevantresolutions of the Annual General Meetings. The acquisition cost for the treasury stock held was € 1.54 pershare on average.As of 31 August 2008, the Company held 45,185 shares of treasury stock which had been purchased at anaverage acquisition cost of € 1.60 per share. In the 2008/2009 financial year, 245,471 shares of treasury stockwere purchased on the stock market at an average price of € 1.53. In May 2009, 20,000 shares of treasury stockwere issued to the sellers of newtention technologies GmbH as part of the purchase price for the takeover of thecompany.The treasury stock is entered in the balance sheet either at acquisition costs or at a value to be ascribed, whicheveris lower. Accordingly, the number of treasury stock shares as of 31 August 2009 should be posted at theoriginal acquisition cost given a closing price of € 1.69 per share on this date.A reserve for the treasury stock is formed in the amount of the balance sheet item.3.3 Accounts Receivable and Other AssetsThere were accounts receivable and other assets in the amount of € 156,187 (previous year: € 172,784) with aremaining term of over one year. All other accounts receivable and other assets in the amount of € 2,422,335(previous year: € 1,034,484) have a remaining term of up to one year.Accounts receivable from affiliated companies in the amount of € 2,361,266 (previous year: € 1,017,782) arebalanced against liabilities to affiliated companies in the amount of € 4,131,585 (previous year: € 4,871,581).The gross item is made up of accounts receivable due to profit and loss transfer agreements in the amount of€ 2,945,290 (previous year: € 2,556,974), trade accounts receivable in the amount of € 3,117,961 (previous year:€ 3,093,854), and accounts receivable associated with tax integration in the amount of € 429,601 (previous year:€ 137,585). In the previous year there were also loans to affiliated companies in the amount of € 100,950.As of 31 August 2009, the other assets comprised a claim for reimbursement from corporation tax creditswhich was to be activated in the full amount as of 31 December 2006 due to the introduction of the Act on TaxMeasures Accompanying the Introduction of the European Company and on Amending Other Tax Regulations.The cash value was used because the claims for reimbursement bear no interest. A risk-free interest rate(interest on federal loans) was chosen for discounting. The discounted claim for reimbursement as of31 August 2009 was € 156,187 and had a remaining term of over one year.Furthermore, interest receivable from the investment of securities in the amount of € 48,315 was posted underother assets.3.4 Prepaid ExpensesThe prepaid expenses in the amount of € 30,188 (previous year: € 41,980) largely consist of payments forinvestor relations services, insurance policies, maintenance contracts, contributions, a contingency for jobadvertisements.