Download 2004 Annual Report - Polymetal

Investments mainly represent or−dinary shares in Nomos−Bank, a re−lated party, (4.96% of total sharesissued), acquired in October 2001and accounted for at cost. Intangibleassets are primarily mineral rightsacquired by the Company upon pur−chase of subsidiaries. Accumulatedamortization of intangible assets wasU.S. Dollar 939 and U.S. Dollar 726 atDecember 31, 2004 and 2003, re−spectively.NOTE 10Property, Plant and Equipment, netDecember 312004December 312003Здания и подземные сооружения 73 107 32 911Машины и оборудование 90 463 51 845Транспорт и прочее 28 675 23 158Незавершенное строительство 102 964 110 915Стоимость 295 209 218 829Накопленный износ (38 547) (14 712)Итого основные средства, чистая сумма 256 662 204 117At December 31, 2004, of the to−tal cost of U.S. Dollar 295 209, U.S.Dollar 66 929 (of which Machinery &Equipment was U.S. Dollar 47 430 andTransport & other was U.S. Dollar 19499) related to capitalized leases (De−cember 31, 2003: U.S. Dollar 49 214,of which Machinery & Equipment wasU.S. Dollar 34 449 and Transport &other was U.S. Dollar 14 765).At December 31, 2004, of the totalaccumulated depreciation and deple−tion of U.S. Dollar 38 547, U.S. Dol−lar 15 116 (of which U.S. Dollar 10857 was attributed to Machinery &Equipment, and U.S. Dollar 4 259 toTransport & other) relates to capi−talized leases (December 31, 2003:U.S. Dollar 6 709, of which U.S. Dollar4 696 was attributed to Machinery& Equipment, and U.S. Dollar 2 013 toTransport & other).Included within construction in prog−ress were long−term deferred ex−ploration expenditures of U.S. Dollar5 283 and U.S. Dollar 7 710 at De−cember 31, 2004 and 2003, respec−tively.NOTE 11Other current assetsDecember 312004December 312003Deferred development expenditures 3 772 971Promissory notes from Severo−Zapad Invest Prom 12 397 −Promissory notes from Khantymansiyskiy Bank 1 630 −Other debtors 1 935 682Deferred expenditures 3 224 8Total other current assets 22 958 1 661NOTE 12VAT receivableDecember 312004December 312003Short−term VAT receivable 48 676 27 432Long−term VAT receivable 3 770 15 538Appendix #1: Consolidated financial statements61