The SMART Group SMART ANNUAL REPORT 2001 - Scandinavia

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Note 18 Prepaid expenses and accrued income (SEK thousands)GroupParent Company31-12-2001 31-12-2000 31-12-2001 31-12-2000Prepaid rent 1,875 1,905 1,875 1,866Accrued interest income 150 1,135 150 0Accrued income 57,332 74,094 26,160 25,297Prepaid expenses 9,569 16,769 3,528 16,333Other items 2,365 2,516 0 1,131Total 71,291 96,419 31,713 44,627Note 19 Change in shareholders’ equity (SEK thousands)Share Restricted Non-restricted Profit forGroup capital reserves reserves the yearAmount on 1 Jan. 20,000 42,334 56,905 33,313Change in conversion difference 0 0 4 672 –1,337Adjustment of OB due to deferred tax/tax recoverable 20,000 42,334 61,577 31,976Translation differences, etc 0 1,158 2,899 0Dividend 0 0 –63,690 0Transfers between restricted andnon-restricted equity 0 11,177 –11,177 0Distribution of profit by AnnualGeneral Meeting 0 0 33,313 –33,313Change in conversion difference 0 0 –1,337 1,337Profit for the year 0 0 0 59,323Amount on 31 Dec. 20,000 54,669 21,585 59,323Share Restricted Non-restricted Profit forParent Company capital reserves reserves the yearAmount on 1 Jan. 20,000 4,000 42,371 21,319Change in conversion difference 0 0 3,360 –723Adjustment of OB due to deferred tax/tax recoverable 20,000 4,000 45,731 20,596Dividend 0 0 –63,690 0Distribution of profit by AnnualGeneral Meeting 0 0 21,319 –21,319Change in conversion difference 0 0 –723 723Profit for the year 0 0 0 32,668Amount on 31 Dec. 20,000 4,000 2,637 32,668Note 20 Minority interests (SEK thousands)Group31-12-2001 31-12-2000Minority owners’ share of equity 21,246 12,069Receivable from minority owners 0 –15,246Change in conversion difference 0 95Total 21,246 –3,082Note 21 Untaxed reserves (SEK thousands)Parent Company31-12-2001 31-12-2000Tax allocation reserve tax 96 0 2,100Tax allocation reserve tax 97 9,510 9,510Tax allocation reserve tax 98 2,909 2,909Tax allocation reserve tax 99 3,700 3,700Tax allocation reserve tax 00 3,603 3,603Tax allocation reserve tax 01 10,556 11,072Tax allocation reserve tax 02 15,301 0Total 45,579 32,894Note 22 Accrued expenses and prepaid income (SEK thousands)GroupParent Company31-12-2001 31-12-2000 31-12-2001 31-12-2000Accrued holiday pay 10,891 10,218 3,697 2,855Accrued social welfare contributions 4,268 5,564 2,721 2,189Prepaid income 32,689 21,654 0 0Discounts to customers 79,121 106,790 0 0Other items 62,791 66,252 35,681 56,374Total 189,760 210,478 42,099 61,418Note 23 Pledged assets (SEK thousands)GroupParent Company31-12-2001 31-12-2000 31-12-2001 31-12-2000Chattel mortgages none none none noneNote 24 Contingent liabilities (SEK thousands)GroupParent Company31-12-2001 31-12-2000 31-12-2001 31-12-2000Other contingent liabilities 852 772 852 772Total 852 722 852 772The parent company has committed to providing 51 per cent of any customer demands in ongoingconciliation negotiations with customers.Note 25 Operational leasing (SEK thousands)Future obligations according to operational lease agreement have been entered into as follows:Amount due Group Parent Company2002 12,630 7,8742003 11,457 8,1262004 138 0Total 24,225 16,000The total amount of paid leasing fees was SEK 13,666 thousand for the Group and SEK 6,345 thousand forthe parent company for 2001.28 29
Stockholm 29 May 2002Board of DirectorsMats Mitsell Benny Zakrisson David V. JonesPRESIDENTMats FagerlundSören JespersenCHAIRMANAudit reportTo the Annual General Meeting of Scandinavian Multi Access Systems SMART ABCompany Registration Number 556051-4571Sören Jespersen(1957)SAS – Chairman,Senior VicePresident WorldSales. Chairmansince June 2001.Mats Mitsell (1947)SMART – Presidentand Group CEO.Board membersince May 1993.I have examined the annual report, consolidated financial statements, and accounting records, aswell as the administration of Scandinavian Multi Access Systems SMART AB by the Board of Directorsand the Chief Executive Officer in respect to the 2001 financial year.The Board of Directors and the CEO bear responsibility for the accounting documentsand administration. My responsibility is to express an opinion on the annual report, consolidatedfinancial statements, and administration on the basis of my audit.My audit was carried out in accordance with generally accepted Swedish auditing practice.This means that I planned and conducted the audit in such a way as to assure myself to a reasonabledegree that the annual report and consolidated financial statements do not contain material errors.An audit consists of examining a selection of the documents showing figures and other informationin the accounting records. An audit also includes scrutiny of the accounting policies and theirapplication by the Board and the CEO, together with an assessment of the information as a wholein the annual report and consolidated financial statements. I have examined important decisions,measures, and circumstances within the Company in order to be able to judge whether any Boardmember or the CEO is liable for damages vis-à-vis the Company, or in any other way has actedcontrary to the Swedish Companies Act, the Swedish Annual Accounts Act, or the Company’sarticles of association. I consider that my audit has provided me with a reasonable basis for mystatements below.The annual report and the consolidated financial statements have been prepared in accordancewith the Swedish Annual Accounts Act and thus provide an accurate reflection of the Company’sand the Group’s earnings and position in accordance with generally accepted Swedish auditingpractice.I recommend that the income statement and balance sheet for the Parent Company and theGroup be adopted, that the profit of the Parent Company be distributed in accordance with therecommendation contained in the administration report, and that the Board members and theCEO be discharged from liability in respect to the financial year.Stockholm 5 June 2002Jan Åke MagnusonAUTHORISED PUBLIC ACCOUNTANTMats Fagerlund(1957)SAS ‒ Vice PresidentSales & DistributionServices.Board membersince 2001.Benny Zakrisson(1959)SAS – Vice PresidentCorporate Advisory.Board membersince 2001.David V. Jones(1943)Amadeus – ExecutiveVice PresidentCommercial.Board member sinceSeptember 1998.3031
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The SMART Group SMART ANNUAL REPORT 2001 - Scandinavia

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