ELMEC SPORT BULGARIA EOOD

“Elmec Sport Bulgaria” ЕООDReport and Financial Statements for the year ended 31 December 2008____________________________________________________________________2. 12. EQUITY AND LIABILITIES2. 12. 1 Share capitalPartnerNumberof sharespar valueShare capital31.12.2008 31.12.2007Issued andfully paid% ShareNumber ofsharespar valueIssued andfully paid% ShareElmec Sport S.A. 302,000 10 3,020,000 100% 302,000 10 3,020,000 100%Total: 302,000 10 3,020,000 100% 302,000 10 3,020,000 100%2. 12. 2 Retained earningsFinancial resultNet profit for the year 2006 698Net profit for the year 2007 1,706Net profit for the year 2008 4,606At 31 December 2008 7,0102. 13 Non-current financial liabilitiesNon-current financial liabilitiesNon-current financial liabilities 31.12.2008 31.12.2007Borrowings 144Finance lease 24 40Total 24 1842. 14 Deferred tax liabilitiesTemporary difference31 December 2007TemporarydifferenceMovementincreaseTemporarydifference31 December 2008TemporarydifferenceTax basisTax basisTax basisDeferred tax LiabilitiesDepreciations 100 10 90 9 190 19Total liabilities: 100 10 90 9 190 192. 15. Current trade and other payablestype 31.12.2008 31.12.2007Payables to related parties, including 1,578 385Debts on supplies 1141 43420