Annual report 2009 - Crédit Agricole CIB

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CALYON S.A., ORGANIZAČNÍ SLOŽKANOTES TO FINANCIAL STATEMENTSFOR THE PERIOD ENDED 31 DECEMBER 20092 ACCOUNTING POLICIES (continued)(p)Long-term tangible and intangible fixed assetsLong-term tangible and intangible fixed assets are recorded at cost. Fixed assets aredepreciated/amortised by applying the straight-line basis over their estimated useful livesresulting in the following annual rates:First year of useOther years% %Technical appreciation of leased property 1.0 – 20 3.4 – 20Hardware and equipment 2.3 – 25 10.5 – 40Motor vehicles 14.2 28.6Furniture and fittings 2.3 - 11 18.3 - 22.3Revaluation difference 6.7 6.7Software 20 40Repair and maintenance expenditures are charged to expense as incurred. Expendituresenhancing the value of the asset are capitalised and depreciated.(q)Value added taxThe Branch is registered for value added tax (“VAT”). Intangible and tangible fixed assets arestated at cost including appropriate VAT. The Branch claims input VAT up to the minimumlimit set by law (i.e. 1%), as the ratio of the taxable income to the total income of the Branchis sufficient according to the currently valid VAT legislation. Input VAT which is not re-claimedis expensed immediately.(20)
CALYON S.A., ORGANIZAČNÍ SLOŽKANOTES TO FINANCIAL STATEMENTSFOR THE PERIOD ENDED 31 DECEMBER 20092 ACCOUNTING POLICIES (continued)(r)Deferred taxationDeferred tax liability is recognized on all temporary differences between the carrying amountof an asset or liability in the balance sheet and its tax base using the full liability method.A deferred tax asset is recognized to the extent that it is probable that future taxable profit willbe available against which this asset can be utilized.The enacted tax rate for the period in which the Branch expects to utilize the asset/liability isused for the deferred taxation calculation.Deferred tax related to fair value remeasurement of available-for-sale securities, which arecharged or credited directly to equity, is also credited or charged directly to equity.(s)Staff costs, pensions and social fundStaff costs are included in administrative expense and include also managementemoluments.No formal or informal pension plan is currently in operation at the Branch.Regular contributions are made to the Czech state to fund the national pension plan.(t)Related partiesRelated parties are defined in accordance with the Act on Banks as follows:Senior management of the Branch, being persons responsible for management functionsbased on employment or other contracts and powers and responsibilitiesof which are defined in the Branch’s statute (“senior management”);Entities controlling the Branch, their shareholders holding more than 10% of share capitaland their senior management;Relatives (direct family members) of senior management of the Branch;Entities in which Management committee members of the Branch, senior management orentities controlling the Branch hold more than 10% shareholding;Entities controlled by Crédit Agricole, S.A.In accordance with the Czech accounting rules the following related party balancesand transactions are disclosed in Notes 4, 10 and 21:Total amount of loans, deposits or guarantees provided or received by the Branchto or from any related party;All salaries and other remuneration of members of the senior managementand of the Management committee of the Branch in aggregated amounts.(21)
Page 1 and 2: Annual report2009CALYON BANK S.A.,
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Annual report 2009 - Crédit Agricole CIB

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