Annual Report 2005

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$HP Latex Printing Technologies - Neschen$

66 Notes relating to the consolidated annual accounts Provisions for taxes in €k 31.12.2005 31.12.2004 Neschen AG, Bückeburg/Germany 1,371 1,315 Neschen Austria Ges.m.b.H., Vienna/Austria 0 27 Neschen International B.V., Raalte/The Netherlands 626 757 Neschen Benelux B.V., Breda/The Netherlands 37 0 Seal UK Ltd., Basildon/Great Britain 16 0 Filmolux S.A.R.L., Paris/France 299 275 Neschen UK Ltd., Stone/Great Britain 0 45 Neschen ITALIA s.r.L., Bagnolo/Italy 56 0 Neschen Corporation, Elkridge/USA (consolidated) 101 0 Neschen Products España S.A., Barcelona/Spain 95 130 HSW Signall s.r.o., Prague/Czech Republic 332 154 Total 2,933 2,703 Provisions for taxes from income 2,297 2,262 Provisions for other taxes 134 20 Provisions for deferred taxes 502 421 Total 2,933 2,703 The provisions for deferred taxes relate to various valuations in the Group balance sheet in relation to the taxable profit calculated for the companies included. Other provisions in €k 31.12.2005 31.12.2004 Neschen AG, Bückeburg/Germany 955 547 Neschen Technologies GmbH, Bückeburg/Germany 0 4 Neschen Austria Ges.m.b.H., Vienna/Austria 100 87 Neschen International B.V., Raalte/The Netherlands 150 281 Seal Graphics Europe B.V., Raalte/The Netherlands 10 10 Filmolux S.A.R.L., Paris/France 298 273 Neschen UK Ltd., Stone/Great Britain 52 27 Neschen Corporation, Elkridge/USA (consolidated) 458 558 HSW Signall s.r.o., Prague/Czech Republic 31 21 Neschen China Ltd., Hong Kong/China 2 2 Total 2,056 1,810 Other provisions in €k 31.12.2005 31.12.2004 Leave 234 231 Supervisory board remuneration 19 19 Auditing costs 187 148 Part time option for older employees 36 0 Bonuses 117 0 Commission 41 158 Compensation 159 0 Outstanding invoices 99 397 Legal costs 150 100 Warranties 300 407 Social insurance for occupational accidents 151 163 Other 563 187 Total 2,056 1,810 The other provisions have a residual term of up to one year. The valuation of the other provisions was based on the best possible estimate of the expenditure required to meet current obligations as of the closing date.
Notes relating to the consolidated annual accounts Distribution of liabilities in €k 31.12.2005 31.12.2004 Liabilities due to banks 70,100 69,910 Payments received 110 123 Liabilities from supplies and services 9,959 13,809 Liabilities to subsidiaries 8 168 Other liabilities 5,682 4,267 Deferred credits to income 202 144 Total 86,061 88,421 Liabilities due to banks in €k 31.12.2005 31.12.2004 Neschen Austria Ges.m.b.H., Vienna/Austria 207 150 Neschen International B.V., Raalte/The Netherlands 65,851 65,390 Seal Graphics Europe B.V., Raalte/The Netherlands 13 0 Seal UK Ltd., Basildon/Great Britain 0 1 Filmolux S.A.R.L., Paris/France 2,438 3,098 Neschen ITALIA s.r.L., Bagnolo/Italy 1,416 1,114 Neschen Corporation, Elkridge/USA (consolidated) 175 157 Total 70,100 69,910 Residual term < 1 year 25,790 27,834 Residual term 1-5 years 44,310 42,076 Total 70,100 69,910 Securities The following securities were granted under a bank pooling agreement: (Pooling manager: Commerzbank AG) • Land charge amounting to 40,000,000.00 Euros for joint liability relating to the following properties: a) plot at Hans-Neschen-Strasse 1, 31675 Bückeburg (buildings and undeveloped land, lot Müsingen, field 5, land parcel 8/8). Entered in the Land Register of the local court of Bückeburg (district of Müsingen, sheet 205). b) plot at Windmühlenstrasse 6, 31675 Bückeburg (buildings and undeveloped land, lot Bückeburg, field 24, land parcel 52/562). Entered in the Land Register of the local court of Bückeburg (district Bückeburg, sheet 2672). • Assignment of the machines at the Bückeburg site and at the Archive Centres as security insofar as these are not accessories or essential parts of an operational object in Bückeburg. With the exception of the siliconising machine – currently assigned as security to the Deutsche Bank AG. • Assignment of the warehouse at Hans-Neschen-Strasse 1 and Windmühlenstrasse 6 in Bückeburg as security. • Pledging of trademark rights, patents and licences • Assignment of rights of disbursement towards EUROFACTOR AG, Munich including claims relating to trade credit insurance policies concluded and assigned to the factor • Global assignments for those outstanding debts not acquired by EUROFACTOR AG, Munich • Pledging of business shares in the following European companies: HSW Signall s.r.o., Prague/Czech Republic, Filmolux S.A.R.L., Paris/France, Neschen Italia s.r.l., Bagnolo/Italy, Neschen Products España S.A., Barcelona/Spain, Neschen Benelux B.V., Breda/The Netherlands, Seal Graphics Europe B.V., Raalte/The Netherlands, Seal UK Ltd., Basildon/Great Britain, Neschen UK Ltd., Stone/Great Britain. Pledging of European subsidiaries has not yet been legally implemented in full. • Liability of the controlling company from the sub-group in the USA (Neschen Corporation) through the provision of guarantees • Guarantees of Seal Graphics Americas Corp. and Neschen Accutech Corp., both in Elkridge/USA. Payments received in €k 31.12.2005 31.12.2004 Neschen AG, Bückeburg/Germany 82 98 Neschen Benelux B.V., Breda/The Netherlands 2 2 HSW Signall s.r.o., Prague/Czech Republic 6 23 Neschen China Ltd., Hong Kong/China 20 0 Total 110 123 67
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Annual Report 2005
Page 4 and 5:
4 Financial Overview HGB IFRS IFRS
Page 6 and 7:
6 Neschen AG · Consolidated Compan
Page 8 and 9:
8 Foreword by the Spokesman for the
Page 10 and 11:
10 Foreword by the Spokesman for th
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12 Business Units NESCHEN AG has le
Page 14 and 15:
14 Market Strategy NESCHEN AG has h
Page 16 and 17: 16 Restructuring Program the site o
Page 18 and 19: 18 Business Unit “Graphics” The
Page 20 and 21: 20 Business Unit “Graphics” The
Page 22 and 23: 22 Business Unit “Documents” Th
Page 24 and 25: 24 Business Unit “Special Product
Page 26 and 27: 26 Quality Management During the pa
Page 28 and 29: 28 Corporate Governance Code With t
Page 30 and 31: 30 Report of the Supervisory Board
Page 32 and 33: 32 Course of business and Group’s
Page 34 and 35: 34 Profit and Loss Statement During
Page 36 and 37: 36 Profit and loss statement The re
Page 38 and 39: 38 Cash Flow Cash flow as of 31/12
Page 40 and 41: 40 Personnel development As of 31.1
Page 42 and 43: 42 Forecast We plan to achieve sale
Page 44 and 45: 44 Research and Development Approxi
Page 46 and 47: 46 Outlook The past year - 2005 - h
Page 48 and 49: 48 Consolidated balance sheet Conso
Page 50 and 51: 50 Notes relating to the consolidat
Page 78 and 79: 78 Neschen AG balance sheet (in acc
Page 80 and 81: 80 Income statement of Neschen AG F
Page 82: 82 Imprint Imprint The Annual Repor
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Annual Report 2005

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