Table of contents

31. Expenses by nature
Notes 2016 2015
€ €
Accommodation 234 040 126 966
Administration and management fees - 17 490
Advertising and marketing 1 677 530 1 999 692
Auditors remuneration 32 965 178 440 409
Collection costs 1 577 202 1 699 216
Computer expenses 255 794 120 112
Consulting and professional fees 1 855 776 955 173
Depreciation. amortisation and
33 746 075 980 981
impairment
Employee Costs 34 7 382 605 3 932 608
Lease rentals on operating lease 719 117 576 924
Motor vehicle expenses 88 981 56 457
Municipal expenses 54 164 50 963
Postage and courier 45 053 48 602
Printing and stationery 146 071 104 681
Repairs and maintenance 47 831 53 058
Royalty fees - 67 298
Security 52 296 35 101
Shared services fees 436 018 274 483
Staff recruitment 170 610 83 474
Staff welfare 109 074 76 650
Subscriptions 171 858 104 725
Telephone and fax 317 198 284 425
Travel - local 251 863 174 169
Travel - overseas 471 651 317 991
VAT Expense 686 360 139 392
Other expenses 594 812 648 978
32. Auditors’ remuneration
2016 2015
€ € €
Fees 887 359 368 805
Other non-audit services 77 819 71 604
965 178 440 409
33. Depreciation, amortisation
and impairments
The following items
2016 2015
are included within
depreciation.
€ €
amortisation and
impairments:€
Depreciation
Property, plant and
341 134 269 779
equipment
Amortisation
Intangible assets 404 941 312 091
Impairments
Goodwill - 181 533
Other receivables - 217 578
Total depreciation.
amortisation and
impairments
746 075 980 981
34. Employee benefit expense
Employee costs
2016 2015
€
€ €
Basic 6 825 770 3 725 385
Commissions 556 835 207 223
7 382 605 3 932 608
The total average number of employees during the
financial year was 328.
35. Investment revenue
2016 2015
€ € €
Bridging finance interest - 270 370
Related party interest 1 499 750 601 661
36. Finance costs
1 499 750 872 031
2016 2015
€ € €
Shareholders loans 710 165 2 497 178
Other financial borrowings 9 637 249 2 838 546
Loss on foreign exchange 467 958 985 382
Funding origination costs 1 129 179 377 428
Other interest 3 878 -
11 948 429 6 698 534
37. Income tax expense
Major components of the 2016 2015
Income tax expense
€ €
Current
Local income tax - current 2 829 616 2 652 915
period
Excise duty 397 408
Withholding tax - current 820 464 797 259
period
3 650 477 3 450 582
Deferred
Originating and reversing
temporary differences
(2 054 825) (1 099 060)
Total income tax
expense
(2 054 825) (1 099 060)
1 595 652 2 351 522
Reconciliation of the Income tax expense
Reconciliation between accounting profit and tax
expense.
Accounting profit/(loss) 949 319 5 686 838
Tax at the domestic tax
rates applicable to profits
in the respective countries
203 956 1 231 318
Tax effect of adjustments
on taxable income
Nondeductible expenses 201 685 26 365
Thin Capitalisation 120 899 -
Amortisation of customer (19 465) 19 319
base
Unrecognised tax losses 420 586 372 977
Utilisation of previously
- (92 129)
unrecognised tax losses
Withholding tax credit 808 314 797 258
Prior period adjustment (118 482) (3 994)
Nondeductible income (22 238) -
Excise duty 397 408
1 595 652 2 351 522
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MyBucks Annual Report 2016 134
135 MyBucks Annual Report 2016