annual report 2009 - bei der Hamborner REIT AG

to our sHareHolders management report Financial statements supplementary inFormation
Notes to the financial statements
Principles for the preparation of the
financial statements
General principles
In implementation of the resolutions of the
general shareholders' meeting dated 8 June 2009,
HAMBORNER AG was converted into a REIT company
with effect from 1 January 2010 by registration
of a company on 18 February 2010 and now
trades under the name HAMBORNER REIT AG.
The company had already been registered as a
Pre-REIT with the German Federal Central Tax Office
since 29 June 2009, but in this regard was not yet
deemed to be a REIT company within the meaning
of Art. 1 of the German REIT Act.
HAMBORNER REIT AG acquires ownership or easement
rights for German and foreign immovable pro-
perty within the meaning of Art. 3 of the German
REIT Act for use, management or realisation, with
the exception of existing German residential properties.
Investments in partnerships and public limited
companies within the meaning of Art. 3 of the
German REIT Act may also be acquired, held, managed
and realised. The registered office of the company
is in Duisburg (Germany). It is entered in the
Commercial Register at Duisburg County Court
(Amtsgericht) under HRB 4.
The obligation for the preparation of consolidated
financial statements lapses with the merger of the
subsidiary Hambornberg Immobilien- und Verwaltungs-GmbH
with the parent company with effect
from 1 October 2009. However, as a stock exchange-
listed public limited company, HAMBORNER REIT AG
voluntarily prepares and publishes individual financial
statements according to the requirements of
the IFRS in accordance with Art. 325 Para. 2a of the
German Commercial Code [HGB]. The management
report in accordance with Art. 289 HGB is disclosed
with the individual IFRS financial statements.
The individual financial statements as of 31 December
2009 were prepared in accordance with the Inter-
national Financial Reporting Standards (IFRS) applicable
on the balance sheet date, as they are to be
applied in the European Union, and with the provisions
under commercial law to be observed in addition
in accordance with Art. 325 Para. 2a HGB.
The IFRS entail the IFRS issued by the International
74 Hamborner reit ag | annual report 2009
Accounting Standards Board (IASB), the International
Accounting Standards (IAS), the interpretations
of the International Financial Reporting Committee
(IFRIC) as well as those of the Standing Inter-
pretations Committee (SIC). All standards and inter-
pretations issued by the International Accounting
Standards Board (IASB) and applicable at the time
of preparation of the financial statements are applied,
provided that they have been adopted by the EU
(endorsement). The individual financial statements
of the company comply with the IFRS in this respect.
The financial statements were prepared in Euro (€).
All amounts are shown in thousands of Euro (T€)
– unless otherwise stated. Minor differences may
arise with computations of totals and percentage
figures due to rounding.
The Managing Board prepared the financial statements
at 31 December 2009 and the management report
for the year 2009 on 19 February 2010 and released
them for submission to the Supervisory Board.
The present individual financial statements as of
31 December 2009 are based essentially on the same
accounting and valuation methods and calculation
rules as the consolidated financial statements in the
previous year. For the purposes of the first-time pre-
paration of the individual IFRS financial statements,
the previous balance sheet preparation for the IFRS
consolidated financial statements was continued and
the amounts indicated as comparable figures of the
previous year. The balance sheet as of 31 December
2009 is broken down by maturities in accordance with
IAS 1 (51). In order to improve the clarity of the presentation,
various items of the balance sheet and in-
come statement have been summarised and explained
in the notes to the financial statements. The income
statement was adjusted for better presentation of
the earnings situation on the basis of the breakdown
suggestions customary for real estate companies of
the European Public Real Estate Association (EPRA).
Additional items were included in the income statement
or a reclassification between individual items
undertaken for the improvement of the significance
of the earnings situation.
The expenses and income from the sale of properties
are no longer entered under the other operating
income in the income statement, but presented