annual report 2009 - bei der Hamborner REIT AG

Explanatory notes to the balance sheet
(13) Intangible assets and tangible fixed assets
Intangible assets entail exploitation rights for systems
and applications software acquired against
payment, which are valued at acquisition cost and
are depreciated on a straight-line basis over a useful
life of three to eight years. This decrease in value is
presented under the item "Amortisations of intangible
assets, tangible fixed assets and investment
properties". Non-scheduled value adjustments
(reductions and increases) were not necessary
in 2009.
We show the company's administrative building
in Duisburg and the fixtures and equipment under
tangible fixed assets.
The depreciation calculation for the administrative
building uses a total useful life of 50 and a remaining
useful life on the balance sheet date of 10 years
as a basis.
The fixtures and equipment have an average useful
life of between 3 and 15 years.
(14) Properties held as a financial investment
In the case of properties held as a finacial investment,
additions of €40,558,000 were recorded in
the financial year, which were apportioned to the
properties acquired in the reporting year and prepayments
on account thereof at €40,545,000 and
to post-capitalisations for portfolio properties at
€13,000.
In addition to smaller sales of undeveloped land
from the existing portfolio, one property in Bad
Oeynhausen was sold in the third quarter.
The following useful life ranges were applied in the
reporting year:
Useful life ranges of non-current assets Years
Business and office buildings 33 to 50
Other commercial constructions 40 to 50
Self-service markets 33 to 40
to our sHareHolders management report Financial statements supplementary inFormation
To adjust the amortised acquisition and construction
costs shown in the balance sheet as of Dec 31, 2009
to the applicable fair values, the result was reduced
through a non-scheduled depreciation amounting
to €714,000. On the other hand, we carried out a
reversal of impairment adjustment to the extent
of €1,266,000 to properties subjected to a nonscheduled
depreciation in previous years.
Investment properties developed as presented
below in the reporting year:
in T€ 2009 2008
Position at 1 January 223,342 201,702
+ Additions as a result of
purchase 40,028 16,133
+ Additions as a result of
prepayments 517 1,230
+ Additions as a result of
subsequent investments 13 1,994
40,558 19,357
– Disposals as a result of
sales – 552 0
– Disposals as a result of
reclassifications 0 – 4,976
+ Additions as a result of
reclassifications 0 16,529
– 552 11,553
+ Reversal of impairment
adjustment 1,266 945
– Depreciations for the financial
year – 7,228 – 10,215
Position at 31 December 257,386 223,342
The direct operating charges from leased and vacant
investment properties amount to €4,930,000 (previous
year: €4,135,000) in the reporting year. The
entire inventory was leased out on the balance sheet
date – apart from temporary partial vacancies in
individual properties. Of this , €107,000 (previous
year: €79,000) is apportionable to vacant spaces in
the reporting year, including the undeveloped property
holdings not leased out. The expenses apportionable
to the unlet spaces are determined here
according to the weighted percentage ratio, which
is apportionable to the vacancies in relation to the
total leased area.
annual report 2009 | Hamborner reit ag
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