annual report 2009 - bei der Hamborner REIT AG

(25) Other provisions
The maturities of the other provisions break down as follows:
in T€ Overall Allocations
Provisions for
to our sHareHolders management report Financial statements supplementary inFormation
Jan 1, 2009 Dec 31, 2009 of which
Claim Releases Overall long-
term
Bonuses 559 514 559 0 514 0 514
Mining damage 1,378 37 14 0 1,401 701 700
Provisions linked to the
Articles of Association and
legal form 406 211 406 0 211 0 211
Legal and consultancy
expenses 195 241 167 28 241 0 241
Outstanding invoices 276 331 241 35 331 0 331
Other 143 206 93 0 256 0 256
Total 2,957 1,540 1,480 63 2,954 701 2,253
The provisions for bonus obligations are around
€45,000 below the value for the previous year
and amount to €514,000. The decrease is mainly
attributable to employee fluctuation within the
group of people eligible for a bonus.
The provisions for mining damage relate to the
potential risks from our former mining activity,
which continue to a limited extent. In this respect
we refer to the more comprehensive explanations
in the risk report, which is an integral part of the
integrated management report.
Mining-related provisions are long-term provisions
that are shown in the balance sheet at their settlement
value discounted on the balance sheet date.
A rate of interest of 6.0% (previous year: 6.0%)
with a residual term of up to 22 years (previous
year: 23 years) is taken as a basis here as the discount
factor. The allocation made in the reporting
year amounts to €37,000 and arises from the term-
dependent compounding of the provision. The
€14,000 shown as a drawing relates to expenses
for shaft protection measures and for the management
of the affected pits and coal fields.
The provisions for obligations linked to the Articles
of Association and legal form include remunerations
for the Supervisory Board and statutory
auditor's fees. We refer to marginal number (2) for
further details on the statutory auditor's fees within
shortterm
the meaning of Art. 314 Para. 1 No. 9 of the
German Commercial Code.
The provisions for outstanding invoices increased by
€54,000 year-on-year and amount to €331,000.
Amounts for maintenance expenses not yet invoiced
and for operating costs were deferred, in so far as
they relate to the year 2009.
(26) Contingent liabilities and financial
obligations
The other financial obligations after the balance
sheet date result from four long-term leasehold
contracts and are constituted as follows:
Agreement term
up to
Payment
obligation
(in T€ p.a.)
Charge
passed on
to tenants
(in T€ p.a.)
31 December 2034 184 184
31 March 2060 113 0
30 June 2012 * 228 0
30 June 2023 210 0
Total 735 184
* The heritable building right transfers into our ownership on
June 30, 2012 against payment of €3.2 million on the basis
of contractual agreements.
Furthermore, there are no additional contingent
liabilities, third-party liabilities or other financial
obligations.
annual report 2009 | Hamborner reit ag
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