Attached files
EXHIBIT 99.1
Chartered Public Accountants Gruber
Steuerberatungs GmbH
Annual financial statement as of
12/31/2015
Ulisse GmbH
Salurner Strasse 12, 6020 Innsbruck
TABLE OF CONTENTS
AUDITORS REPORT
AUDIT CONTRACT AND PERFORMANCE OF THE ENGAGEMENT 3
BREAKDOWN AND DESCRIPTION OF SIGNIFICANT ITEMS IN THE
FINANCIAL STATEMENTS 3
SUMMARY OF AUDIT FINDINGS 4
AUDITOR'S REPORT 4
COMPILATION REPORT 7
LEGAL STATUS 8
TAX STATUS 8
BALANCE SHEET AS OF 12/31/2015 9
PROFIT & LOSS STATEMENT 11
DETAILED ASSETS 12
DETAILED LIABILITIES 13
DETAILED PROFIT & LOSS STATEMENT 14
APPENDIX 17
ENCLOSURES TO THE APPENDIX 21
ASSET ANALYSIS 22
DETAILED ASSET ANALYSIS 22
ASSET ADDITIONS 23
DEPRECIATION FORECAST 23
OTHER ENCLOSURES
To the
Members of Management of
Ulisse GmbH,
Luca Pasquini
Salurner StraBe 12, Innsbruck
We have completed the audit of the financial statements as of 31.12.2015 of
Ulisse GmbH,
Innsbruck,
(referred to as "the Company")
and provide the results of our audit in the following report:
1. Audit contract and performance of the engagement
By management resolution of Ulisse GmbH, Innsbruck, we were elected as auditor
for the voluntary audit of fiscal year 2015. The Company, represented by the
management board, concluded an audit contract with us to audit the financial
statements as of 31.12.2015, including the accounting system pursuant to
Sections 269 et seqq. UGB.
The Company is a small corporation pursuant to Section 221 UGB.
The audit is a voluntary audit.
The audit included assessing whether the statutory requirements were adhered to.
We conducted our audit in accordance with the legal requirements and generally
accepted standards on auditing as applied in Austria. These standards require
that we comply with International Standards on Auditing - ISAs. An auditor
conducting an audit obtains reasonable assurance about whether the financial
statements are free from material misstatement. Absolute assurance is not
attainable due to the inherent limitations of any accounting and internal
control system and due to the sample-based test nature of an audit, there is an
unavoidable risk that material misstatements in the financial statements remain
undetected. Areas which are generally covered in special engagements were not
included in our scope of work.
We performed the audit, with interruptions in August 2016 mainly at the our
office in Innsbruck. The audit was substantially completed at the date of this
report.
Auditor responsible for the proper performance of the engagement is Mr. Mag.
Wilfried Stauder, Austrian Certified Public Accountant.
Our audit is based on the audit contract concluded with the Company. The
"General Conditions of Contract issued by the Austrian Chamber of Public
Accountants and Tax Advisors" (refer to Appendix II) form an integral part of
the audit contract. These conditions of contract do not only apply to the
Company and the auditor, but also to third parties. Section 275 UGB applies with
regard to our responsibility and liability as auditors towards the Company and
towards third parties.
2. Breakdown and description of significant items in the financial statements
3
The breakdown and description of all significant financial statement items are
included in the notes to the financial statements. Therefore, we refer to the
respective disclosures made by the management in the notes to the financial
statements.
3. Summary of audit findings
3.1. Compliance of the accounting system and the financial statements
During our audit, we obtained evidence that the statutory requirements and
accounting principles generally accepted in Austria have been complied with.
In line with our risk and controls based audit approach and to the extent we
considered necessary for the purpose of expressing an opinion, we considered
internal controls related to sub processes of the financial reporting process as
part of our audit.
With regard to the compliance of the financial statements with all applicable
statutory requirements we refer to the auditor's report.
3.2. Information provided
The Company's legal representatives provided all evidence and explanations
requested by us. We obtained a representation letter signed by the legal
representatives which we included in our working papers.
3.3. Reporting in accordance with Section 273 (2) and (3) UGB
During our audit we did not note any facts which indicate there could be
substantial doubt about the Company's ability to continue as a going concern, or
which indicate a material deterioration of the Company's performance or a
material offence of the Company's legal representatives or its employees against
Austrian law or the Company's articles of association. We did not note any
material weaknesses in the internal controls over the financial reporting
process. The financial statements do not meet the requirements for the assumed
need of reorganization in accordance with Section 22 Paragraph 1 Subsection 1
URG (Austrian Corporate Restructuring Act).
4. Auditor's Report
Report on the Financial Statements
We have audited the accompanying financial statements of
Ulisse GmbH,
Innsbruck,
for the fiscal year from 1.1.2015 to 31.12.2015. These financial statements
comprise the statement of financial position as of 31.12.2015, the income
statement for the fiscal year ended 31.12.2015, and the notes.
Our responsibility and liability as auditor is guided by Section 275 UGB
(liability regulations for the audit of small and medium-sized companies) and is
limited to a total of 2 million Euros towards the Company and towards third
parties.
4
Management's Responsibility for the Financial Statements
The Company's management is responsible for the preparation and fair
presentation of these financial statements in accordance with Austrian Generally
Accepted Accounting Principles (UGB) and for such internal control as management
determines is necessary to enable the preparation of financial statements that
are free from material misstatement, whether due to fraud or error.
Auditors' Responsibility
Our responsibility is to express an opinion on these financial statements based
on our audit. We conducted our audit in accordance with Austrian Standards on
Auditing. Those standards require that we comply with International Standards on
Auditing - ISA. In accordance with International Standards on Auditing, we are
required to comply with professional requirements and plan and perform the audit
to obtain reasonable assurance about whether the financial statements are free
from material misstatement.
An audit involves performing procedures to obtain audit evidence about the
amounts and disclosures in the financial statements. The procedures selected
depend on our judgment, including the assessment of the risks of material
misstatement of the financial statements, whether due to fraud or error. In
making those risk assessments, we consider internal control relevant to the
entity's preparation and fair presentation of the financial statements in order
to design audit procedures that are appropriate in the circumstances, but not
for the purpose of expressing an opinion on the effectiveness of the entity's
internal control. An audit also includes evaluating the appropriateness of
accounting policies used and the reasonableness of accounting estimates made by
management, as well as evaluating the overall presentation of the financial
statements.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a reasonable basis for our audit opinion.
5
Opinion
Our audit did not give rise to any objections. In our opinion, which is based on
the results of our audit, the financial statements comply with legal
requirements present fairly, in all material respects, the financial position of
the Company as of 31.12.2015 and its financial performance for the year then
ended in accordance with Austrian Generally Accepted Accounting Principles.
Innsbruck, on 11th August 2016
Stauder Schuchter Kempf
WirtschaftsprUfungs - und Steuerberatungs GmbH
/s/ Mag. Wilfried Stauder
Mag. Wilfried Stauder
Austrian Certified Public Accountant
This report is a translation of the original report in German, which is solely
valid.
Publication of the financial statements together with our auditor's opinion may
only be made if the financial statements and the management report are identical
with the audited version attached to this report. Section 281 paragraph 2 UGB
(Austrian Commercial Code) applies.
6
Compilation Report
To the Board of Directors of
Ulisse GmbH, 6020 Innsbruck, Salurner Strasse 12.
Report on the compilation of annual financial statement of Ulisse GmbH as of
12/31/2015:
As commissioned we have prepared the following annual financial statement of
Ulisse GmbH as of 12/31/2015 - comprising of balance sheet, profit & loss
statement as well as appendix - based on the accounts and inventory as well as
information on balance sheet and accounting methods to be used.
This financial statement was compiled based on the activities (accounting)
carries out by us and documents, books and inventory evidence submitted to us,
which we did not audit - as commissioned - for correctness or plausibility, and
the audit also used the information provided to us. You are directly responsible
for the accounting methods as well as inventory management and annual financial
statements in accordance with the accounting rules of the company (UGB) and the
supplementary provisions of the articles of association.
You also responsible for the accuracy and completeness of the documents and
information provided to us, even for users of the annual financial statement
prepared by us. In this context, we would like to refer to the letter of
representation that you have signed at our request.
The information was provided by Luca Pasquini.
You made the decisions about the voting rights and other discretionary
decisions.
We have prepared this report in accordance with the expert opinion KFS/RL 26
"Principles for the preparation of annual financial statements". The enclosed
General Terms & Conditions (AAB) for audit professionals of the Chamber of
Chartered Accountants (KWT) in the currently valid version shall be applicable
for the preparation of this report.
This statement can be sent to Third Parties only by enclosing our compilation
report.
If the annual financial statement prepared by us is disclosed to any Third
Parties, the statements on liability against Third Parties mentioned in Point 8
of AAB for audit professionals of KWT shall be applicable.
Wirtschaftstreuhander Gruber Steuerberatungs GmbH Hauptstrasse 14a 6401 Inzing
Inzing on, 08/10/2016
7
LEGAL STATUS
Company: Ulisse GmbH
Headquarters of the company: Innsbruck
Business address: 6020 Innsbruck, Salurner Strasse 12
Establishment: Articles of Association as of 01/09/2016
Entry in company register: 01/20/2016
Business purpose: IT Services
Fiscal year: 01/20/2015 t0 12/31/2015
Share capital: 35,000
Shareholders: Decarolis Gilda, DOB 09/25/1977 (11%)
Malvise Manuela, DOB 08/07/1987 (11%)
Pasquini Luca, DOB 10/31/1966 (67%)
Salvagni Franco, DOB 03/24/1976 (11%)
Paid-up capital: Decarolis Gilda, DOB 09/25/1977 (EUR 3,850)
Malvise Manuela, DOB 08/07/1987 (EUR 3,850)
Pasquini Luca, DOB 10/31/1966 (EUR 23,450)
Salvagni Franco, DOB 03/24/1976 (EUR 3,850)
Managing director: Luca Pasquini
TAX STATUS
Tax Office: INNSBRUCK
Tax ID no.: 326/9834
UID Number: ATU69273029
Tax consultants: Wirtschaftstreuhander Gruber
Steuerberatungs GmbH
Hauptstrasse 14a
6401 Inzing
8
BALANCE SHEET as of 12/31/2015
Assets 12/31/2015
EUR
A. FIXED ASSETS
I. TANGIBLE ASSETS
1. other fixed assets, operating and
office equipment 2,384.34
----------
2,384.34
----------
2,384.34
B. CURRENT ASSETS
I. RECEIVABLES AND OTHER
ASSETS
1. Accounts receivables
trade 135,000.00
2. Other receivables and
assets 5,164.33
----------
140,164.33
ll. CASH BALANCE, CHECKS, DEPOSITS WITH
CREDIT INSTITUTIONS
1. Deposit with credit institutions 101,816.70
----------
101,816.70
----------
241,981.03
TOTAL ASSETS 244,365.37
==========
Liabilities 12/31/2015
EUR
A. SHAREHOLDERS' EQUITY
I. SHARE CAPITAL
1.Share capital 35,000.00
----------
35,000.00
ll . NET PROFIT
Annual profit (loss) 151,240.92
----------
151,240.92
186,240.92
B. PROVISIONS
1. Tax provisions 49,163.00
2. Other provisions 4,504.49
----------
53,667.49
9
C. LIABILITIES
1. Accounts payables
trade 1,324.66
2.Other liabilities:
Other liabilities 3,132.30
----------
3,132.30
----------
4.456.96
TOTAL LIABILITIES 244,365.37
==========
10
PROFIT & LOSS STATEMENT
2015
EUR
1. REVENUES
a) Service revenue 352,000.00
----------
352,000.00
2. COST OF MATERIALS AND OTHER MANUFACTURING COSTS
a) Costs for services (66,400.00)
----------
(66,400.00)
3. PERSONNEL EXPENSES
a) Salaries (42,129.48)
b) Expenses for severance payments (556.83)
c) Expenses for legally prescribed
Social contributions as well as other
salary-related expenses and mandatory contributions (9,081.24)
----------
(51,767.55)
4. WRITE-OFFS
a) Depreciation on intangible assets
and activated expenses for business
expansion
(1,861.16)
----------
(1,861.16)
5. OTHER OPERATING EXPENSES
a) Taxes and charges if they are not dependent on
income or revenue (800.79)
b) Office space (10,488.20)
c) Energy expenses (633.30)
d) Advertisement and similar expenses (48.40)
e) Travel expenses (8,772.45)
f) Communication expenses (864.08)
g) Other business expenses (8,689.33)
----------
(30,296.55)
6. OPERATING PROFIT 201,674.74
7. OTHER INTERESTS AND SIMILAR REVENUES 3.23
3.23
8. INTERESTS AND SIMILAR EXPENSES (23.24)
(23.24)
9. NET OTHER INCOME/ EXPENSES (-) (20.01)
10. INCOME BEFORE TAXES 201,654.73
11. INCOME TAXES (50,413.81)
12. NET INCOME 151,540.92
13. NET INCOME/ (LOSS) FOR THE YEAR 151,540.92
14. RETAINED EARNINGS, ENDING 151,240.92
11
DETAILED ASSETS
12/31/2015
EUR
A. FIXED ASSETS
l. TANGIBLE ASSETS
1. Other assets, operating and office equipment
660 Operating and office equipment 2,384.34
----------
2,384.34
----------
TOTAL TANGIBLE ASSETS 2,384.34
----------
TOTAL FIXED ASSETS 2,384.34
----------
B. CURRENT ASSETS
l RECEIVABLES AND OTHER ASSETS
1. TRADE RECEIVABLES
2196 services not yet invoiced 135,000.00
----------
135,000.00
2. OTHER RECEIVABLES AND ASSETS
2300 Other short-term receivables 95.10
3510 VAT set-off 5,069.23
5,164.33
----------
TOTAL RECEIVABLES 140,164.33
ll CASH BALANCE, CHECKS, DEPOSITS
WITH CREDIT INSTITUTIONS
1. DEPOSITS WITH CREDIT INSTITUTIONS
2801 Hypo AT785700030053405310 101,816.70
----------
101,816.70
----------
TOTAL CASH 101,816.70
----------
TOTAL CURRENT ASSETS 241,981.03
----------
TOTAL ASSETS 244,365.37
==========
12
DETAILED LIABILITIES
12/31/2015
EUR
A. SHAREHOLDERS' EQUITY
l. SHARE CAPITAL
l. SHARE CAPITAL
9010 Share capital (35,000.00)
----------
(35,000.00)
----------
TOTAL SHARE CAPITAL (35,000.00)
ll. . NET PROFIT
9399 Annual profit (151,240.92)
----------
TOTAL NET PROFIT/LOSS (151,240.92)
----------
TOTAL SHAREHOLDERS' EQUITY (186,240.92)
B. PROVISIONS
1. TAX PROVISIONS
3020 Corporate tax (49,163.00)
----------
(49,163.00)
2. OTHER PROVISIONS
3044 Unused vacation entitlements (2,004.49)
3060 Consulting and financial statement costs (2,500.00)
----------
(4,504.49)
----------
TOTAL PROVISIONS (53,667.49)
C. LIABILITIES
1. ACCOUNTS PAYABLES TRADE
3300 Accounts payables trade - domestic 1,196.41
3710 Misc. short-term liabilities (2,521.07)
----------
(1,324.66)
2. 2. OTHER LIABILITIES
OTHER LIABILITIES
3700 Payroll account (400.00)
3810 Payroll account Luca Pasquini (1,982.30)
3811 Payroll account Gilda De Carolis (150.00)
3812 Payroll account Fabio Guccini (150.00)
3813 Payroll account Francesca Galeazzi (150.00)
3814 Payroll account Manuela Malvisi (150.00)
3815 Payroll account Franco Salvagni (150.00)
----------
(3,132.30)
----------
TOTAL OTHER LIABILITIES (3,132.30)
TOTAL LIABILITIES (4,456.96)
----------
TOTAL LIABILITIES (244,365.37)
==========
13
DETAILED PROFIT & LOSS STATEMENT
for fiscal year from 01/01/2015 to 12/31/2015 2015
EUR
1. REVENUES
a) Service revenues
4240 Service revenue EU 352,000.00
352,000.00
----------
TOTAL REVENUES 352,000.00
----------
2. COST OF MATERIALS AND OTHER MANUFACTURING COSTS
a) Expenses for services
5700 Subcontract services (28,400.00)
5740 Expenses for services purchased (38,000.00)
(66,400.00)
----------
TOTAL MATERIAL COSTS (66,400.00)
----------
3. PERSONNEL EXPENSES
a) Salaries
6200 Salaries (3,444.41)
6300 Other compensations (5,680.58)
6470 Provision for unutilized vacation entitlements (2,004.49)
----------
(42.129.48)
----------
b) Expenses for severance payments
6401 BWVG [Works Constitution Act] contributions (556.83)
----------
(556.83)
----------
c) Expenses for legally prescribed social contributions as
well as salary-dependent expenses and mandatory contributions
6500 Legal social contributions (7,877.52)
6630 Community tax (1,203.72)
----------
(9,081.24)
----------
TOTAL PERSONNEL EXPENSES (51,767.55)
----------
4. WRITE-OFFS
a) Depreciation on intangible assets
and activated expenses for business
expansion
14
7010 Depreciation on fixed assets (944.66)
7070 Low-value assets (916.50)
----------
(1,861.16)
----------
(1,861.16)
5. OTHER OPERATING EXPENSES
a) Taxes and charges if they are not dependent on income or revenues
7171 Contributions for chambers and professional associations (218.09)
7172 Mandatory contribution to state government (38.00)
7180 Other taxes and charges (544.70)
----------
(800.79)
b) Office expenses
7400 Rent (10,250.00)
7430 Heating costs (238.20)
----------
(10,488.20)
c) Energy expenses
7241 Electricity (633.30)
----------
(633.30)
d) Advertisement and similar expenses
7651 Advertisements (48.40)
----------
(48.40)
e) Travel expenses
7340 Travel expenses (7.008.88)
7341 Travel expenses for the managing director (1.763.57)
----------
(8,772.45)
f) Communication expenses
7380 Telephones (864.08)
g) Other operating expenses
7750 Tax consultancy expenses (2,500.00)
7755 Legal consultancy expenses (3,389.62)
7759 Other consultancy (1,452.25)
7760 Accounting and EDP costs (1,191.05)
7790 Costs of monetary transactions (156.47)
7802 Cent correction 0.06
----------
(8,689.33)
TOTAL OTHER OPERATING EXPENSES (30,296.55)
6. OPERATING PROFIT 201,674.74
7. OTHER INTERESTS AND SIMILAR INCOME
8100 Interest from bank deposits 3.23
----------
3.23
----------
15
8. INTERESTS AND OTHER EXPENSES
8320 Interest on arrears and reminder fees (23.24)
----------
(23.24)
----------
9. OPERATING INCOME (20.01)
10. INCOME FROM ORDINARY BUSINESS
ACTIVITIES
201,654.73
11. INCOME AND REVENUE TAX
8500 Corporate tax (50,413.00)
8510 Capital gains tax (0.81)
12. ANNUAL PROFIT (+)
ANNUAL (LOSS) (-) 151,240.92
13. ANNUAL PROFIT/(LOSS) 151,240.92
14. NET PROFIT
NET (LOSS) (-) 151,240.92
16
APPENDIX
of
Ulisse GmbH
Innsbruck
for the fiscal year
from 01/20/2015 to 12/31/2015
17
Accounting and valuation methods
General principles
The annual financial statement was prepared based on the rules of UGB.
The annual financial statement was prepared based on generally accepted
accounting principles and in accordance with a general norm to provide a
truthful picture of assets, financial and income situation.
The principle of completeness was followed in preparing this financial
statement.
Individual valuation was used for the valuation of assets.
Furthermore, going concern principle was used for the valuation.
Principle of prudence was used so that only the profits as on the cut-off date
are shown. Identifiable risks and potential losses, which are applicable for the
fiscal year or earlier, were taken into consideration even if such circumstances
have come into force between the cut-off date and date when this financial
statement was prepared.
Receivables and liabilities in foreign currency were calculated with the foreign
exchange rate as on the reporting date, if there is any revaluation involved.
Amounts without current information are EURO amounts.
18
Notes to the balance sheet
Assets
The trend of individual items of the assets and depreciation based on individual
items is presented in the asset analysis. All detailed evaluations (inflow and
outflow) are attached as enclosures to this report.
Fixed assets
The fixed assets are valued at procurement and manufacturing costs, which are
then reduced by planned depreciation.
Linear depreciation is used.
The service life for the individual items stated in the enclosed list of
appendices is used as a basis for planned depreciation.
Following service life is used for the planned depreciation:
Years Percent
Operating and office equipment 3 33.33
Low-value assets
Benefit in accordance with Article 13 of EStG [Income Tax Act] is used for
low-value assets amounting to EUR 916.50.
A valuation reserve in accordance with Article 13 of EStG is not used as it is
not significant in this instance.
Reserves
Services not yet invoiced
The services not yet invoiced on the reporting date have been listed by our
client separately and have been taken into the valuation as they can be invoiced
in the initial months of the following year without any losses.
The valuation of services not yet invoiced is done at average procurement and
manufacturing costs at lower daily values.
Provisions
Status 01/20 Inflow Outflow Status 12/31
EUR EUR EUR EUR
Provision for corporate tax 0.00 49,163.00 0.00 49,163.00
Provision of unutilized
vacation entitlement 0.00 2,004.49 0.00 2,004.49
Provision for accounting
work 0.00 2,500.00 0.00 2,500.00
Total 0.00 53,667.49 0.00 53,667.49
19
Other expenses
Members of the Board of Directors
Following person(s) is/are appointed as managing director(s):
Luca Pasquini
Number of employees
The average number of employees during the fiscal year, categorized into
employees and managers:
Fiscal year
Employees 0
Managers 2
Total 2
Annual financial statement signed by the managing director
Inzing, 08/10/2016 /s/ Luca Pasquini
-----------------
Luca Pasquini
20
ENCLOSURES TO THE APPENDIX
21
ASSET ANALYSIS
Account Description Value Inflow Outflow Rebooking Final value
01/01/2015 31/12/2015
TANGIBLE ASSETS
660 Operating and office equipment 0.00 3,329.00 0.00 0.00 3,329.00
------------------------------------------------------
TANGIBLE ASSETS 0.00 3,329.00 0.00 0.00 3,329.00
------------------------------------------------------
TOTAL 0.00 3,329.00 0.00 0.00 3,329.00
Account Description Depreciation Book value Book value Total
01/01/2015 12/31/2015
TANGIBLE ASSETS
660 Operating and office equipment 994.66 0.00 2,384.34 944.66
---------------------------------------------------------
TANGIBLE ASSETS 994.66 0.00 2,384.34 944.66
---------------------------------------------------------
TOTAL 994.66 0.00 2,384.34 944.66
DETAILED ASSET ANALYSIS
Inv Description Procurement Value ND Inflow Outflow Rebooking Procurement value
Date 01/01/2015 31/12/2015
660 Operating and office equipment
1-0 Notebook TECRA Z40-A-11W
C15-4300U 03/25/2015 0.00 3 1,064.00 0.00 0.00 1,064.00
2-0 Notebook TECRA Z40-A-15V
C15-4310U 03/25/2015 0.00 3 1,275.00 0.00 0.00 1,275.00
3-0 Notebook Tecra Z50-A-15P 08/04/2015 0.00 3 990.00 0.00 0.00 990.00
Operating and office equipment 0.00 3,329.00 0.00 0.00 3,329.00
------------------------------------------------------------------------------------
Total 0.00 3,329.00 0.00 0.00 3,329.00
22
Inv Description Appreciation Depreciation Book value Book value Total Invest
01/01/2015 12/31/2015 Depreciation
660 Operating and office equipment
1-0 Notebook TECRA Z40-A-11W
C15-4300U 0.00 354.66 0.00 709.34 354.66
2-0 Notebook TECRA Z40-A-15V
C15-4310U 0.00 425.00 0.00 850.00 425.00
3-0 Notebook Tecra Z50-A-15P 0.00 165.00 0.00 825.00 165.00
Operating and office equipment 0.00 944.66 0.00 2,384.34 944.66
---------------------------------------------------------------------------------
Total 0.00 944.66 0.00 2,384.34 944.66
ASSET ADDITIONS
Account Inventory Description Procurement Commission. Procurement ND Depreciation Inv. 12-
Date Date Value Basis Amount Surcharge
660 1-0 Notebook TECRA Z40-A-11W
/C15-300U 03/25/2015 03/25/2015 1,064.00 3 1,064.00 0.00 0.00
660 2-0 Notebook TECRA Z40-A-15V
/C15-300U 03/25/2015 03/25/2015 1,275.00 3 1,275.00 0.00 0.00
660 3-0 Notebook TECRA Z50-A-15P 04/0/2015 04/0/2015 990.00 3 990.00 0.00 0.00
Operating and office equipment 3,329.00 3,329.00 0.00 0.00
--------------------------------------------------------------------------------
Total 3,329.00 3,329.00 0.00 0.00
DEPRECIATION FORECAST
Account Description FY2015 FY2015 FY2017 FY2018 FY2019 FY2020
660 Operating and office equipment 944.66 1,109.67 1,109.53 164.93 0.00 0.00
-----------------------------------------------------------------
Total 944.66 1,109.67 1,109.53 164.93 0.00 0.00
23
Capital Flow Calculation
Liquid funds 12/31/2015 01/01/2015
EUR EUR
2801 Hypo
AT785700030053405310 101,817 -
Total liquid funds 101,817 -
Changes to liquid funds: 101,817
Profit according to P&L statement 151,241
plus:
Expenses not related to cash:
Write-offs 945
Write-offs on financial assets -
minus:
Income not related to cash: -
Changes to net current assets
Changes to stock -
Changes to services not yet invoiced 135,00
Changes to customer payments -
Changes to receivables from subsidiaries -
Changes to other receivables 5,164
Changes to ARAP -
Changes to trade payables 1,196
Changes to provisions 53,667
Changes to other liabilities, cleaning accounts 5,653 82,040
---------------------
1. Net cash flow from ongoing business activities 70,146
Investments 3,329
Book value fixed assets -
--------
2. Net cash flow from investment activities 3,329
Payment of share capital 35,000
Loan: -
Change (load repayment) -
Change current account (liabilities) -
Dividends -
--------
3. Net cash flow from financing activities 35,000
Cash Flow (= changes liquid funds = total from 1.-3.) 101,817
--------
24
Evidence account in accordance with Article 4 (12) of EStG
Accounts acc.
to financial
statement 01/01/2015 Inflow Outflow Rebooking 12/31/2015
EUR EUR EUR EUR EUR EUR
External financing:
Nominal capital 35,000.00 - 35,000.00 35,000.00
Capital reserves
Retained earnings
Net profit
------------------------------------------------------------------------------
Total 35,000.00 - 35,000.00 35,000.00
Internal financing:
Net profit 151,240.92 - 151,240.92 151,240.92
------------------------------------------------------------------------------
Total 151,240.92 - 151,240.92 - 151,240.92
------------------------------------------------------------------------------
Total share capital 186,240.92 - 186,240.92 - 186,240.92
25
Tax calculation EUR
Annual profit acc. to profit & loss statement 151,240.92
Additions
Corporate tax 50,413.00
Capital gains tax 0.81 50,413.81
Deductions
Assessment basis corporate tax 201,654.73
Corporate tax calculation
Annual profit acc. to tax calculation 201.654.73
Calculation
Profit x 25 % 50,413.68
Minimum corporate tax 2015
Minus Advance payments
Corporate tax advance payment 1,250.00
Capital gains tax 0.81 1,250.81
Rounding 0.13
Corporate tax payment 2015 49,163.00
26
VAT calculation
EUR
Total of assessment basis -
Plus own consumption -
Para. 19 (1a) (building services)
Minus exports -
Minus ig deliveries -
Taxable services, deliveries and own consumption -
Taxable:
with 20% normal tax rate - 20% -
with 10% reduced tax rate - 10% -
Tax liability acc. to Para. 19/1/2 and Art.19/1/3/ Art.25/5 1,280.00
Intra-community acquisitions -
Total of assessment basis 1,534.00
---------
1,534.00
Taxable thereof:
with 20% normal tax rate 1,534.00 20% 306.80
with 10% reduced tax rate - 10%
-----------
Total VAT and income tax 1,586.80
Total amount of pre-tax 16,482.87
Import VAT -
Pre-tax from intra-community acquisitions 306.80
Pre-tax Par 19/1/2 and Art.19/1/3/ Art.25/5 1,280.00
---------
Total pre-tax to be deducted 18,069.67 18,069.67
Advance payment / surplus 16,482.87
Advance payments made 16,482.87
-----------
VAT liability for 2015 -
----------
