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FINANCIAL STATEMENTS
4.27 Trade & other payables 2009 2008
Trade & other payable accounts are analysed as follows: 14.677.088 12.292.691
17.397.561 5.191.283
Analysis of trade & other payable accounts 16.285.732
Suppliers 14.861.021
Advance payments from customers 1.734.941 926.535
Beneficiaries of money – guarantees 2.235.897
Value added tax 1.000.000 2.266.364
Other taxes payable and payroll withholdings 1.000.000
Grants of rights fee payable 140.290
Other payables 35.790
53.471.509
Total trade & other payable accounts 36.573.685
The amount shown above for Suppliers represents the short term liabilities of the Company towards its trade creditors
as at the corresponding year end for the goods bought and the services they had rendered in the respective year.
Advance payments from customers represent the prepayments effected by the airlines which have selected the “Rolling
prepayment” method in settling their financial obligations to the Company for the use of the airport facilities.
Beneficiaries of money – guarantees represent the cash guarantees provided by the concessionaires for the prompt fulfilment
of their financial liabilities arising from the signed concessions agreements. The cash guarantees are adjusted each year
in accordance with the latest estimate of the expected sales forecast of the concessionaires for the subsequent year.
The carrying amount of trade payables closely approximates their fair value at balance sheet date.
4.28 Other current liabilities 2009 2008
8.367.994 11.274.923
Other current liabilities are analysed as follows:
303.439 24.490
Analysis of other current liabilities
Accrued expenses for services and fees 8.671.434 11.299.413
Other 33.108 39.965
Total accrued expenses and deferred income
Obligations under finance leases 8.704.542 11.339.378
Total other current liabilities
The carrying amount of other current liabilities closely approximates their fair value at balance sheet date.
For obligations under finance leases refer to note 4.26.
4.29 Operating lease arrangements
The Company as a lessee
Operating lease payments represent rentals payable by the Company for certain of its vehicles. Leases are negotiated for
an average term of 4 years and rentals are fixed for the same period.
In the current year, minimum lease payments under operating lease, amounting to €245.849, were recognised in the
Income Statement, while the corresponding amount for the year 2008 was €244.383.
Financial Statements as at 31 December 2009 (Amounts in Euros unless otherwise stated) PAGE 64 OF 69
4.27 Trade & other payables 2009 2008
Trade & other payable accounts are analysed as follows: 14.677.088 12.292.691
17.397.561 5.191.283
Analysis of trade & other payable accounts 16.285.732
Suppliers 14.861.021
Advance payments from customers 1.734.941 926.535
Beneficiaries of money – guarantees 2.235.897
Value added tax 1.000.000 2.266.364
Other taxes payable and payroll withholdings 1.000.000
Grants of rights fee payable 140.290
Other payables 35.790
53.471.509
Total trade & other payable accounts 36.573.685
The amount shown above for Suppliers represents the short term liabilities of the Company towards its trade creditors
as at the corresponding year end for the goods bought and the services they had rendered in the respective year.
Advance payments from customers represent the prepayments effected by the airlines which have selected the “Rolling
prepayment” method in settling their financial obligations to the Company for the use of the airport facilities.
Beneficiaries of money – guarantees represent the cash guarantees provided by the concessionaires for the prompt fulfilment
of their financial liabilities arising from the signed concessions agreements. The cash guarantees are adjusted each year
in accordance with the latest estimate of the expected sales forecast of the concessionaires for the subsequent year.
The carrying amount of trade payables closely approximates their fair value at balance sheet date.
4.28 Other current liabilities 2009 2008
8.367.994 11.274.923
Other current liabilities are analysed as follows:
303.439 24.490
Analysis of other current liabilities
Accrued expenses for services and fees 8.671.434 11.299.413
Other 33.108 39.965
Total accrued expenses and deferred income
Obligations under finance leases 8.704.542 11.339.378
Total other current liabilities
The carrying amount of other current liabilities closely approximates their fair value at balance sheet date.
For obligations under finance leases refer to note 4.26.
4.29 Operating lease arrangements
The Company as a lessee
Operating lease payments represent rentals payable by the Company for certain of its vehicles. Leases are negotiated for
an average term of 4 years and rentals are fixed for the same period.
In the current year, minimum lease payments under operating lease, amounting to €245.849, were recognised in the
Income Statement, while the corresponding amount for the year 2008 was €244.383.
Financial Statements as at 31 December 2009 (Amounts in Euros unless otherwise stated) PAGE 64 OF 69
