Page 104 - Annual_Report_2016
P. 104
Financial Statements aia.gr
c) Year end balances arising from sales/purchases of services and rental fees 2016 2015
Year end balances arising form sales/purchases of services and rental fees 11,458,543 5,576,912
Trade and other receivables: 0 16,772
Greek State 11,458,543 5,593,684
Trade and other payables:
AviAlliance Group
Total
d) Key management compensation
Key management includes personnel authorised by the Board of Directors for planning, directing and
controlling the activities of the Company. Compensation paid or payable to key management for employee
services rendered is shown below:
Analysis of BoD and key management compensation 2016 2015
Board of directors’ fees 481,700 484,080
Short-term employment benefits of key management 1,645,767 1,645,430
Total BoD and key management compensation 2,127,467 2,129,510
5.31 Reclassifications
In the comparative figures of the Income Statement, an amount of €924,000 has been reclassified from
“Other operating expenses” to “Net provisions and impairment losses”, to conform to current period
presentation. Also in the comparative figures of the Statement of Financial Position, an amount of
€379,506 has been reclassified from “Trade receivables” to “Other receivables”, to conform to current
period presentation.
5.32 Events after the balance sheet date
a) The Decisions of the Administrative Court of Appeals 804/2017 and 807/2017 regarding the real
property tax assessments for the fiscal year 2013 have been notified to the Company on 8 February
2017, by which the Court accepted the appeals of the Company and ordered the annulment of the real
property tax of this year. For more details refer to note 5.29, item “Property taxes”.
b) The Decisions of the Administrative Court of Appeals 1048/2017 and 1047/2017 regarding the real
property tax assessments for the fiscal years 2008 and 2009 respectively have been notified to the
Company on 2 March 2017, by which the Court accepted the appeals of the Company and ordered the
annulment of the real property tax of these years. For more details refer to note 5.29, item “Property
taxes”.
c) The decisions of the Administrative Court of Appeals 1665/2017 and 1666/2017 regarding the VAT
assessments for the fiscal years 2010 and 2011 respectively have been notified to the Company on 30
March 2017, by which the Court accepted the appeals of the Company and ordered the annulment of
the VAT of these years. For more details, refer to note 5.29, item “Value Added Tax”.
d) The hearing for the Company’s annulment petition before the Conseil d’Etat, for the cassation of the
decision of the Administrative Court of Appeals for the “special once off tax surcharge” imposed on the
profits generated by legal entities in fiscal year 2008, initially set for 31 May 2017 has been postponed
for 6 December 2017. For more details refer to note 5.29, item “Income Tax”.
e) As described in Note 1, on 30 May 2017 the BoD of HRADF approved AIA’s financial offer for the
extension of the concession. The Concession Extension process has still been underway.
Financial Statements as at 31 December 2016 (Amounts in Euros unless otherwise stated)
57 of 57
c) Year end balances arising from sales/purchases of services and rental fees 2016 2015
Year end balances arising form sales/purchases of services and rental fees 11,458,543 5,576,912
Trade and other receivables: 0 16,772
Greek State 11,458,543 5,593,684
Trade and other payables:
AviAlliance Group
Total
d) Key management compensation
Key management includes personnel authorised by the Board of Directors for planning, directing and
controlling the activities of the Company. Compensation paid or payable to key management for employee
services rendered is shown below:
Analysis of BoD and key management compensation 2016 2015
Board of directors’ fees 481,700 484,080
Short-term employment benefits of key management 1,645,767 1,645,430
Total BoD and key management compensation 2,127,467 2,129,510
5.31 Reclassifications
In the comparative figures of the Income Statement, an amount of €924,000 has been reclassified from
“Other operating expenses” to “Net provisions and impairment losses”, to conform to current period
presentation. Also in the comparative figures of the Statement of Financial Position, an amount of
€379,506 has been reclassified from “Trade receivables” to “Other receivables”, to conform to current
period presentation.
5.32 Events after the balance sheet date
a) The Decisions of the Administrative Court of Appeals 804/2017 and 807/2017 regarding the real
property tax assessments for the fiscal year 2013 have been notified to the Company on 8 February
2017, by which the Court accepted the appeals of the Company and ordered the annulment of the real
property tax of this year. For more details refer to note 5.29, item “Property taxes”.
b) The Decisions of the Administrative Court of Appeals 1048/2017 and 1047/2017 regarding the real
property tax assessments for the fiscal years 2008 and 2009 respectively have been notified to the
Company on 2 March 2017, by which the Court accepted the appeals of the Company and ordered the
annulment of the real property tax of these years. For more details refer to note 5.29, item “Property
taxes”.
c) The decisions of the Administrative Court of Appeals 1665/2017 and 1666/2017 regarding the VAT
assessments for the fiscal years 2010 and 2011 respectively have been notified to the Company on 30
March 2017, by which the Court accepted the appeals of the Company and ordered the annulment of
the VAT of these years. For more details, refer to note 5.29, item “Value Added Tax”.
d) The hearing for the Company’s annulment petition before the Conseil d’Etat, for the cassation of the
decision of the Administrative Court of Appeals for the “special once off tax surcharge” imposed on the
profits generated by legal entities in fiscal year 2008, initially set for 31 May 2017 has been postponed
for 6 December 2017. For more details refer to note 5.29, item “Income Tax”.
e) As described in Note 1, on 30 May 2017 the BoD of HRADF approved AIA’s financial offer for the
extension of the concession. The Concession Extension process has still been underway.
Financial Statements as at 31 December 2016 (Amounts in Euros unless otherwise stated)
57 of 57
