Consolidated financial statements of the f. I. L. A
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- Note 5 - Investments Measured at Cost
- December 31, 2015 14,032
- December 31, 2016 20,842 Change 6,810 Note 6.A - CHANGES IN DEFERRED TAX ASSETS
- Total deferred tax assets 20,842 7,051 14,032 (313) 1,782 72 380 2015
Consolidated Financial Statements of the F.I.L.A. Group Separate Financial Statements of F.I.L.A. S.p.A. 102 Note 5 - Investments Measured at Cost The Investments measured at cost, amounting to Euro 31 thousand, relate to the shareholding in Maimeri S.p.A. by F.I.L.A. S.p.A. for a value of Euro 28 thousand, corresponding to 1% of the share capital, and the quota held in the consortiums Conai, Energia Elettrica Zona Mugello and Energia Elettrica Milano by F.I.L.A. S.p.A. at December 31, 2016. Note 6 – Deferred Tax Assets “Deferred Tax Assets” amount to Euro 20,842 thousand at December 31, 2016 (Euro 14,032 thousand at December 31, 2015). The movement of “Deferred Tax Assets” is illustrated in the table below with indication of the opening balance, changes during the year and the closing balance at December 31, 2016. Euro thousands December 31, 2015 14,032 Provisions 10,107 of which Change in Consolidation Scope 1,755 Utilisations (10,420) of which Change in Consolidation Scope (1,654) Change in consolidation scope 7,051 Translation differences (133) Change in Equity 205 December 31, 2016 20,842 Change 6,810 Note 6.A - CHANGES IN DEFERRED TAX ASSETS The account at December 31, 2016 mainly includes deferred tax assets calculated on “Intangible and Tangible Assets”, “Personnel”, “Risk and Charges Provisions not deductible”, “ACE” and “Inventories”. The table below illustrates the breakdown of deferred tax assets based on the nature of the provision: Consolidated Financial Statements of the F.I.L.A. Group Separate Financial Statements of F.I.L.A. S.p.A. 103 Euro thousands 2016 Contribution from Change in Consol. Scope 2016 2015 2016 2015 Intangible Assets 865 - 928 (63) (176) - - Property, Plant and Equipment 1,035 748 776 (489) 264 - - Provisions for Risks 539 - 160 379 5 - - Trade and Other Receivables 1,041 25 1,109 (93) 360 - - Inventories 4,712 619 2,252 1,841 1,154 - - Personnel 2,033 1,347 948 (467) (81) 205 41 Exchange adjustments 53 - 51 2 31 - - Dividends Dixon Ticonderoga Inc. (Canada) 1,401 - 1,485 (84) (79) - - Translation reserve difference (133) - 339 (339) (437) (133) 339 Other 3 770 116 (883) (23) - - Tax Losses Carried Forward 3,399 3,149 1,656 (1,406) (1,072) - - Deferred deductible costs 2,576 393 1,946 237 937 - - ACE 3,317 - 2,266 1,051 899 - - Total deferred tax assets 20,842 7,051 14,032 (313) 1,782 72 380 2015 NOTE 6.B - BREAKKDOWN OF DEFERRED TAX ASSETS Statement of Financial Position Income Statement Equity The provisions for deferred tax assets amount to Euro 20,842 thousand and mainly refer to the Parent F.I.L.A. S.p.A. (Euro 5,371 thousand), to the subsidiary Dixon Ticonderoga Company (U.S.A. - Euro 3,814 thousand) and Canson SAS (France, Euro 3,076 thousand). The movement in the year, in addition to a net effect to the income statement of Euro 313 thousand, is principally due to the change in the consolidation scope, with a total contribution at the acquisition date of Euro 7,051 thousand. In addition, following the favourable opinion issued by the Tax Agency concerning the acceptance of the application to carry forward to subsequent years prior year tax losses generated by the company Space S.p.A. in the first period of the year (January 1, 2015 - May 31, 2015), in addition to the previous year, amounting to approx. Euro 16 million, F.I.L.A. S.p.A. recognised to the financial statements Euro 4,390 thousand of deferred tax assets not prudently recognised to the financial statements at December 31, 2015 as subject to consultation and whose outcome was uncertain at the preparation date of the financial statements (it is noted that the company Space S.p.A. did not recognise in the above-stated years these deferred tax assets as the requirements for future recoverability did not exist due to the nature of the business). The amount recognised of Euro 4,390 thousand was subject to reversal in the same year of recognition in coverage of the IRES assessable income generated in 2016. The deferred tax assets were recognised by each company of the Group assessing the projected future recovery of these assets, presently considered very probable, on the basis of updated strategic plans and relative tax planning. Yüklə 7,21 Kb. Dostları ilə paylaş:
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