AI Annual Report 2019 1
NOTE 11 PREPAID EXPENSES AND ACCRUED INCOME Prepa
id rent Accrued income Prepaid rent NOTE 12 UNTAXED RESERVES Tax allocation reserve, assessment year 2016 Tax allocation reserve, assessment year 2017 Tax allocation reserve, assessment year 2018 Tax allocation reserve, assessment year 2019 Accumulated difference between tax depreciation and depreciation according to the plan NOTE 13 FINANCIAL DEBT 12/31/2019 Non-current borrowings Bond loans Subordinated loan from Parent Company Current borrowings Overdraft facilities 1,493,400 350,000 1,843,400 1,023,408 1,023,408 A bond loan has been issued to finance the business acquisitions. The loan runs for a period of 5 years at floating rate, and is listed on Nasdaq Stockholm. The lenders have made certain requirements regarding interest-bearing liabilities in relation to EBITDA, interest coverage and restrictions related to admission of new loans. The parent company Anders Hedin Invest AB has submitted a loan of kSEK 350,000. The loan runs without interest and is subordinated to other liabilities. The loan matures on 12/31/2022. NOTE 14 ACCRUED EXPENSES AND PREPAID INCOME Personnel costs Accrued interest expenses Other NOTE 15 PLEDGED ASSETS Shares in subsidiaries 12/31/2019 50 50 NOTE 16 CONTINGENT LIABILITIES Guarantee for subsidiaries 12/31/2019 112,000 112,000 12/31/2018 116,000 116,000 12/31/2018 50 50 12/31/2019 9,760 12,568 3,945 26,273 12/31/2018 8,580 11,569 3,336 23,485 12/31/2018 1,491,000 350,000 1,841,000 1,049,612 1,049,612 The Group has an overdraft facility of kSEK 1,225,000 (kSEK 1,205,000), which is renegotiated on an annual basis. The fair value of the borrowing corresponds to the carrying amount, since the discount effect is not significant. The total borrowings run at variable margins of approx. 1.2 - 3.8%. 12/31/2019 5,600 11,700 17,200 9,200 956 44,656 12/31/2018 5,600 11,700 17,200 0 2,503 37,003 12/31/2019 1,518 305 2,747 4,570 12/31/2018 1,539 0 1,292 2,831 I.A. HEDIN BIL AB / ANNUAL REPORT / 2019 79