I.A. Hedin Bil - Annual Report 2018 1
NOTE 16 ACCOUNTS RECEIVABLES Due date Not due Pas
t due up to 30 days Past due 30-60 days Past due more than 60 days The maximum exposure of credit risk at end of the year for accounts receivables are the amounts disclosed. The fair value of the accounts receivables is the carrying amount, as the discount factor is insignificant. No accounts receivables have been pledged apart from disclosed 12/31/2018 434,782 198,773 33,805 49,443 716,803 12/31/2017 348,779 198,405 23,177 20,546 590,907 in Pledged assets, note 23. The loss risk is estimated to kSEK 9,700 (kSEK 6,200). NOTE 17 PREPAID EXPENSES AND ACCRUED INCOME Accrued bonus from suppliers Prepaid rent Other items Total NOTE 18 CASH AND CASH EQUIVALENTS Cash and bank balances 12/31/2018 99,724 99,724 NOTE 19 PENSIONS Opening carrying amount Pension payments Interest Revaluation due to changes in financial assumptions Revaluation due to experience-based adjustments Defined benefit pension plans For white collar professionals in Sweden, the ITP 2 plan's defined benefit pension commitments for retirement and family pensions are secured through the insurance with Alecta. According to a statement from the Financial Reporting Board, UFR 10 Classification of ITP plans funded through an insurance in Alecta, a defined benefit plan covers several employers. The company has not had access to information and therefore could not report its proportional share of the plan’s liabilities, management assets and expenses. This meant that the plan could not be reported as a defined benefit plan. Therefore, the pension plan ITP 2, secured through insurance in Alecta, is reported as a defined contribution plan. Sensitivity analysis Discount rate Inflation Life span The premium for the defined-benefit retirement and family pension is individually calculated and depends, inter alia, on the salary, previously earned retirement and expected remaining retirement period. The annual pension insurance contributions in Alecta amount to kSEK 29,473 (kSEK 19,010). The Group has also defined benefit plans in Sweden and these are secured through FPG/PRI. These plans are closed and no new earnings are made. The pension liabilities for these amount to 87,090 (89,094). For the actuarial calculations, a discount rate of 2.0 percent (2.05 percent) and an inflation of 2.0 percent (1.9 percent) have been applied. The duration of the commitment is approx. 11 years. Assumption +0,5% +0,5% +1 year Change -4,632 4,996 3,939 12/31/2018 89,094 -5,520 1,793 1,422 301 87,090 12/31/2017 87,071 -5,411 1,951 4,386 1,097 89,094 12/31/2017 53,759 53,759 12/31/2018 188,818 113,917 81,815 384,550 12/31/2017 178,612 105,144 99,163 382,919 I.A. HEDIN BIL AB / ANNUAL REPORT / 2018 71