I.A. Hedin Bil - Annual Report 2018 1
NOTE 11 PREPAID EXPENSES AND ACCRUED INCOME Prepa
id rent Other 12/31/2018 1,539 1,292 2,831 NOTE 12 UNTAXED RESERVES 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 12/31/2018 Long term debt Bond loans Subordinated loan from Parent Company Short-term debt Overdraft facilities 1,491,000 350,000 1,841,000 1,049,612 1,049,612 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 12/31/2018 50 50 NOTE 16 CONTINGENT LIABILITIES Guarantee for subsidiaries 12/31/2018 116,000 116,000 12/31/2017 116,000 116,000 12/31/2017 None None 12/31/2018 8,580 11,569 3,336 23,485 12/31/2017 9,038 11,509 2,660 23,207 12/31/2017 1,488,600 350,000 1,838,600 262,627 262,627 The Group has an overdraft facility of kSEK 1,205,000 (kSEK 865,000), which is renegotiated on an annual basis. The fair value of the borrowing corresponds to its carrying amount, since the discount effect is not significant. The total loans run at variable margins of approx. 1.5-3.5 percent. 12/31/2018 5,600 11,700 17,200 2,503 37,003 12/31/2017 5,600 11,700 0 1,268 18,568 12/31/2017 1,465 1,519 2,984 84 I.A. HEDIN BIL AB / ANNUAL REPORT / 2018