UPL Polska Sp. z o.o. 8
Notes to the financial statements
for the period from 1 April 2015 to 31 March 2016
1 Receivables and claims Current year Previous year
Other entities: - -
taxation, state subsidy and social security receivables - 14 457,07
other debts - 2 587,59
Total receivables and claims - 17 044,66
2 Equity
3 Retained earnings (losses) brought forward Current year Previous year
Balance at the beginning of period 10 145,03 (152 575,65)
Balance at the beginning of period after adjustments 10 145,03 (152 575,65)
Balance at the end of period 10 145,03 (152 575,65)
4 Net profit (loss) for the year
5 Short-term accruals
6 Sales revenue Current year Previous year
(a) Analysis of sales revenue
Sales of goods for resale - -
Total sales revenue - -
Management Board proposal of covering the loss of the Company for 2015/2016 will be presented at the Annual
General Meeting of Shareholders.
Current year Previous year
Shareholders Number of shares Nominal value Number of shares Nominal value
UPL EUROPE LTD 100 5 000,00 100 5 000,00
Total 100 5 000,00 100,00 5 000,00
As at 1 April 2015 Increases Utilisation Decreases
As at 31 March
2016
Other provisions 18 687,60 18 141,84 (18 687,60) 18 141,84
Total accruals and deferred income 18 687,60 18 141,84 18 687,60 - - 18 141,84
UPL Polska Sp. z o.o. 9
Notes to the financial statements
for the period from 1 April 2015 to 31 March 2016
7 Corporate Income Tax Current year Previous year
Accounting Tax Reconciliations
Tax rate 19%
Current Taxation
Profit/(loss) before tax (29 019,10) 187 526,68
Permanent differences between accounting profit/(loss) and taxable profits: 2 135,72 35 605,99
Costs and losses which are excluded from income-earning costs by taxation
legislation, including: 2 135,72 35 605,99
Write-offs of receivables or overdue receivables 1 908,59 10 354,94
rounding 0,53 0,25
other 226,60 25 250,80
Profit/(loss) after adjustment for permanent differences (26 883,38) 223 132,67
Temporary differences between accounting profit/(loss) and taxable profits: 12 528,96 (12 451,78)
New differences arising during the period 31 216,56 18 687,60
decreases, including: 31 216,56 18 687,60
On temporary differences relating to write downs of assets 13 074,72 -Accruals 18 141,84 18 687,60
Prior period temporary differences utilised (18 687,60) (31 139,38)
decreases, including: (18 687,60) (38 236,51)
Accruals (18 687,60) (16 985,80)
Financial costs - (21 250,71)
increases, including: - 7 097,13
Financial income - 7 097,13
Taxable income (14 354,42) 210 680,89
Tax base (14 354,42) 130 557,50
Corporate Income Tax - 24 806,00
8 Tax movement
Corporate Tax liability as at 31.03.2015 24 806,00
Payment during 2015/2016 (24 806,00)
Corporate Tax liability as at 31.03.2016 -
9 Average number of employees
The Company does not employ staff.
UPL Polska Sp. z o.o. 10
Notes to the financial statements
for the period from 1 April 2015 to 31 March 2016
10 Transactions with related parties Current year Previous year
Receivables
UPL EUROPE LTD - -
Liabilities
UPL EUROPE LTD - 29 449,98
Liabilities write off
UPL EUROPE LTD 29 449,98 251 736,11
Loan write off
Agrichem Polska Sp. z o.o. - 10 354,97
Income
UPL EUROPE LTD - -
Purchases
UPL EUROPE LTD - -
11 Exchange rates used for valuation of items in foreign currencies Current year
EUR 4,2684
GBP 5,4078
12 Group exchange rates Current year
EUR 4,25650
GBP 5,38050
13 Other information
All other disclosure requirements contained in Schedule 1 of the Accounting Act of 29 September 1994 are not
applicable.