Page 23 - Financial Statements 2014, 2015 & 2016

Financial Statements AGS Aviation Ground Services N.V.
6. Notes to the financial statements Financial statements 2014

Tangible fixed assets

2014 2013
Tangible fixed assets in AWG in AWG

Furniture & office equipment - 9,460
Vehicles 3,000 12,000

Total tangible fixed assets 3,000 21,460

The movement in tangible fixed assets can be presented as follows:

Furniture &
Tangible fixed assets office equipment Vehicles Total
AWG AWG AWG
Cost price
Cost price Jan. 1, 2014 10,320 27,000 37,320
Investments 2014 - - -
Disposals 2014 (6,020) - (6,020)
Cost price Dec. 31, 2014 4,300 27,000 31,300

Depreciation
Accum. depr. Jan. 1, 2014 860 15,000 15,860
Depreciation 2014 3,440 9,000 12,440
Disposals depreciation 2014 - - -
Accum. depr. Dec. 31, 2014 4,300 24,000 28,300

Bookvalue Dec. 31, 2014 - 3,000 3,000

Bookvalue Dec. 31, 2013 9,460 12,000 21,460

Tangible fixed assets are depreciated on a straight-line basis over the estimated useful lives of
each item of tangible assets. The following depreciation periods are applied:
Furniture, fixtures & equipment: 3 - 5 years
Vehicles: 5 years
A residual value of 10% is taken into consideration while calculating depreciation.

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