Page 40 - Financial Statements 2014, 2015 & 2016

AVSERMA Aviations Services &
Financial Statements Management Co. N.V.
6. Notes to the financial statements Financial statements 2014

Tangible fixed assets

2014 2013
Tangible fixed assets in AWG in AWG

Furniture & fixtures 308 1,530

Total tangible fixed assets 308 1,530

The movement in tangible fixed assets can be presented as follows:
Furniture &
Tangible fixed assets fixtures Total
AWG AWG
Cost price
Cost price Jan. 1, 2014 54,711 54,711
Investments 2014 - -
Disposals 2014 - -
Cost price Dec. 31, 2014 54,711 54,711

Depreciation
Accum. depr. Jan. 1, 2014 53,181 53,181
Depreciation 2014 1,222 1,222
Disposals depreciation 2014 - -
Accum. depr. Dec. 31, 2014 54,403 54,403

Bookvalue Dec. 31, 2014 308 308

Bookvalue Dec. 31, 2013 1,530 1,530

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: 5 - 10 years
A residual value of 10% is taken into consideration while calculating depreciation.

Financial fixed assets

2014 2013
Financial fixed assets in AWG in AWG

Particpations
AGS Aviation Ground Services N.V., 75%, Aruba 760,000 660,000
Airport Ground Handling & Equipment
Leasing Services N.V., 100%, Aruba 1 1

Total financial fixed assets 760,001 660,001

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