- Home /
- Financial data /
- Consolidated financial statements 2011 /
- Notes to the financial statements /
- 25. Non-current receivables
- LOTOS Annual Report 2011 /
- Home /
- Financial data /
- Consolidated financial statements 2011 /
- Notes to the financial statements /
- 25. Non-current receivables
25. Non-current receivables
| PLN '000 | Dec 31 2011 | Dec 31 2010 |
|---|---|---|
| Receivables under franchise agreements (1), including: | 7,659 | 11,198 |
| - receivables under start-up packages | 4,041 | 5,623 |
| Investment receivables | 630 | 1,044 |
| Security deposits receivable | 20,919 | 12,594 |
| Other receivables | 4,105 | 3,776 |
| Net receivables | 33,313 | 28,612 |
| Impairment losses on receivables | 17,236 | 141 |
| Gross receivables | 50,549 | 28,753 |
(1) Non-current receivables under franchise agreements represent mainly the expenditure on branding DOFO service stations, operated by dealers under 5-10 year contracts.
Impairment losses on receivables
| PLN '000 |
Year ended Dec 31 2011 |
Year ended Dec 31 2010 |
|---|---|---|
| At beginning of the period | 141 | - |
| Increase, including: | 17,157 | 141 |
| - acquisition of control over the AB LOTOS Geonafta Group | 16,083 | - |
| - exchange differences on translation of foreign operations | 1,074 | - |
| Release | (62) | - |
| At end of the period | 17,236 | 141 |
The table below presents the age analysis of receivables under start-up packages as at December 31st 2011 and December 31st 2010:
| PLN '000 | Dec 31 2011 | Dec 31 2011 |
|---|---|---|
| Over 1 year to 2 years | 1,920 | 1,871 |
| Over 2 years to 5 years | 2,121 | 3,752 |
| Over 5 years to 10 years | - | - |
| Total | 4,041 | 5,623 |
This is a translation of a document originally issued in Polish.