Supercuts 2010 Annual Report Download - page 209

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PROVALLIANCE SAS
CONSOLIDATED FINANCIAL STATEMETS
DECEMBER 31, 2009 AND 2008
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(INFORMATION AS OF DECEMBER 31, 2009 AND FOR THE YEAR THEN ENDED NOT
COVERED BY AUDITORS' REPORT INCLUDED HEREIN)
22. TAX CONSOLIDATION AND UNUSED TAX LOSSES (Continued)
At December 31, 2009 and 2008, no deferred tax assets were recognized for the following main unused tax losses as the Group deemed
that their recovery was not probable:
A tax benefit of €1,856,150 was therefore recorded in 2009.
23. NET CASH AND CASH EQUIVALENTS
24. IMPACT OF BUSINESS COMBINATIONS
197
Dec. 31, 2009 Dec. 31, 2008
—
Sorefico Coiffure(1)
5,568,449
11,526,845
—
Compagnie Générale de
Partenariat
2,769,556
1,797,604
(1) The total tax losses for the tax group headed by Sorefico Coiffure came to €10,278,029 at December 31,
2009. At that date the Group considered that the utilization of
€
5,568,449 of these losses was probable.
2009 2008 Year-on-year
change
Marketable securities
1,831,386
2,316,560
(485,174
)
Cash
15,104,631
19,446,769
(4,342,138
)
Bank overdrafts
(2,738,894
)
(8,264,984
)
5,526,090
TOTAL NET
CASH AND
CASH
EQUIVALENTS
14,197,123
13,498,345
698,778
Acquisitions
Cash and cash
equivalents
acquired Disposals
Cash and cash
equivalents
transferred Net impact
SA BOULOGNE shares
(9,750
)
(3,557
)
(13,307
)
HAIR TIFS shares
(451,130
)
(29,735
)
(480,865
)
SARL HECH—SERGIO
BOSSI shares
(332,402
)
(17,494
)
(349,896
)
GUERIN COIFFURE
(MANIATIS) shares
(4,505,000
)
3,212,221
(1,292,779
)
MARBEUF COIFFURE
(MANIATIS) shares
(1,005,000
)
580,859
(424,141
)
FORUM COIFFURE
(MANIATIS) shares
(497,500
)
364,893
(132,607
)
JMS SERVICES
(MANIATIS) shares
(7,500
)
118,011
110,511
TOTAL
(6,808,282
)
4,225,198
(2,583,084
)