Supercuts 2010 Annual Report Download - page 213
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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)
25. OFF-BALANCE SHEET COMMITMENTS (Continued)
26. SCHEDULE OF FUTURE LEASE PAYMENTS
The Group's real-estate lease payments relate to renewable commercial lease agreements with variable rents based on revenue and an
indexation clause.
200
Off-balance
sheet
commitments
at
Dec. 31, 2009
Off-balance
sheet
commitments
at
Dec. 31, 2008
Purpose
Bank/Beneficiary
Loan—Provalliance joint and several
guarantee and pledge of a business base
134,921
CA
Loan—Provalliance joint and several
guarantee and pledge of a business base
5,210,000
BECM
Loan—Elexia joint and several guarantee
and pledge of a business base
165,500
227,500
BECM
Loan—Elexia joint and several guarantee
and pledge of a business base
27,292
126,757
SG
Loan
—
pledge of shares
28,199,628
19,322,960
Miscellaneous
banks
Loan—pledge of equity interests and
business bases
18,688,293
10,660,794
Guarantees for the repayment of
borrowings
Miscellaneous
banks
Real estate leases (see Note 26)
72,469,601
71,466,962
Lease agreements
Multiple lessors
Interest rate swap (see Note 27)
NM
NM
Interest rate swap agreements
BRED and BECM
Deposits for rental payments, charges and
incidental expenses(1)
NM
NM
Guarantees for rental payments and
incidental expenses
Multiple lessors
Accrued interest
7,116,697
9,062,898
All banks
Two call options on two groups (33 salons
in total)
NM
NM
TOTAL
153,853,000
137,168,073
(1)
Deposits for rental payments, charges and incidental expenses relate to the following salons that do not form part of the consolidated Group: Hair Rivoli, Hair
Brie, Hair Clichy, CSC Meaux, Hair St
-
Jean, Sarl Kanaan, Eurl Pecher, Salsa La Guenne, Vigneau Coiffure, Bagboy and Sechao Beauté.
Total amount due Due within 1
year Due in 1 to 5
years Due beyond 5
years
Real estate lease payments
72,469,601
15,871,044
37,442,359
19,156,198
TOTAL
72,469,601
15,871,044
37,442,359
19,156,198