Ubisoft 2002 Annual Report Download - page 54

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2003
54
FINANCIAL
REPORT
VII.Trade receivables
Trade receivables break down as follows:
All receivables have a maturity of less than one year.
03.31.03 03.31.02
Gross Provisions Net Net
Trade receivables 155,451 2,147 153,304 106,478
TOTAL 155,451 2,147 153,304 106,478
VIII.Other receivables,accruals and deferrals
Other receivables break down as follows:
03.31.03 03.31.02
Gross Amort/ Net
Deferred tax assets * 17,254 - 17,254* 14,185
Deferred tax assets, consolidation adjustments (1) 7,506 - 7,506 1,129
Current account advances 8,571 106 8,465 3,918
VAT 21,541 - 21,541 7,659
Other tax and social security liabilities 10,790 259 10,531 14,141
Credits receivable from suppliers 1,553 - 1,553 1,732
Suppliers – debit balances 1,144 - 1,144 4,376
Others 24,167 - 24,167 136
Prepaid expenses 3,463 - 3,463 3,424
Charges to be spread over several years 2,396 - 2,396 4,173
Conversion rate adjustments - - - 9
Redemption premium (2) 7,437 - 7,437 15,294
TOTAL 105,822 365 105,457 70,176
IX. Investment securities
Investment securities break down as follows
The increase in trade receivables is related to the highly seasonal nature of our sales in the fourth quarter of the fiscal year.
Investment securities are booked at acquisition cost. At year-end,any capital losses are provisioned.
The company made a commitment to dispose of directly held shares exceeding 1% of its stock before September 30,2003.
(1) Leasing 64
Temporary tax differences 2,598
Depreciation of business assets 1,346
Elimination of inter-company profit and loss 3,209
Reciprocal elimination 289
03.31.03 03.31.02
Nature Gross value Provision Net value Net value
Own shares 35,394 22,948 12,446 18,539
Investment funds 11,765 - 11,765 21,826
TOTAL 47,159 22,948 24,211 40,365
(2) The original amount of the redemption premium of the convertible exchangeable bonds (OCEANES)
taken to assets is K€16,380.
This premium is amortized in proportion to accrued interest, i.e.K€2,699 on March 31, 2003.
Moreover, the buy-back of 1,200,699 bonds resulted in a decrease in the redemption premium of K€6,244.
The net redemption premium as of March 31, 2003 was K€7,437.
* including deferred depreciation (ARD) carried forward indefinitely: K€13,583