Ubisoft 2012 Annual Report Download - page 148
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Financial Statements
2012
143
Note 10. Prepaid expenses and deferred charges
Opening
balance
Increase
Decrease
Closing
balance
Prepaid expenses
2,707
4,568
2,707
4,568
Syndicated loan issuance costs
574
100
319
355
Conversion rate adjustment (assets)
591
148
591
148
TOTAL at 03/31/12
3,872
4,816
3,617
5,071
TOTAL at 03/31/11
2,374
3,578
2,080
3,872
Note 11. Accrued expenses
03/31/12
03/31/11
Bank charges payable
142
509
Interest accrued on current accounts
56
45
Trade payables, invoices pending
53,585
73,296
Credit notes to be issued
14,114
4,598
Fiscal and social debts
920
737
TOTAL
68,817
79,185
Note 12. Related party transactions
The main relationships of the parent company with its subsidiaries relate to:
- Production subsidiaries billing the parent company for development costs based on the
progress of their projects;
- The parent company invoicing distribution subsidiaries for a contribution to development costs;
- The implementation of cash agreements allowing for centralized management at parent
company level of the bank accounts of the majority of the Group companies.
The five corporate officers of the Company are described as related parties. The only transactions with
officers concern their pay, the granting of stock options and directors’ fees. Information relating to
these transactions with officers is detailed in note 3.6.3.
The other significant related party transactions are:
- Licenses invoiced to Gameloft SA for €1,504 thousand over the financial year. The receivable
balance at year-end is €75 thousand;
- The amounts paid in respect of development contracts with AMA Studios SA and Longtail
Studios Inc. totaling €3,125 thousand. The payable balance at the year-end is
€1,695 thousand. The amount of the assets in the balance sheet is €8,722 thousand.