Managament Report of the Tallinn Stock Exchange 1997
 


Balance Sheet (in EEK),
Estonian Central Depository of Securities

Assets       31.12.97 31.12.96
Current assets      
Cash and accounts   51,908,960 1,526,686
  Cash and bank accounts 49,863,814 191,224
  Marketable securities 2,045,146 1,335,462
Customer receivables   1,458,280 1,129,207
  Accounts receivable 1,481,132 1,162,941
  Allowance for uncollectible receivables (minus) -22,852 -33,734
Prepaid expenses   311,946 248,645
  Prepaid taxes 0 0
  Other prepaid expenses 311,946 248,645
Total current assets   53,679,186 2,904,538
       
Noncurrent assets      
Long-term financial assets   19,545 19,545
      Other shares and securities 19,545 19,545
Noncurrent physical assets   2,528,145 1,824,552
  Other equipment and fixtures 4,116,063 2,528,437
  Accumulated depreciation (minus) -1,587,918 -703,885
Intangible assets   1,101,716 1,300,056
  Formation and organization costs 440,409 660,615
  Software 661,307 639,441
Total noncurrent assets   3,649,406 3,144,153
Total assets   57,328,592 6,048,691
       
LIABILITIES AND SHAREHOLDER'S EQUITY      
Current liabilities      
Debentures   0 1,000,000
Customer prepayments   5,265 16,237
Supplier payables   49,844,531 110,532
  Accounts payable 113,189 110,532
  Interest and amount of issue in the Bank of Estonia 49,731,342 0
Tax liabilities   722,235 262,151
Accrued expenses   248,331 154,899
  Salary-related accrued expenses 248,331 117,399
  Interest payable 0 37,500
Total current liabilities   50,820,362 1,543,819
       
Shareholders' equity      
Capitalstock   2,800,000 2,800,000
Paid-in-capital   80,000 80,000
Legal reserve   68,000 0
Retained earnings   1,556,872 274,365
Net profit (loss) for the financial year   2,003,358 1,350,507
Total shareholders' equity   6,508,230 4,504,872
Total liabilities and shareholders' equity   57,328,592 6,048,691


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