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GB Auto and its subsidiaries (S.A.E.)
Notes to the consolidated financial statements For the financial Year ended December 31, 2014
(In the notes all amounts are shown in Thousand Egyptian Pounds unless otherwise stated)
25.Other reserves
Foreign
currency
translation
reserve
ESOP-Fair
value
Payments
under capital
increase
Fixed asset
evaluation
surplus
Special
reserve
Total
Balance as at 1 January 2014
(Restated)
56 231
53 628
(4 514)
2 498
970 584
1 078 427
Foreign currency translation dif-
ferences
(9 712)
-
-
-
-
(9 712)
Capital Increase
-
-
-
-
(1 931)
(1 931)
Balance at December 31, 2014
46 519
53 628
(4 514)
2 498 968 653 1 066 784
The special reserve represented in the transferred amount from the net share premium on 2007 less the amount transferred
to the legal reserve (Note 24).
During 2011, the special reserve was reduced by an amount of EGP 2 990 thousands which represents the difference between
treasury shares purchasing cost amounted to EGP 3 097 thousands and the par value of these shares amounted to 107 thou-
sands which was written off during 2012.
During 2012, the special reserve was reduced by an amount of EGP 2 114 thousands which represents the differences between
treasury shares purchasing cost amounted to EGP 6 365 thousands and its reselling price amounted to EGP 4 251 thousands.
26.Minority interest
Total
Capital
Reserves
Retained
earnings
December
31, 2014
December
31, 2013
Balance at 1 January
435 448
81 545
101 282
618 275
424 453
Reclassification
-
-
-
-
6 749
Net profit for the year
-
-
61 701
61 701
68 380
Currency translation differences
-
(1 703)
-
(1 703)
15 990
Capital increase
1 563
-
-
1 563
138 434
Transferred to legal reserve
-
348
(348)
-
-
Changing in minority without changing in
control
1 809
285
7 876
9 970
-
Dividends
-
-
(52 024)
(52 024)
(35 731)
Balance at the end of the year
438 820
80 485
118 487
637 782
618 275
27. Notes payables and creditors long-term
December 31, 2014
December 31, 2013
Present Value Notes Payable
Present Value Notes Payable
Total notes payables and creditors
143 458
143 458
132 581
132 581
Less than 1 year (Note 20)
(143 458)
(143 458)
(132 431)
(132 431)
-
-
150
150
28. Long-term deferred revenues
The long-term deferred revenues represents the difference between the sale price of plot of land and its carrying amount
which was sold and financially leased back. The resulted selling profit is recognized in the income statement over the lease
contract period which ends on May 2015.
Ghabbour Auto | 2014 ANNUAL REPORT
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