CONSOLIDATED FINANCIAL STATEMENTS
14. CASH AND CASH EQUIVALENTS
On December 31st 2016 and 2015, cash and cash equivalents are broken as follows:
Dec. 2016 Dec. 2015
Cash
2,556,736
694,890
Bank deposits
37,031,296
13,775,286
Treasury applications
500
906
Cash and bank deposits in the balance sheet
39,588,532
14,471,082
Bank overdrafts
-1,805,643
-45,875
Cash and cash equivalents in the cash flow statement
(1)
37,782,889
14,425,207
(1) there are no significant cash and cash equivalents unavailable for use by the Ibersol Group. Of this amount 7.692.042 eur are deposited in Angola
existing restrictions on its use outside the country, authorization from BNA (Angola central bank) and access to the purchase of foreign currency is
required.
Bank overdrafts include the creditor balances of current accounts with financial institutions,
included in the consolidated statement of financial position in the “bank loans” item (Note
17).
The amount of other payments / receipts relating to operating activities in the consolidated
cash flow statement include, essentially, payments to Social Security, VAT and related to other
debtors and creditors.
15. OTHER CURRENT ASSETS
Other current assets on December 31st 2016 and 2015 are broken down as follows:
Dec. 2016 Dec. 2015
Clients (1)
11,933,322
3,688,266
State and other public entities (2)
1,542,489
203,710
Other debtors (3)
5,206,424
4,876,466
Advances to suplliers
236,513
-
Advances to financial investments debt
2,900,000
94,089
Accruals and income (4)
6,677,919
1,591,708
Deferred costs (5)
2,841,775
1,781,688
Other current assets
31,338,442
12,235,927
Accumulated impairment losses
2,753,877
1,442,527
28,584,565
10,793,400
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