Regular information of PJSC "IMCC"

Information on issued securities certificates

Annual financial statements

		Date.	01.01.2011
Enterprise	Public Joint Stock Company "Ichnianskyi Dairy Canning Plant"	by EDRPOU	00381152
Territory	Ukraine Chernihiv PO Box 16703 Chernihiv region, Ichnia, 4 Vyshneva str.	by Classification of goods (UKEA)	7421710100
Organizational and legal form of business	OPEN JOINT STOCK COMPANY	according to the COFI	231
Public administration body	Not defined	by SPODU	0
Type of economic activity	Milk processing and cheese production	by Classifier of economic activities	15.51.0
Unit of measurement:	thousand UAH.	Checksum
Address:	Ukraine Chernihiv PO Box 16703 Chernihiv region, Ichnia, 4 Vyshneva str.

Balance sheet as of the end of the year

I. Non-current assets
Intangible assets:
- residual value	010
- original cost	011
- accumulated depreciation	012	( )	( )
Construction in progress	020
Property, plant and equipment:
- residual value	030
- original cost	031
- wear and tear	032	( )	( )
Long-term biological assets:
- fair (residual) value	035
- original cost	036
- accumulated depreciation	037	( )	( )
Long-term financial investments:
- accounted for using the equity method of accounting	040
- other financial investments	045
Long-term receivables	050
Fair (residual) value of investment property	055
Cost of investment property	056
Depreciation of investment property	057	( )	( )
Deferred tax assets	060
Goodwill	065
Other non-current assets	070
Goodwill on consolidation	075
Total for section I	080
II. Current assets
Inventories of production	100
Current biological assets	110
Work in progress	120
Finished products	130
Products.	140
Promissory notes received	150
Receivables for goods, works, and services:
- net realizable value	160
- original cost	161
- provision for doubtful debts	162	( )	( )
Accounts receivable:
- on budget	170
- on advances issued	180
- from accrued income	190
- from internal calculations	200
Other current receivables	210
Current financial investments	220
Cash and cash equivalents:
- in national currency	230
- including at the cash desk	231
- in foreign currency	240
Other current assets	250
Total for section II	260
III. Deferred expenses	270
IV. Non-current assets and disposal groups	275
Balance	280

I. Shareholders' equity
Authorized capital	300	110	110
Share capital	310	0	0
Additional invested capital	320	0	0
Other additional capital	330	43844	43844
Reserve capital	340	0	0
Retained earnings (uncovered loss)	350	14862	24153
Unpaid capital	360	( 0 )	( 0 )
Withdrawn capital	370	( 0 )	( 0 )
Accumulated exchange rate differences	375	0	0
Total for section I	380	58816	68107
Minority share	385	0	0
II. Securing the following payments and charges
Ensuring payments to staff	400	0	0
Other collateral	410	0	0
Amount of insurance reserves	415	0	0
Amount of reinsurers' shares in insurance reserves	416	0	0
Targeted financing	420	0	0
Total for section II	430	0	0
III. Long-term liabilities
Long-term loans from banks	440	0	0
Other non-current financial liabilities	450	0	0
Deferred tax liabilities	460	0	0
Other non-current liabilities	470	0	0
Total for section III	480	0	0
IV. Current liabilities
Short-term loans from banks	500	19059	0
Current debt on non-current liabilities	510	0	0
Promissory notes issued	520	0	0
Accounts payable for goods, works and services	530	13368	10921
Current liabilities on settlements:
- from advances received	540	0	0
- on budget	550	45	54
- from extra-budgetary payments	560	0	0
- insurance	570	119	159
- on labor remuneration	580	259	350
- with the participants	590	0	0
- from internal calculations	600	2	4
Liabilities related to non-current assets and disposal groups held for sale	605	0	0
Other current liabilities	610	27948	58433
Total for section IV	620	60800	69921
V. Deferred income	630	0	0
Balance	640	119616	138028

Notes.
Manager.
Chief Accountant

Statement of financial results for the year

I. FINANCIAL RESULTS

Income (revenue) from the sale of products (goods, works, services)	010	188378	146134
Value added tax	015	31396	24356
Excise duty	020	( 0 )	( 0 )
	025	( 0 )	( 0 )
Other deductions from income	030	( 0 )	( 0 )
Net income (revenue) from sales of products (goods, works, services)	035	156982	121778
Cost of sales of products (goods, works, services)	040	( 133358 )	( 106003 )
Gross profit:
- profit	050	23624	15775
- damage	055	( 0 )	( 0 )
Other operating income	060	115	38
Including income from the initial recognition of biological assets and agricultural products obtained from agricultural activities	061	0	0
Administrative expenses	070	( 1427 )	( 1305 )
Selling expenses	080	( 9540 )	( 3636 )
Other operating expenses	090	( 772 )	( 478 )
Including expenses from initial recognition of biological assets and agricultural products obtained as a result of agricultural activities	091	( 0 )	( 0 )
Financial results from operating activities:
- profit	100	12000	10394
- damage	105	( 0 )	( 0 )
Income from equity participation	110	0	0
Other financial income	120	1	25
Other income	130	0	0
Financial expenses	140	( 2605 )	( 664 )
Losses from equity participation	150	( 0 )	( 0 )
Other expenses	160	( 0 )	( 0 )
Gain (loss) from inflation on monetary items	165	0	0
Financial results from ordinary activities before taxation:
- profit	170	9396	9755
- damage	175	( 0 )	( 0 )
Including profit from discontinued operations and/or gain on revaluation of non-current assets and disposal group as a result of discontinued operations	176	0	0
Including loss from discontinued operations and/or loss from revaluation of non-current assets and disposal group as a result of discontinued operations	177	( 0 )	( 0 )
Income tax from ordinary activities	180	( 105 )	( 54 )
Income tax income from continuing operations	185	0	0
Financial results from ordinary activities:
- profit	190	9291	9701
- damage	195	( 0 )	( 0 )
Extraordinary:
- revenues	200	0	0
- costs	205	( 0 )	( 0 )
Taxes on extraordinary profits	210	( 0 )	( 0 )
Minority share	215	0	0
Clean:
- profit	220	9291	9701
- damage	225	( 0 )	( 0 )
Providing material incentives	226	0	0

II. ELEMENTS OF OPERATING EXPENSES

Material costs	230	133358	106003
Labor costs	240	4382	3532
Contributions to social activities	250	1740	1391
Depreciation and amortization	260	391	403
Other operating expenses	270	7936	811
Together	280	147807	112140

III. CALCULATION OF STOCK RETURNS

Average annual number of ordinary shares	300	439404	439404
Adjusted average annual number of ordinary shares	310	439404	439404
Net income (loss) per ordinary share	320	21.14455	21.14455
Adjusted net income (loss) per ordinary share	330	21.14455	21.14455
Dividends per ordinary share	340	0	0

Notes.	The statement of financial performance is prepared in accordance with the requirements of Accounting Regulation (Standard) 3 "Statement of Financial Performance". Sales of goods are accounted for on an accrual basis in accordance with the requirements of Accounting Regulation (Standard) 1 "General Requirements for Financial Reporting" and 15 "Revenue". Expenses from operating, financing and investing activities are allocated in accordance with the requirements of Accounting Regulation (Standard) 16 "Expenses".
Manager.
Chief Accountant

Statement of cash flows for the year

I. Cash flows from operating activities
Proceeds from:
Sales of products (goods, works, services)	010
Repayment of promissory notes received	015
Buyers and customers of advances	020
Return of advances	030
Bank interest on current accounts	035
The budget of the value added tax	040
Refund of other taxes and fees (mandatory payments)	045
Obtaining subsidies and grants	050
Targeted financing	060
Collectors of penalties (fines, fines)	070
Other income	080
Expenses for payment:
Goods (works, services)	090
Advances	095
Return of advances	100
For employees	105
Business trip expenses	110
Liabilities for value added tax	115
Income tax liabilities	120
Contributions to social activities	125
Liabilities for other taxes and duties (mandatory payments)	130
Earmarked contributions	140
Other expenses	145
Net cash flows before extraordinary items	150
Cash flows from extraordinary events	160
Net cash flows from operating activities	170

II. Cash flows from investing activities
Implementation:
- financial investments	180
- non-current assets	190
- property complexes	200
Results:
- interest	210
- dividends	220
Other income	230
Acquisitions:
- financial investments	240
- non-current assets	250
- property complexes	260
Other payments	270
Net cash flows before extraordinary items	280
Cash flows from extraordinary events	290
Net cash flows from investing activities	300
III. Cash flows from financing activities
Equity inflows	310
Loans received	320
Other income	330
Repayment of loans	340
Dividends paid	350
Other payments	360
Net cash flows before extraordinary items	370
Cash flows from extraordinary events	380
Net cash flows from financing activities	390
Net cash flows for the reporting period	400
Fund balance at the beginning of the year	410
Effect of changes in foreign exchange rates on cash balance	420
Fund balance at the end of the year	430

Notes.
Manager.
Chief Accountant

Statement of equity for the year

Balance at the beginning of the year	010
Correction:
Change in accounting policy	020
Correcting errors	030
Other changes	040
Adjusted balance at the beginning of the year	050
Revaluation of assets:
Revaluation of property, plant and equipment	060
Impairment of property, plant and equipment	070	( )	( )	( )	( )	( )	( )	( )	( )	( )
Revaluation of construction in progress	080
Impairment of construction in progress	090	( )	( )	( )	( )	( )	( )	( )	( )	( )
Revaluation of intangible assets	100
Impairment of intangible assets	110	( )	( )	( )	( )	( )	( )	( )	( )	( )
	120
Net profit (loss) for the reporting period	130
Distribution of profits:
Distributions to owners (dividends)	140
Allocation of profit to the authorized capital	150
Contributions to reserve capital	160
	170
Contributions from participants:
Capital contributions	180
Repayment of capital debt	190
	200
Capital withdrawal:
Repurchase of shares (stakes)	210
Resale of treasury shares (stakes)	220
Cancellation of repurchased shares (stakes)	230
Withdrawal of an equity interest	240
Reduction of the nominal value of shares	250
Other changes in equity:
Write-off of unrecovered losses	260
Assets received for free	270
	280
Total changes in equity	290
Balance at the end of the year	300

Notes.
Manager.
Chief Accountant

Notes to the annual financial statements for the year

I. Intangible assets

Average number of employees (people):

Rights to use natural resources	010
Rights to use property	020
Rights to commercial designations	030
Rights to industrial property objects	040
Copyright and related rights	050
	060
Other intangible assets	070
Together	080
Goodwill	090

From line 080 of column 14, the value of intangible assets subject to property rights restrictions	(081)
The value of intangible assets pledged as collateral	(082)
the value of intangible assets created by the company	(083)
From line 080 of column 5, the value of intangible assets received at the expense of targeted allocations	(084)
From line 080, column 15, accumulated amortization of intangible assets subject to ownership restrictions	(085)

II. Property, plant and equipment

Land plots	100
Investment real estate	105
Capital expenditures on land improvements	110
Buildings, structures and transmission facilities	120
Machinery and equipment	130
Vehicles	140
Tools, appliances, inventory (furniture)	150
Animals.	160
Perennial plantings	170
Other property, plant and equipment	180
Library collections	190
Low-value non-current tangible assets	200
Temporary (non-title) structures	210
Natural resources	220
Inventory packaging	230
Rental items	240
Other non-current tangible assets	250
Together	260

From line 260, column 14, the cost of fixed assets subject to restrictions on ownership provided for by applicable law	(261)
the value of fixed assets pledged as collateral	(262)
residual value of fixed assets that are temporarily not used (conservation, reconstruction, etc.)	(263)
initial (revalued) cost of fully depreciated fixed assets	(264)
fixed assets of leased integral property complexes	(264.1)
initial (revalued) cost of fully depreciated fixed assets	(265)
The residual value of property, plant and equipment lost as a result of extraordinary events	(265.1)
From line 260, column 5, the cost of fixed assets acquired through targeted financing	(266)
Cost of property, plant and equipment under operating lease	(267)
From line 260, column 15, depreciation of fixed assets subject to property rights restrictions	(268)
Cost of investment property measured at fair value	(269)

III. Capital investments

Capital construction	280
Purchase (manufacture) of fixed assets	290
Purchase (manufacture) of other non-current assets	300
Acquisition (creation) of intangible assets	310
Acquisition (cultivation) of long-term biological assets	320
Other	330
Together	340

Capital investments in investment property	(341)
Financial expenses included in capital investments	(342)

IV. Financial investments

А. Equity method financial investments in: associated companies	350
subsidiaries	360
joint activities	370
B. Other financial investments in: Shares and units in the authorized capital of other companies	380
shares	390
bonds	400
others	410
Total (section A + section B)	420

From line 045, column 4 of the Balance Sheet, other long-term financial investments are reflected: at cost	(421)
at fair value	(422)
at amortized cost	(423)
From line 220, column 4 of the Balance Sheet Current financial investments are reflected: at cost	(424)
at fair value	(425)
at amortized cost	(426)

V. Income and expenses

А. Other operating income and expenses Operating leases of assets	440
Operating foreign exchange difference	450
Sale of other current assets	460
Fines, penalties, forfeitures	470
Maintenance of housing and communal social and cultural facilities	480
Other operating income and expenses	490
including: allocations to the allowance for doubtful debts	491	X
Unproductive costs and losses	492	X
B. Income and losses from equity participation in investments in: associated companies	500
subsidiaries	510
joint activities	520
C. Other financial income and expenses Dividends	530		X
Interest	540	X
Finance lease of assets	550
Other financial income and expenses	560
D. Other income and expenses Realization of financial investments	570
Gains from business combinations	580
The result of the utility assessment	590
Non-operating exchange rate difference	600
Donated assets received	610		X
Write-off of non-current assets	620	X
Other income and expenses	630

Commodity exchange (barter) transactions with products (goods, works, services)	(631)
Share of revenue from sales of products (goods, works, services) under barter contracts with related parties	(632)	%
Financial expenses included in the cost of sales	(633)

VI. Cash and cash equivalents

Cashier	640
Current account in a bank	650
Other bank accounts (letters of credit, checkbooks)	660
Cash on the way	670
Cash equivalents	680
Together	690

From line 070 of column 4 of the Balance Sheet Cash, the use of which is restricted

(691)

VII. Provisions and reserves

Provision for vacation pay to employees	710
Provision for the following additional pension costs	720
Provision of the following expenses for fulfillment of warranty obligations	730
Provision for future restructuring costs	740
Provision for future costs of fulfilling obligations under onerous contracts	750
	760
	770
Allowance for doubtful debts	775
Together	780

VIII. Inventories

Raw materials and supplies	800
Purchased semi-finished products and components	810
Fuel	820
Packaging and packaging materials	830
Building materials	840
Spare parts	850
Agricultural materials	860
Current biological assets	870
Low-value and wear-and-tear items	880
Work in progress	890
Finished products	900
Products.	910
Together	920

From line 920, column 3 Carrying amount of inventories: carried at net realizable value	(921)
transferred for recycling	(922)
pledged as collateral	(923)
transferred to the commission	(924)
Assets in safekeeping (off-balance sheet account 02)	(925)
Balance sheet inventories held for sale	(926)

IX. Accounts receivable

Receivables for goods, works and services	940
Other current receivables	950

Uncollectible receivables written off in the reporting year	(951)
From lines 930 and 950 of column 3, payables with related parties	(952)

X. Shortages and losses from damage to valuables

Identified (written off) shortages and losses for the year	960
Recognized as debt of guilty parties in the reporting year	970
Amount of shortages and losses for which the final decision on the culprits has not been made at the end of the year (off-balance sheet account 072)	980

XI. Construction contracts

Revenue from construction contracts for the reporting year	1110
Debt at the end of the reporting year:
- gross customers	1120
- gross to customers	1130
- from advances received	1140
Amount of funds withheld at the end of the year	1150
Cost of work performed by subcontractors under construction contracts in progress	1160

XII. Income taxation

Current income tax	1210
Deferred tax assets:
- at the beginning of the reporting year	1220
- at the end of the reporting year	1225
Deferred tax liabilities:
- at the beginning of the reporting year	1230
- at the end of the reporting year	1235
Included in the Statement of Financial Performance - total	1240
including:
- current income tax	1241
- decrease (increase) in deferred tax assets	1242
- increase (decrease) in deferred tax liabilities	1243
Recognized in equity - total	1250
including:
- current income tax	1251
- decrease (increase) in deferred tax assets	1252
- increase (decrease) in deferred tax liabilities	1253

XIII. Use of depreciation charges

Accrued for the reporting year	1300
Utilized for the year - total	1310
including on:
- construction of facilities	1311
- acquisition (manufacture) and improvement of fixed assets	1312
- of which are machinery and equipment	1313
- acquisition (creation) of intangible assets	1314
- repayment of loans received for capital investments	1315
	1316
	1317

XIV. Biological assets

Long-term biological assets - total including:

1410

working cattle

1411

productive cattle

1412

perennial plantings

1413

1414

Other long-term biological assets

1415

Current biological assets - total including:

1420

X

X

X

X

Animals for growing and fattening

1421

X

X

X

X

biological assets in a state of biological transformation (except for animals for growing and fattening)

1422

X

X

X

X

1423

X

X

X

X

Other current biological assets

1424

X

X

X

X

Together

1430

From line 1430, column 5 and column 14, the value of biological assets acquired through targeted financing	(1431)
From line 1430, column 6, and column 16, the residual value of long-term biological assets, the cost of current biological assets, and the fair value of biological assets lost due to extraordinary events	(1432)
From line 1430, column 11, and column 17, the carrying amount of biological assets subject to statutory restrictions on ownership	(1433)

XV. Financial results from initial recognition and sale of agricultural products and additional biological assets

Crop production and additional biological assets - total including:	1500		( )		( )			( )
Cereals and legumes	1510		( )		( )			( )
of which: wheat	1511		( )		( )			( )
soybean	1512		( )		( )			( )
sunflower	1513		( )		( )			( )
rapeseed	1514		( )		( )			( )
sugar beet (factory)	1515		( )		( )			( )
potato	1516		( )		( )			( )
fruits (pome, stone)	1517		( )		( )			( )
other crop production	1518		( )		( )			( )
additional biological assets of crop production	1519		( )		( )			( )
Livestock products and additional biological assets - total including:	1520		( )		( )			( )
live weight gain - total	1530		( )		( )			( )
of it: cattle	1531		( )		( )			( )
pigs	1532		( )		( )			( )
milk	1533		( )		( )			( )
wool	1534		( )		( )			( )
eggs	1535		( )		( )			( )
Other livestock products	1536		( )		( )			( )
additional biological assets of livestock	1537		( )		( )			( )
fish farming products	1538		( )		( )			( )
	1539		( )		( )			( )
Agricultural produce and additional biological assets - total	1540		( )		( )			( )

Manager.
Chief Accountant