FUNDING AGREEMENTS
€ Thousand
2012
2011
Movement
Credits to personnel (Note 14.1)
2,850
6,123
(3,273)
Accounts receivable from joint ventures:
Los Alcornoques de Sotogrande, S.L.
4,043
4,469
(426)
Other accounts receivable from joint ventures
1,735
1,740
(5)
Current accounts with joint ventures:
Resco Sotogrande, S.L.
-
369
(369)
Loans to associated companies
Harrington Hall Hotel Ltd.
4,394
4,394
-
Corporación Hotelera Dominicana, S.A.
697
582
115
Sotocaribe, S.L.
2,144
1,520
624
Total
15,863
19,197
(3,334 )
The heading “Accounts receivable from joint ventures: Los Alcornoques de Sotogrande, S.L.” includes the balance receivable from Los Alcornoques de
Sotogrande, S.L., one of the Group joint ventures. The maturity of this outstanding balance is subject to the approval of the new San Roque General Urban
Development Plan.
The heading “Other accounts receivable from joint ventures” also includes the current balance at 31 December 2012 for the building services provided by
Sotogrande, S.A., as well as the commission fees invoiced on the sale of apartments and premises.
The heading “Loans to associated companies- Harrington Hall Hotel Ltd.” includes the subordinated loan granted by the Group to Harrington Hall Hotel
Ltd. for the amount of €2,250 thousand to refinance the company’s financial debt prior to its acquisition. This section also includes the interest accrued
during the year from the aforementioned loan to Harrington Hall Hotel Ltd. and a current account maintained with this company for €2,144 thousand.
Other transactions
By virtue of the contractual relationship entered into with Grupo Inversor Hesperia, S.A., at 31 December 2012, €1.84 million remained outstanding, of
which €1.39 million were due on this date. The net balance booked in respect of Grupo Inversor Hesperia, S.A. at 31 December 2012 is €1.57 million (€1.61
million at 31 December 2011).
€ Thousand
31/12/2012
Significant
shareholders
Directors and
executives
Group entities,
companies and
individuals
Other
related
parties
Total
Income and expenses
Expenses:
Financial expenses
10,886
-
-
-
10,886
Management or cooperation agreements
-
-
-
-
-
R&D transfers and licensing agreements
-
-
-
-
-
Leases
10,052
-
-
-
10,052
Receipt of services
-
-
-
-
-
Asset purchases (completed or ongoing)
-
-
-
-
-
Value adjustments for bad or doubtful debts
-
-
-
-
-
Losses from the retirement or disposal of assets
-
-
-
-
-
Other expenses
1,343
-
-
-
1,343
22,281
-
-
-
22,281
Income:
Financial income
-
-
444
-
444
Management or cooperation agreements
-
-
-
5,730
5,730
R&D transfers and licensing agreements
-
-
-
-
-
Dividends received
-
-
-
-
-
Leases
-
-
-
-
-
Provision of serves
-
-
58
-
58
Asset sales (completed or ongoing)
-
-
-
-
-
Profits from the retirement or disposal of assets
-
-
-
-
-
Other income
-
-
-
-
-
-
-
502
5,730
6,232
REPORT ON THE CONSOLIDATED
FINANCIAL STATEMENTS
107
