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Branch of the “Caspian-Audit” LLP in Atyrau oblast
Independent auditors report on the reliability of financial statements of
the “ATMA - Atyrau Airport and Transportation” Joint Stock Company
as of January 01, 2016 - December 31, 2016
Atyrau city2017
Branch of the “Caspian-Audit” Limited Liability Partnership in Atyrau oblast
/logo/ 060000, h. No.21, Sadykov street, Leskhoz mcd., Atyrau city, Atyrau oblast, the RoK
BIN 120241019691, TRN 151000055322,Tel: 8(7122) 365533, E-mail: [email protected]
State license, issued by the Ministry of Finance of the Republic of Kazakhstan under No. 14003928 of
March 26, 2014
No. 09 on June «14», 2017
INDEPENDENT AUDITOR'S REPORT
To Avkan Kemal, General Director of the “ATMA - Atyrau Airport and Transport”
We have audited the accompanying financial statements of the «ATMA- Atyrau Airport and Transport» JSC (the Company) which comprise the balance sheet as of December 31, 2016, profit and loss statement and statement of changes in equity and cash flow statement for the year ended on that date, as well as the summary of significant accounting policies and other explanatory notes to the financial statements.
Management's responsibility for financial statements
Management is responsible for the preparation and fair presentation of these financial statements in accordance with International Financial Reporting Standards. This responsibility includes designing, implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates reasonable in the circumstances.
Responsibility of the auditor
Our responsibility is to express an opinion based on our audit of these financial statements. We conducted our audit in accordance with International Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance that there are no significant distortion of the accompanying financial statements.
It involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In assessing this risk,
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the auditor considers internal control relevant to the preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, and evaluating the overall financial statement presentation.
We believe that the audit evidence we have obtained is sufficient and appropriate for our opinion.
Conclusion
In our opinion, the financial statements, in all material respects, fairly present the financial position of the Company as of December 31, 2016 and its financial results and its cash flows for the year, that ended on the specified date, in accordance with International Financial Reporting Standards.
/stamp: Republic of Kazakhstan, Branch of the “Caspian-Audit” Limited Liability Partnership in Atyrau oblast, BIN 120241019691, CASPIAN-AUDIT/
/signature/________________Sairan Kartabayev Director; auditor of the branch of “Caspian-Audit” LLP in Atyrau oblast
Auditor Qualification certificate No.0000080 of June 13, 1994.
/stamp: Sairan Kartabayev, Auditor of the Republic of Kazakstan, 0080/
Project and audit partner: G. I. Ibat
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“ATMA - Atyrau Airport and Transportation” Joint Stock Companycontent
PageAuditor's report on results of the audit 1
The financial statements as of December 31, 2016Balance sheet 2Profits and Losses Statement 3Cash Flow Statement 4Statement of changes in equity 5Notes to Financial Statements 6Conclusions to the financial statements 7
Annex No. 2To the Ministry of Finance Order under No143 of February 27, 2015
Form No.1
The name of the organization: “ATMA- Atyrau Airport and Transport” Joint Stock Company
Balance SheetFor the period from 01.01.2016 till 31.12.2016
thous. tenge
Assets Line code At the end of the reporting period
At the beginning of the reporting
period
I. Short-term assets:
Cash and cash equivalents 0105458 8035
Financial assets available-for-sale 011
Derivatives 012
Financial assets at fair value through profit or loss 013
Financial assets held to maturity 014
Other short-term financial assets 015
Short-term trade and other receivables 01646044 43422
Current income tax 01712928 7679
Stock 018 36507 27565
Other current assets 01914316 57256
Total short-term assets (the sum of lines 010 to 019) 100115253 143957
Assets (or disposal groups) held for sale 101
II. Long-term assets
Financial assets available-for-sale 110
Derivatives 111
Financial assets at fair value through profit or loss 112
Financial assets held to maturity 113
Other long-term assets 114
Long-term trade and other receivables 11521113 24391
Investments accounted for using the equity method 116
Investment property 117
Fixed assets 118 1075943 1068911
Biological assets 119
Exploration and evaluation assets 120
Intangible assets 121 2177 2 139
Deferred tax assets 122
Other long-term assets 123
Total long-term assets (the sum of lines 110 to 123) 2001099233 1095441
Balance sheet (line 100+ line 101+ line 200)1214486 1239398
LIABILITIES AND EQUITYIII. Short-term liabilities
loans 210
Derivatives 211
Other short-term financial liabilities 212
Short-term trade and other payables 2131323952 1479179
Short-term provisions 21413369 13344
Current tax liabilities on income tax 215
employee Benefits 216 21392 20786
Other current liabilities 21733382 24182
Total short-term liabilities (the sum of lines 210 to 217) 300 1392095 1537491
Liabilities of the disposal group held for sale 301
IV. Long term duties
loans 310
Derivatives 311
Other long-term liabilities 312
Long-term trade and other payables 31313853 21323
Long-term reserves 314
Deferred tax liabilities 315
Other long-term liabilities 316
Total long-term liabilities (the sum of lines 310 at 316) 40013853 21323
V. Capital
Authorized (share) capital 410244380 244380
Share premium 411
Repurchased own equity instruments 412
reserves 41357099 88873
Retained earnings (uncovered loss) 414-492941 -652669
Total equity attributable to owners of the parent organization (the sum of lines 410 to 414)
420-191462 -319416
Non-controlling owners 421
Total capital (line 420 +/- line 421) 500-191462 -319416
Balance sheet (line 300 + line 301 + line 400 + line 500)1214486 1239398
0 0
The General Director _____Avkan Kemal__________ _____/signed/_____ (full name) (signature)
The Chief Accountant _____G. B. Tulegenova_____________________ _____ /signed/_____ (full name) (signature) Seal place: “ATMA-Airport Atyrau and Transport” Joint Stock Company
/stamp: Sairan Kartabayev, Auditor of the Republic of Kazakstan, 0080/
Annex No.4To the Ministry of Finance Order under No143 of February 27, 2015
Form No.3
The name of the organization: “ATMA- Atyrau Airport and Transport” Joint Stock Company
Statement of cash flows (direct method)
For the period from 01.01.2016 till 31.12.2016
thous. tenge
The name of indicators Line code At the end of the reporting period
At the beginning of the reporting
periodI. Cash flows from operating activities
1. Cash inflow, total (sum of lines 011 to 016) 0101018122 955998
including:
sale of goods and services 011775585 728819
other revenues 012
advances received from buyers, customers 013236825 221910
income from insurance contracts 014
received remuneration 015 4
other supply 0165708 5269
2. Cash outflow, total (sum of rows 021 027) 020783533 770902
including:
payments to suppliers for goods and services 021107385 77765
advances to suppliers of goods and services 02280886 116693
payment of wages 023338762 328683
compensation payment 0241436 2008
payments under insurance contracts 025
income tax and other payments to the budget 026209162 217976
other payments 02745902 27777
3. Net cash from operating activities (line 010 - line 020) 030234589 185096
II. Cash flows from investing activities
1. Cash inflow, total (sum of lines to 041 by 051) 040200 5023
including:
the realization of fixed assets 041200
5023
realization of intangible assets 042
implementation of other long-term assets 043
implementation of equity instruments of other organizations (other than subsidiaries), and interests in joint ventures
044
implementation of debt instruments of other organizations 045
compensation for the loss of control over subsidiaries 046
sale of other financial assets 047
futures and forward contracts, options and swaps 048
dividends received 049
received remuneration 050
other supply 051
2. Cash outflow, total (sum of lines to 061 by 071) 06028307 9939
including:
acquisition of fixed assets 06128307 9939
acquisition of intangible assets 062
acquisition of other long-term assets 063
purchase of equity instruments of other organizations (other than subsidiaries), and interests in joint ventures
064
acquisition of debt instruments of other organizations 065
acquisition of control of a subsidiary 066
the acquisition of other financial assets 067
loans 068
futures and forward contracts, options and swaps 069
investments in associates and subsidiaries 070
other payments 071
3. Net cash from investing activities (line 040 - line 060) 080-28107 -4916
III. Cash flows from financing activities
1. Cash inflow, total (sum of lines to 091 by 094) 0900 0
including:
issue of shares and other financial instruments 091
bank loans 092
received remuneration 093
other supply 094
2. Cash outflow, total (sum of lines 101 to 105) 100209059 181660
including:
loan repayment 101
compensation payment 102
dividend payment 103 30081
distributions to owners Equity Organization 104
other disposals 105209059 151579
3. Net cash from financing activities (line 090 - line 100) 110-209059 -181660
4. Effect of foreign currency exchange rates to the tenge 120
5. Increase +/- decrease in cash (line 030 +/- 080 +/- string line 110)
130-2577 -1480
6. Cash and cash equivalents at beginning of period 1408035 9515
7. Cash and cash equivalents at end of period 1505458 8035
The General Director _____Avkan Kemal __________ _____/signed/_____ (full name) (signature)
The Chief Accountant _____G. B. Tulegenova_____________________ _____ /signed/_____ (full name) (signature) Seal place: “ATMA-Airport Atyrau and Transport” Joint Stock Company
/stamp: Sairan Kartabayev, Auditor of the Republic of Kazakstan, 0080/
Annex No.3To the Ministry of Finance Order under No143 of February 27, 2015
Form No.2
The name of the organization: “ATMA- Atyrau Airport and Transport” Joint Stock Company
Profits and Losses Statement
For the period from 01.01.2016 till 31.12.2016
thous. tenge
The name of indicators Line code At the end of the reporting period
At the beginning of the reporting
periodRevenue 010
935958 885019Cost of goods and services 011
425583 399980Gross profit (line 010 - line 011) 012
510375 485039Distribution costs 013
Administrative expenses 014212210 468435
Other expenses 015414401 749526
Other income 016275221 18354
Total operating profit (loss) (+/- 012 rows by 016) 020 158985 -714568
Income from financing 021 4
Finance costs 0221436 2008
The share of the organization in the profit (loss) of associates and joint ventures accounted for using the equity method
023
Other non-operating income 024
Other non-operating expenses 025
Profit (loss) before tax (+/- 020 rows by 025) 100157553 -716576
Income tax expense 101
Profit (loss) after tax from continuing operations (line 100 - line 101)
200157553 -716576
Profit (loss) after tax from discontinued operations 201
Profit for the year (line 200 + line 201) attributable to: 300157553 -716576
The owners of the parent
Non-controlling owners
Other comprehensive income, total (sum of lines 410 to 420): 4002175 2452
including:Revaluation of fixed assets 410
2175 2452
Revaluation of financial assets available-for-sale 411
Share of other comprehensive income (loss) of associates and joint ventures accounted for using the equity method
412
Actuarial gains (losses) on pension obligations 413
Effect of change in income tax rate on deferred tax of subsidiaries 414
Cash flow hedges 415
Exchange difference on investments in foreign entities 416
Hedges of net investments in foreign operations 417
Other components of other comprehensive income 418
The adjustment on reclassification in profit (loss) 419
Tax effects of components of other comprehensive income 420
Total comprehensive income (line 300 + line 400) 500159728 -714124
Total comprehensive income attributable to:
the owners of the parent
non-controlling owners
Earnings per share: 600
including:
Basic earnings per share:
from continuing operations
from discontinued operations
Diluted earnings per share:
from continuing operations
from discontinued operations
The General Director _____Avkan Kemal__________ _____/signed/_____ (full name) (signature)
The Chief Accountant _____G. B. Tulegenova_____________________ _____ /signed/_____ (full name) (signature) Seal place: “ATMA-Airport Atyrau and Transport” Joint Stock Company
/stamp: Sairan Kartabayev, Auditor of the Republic of Kazakstan, 0080/
Annex No6To the Ministry of Finance Order under No143 of February 27, 2015
Form No.4
The name of the organization: “ATMA- Atyrau Airport and Transport” Joint Stock Company
Statement of changes in the capitalFor the period from 01.01.2016 till 31.12.2016
thous. tenge
Component Name Line codeCapital of parent institution
Non-controlling owners Total equityCharter (share)
capital Share premium Repurchased own equity instruments Reserves Retained
earningsBalance at 1 January of the previous year 010 244380 114338 111896 470614
Change in accounting policies 011 1538 -50441 -48903
The recalculated balances (line 010 + / 011 line) 100 244380 115876 61455 421711
Total comprehensive income, total (line 210 + line 220): 200 -2452 -714124 -716576
Profit (loss) for the year 210 -2452 -714124 -716576
Other comprehensive income, total (sum of lines 221 to 229):
220
including:
Gain on revaluation of fixed assets (net of tax effect) 221
Translation depreciation on revaluation of fixed assets (net of tax effect)
222
Revaluation of financial assets available for sale (net of tax effect)
223
Share of other comprehensive income (loss) of associates and joint ventures accounted for using the equity method
224
Actuarial gains (losses) on pension obligations 225
Effect of change in income tax rate on deferred tax of subsidiaries
226
Cash flow hedges (net of tax effect) 227
Exchange difference on investments in foreign entities 228
Hedges of net investments in foreign operations 229
Transactions with owners, total (sum of rows 310 318): 300 -24551.00 0.00 -24551.00
including:
Employee Benefits shares: 310 0.00
including:
the cost of services of employees
issue of shares for the remuneration scheme in shares of employeestax benefit in respect of the remuneration scheme in shares of employeesContributions from owners 311
Issue of own equity instruments (shares) 312
Issue of equity instruments related to the business combination
313
The equity component of convertible instruments (net of tax effect)
314
Dividend payment 315
Other distributions to owners 316
Other transactions with owners 317 -24551 -24551.00
Changes in ownership interests in subsidiaries that do not result in a loss of control
318
Balance as of January 1 of the year (line 100 + line 200 + line 300)
400 244380 0 0 88873 -652669 0 -319416
Change in accounting policies 401
The recalculated balances (line 400 + / 401 line) 500 244380 88873 -652669 -319416
Total comprehensive income, total (line 610+ line 620): 600 -2175 159728 157553
Profit (loss) for the year 610 -2175 159728 157553
Other comprehensive income, total (sum of rows 621 at 629):
620 0 0
including:
Gain on revaluation of fixed assets (net of tax effect) 621
Translation depreciation on revaluation of fixed assets (net of tax effect)
622
Revaluation of financial assets available for sale (net of tax effect)
623
Share of other comprehensive income (loss) of associates and joint ventures accounted for using the equity method
624
Actuarial gains (losses) on pension obligations 625
Effect of change in income tax rate on deferred tax of subsidiaries
626
Cash flow hedges (net of tax effect) 627
Exchange difference on investments in foreign entities 628
Hedges of net investments in foreign operations 629
Transactions with owners of all (the sum of lines 710 to 718)
700 0 0 0 -29599 0 0 -29599
including:
Reward employees shares 710
including:
employees of the cost of services
issue of shares for the remuneration scheme in shares of employees
tax benefit in respect of the remuneration scheme in shares of employees
Contributions from owners 711
Issue of own equity instruments (shares) 712
Issue of equity instruments related to the business combination
713
The equity component of convertible instruments (net of tax effect)
714
Dividend payment 715
Other distributions to owners 716
Other transactions with owners 717
Changes in ownership interests in subsidiaries that do not result in a loss of control
718
Balance at 31 December of the year (line 500 + line 600 + line 700)
800 244380 57099 -492941 0 -191462
The General Director _____Avkan Kemal__________ _____/signed/_____ (full name) (signature)
The Chief Accountant _____G. B. Tulegenova_____________________ _____/signed/_____ (full name) (signature) Seal place: “ATMA- Atyrau Airport and Transport” Joint Stock Company
/stamp: Sairan Kartabayev, Auditor of the Republic of Kazakstan, 0080/
“ATMA-Airport Atyrau and Transport” Joint Stock Company
Notes to the financial statements ending December 31, 2016
1. Company Informationа) Organization and Operation
The “Atyrau-ATMA Airport and Transportation” JSC operates in accordance with the constituent documents of the Republic of Kazakhstan in the framework of the law, re-registered by the Department of Justice of Atyrau December 12 2008goda for № 2119-1915-AO (DUT), OKPO code 39089660.Business taxpayer identification number 951240000809According to the register of holders of securities the shareholders of the company are:
The company «Magdenli Yer Hizmetleri Ve Tashima A.Sh.» - Turkish shareholder. “National Company” Socio-Entrepreneurial Corporation “Atyrau” JSC - Kazakh
shareholder.The authorized capital of the Company is 244,380,000 (two hundred forty four million three hundred eighty thousand) tenge. Number of issued ordinary shares of the Company is 6,000 (six thousand) shares placed among the shareholders of the Company.
Turkish shareholder - 3,000 (three thousand) shares in the amount of 3 000 000 (three million) or 122 190 000 (one hundred twenty two million one hundred ninety thousand) tenge, which is 50% of the paid-up share capital of the company.
Kazakh shareholder - 3,000 (three thousand) shares in the amount of 3 000 000 (three million) or 122 190 000 (one hundred twenty two million one hundred ninety thousand) tenge, which is 50% of the paid-up share capital of the company.
The scope of activities of the Company are:in respect of aircraft and equipment of the full range of works and services that are part of airport activities, as well as in respect of airport facilities, air terminal complexes and infrastructure;compliance with mandatory technical maintenance schedules aircraft and helicopter fleet, providing continuity of control and continuity of aircraft production;ensuring all ground services, passenger services and freight management and operation of the hangar and airport facilities between landing and departure of aircraft and helicopters in the Atyrau airport according to the developed tariffs; acquisition, implementation, acceptance and surrender to lease, rent, freight;construction, manufacturing, design, reconstruction, repair, alteration, execution of accompanying all types of construction, installation and commissioning works; fire support;provision of civil aircraft, facilities and services of the airport and materials special fluids, control their quality;providing operators of civil aircraft and other users of special vehicles;information and reference service for passengers, crews, population data needed in the field of civil aviation and other activities provided by the Charter.
б) Business environment and risk insurance of Kazakhstan.The Company's business is subject to economic, political and social risks inherent in doing business in Kazakhstan. These risks include the effects of government policies, economic conditions, changes in taxes and regulations, currency fluctuations and the enforceability of contract rights.
The financial statements reflect management's assessment of the impact of economic conditions in Kazakhstan on the operations and financial position. The future business environment may differ from management's assessment.
в) Financial risk management.(i) The Company is exposed to fluctuations in prices for their products and services, which are set in tenge in the domestic currency and in foreign markets. The Company does not hedge its exposure to the risk of price fluctuations. (ii) The Company also has loan commitments are subject to interest rate risk. Changes in interest rates on loans affects borrowings by changing their fair value. The Company does not use hedging instruments to minimize such exposure.(iii) The Company is exposed to currency risk. This exposure arises in connection with the purchase and sale transactions in currencies other than the functional currency of the Company og. Company's functional currency is the tenge. The currencies that give rise to such a foreign exchange risk are primarily the US dollar and the Russian ruble. The Company does not enter into transactions to hedge its exposure to foreign exchange risk. (iv) The Company is exposed to credit risk. The Company does not require collateral in respect of financial assets. The Company's policy is to assess the creditworthiness of customers who intend to buy credit for a certain amount. The Company regularly monitors its exposure to risks of bad debts in order to reduce such exposure to a minimum.
г) Continuity of operations.The long-term economic stability of the Company depends on the economic stability of the country, the changes in the political and business environment in the Republic of Kazakhstan and in the world as a whole (the processes of disarmament), deterioration of park equipment, exceeding the individual sales prices relative to their average market value conditions obtaining loans for production development and a number of other.
The accompanying financial statements have been prepared on a going concern basis of the principle, according to which the realization of assets and satisfaction of liabilities in the normal course of business for the foreseeable future.
The accompanying financial statements contain no adjustments required in the case if the company could not continue its operations on the basis of the principle of Continuity.
2. Basis of presentation of financial statements.а) Accounting basis.The financial statements have been prepared in accordance with the principle of fair value accounting only for fixed assets and intangible assets - at historical cost. The financial statements are presented in Kazakhstan tenge, all monetary amounts are rounded to the nearest thousand tenge, unless otherwise stated.
б) Compliance with accounting principlesThe financial statements of the Company have been prepared in accordance with IFRS as issued by the International Accounting Standards Board (the «IASB») and International Financial Reporting Standards Committee («IFRSC») and interpretations issued by the International Financial Reporting Interpretations Committee (the «IFRIC «), adopted by the European Union up to December 31, 2009.
в) Significant accounting estimates and propositions(i) PropositionIn the process of applying the accounting policies Company management have been used the following judgments against impairment indicators.
The company monitors internal and external indicators of impairment of tangible and intangible assets. The Company's management analyzed the probability of the existence of impairment indicators in relation to assets.The analysis was carried out, in particular, in connection with the technological equipment the ability to operate in the foreseeable future on the planned capacity or possible reduction of its market value. Based on the results generated by assessing the feasibility of technological and financial plan of activities of fixed assets made up for the coming year, management has concluded that no impairment during and at the end of the fiscal year for all tangible and intangible assets.
(ii) Uncertainty of estimates
The preparation of financial statements in conformity with IFRS requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from these estimates.In particular, the information produced in the preparation of financial statements requires management of significant estimates, in which there is considerable uncertainty, refer to the following notes:
Note 7 - Income taxNote 8 - Fixed assetsNote 20 - Commitments and contingencies
3. Basic principles of accounting policiesWhen preparing the financial statements by the Company The following significant accounting policies have been consistently applied.
а) Foreign currency translationThe functional currency of the Company is defined as the currency of the primary economic environment in which it operates. Company's functional currency is the tenge, as the main operating activity of the Company is carried out in tenge. Transactions in foreign currencies are initially recorded in the functional currency at the exchange rates prevailing at the transaction date. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate prevailing at the balance sheet date. Exchange differences arising from the translation at the exchange rate on the date of the transaction, as well as from the translation of monetary assets and liabilities at the date of the reporting period are recognized in the statement of income. Non-monetary assets and liabilities denominated in foreign currencies that are measured at historical cost are translated to the functional currency at the exchange rate at the transaction date.
To convert the items of financial statements denominated in foreign currencies, as well as for foreign exchange transactions reflect the objectives in accounting, JSC uses the weighted average stock market exchange rates, which were formed at the substantive session of the Kazakhstan Stock Exchange and forms them in the manner specified by the Order of the Ministry of Finance of the Republic Kazakhstan dated 23.12.2002, № 629 and Decree of the Board of the National Bank of the Republic of Kazakhstan dated 23.12.2002, № 512). Order of the Minister of Finance of the Republic of Kazakhstan dated January 28, 2009 № 36 and Regulation of the Board of the National Bank of the Republic of Kazakhstan dated January 26, 2009 № 4.Installed courses used currencies:
As of 31.12.2016 As of 31.12.2015The USD (dollar) 342.16 221.73EURO (EUR) 378.63 245.80
Changes in accounting policy and disclosure of information.In the current reporting period, the Company adopted the standards and interpretations issued by the International Financial Reports Standards Committee («IFRSC») and International Financial Reporting Interpretations Committee («IFRIC») that relate to its operations and effective for annual periods beginning on January 1, 2009.
- New or revised standards and interpretations IFRIC, is effective for annual periods beginning January 1, 2009, Affected the financial statements and/ or position of the Partnership:Amendments to IFRS 1 «Presentation of Financial Statements: Comprehensive income». The revised standard separates changes in equity to those caused by transactions with owners and other changes in equity. Report of changes in equity now includes only details of transactions with owners, while all other changes are presented in one line. Besides. The standard introduces the requirement for a statement of comprehensive income. This report shall be included all items of recognized income and expenses, which may be presented either in a single report, or in two linked statements. Partnership adopted a statement of comprehensive income, which shall include all items of recognized income and expense. The relevant comparative information is provided in the statement of comprehensive income and in 2008Since the amendment only affects the disclosure requirements for, she did not have any impact on the results of the Partnership and its position.
New or revised standards and interpretations IFRIC, is effective for annual periods beginning January 1, 2009 (unless otherwise specified), which will have no impact on the financial statements and/ or financial position of Partnership:
- Amendments to IFRS 1 «First-time Adoption of International Financial Reporting Standards» - «The cost of investments in subsidiaries, jointly controlled entities and associated companies».
- Amendments to IFRS 2 «Share-based Payment» - «Vesting Conditions and Cancellations reward».- Amendments to IFRS 7 «Financial Instruments: Disclosures».- IFRS 8 «Operating Segments».- The new version of IFRS 23, «Borrowing Costs».- Amendments to IFRS 27 «Consolidated and Separate Financial Statements» - «The cost of
investments in subsidiaries, jointly controlled entities and associates».- Amendments to IFRS 32 «Financial Instruments: Presentation» and IAS 1 «Presentation of
Financial Statements» - «Financial Instruments puttable and obligations arising on liquidation».- Amendments to IFRIC 9 «Reassessment of Embedded Derivatives» and IAS 39 - «Financial
Instruments: Recognition and Measurement» - «Embedded Derivatives», effective for financial periods ending June 30, 2009 or after this date.
- Interpretation IFRIC 13 «Program, aimed at maintaining customer loyalty», effective for financial periods beginning July 1, 2008 or after this date.
- Interpretation IFRIC 15 «Agreements for the Construction of Real Estate».- Interpretation IFRIC 16 «Hedges of a Net Investment in a Foreign Operation», effective
prospectively for annual periods beginning on October 1, 2008 or after this date.- Interpretation IFRIC 18 «Assets from Customers», applies to assets received from customers July 1,
2009 or after that date.International Accounting Standards Committee, as part of an annual initiative aimed at
the overall improvement of the existing international financial reporting standards issued amendments to existing standards.
These changes have affected some of the wording and questions on the presentation of financial statements, the recognition and measurement. The new version of these standards is effective for annual periods beginning January 1, 2009 or after that date.
IFRS (IAS) 1 «Presentation of Financial Statements»;IFRS (IAS) 16 «Fixed Assets»;IFRS (IAS) 19, «Employee Benefits»;IFRS (IAS) 20, «Accounting for Government Grants and Disclosure of Government Assistance»;IFRS (IAS) 23, «Borrowing Costs»;IFRS (IAS) 27 «Consolidated and Separate Financial Statements»;IFRS (IAS) 28, «Accounting for Investments in Associates»;IFRS (IAS) 29 «Financial reporting in hyperinflationary economies»;IFRS (IAS) 31, «Interests in Joint Ventures»;IFRS (IAZ) 36 «Impairment of Assets»;IFRS (IAS) 38 «Intangible Assets»;IFRS (IAS) 39 «Financial Instruments: Recognition and Measurement»;IFRS (IAS) 40 «Investment Property»;IFRS (IAS) 41 «Agriculture»:IFRS (IFRS) 7 «Financial Instruments: Disclosures»:IFRS (IAS) 8 «Accounting Policies, Changes in Accounting Estimates and Errors»;IFRS (IAS) 10, «Events after the reporting period»;IFRS (IAS) 18 «Revenue»;IFRS (IAS) 29 «Financial reporting in hyperinflationary economies»;IFRS (IAS) 34 «Interim Financial Reporting».
Changes to the International Financial Reporting Standards, which came into force on January 1, 2010, or after that date are not taken early, that will have no impact on the separate financial statements and / or financial position of the Company.
The International Accounting Standards Board ( «IASB) and the Interpretations Committee International Financial Reporting Standards (« IFRIC «) issued a number of amendments, which are effective for periods beginning January 1, 2010 or after this date, unless otherwise stated :
IAS (IFRS) 1 «First-time Adoption of International Financial Reporting Standards» - «Additional Exemptions for First-time Adopters»;
IAS (IFRS) 2 «Share-based Payment» - «Transactions with payments based on shares, settled by cash, providing for the participation of several group companies»;
A revised edition of IFRS (IFRS) 3 «Business Combinations», effective for periods beginning July 1, 2009 or after that date;
to IFRS (IAS 27) «Consolidated and Separate Financial Statements», effective for periods beginning July 1, 2009 or after that date;
to IFRS (IAS) 39 «Financial Instruments: Recognition and Measurement» - «Objects Eligible Hedged Items», effective for annual periods beginning I July 2009 or after that date;
IFRIC 17 «Distributions of non-cash assets to owners», effective for periods beginning July 1, 2009 or after this date.
The Company has not early adopted these amendments, according to preliminary estimates listed amendments will have no impact on the financial statements in the future, because amendments are not relevant to the Company's activities.
International Accounting Standards Committee, as part of an annual initiative aimed at the overall improvement of the existing international financial reporting standards issued amendments to existing standards, primarily with a view to removing inconsistencies and clarifying wording.
The new version of these standards is effective for annual periods beginning January 1, 2010 or after this date, unless otherwise stated:
IFRS (IFRS) 2 «Share-based Payment», effective for periods beginning July 1, 2009 or after that date;IFRS (IFRS) 5 «Non-current Assets Held for Sale and Discontinued Operations»;IFRS (IFRS) 8 «Operating Segments»;IFRS (IAS) 1 «Presentation of Financial Statements»;IFRS (IAS) 7, «Statement of Cash Flows»;IFRS (IAS) 17, «Leases»;IFRS (IAS) 18 «Revenue»;IFRS (IAS) 36 «Impairment of Assets»;IFRS (IAS) 38 «Intangible Assets», effective for periods beginning July 1, 2009 or after that date;IFRS (IAS) 39 «Financial Instruments: Recognition and Measurement»;Interpretation (IFRIC) 9 «Reassessment of Embedded Derivatives»; effective for periods beginning July 1, 2009 or after that date;Interpretation (IFRIC) 16 «Hedges of a Net Investment in a Foreign subdivision»; effective for periods beginning July 1, 2009 or after this date.
б) Intangible assets
(i) Intangible assets
Some of the software includes the cost of acquisition for accounting software (1: Accounting), mathematical models (motion calculation) specialized products, as well as for the production of drawings of the program. For other intangible assets include a documentary about the Company's operations. Accounting software and other intangible assets acquired by the Company and have limited useful life, is carried at cost less accumulated depreciation and impairment losses.
3. Significant accounting policies, continuedб) Intangible assets, continued
(iii) Amortization
Amortization of intangible assets, the useful life of 3-10 years, which is carried out proportional basis over the specified period.в) Tangible assets
(i) Fixed assetsProperty and equipment are stated at cost less accumulated depreciation and impairment losses.
The cost of each asset is depreciated over its useful life, which is determined by taking into account both the physical life of the particular asset and the present assessment of the economic feasibility and the actual use. Depreciation, which is reflected in the statement of income and expenditure accrued by straight-line basis over the estimated useful life of objects.The table below summarizes the useful lives of fixed assets:
Buildings and constructions 20-50 yearsMachinery and equipment 5-10 years
Transportation 7-12 yearsOther 5-15 years
(ii) Repair and service
The cost of replacing part of an item of property that is accounted for separately is capitalized and the cost of the replaced part is written off (substitution method). Other subsequent expenditure is capitalized only when it increases the future economic benefits from the use of this property, plant and equipment. All other expenses, including the cost of technical inspection and repair are recorded in the income statement as incurred.
г) DevaluationAn analysis of the carrying value of long-lived assets for impairment is carried out when events or changes in circumstances indicate the possibility that such carrying value may not be recoverable. If there is evidence of impairment is assessed, allowing identify whether the carrying amount exceeds the recoverable amount of assets. Carrying out such an analysis is carried out separately for each asset, except for assets that do not generate their own cash flows. In this case, the analysis is performed at the unit level, generating cash proceeds.
In the event that the carrying amount of an asset or cash generating unit revenue exceeds its recoverable amount, a provision to reflect the asset at a lower cost. Impairment losses are recognized in the statement of income and expenses.
(iii) Calculation of recoverable amount
The recoverable amount of an asset is determined as the higher of value in use and fair value less costs to implement it. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. The recoverable amount of assets that do not generate their own cash flow, defined as part of the recoverable value of the unit generating cash flows to which the asset belongs.
(iv) Reversals of impairment losses
An impairment loss is reversed if there is a change in the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset's carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortization, if no impairment loss had been recognized.
д) Inventories
Raw materials and consumables are stated at weighted average cost method and are recorded at the lower of cost and net realizable value. Cost of inventories includes the costs incurred in the ordinary course of business in bringing each product to its destination, and bring it into proper condition. Cost of raw materials and consumables is the purchase price, and a work in progress and finished goods - the cost of production, including the appropriate proportion of depreciation and overheads. Cost of work in process and finished goods is calculated on the weighted average cost method. Cost of work in process and finished products includes an appropriate share of overheads based on normal capacity utilization.
Net realizable value is based on estimated selling price in the ordinary course of business, less the additional costs of completion and disposal.
3. Basic principles of accounting policies, continuedе) Trade and other receivablesTrade accounts receivable are stated at original invoice amount (being the fair value of the consideration receivable) less provision for impairment of these receivables. Provision for impairment of receivables is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms. amount of the provision is the difference between the initial carrying amount and the recoverable amount, being the present value of expected payment flows. amount of the provision is recognized in the statement of income and expenses.
ж) Cash and cash equivalentsCash and cash equivalents comprise cash at bank and in hand, short-term demand deposits or with maturity less than three months and highly liquid investments that are readily convertible to known amounts of cash and subject to insignificant risk of changes in value, and bank overdrafts.
3) Employee Benefits(v) Remuneration systemThe Company has established the accountant salary system with one-time payments of premiums and personal allowances on the basis of orders of the first leaders of the enterprise, in addition, also adopted elegant system of remuneration for the part of the working personnel.(vi) Pension contributionsEmployees are responsible for their pension contributions in accordance with the in force in 2008. The legislation of the Republic of Kazakhstan on pension provision. The company, being an agent in accordance with the same legislation, is obliged only to keep employees with their pension contributions and remit them to pension funds selected by employees.
(vii) Social SecurityIn accordance with the current legislation on social security in Kazakhstan Companies are required to pay their employees for mandatory social security contributions, which are entered in a special personal account opened with the State Social Insurance Fund. These savings can be used within the limits established by the state only for the payment of benefits for permanent disability and loss of work, and with the year 2008 and for the time spent on maternity leave.
и) LoansBorrowings are recognized initially at fair value of funds raised, net of transaction costs directly attributable to their acquisition. After initial recognition, borrowings are subsequently measured at amortized cost using the effective interest rate method.
к) RevenuesRevenue is recognized to the extent that it is probable that the Company will receive economic benefits and if the amount of revenue can be measured reliably. Revenue associated with the sale of goods is recognized in the statement of income and expenditure at the time of transition to the buyer the significant risks and rewards, usually after the formal transfer of ownership to the buyer. Revenues do not include any indirect taxes.
л) Income tax
Income tax for the year comprises current and deferred tax. Income tax is recognized in the statement of income, except when it relates to items recognized directly in equity. In these cases, it is recognized in equity.
Current income tax is the expected tax payable on the taxable income for the year, and any adjustment to tax payable in respect of previous years.
Deferred tax is provided using the balance sheet liability method on temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply during the period the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the balance sheet date.
A deferred tax asset is recognized only to the extent that it is probable that future taxable income, which may be reduced by the amount of the asset. The amount of deferred tax assets are reduced to the extent that it is no longer probable that the related tax benefit will be realized.
Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets and liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.
3. Basic principles of accounting policies, continued
м) Financial instruments
(viii) Recognition
The Company recognizes financial assets and liabilities in the balance sheet when, and only when it becomes a party to the contract of the instrument.
Offsetting Financial assets and liabilities to total reflection on the balance sheet is carried out only if there is a legally enforceable right to offset the recognized amounts and intention to work on a method of net income / expense, or to realize the asset simultaneously with repayment obligations.
(ix) Evaluation
Financial assets and liabilities are initially recognized at cost, being the fair value of paid or borrowed funds, respectively, taking into account transaction costs. Gain or loss upon initial recognition are recognized in the statement of income and expenditure for the current period.
Loans and receivables are loans and receivables created by the provision of funds by the Company to the borrower. Loans and receivables include loans and advances except purchased loans.
Originated loans and receivables are initially recognized in accordance with the rules described above, and subsequently remeasured at amortized cost using the effective interest method. A provision for impairment is assessed on an individual basis.
(х) Derecognition
Derecognition of financial asset is derecognised when the Company loses control over the contractual rights on the asset. This occurs when the rights are realized, expire or are surrendered.
Derecognition of financial commitments made in the case of settlement of the obligation.
4. Revenues
The following tables provide an analysis of the main components of revenues from core activities of the Company:
а) Revenues by product / service types: (OPU line 010)
thousand tenge As of 31.12. 2016 As of 31.12.2015Revenues from sales of services 935958 885019Total income 935958 885019
5. Cost of goods sold and administrative expenses, selling expenses, and other income and expenses
The following tables provide an analysis of the main components of cost of sales, administrative costs, sales expenses and other expenses and income:
а) Cost of products sold: (OPU line 011)
thousand tenge As of 31.12. 2016 As of 31.12.2015Wage 221747 211962Selling (for vacation reserve) 17635 15151Payment of hospital 4302 3599Material aid 6154 6309Social tax 14033 14191Compulsory social insurance 10616 9293
Depreciation OS 49667 45918electric power 16932 17122Water supply 5323 4009sewerage 2748 2341Heating (fuel) 5968 6163Fuel 4030 3361TMZ 15198 14960Repair OS 20151 11813Property tax 2689 9999Land tax 1298 952passes 1178 694Communication services 1839 1842Medical 1142Fire Alarm Maintenance 972 908
Other expenses 21961 19393Total cost: 425583 399980
Other expenses include: medical examination of workers, notary services, production monitoring, travel expenses, etc.
5. Cost of products sold, administrative expenses and operating income and expenses, continued
в) Administrative expenses (OPU line 014)
thousand tenge As of 31.12. 2016 As of 31.12.2015Wage 43954 44525Payment of hospital 631 504Selling (for vacation reserve) 3896 3434Material aid 2185 1759Property tax 275 281Social tax 3710 3671Taxes and other payments to the budget 11274 11058Depreciation OS 2772 2815TMZelectric power 296 305Water supply 1148 865sewerage 593 505Communication services 2389 2432Travel and entertainment expenses 6839 3378
General and staff of the Turkish adm.raskhody 101341 369594
Insurance SUBSCRIPTION 5002 5917Repair of OS 164 70Bank services 2688 2321lease of premises 3334 3240Fines, penalties (for hoz.dogovoram) 1 37Audit (consulting) services 1161 1518Training 465 62Medical services 7Maintenance of 1C 103 117Other expenses 17982 10027Total administrative expenses 212210 468435
Other costs include notary, courier services, garbage collection, maintenance, and other.
г) Other expenses (OPU line 015)
thous.tenge As of 31.12. 2016 As of 31.12.2015The costs of asset retirement 4012 10176Foreign exchange losses 248660 571337
Expenses for provisions and write-off of bad claims
3206
Other expenses 158523 168013Total other income 414401 749526
d) Other income / (loss) (OPU line 016)
thous.tenge As of 31.12. 2016 As of 31.12.2015Gains on disposal of assets 179 4485Income / (loss) on exchange differences 273489 12414
Other income / (loss) 1553 12414Total other income 275221 18354
d). – the income of financing ( OPU line 021)
thous.tenge As of 31.12. 2016 As of 31.12.2015The income of financing 4Total 4
j) the cost of financing (OPU line 022)
thous.tenge As of 31.12. 2016 As of 31.12.2015The costs of remuneration 1436 2008total 1436 2008
6. Income tax
The corporate income tax As of 31.12. 2016 As of 31.12.2015
thous. tengeCurrent corporate income taxExpenses for deferred income tax
The corporate income tax expense recognized in the statement of income and expenses
7. Cash and cash equivalentsMoney is cash and funds in bank accounts.
(i) As of December 31, 2016 the remains of money allocated as follows:
thousand tenge As of 31.12. 2016 As of 31.12.2015Money in current bank accounts 3207 2980Cash on hands 2251 5055total 5458 8035
8. Trade and other receivables
а) Trade and other receivables include:
thous.tenge As of 31.12. 2016 As of 31.12.2015Short-term trade and other DZ, including: (line 016 balance)
46044 43422
* Accounts Receivable 48137 43607Short-term receivables employees 62 622Other short-term receivables 993 993**** Provision for receivables 3148 1800Other short-term assets (line 019 balance) 14316 57256** Prepayments 5318 47802***Future expenses 2254 2591**** Advance tax payments 371 372***** Value added tax 5934 6452****** Other current assets 439 39Long-term trade and other DZ (line 115 balance)
21113 24391
*** Long-term prepaymentsThe long-term DZ buyers and customers 21113 24391**** Provision for receivables
Trade receivables are non-interest.The Company entered into an agreement to provide services as of 31.12. 2016: JSC "Air Astana" contract No. 89-16 of 10.11.2016, at JSC Air company "SCAT" contract No. 93-16 on 14.11.16, JSC Air company "Prime Aviation" contract No. 117-16 of 22.11.2016.
б) * Accounts payable
thous.tenge As of 31.12. 2016 As of 31.12.2015JSC "Air Astana" 23591 23838JSC Aviation company "Trans Aero" 1232Airline JSC "SCAT" 4358 1309Branch of Corporation "ExxonMobil Kazakhstan Inc."
1345
Prime Aviation JSC 1733AEROFLOT – Russian Airlines JSC 1491QAZQA AIR JSC 1679Other 15465 15883Total 48317 43607
9. Trade and other receivables, continued
в) * * * * Prepayments include:
As of 31.12. 2016 As of 31.12.2015thous.tengeMagdenli Yer Hizmetleri Ve Tashima A.Sh. 42366StroiDizainServis Co 1750Other 3568 5436Total 5318 47802
г) * * * Other accounts receivable is 2257 thous.tenge.д) * * * * Advance tax payments
thous.tenge As of 31.12. 2016 As of 31.12.2015Corporate income tax on non-resident at the source of paymentLand tax 201 201Property tax 24 24PPI with non-residents 82 88Transport tax 50 45Penalties 14 14Total 371 372
е)***** Long-term trade and other DZ 21113 thous.tenge Atyrau International Airport under a contract №133 / 17 for connection of additional capacities.
3)****** Change in allowance for accounts receivable in the period January 1, 2016 and ended December, 31 2016 was as follows:
thous.tenge As of 31.12. 2016 As of 31.12.2015Beginning balance 1800 4506Written off against allowance 3208(Provisioned) 1860 2706balance at the end of period 3148 1800
10. Prepaid expenses
Prepaid expenses (PE) are recognized as expenses that have been incurred, but in accordance with the principle of correlation and charges are included in the financial result in the period ahead.
All existing PE of Company are current, as will be charged to cost over the next 3 months.
PE, developed as of December 31, 2016.
thous.tenge As of 31.12. 2016 As of 31.12.2015Employee Insurance 1060 1466Property insurance 219transport insurance 880 534Ecological insurance 178 180
Subscribe literature, computer software for lawyers
136 192
Total 2254 2591
11. Inventories
а) Remains of reserves on the balance sheet date were as follows: (OPU line 018)thous.tenge As of 31.12. 2016 As of 31.12.2015Raw materials 1137 593products 307 24Fuel 1921 1737Spare parts 2063 1576Other materials 24773 18764electrical materials 2533 1911Construction Materials 3773 2960Total 36507 27565
б) The movement of inventory in the period beginning January 1, 2016 and ended December 31, 2016 was as follows:
thous.tenge As of 31.12. 2016 As of 31.12.2015Beginning balance 27565 30103Received 86004 60022Used for the production of 26400 32262Used for own needs 16867 5747Modernization OS 4195Used against allowance 26900 24551balance at the end of period 36507 27565
12. Fixed assets
а) Movement of fixed assets for the period from 1 January 2015 to December 31, 2015 was as follows:
thous.tenge Land Buildings and constructions
Machinery and equipment
Transportation Computers, Other OS
Intangible assets
Total
Cost on 01.01.2015 46338 824458 156294 175155 111301 2319 1315865
Supply 1012 2716 3870 3542 11140Retirement 4507 101 7509 810 12927On 31.12.2015, at the cost of the original minutes
46338 820963 158909 171516 114033
2319 1314078
Wear on 01.01.2015 15374 80450 43487 44585 180 184076
Depreciation costs 19422 14314 16051 9165 58952
Total depreciation on 31.01.2015
34796 94764 59538 53750 180 243028
Net book value at 31.12.2015
46338 786167 64145 111978 60283 2139 1071050
12. Fixed assets, continued
б) Movement of fixed assets for the period from January 1, 2016 to December 31, 2016 was as follows: (OPU lines 118,121)
thous.tenge Land Buildings and constructions
Machinery and equipment
Transportation Computers, Other OS
Intangible assets
Total
Cost on 01.01.2016 46338 820963 158909 171516 114033 2319 1314078
Supply 8224 6505 50741 9993 39 75502Retirement 10121 872 19458 30451On 31.12.2016, at the cost of the original minutes
46338 829187 155293 221385 104568 2358 1359129
Wear on 01.01.2016 34796 94764 59538 53750 180 243028
Depreciation costs 20189 3870 20261 -6341 1 37980
Total depreciation on 31.01.2016
54985 98634 79799 47409 181 281008
Net book value at 31.12.2016
46338 774202 56659 141586 57159 2178 1078121
13. Other long-term assetsBy the line (OPU 123)
thous.tenge As of 31.12. 2016 As of 31.12.2015Construction in progress 0 0total 0 0
14. Trade and other payablesAs of December 31, 2016 there was the following payables:
thous.tenge As of 31.12. 2016 As of 31.12.2015Short-term financial liabilities (balance line 212)Short-term trade and other payables, including (Balance line 213)
1323952 1479179
Accounts Payable 4754 9349Debt joint contract organizations 1319198 1469830Short-term benefits 13369 13344Short-term reserves (balance line 214)
Current tax liabilities on income tax (balance line 215)
Employee Benefits (balance line 216) 21392 20786
ther current liabilities including (Balance line 217)
33382 24182
Liabilities for taxes and others. Obligatory payments
5412 3717
Short-term advances received 21098 15652Calculations on obligatory payments funds
6040 4216
on executive payments arrears 453 291Amounts due to accountable persons 9Other short-term payables 379 268Arrears of awarded penalties, interest, penalties
9
Other long-term liabilities 312 {string balance)
Long-term trade and other payables (balance line 313)
13853 21323
Deferred tax liabilities (balance line 315)
Long-term advances received(Balance line 316)
15. Trade and other payables, continued
Trade and other payables are non-interest.
а) ** Accounts payable and other payables
thous.tenge As of 31.12. 2016 As of 31.12.2015Total: 4754 9349JSC International Airport 971 4977Su Arnasy 1660LLP APHA United Company 997other 2123 3375
б)** Debt jointly contract legal persons
thous.tenge As of 31.12. 2016 As of 31.12.2015Total: 1319198 1469830Magdenli Yer Hizmetleri Ve Tashima A.Sh. Company
1319198 1469830
16. Employee Benefits
The table below shows liabilities related to personnel of the Company as at each balance sheet date:
thous.tenge As of 31.12. 2016 As of 31.12.2015Wage arrears 21392 20786Liabilities for pension and social deductions
6040 4216
Provision for vacation 13344 12615
Charge / (recovery) for the year 29497 25578Retirement 29522 26307Provisions for holidays but as of 01.01.2017
13369 13344
г)** Taxes and other mandatory payment obligations
thous.tenge As of 31.12. 2016 As of 31.12.2015Total: 11452 7953Social tax 2676 2046Individual tax 2680 1643Other taxes 56 48Social Insurance Obligation 1898 1313The obligation for pensions 4142 2903
д) * * Advances received
thous.tenge As of 31.12. 2016 As of 31.12.2015Total: 21098 15652«TCO» LLP 2355 1995Coin Air Company 996 1028Aeroflot JSC 1161 975«ВЕК AIR» JSC 825
Other 16586 10829
е)** Other long-term liabilities
thous.tenge As of 31.12. 2016 As of 31.12.2015Total: 0 0
0 0
17. Leasing
a) the Company was concluded financial leasing: financial leasing contract number KTLK / 2511. 08.2014 in the amount of 38,000 thous.tenge, 5223 thous.tenge for compensation payments purchased buses MAZ-171075 in the amount of 2 units.
Creditor Contract currency
Loan period Amount received
Interest rate Maturity value
JSC "Kazakhstan transportLeasing company"
tenge 15.08.2014-15.08.2018
38 000 8% 16677
б) Lease obligations are as follows::
thous.tenge As of 31.12. 2016 As of 31.12.2015Current loan debt 21323 28220
JSC "Kazakhstan Transport Leasing Company"
13853 21323
Total outstanding loans 13853 21323
в) Changing lease obligations during the period was as follows:
thous.tenge As of 31.12. 2016 As of 31.12.2015Beginning balance 21323 28220An leasingRepayment of lease 7470 6897balance at the end of period 13853 21323
Analysis of indicators characterizing the financial and economic activity
The growth in revenue from services for 2016 in relation to the performance in 2015 by 5,76%.
Other income in 2016 totaled 275221 KZT. In 2014, the amount of other income decreased due to exchange lossed 273489 thousand KZT.
Net income derived from the implementation of the main activities in 2016 amounted to 157553thousand tenge.
Accounts receivable increased with respect to last year's figures by 10,90%. Repayment is expected in Q1 2017.
Accounts payable to suppliers increased due to deccreased in procurement by 49,22%.Payables to jointly controlled entity has decreased by 10,25% due.Provision aimed at the development of society in 2016 was partly written by TMZ
administrative and other expenses.
18. Objectives and policies of financial risk management
Company's principal financial instruments comprise loans, cash and cash equivalents. Disclosure of information in this note refers to financial assets and liabilities as defined in IAS 32 "Financial Instruments: Disclosure and Presentation".
a) Derivatives financial instruments and risk managementThe Company does not use derivative financial instruments, and to regulate its exposure to fluctuations in foreign currency exchange rates, interest rates and commodity prices.
b) Foreign currency riskThe Company is exposed to currency risk. This exposure arises in connection with the purchase and sale transactions in currencies other than the functional currency of the Company. Company's functional currency is the tenge. The currencies that give rise to such a foreign exchange risk are primarily the US dollar. The Company does not enter into transactions to hedge its exposure to foreign exchange risk.
c) Credit riskThe Company does not require collateral in respect of financial assets.The Company's policy is to assess the creditworthiness of customers who intend to buy credit for a certain amount. The Company regularly monitors its exposure to risks of bad debts in order to reduce such exposure to a minimum.
Credit risk related to other financial assets of the Company, comprising mainly cash and cash equivalents, there is a risk of a possible failure of counterparties. Management regularly monitors the financial strength of counterparties, using their knowledge of the conditions of the local and foreign markets. The maximum exposure to credit risk is represented by the carrying amount of each asset on the balance sheet date.
d) Interest rate riskThe Company has assets and liabilities subject to interest rate risk. Changes in interest rates impact primarily on loans and borrowings by changing their fair value. The Company does not use hedging instruments to minimize such exposure.
e) Fair value of financial assets and liabilitiesThe fair value of long-term financial instruments have been determined at the reporting date by discounting the estimated future cash flows using interest rates the cost of capital for the company or the built-in tool of the interest rate (which is the most appropriate and applicable). As a result of the work, management has determined that the fair value of the majority of financial assets and liabilities, including cash and cash equivalents, trade receivables, restricted cash to use, trade payables and borrowings approximates their carrying values.
19. Contingencies and contingent liabilities
a) InsuranceThe insurance industry in the Republic of Kazakhstan is in a developing state and many forms of insurance protection common in other countries, yet are generally not available in Kazakhstan. The Company has no insurance covering third party liability in respect of property or environmental damage arising from accidents. There is a risk that the loss or destruction of certain assets could have a material effect on the financial position of the Company.
b) Environmental liabilitiesThe Company is obliged to comply with various laws and regulations concerning the protection of the environment. The Company is obliged to develop environmental projects undergo environmental assessment and obtain standards for maximum permissible emissions of pollutants. This project has been developed and approved by the Environmental Protection authorized environment body. Although Management believes that the Company complies with all the requirements of the Government regarding the protection of the environment, we can not be sure that there is not any contingent liabilities related by environmental legislation.
To reduce the possibility of such risks, the Company insures its liability for damage to the environment.
19. Contingencies and contingent liabilities, continued
в) Contingent liabilities on the taxation
(xi) The uncertainties in the interpretation of existing tax laws
The Company is exposed to the uncertainties related to the determination of tax liabilities for each reporting period. Because the existing tax system and tax laws in effect for a relatively short period of time, these uncertainties are more significant than those typically found in countries with more developed tax systems. Applicable taxes include value added tax, excise tax, corporate income tax, social tax, property taxes, transport and land. Laws relating to the applicable taxes are not always clearly defined, and the legislation that is constantly evolving, and has a different interpretation of the constantly changing, and consistently applied.
The uncertainty in the application and development of tax legislation creates the risk that the Company will have to pay additional taxes that may have a material adverse effect on the Company's financial position or results of operations.
(xii) Period for assessment of additional taxes
The tax authorities have the right to credit additionally taxes for five years after the end of the tax period for all taxes. For the period of the year 2008 has been declared a moratorium on planned inspections by the tax authorities of small and medium businesses. Check the correctness of the calculation of taxes and other obligatory payments to the budget can be carried out only at the request of the taxpayer or a third party. The company belongs to medium-sized businesses, and covered by this moratorium. This moratorium has been extended until the middle of 2009.
(xiii) The possible additional tax liabilities
Management believes that the Company, as a whole, fulfills the requirements of the tax legislation and the conditions under the contracts relating to the taxes which affect its operations and that, therefore, no further tax liability does not arise. However, for the reasons stated above, the risk remains that relevant authorities could otherwise interpret treaty provisions and tax regulations. This can result in significant additional tax liabilities. However, due to the above described uncertainties in the assessment of any potential additional tax liabilities, to guide it seems impossible to make any assessment of additional tax liabilities that may arise, together with all their associated penalties and default interest for which the Company may be liable.
20. Events after the balance sheet date
The “ATMA- Atyrau Airport and Transport” JSC from January 01, 2016 to the present day of the year, there have been events that are significant and that could influence the economic decisions of users taken on the basis of the financial statements ending December 31, 2016.
Chief accountant G. B. Tulegenova
/stamp: “ATMA- Atyrau Airport and Transport” Joint Stock Company/
/stamp: Sairan Kartabayev, Auditor of the Republic of Kazakstan, 0080/
Branch of the “Caspian-Audit” Limited Liability Partnership in Atyrau oblast
/logo/ 060000, h. No.21, Sadykov street, Leskhoz mcd., Atyrau city, Atyrau oblast, the RoK
BIN 120241019691, TRN 151000055322,Tel: 8(7122) 365533, E-mail: [email protected]
State license, issued by the Ministry of Finance of the Republic of Kazakhstan under No. 14003928 of
March 26, 2014
Commentary to the report of the independent auditor on the financial statements of "ATMA - Atyrau Airport and Transport" JSC as of December 31, 2016
The independent auditing organization branch of "Caspian-Audit" LLP in Atyrau oblast, represented by the auditor S. Kartabayeva (qualification certificate number 0000080 issued on 13.06.1994, the qualification commission for certification of auditors of the Republic of Kazakhstan and the state license of LLP "Caspian-Audit" number 14003928 from 26.03.2014 issued by the Committee of financial control Ministry of Finance of the Republic of Kazakhstan) and project partner and audit Ibatov GI, under contract No.09 of May 16, 2016, audited the accompanying financial statements of "ATMA - Atyrau Airport and Transport "consisting of a balance sheet as at December 31, 2016, the statement of revenue and expenditure, statement of changes in equity, cash flow statement for the year ended on that date.
In carrying out the audit, guided by the Law of RK-139 N13RK from 05.05.2006 "On audit activity in the Republic of Kazakhstan" (as amended), the Law of RK № 234-Shot 28.02.2007g. "On Accounting and Financial Statements", the international standards of accounting, the Articles and Memorandum of Association of "ATMA - Atyrau Airport and Transport" applications.
An audit conducted in accordance with International Standards on Auditing, to get sufficiently substantiated information about whether the financial statements are free of material misstatement. The audit carried out on the basis of a sample, and in some cases - a continuous check of primary documents confirming the information on the disclosure of information in the financial statements.
Responsibility for the organization of accounting, preparation and fair presentation of financial statements in accordance with Article 8 of the Law № 234-Shot 28.02.2007 "On Accounting and Financial Statements" (as amended) and presentation of the audit documents rests with the management of "ATMA - Atyrau Airport and Transportation".
The audit started May 23, 2017 and finished May 15, 2017. In the process of auditing the Company's management the following documents:
The package of constituent documents: Articles of Association of JSC "ATMA - Atyrau Airport and Transport"; certificate of state re-registration of the legal entity № 2119-1915-AO (DUT), business identification number 951 240 000 809, registered by the Department of Justice of Atyrau region, from 12.12.2008, primary state registration 26.12.1995, the certificate series B, №0317188; statistical card from 15.12.2008 OKPO: 39089660, date code assignment dated 26.12.1995, issued as a VAT payer by the Department of Atyrau region on statistical evidence of the value added tax lot number 15001 0001245 from 29.12.2009 to 01.02.2002 issued at Atyrau TA, TIN: 151000019026.
Source documents, registers of synthetic and analytical accounting, and financial statements for 2016 (trial balance of accounts, analysis and card accounts and database 1 On the "Accounts", bank
records, expense reports, material reports, payroll, contracts, agreements and other accounting documents).
During the audited period stewards loans were as follows:On the right of first signature: General Director- Avkan Kemal;With right of second signature: Chief accountant - G.B. Tulegenova;
AUDIT PROGRAM:
1. Information of "ATMA - Atyrau Airport and Transport» JSC2. Accounting organization3. Accounting for cash and banking operations4. Allowance for accounts receivable and payable5. Accounting for fixed assets, intangible assets and inventories6. Accounting for settlements with the personnel on payment and OPV7. Consideration of the authorized capital, income and expenses
1. General Information
The "ATMA - Atyrau Airport and Transport» JSC operates in accordance with the constituent documents of the Republic of Kazakhstan in the framework of the law, re-registered by the Department of Justice of Atyrau December 12, 2008 for № 2119-1915-AO (DUT), OKPO code 39089660.Business taxpayer identification number 951240000809According to the register of holders of securities the shareholders of the company are:
The company «Magdenli Yer Hizmetleri Ve Tashima A.Sh.» - Turkish shareholder. “National Company” Socio-Entrepreneurial Corporation “Atyrau” JSC - Kazakh
shareholder.The authorized capital of the Company is 244,380,000 (two hundred forty four million three hundred eighty thousand) tenge. Number of issued ordinary shares of the Company is 6,000 (six thousand) shares placed among the shareholders of the Company.
Turkish shareholder - 3,000 (three thousand) shares in the amount of 3 000 000 (three million) or 122 190 000 (one hundred twenty two million one hundred ninety thousand) tenge, which is 50% of the paid-up share capital of the company.
Kazakh shareholder - 3,000 (three thousand) shares in the amount of 3 000 000 (three million) or 122 190 000 (one hundred twenty two million one hundred ninety thousand) tenge, which is 50% of the paid-up share capital of the company.
The scope of activities of the Company are:- in respect of aircraft and equipment of the full range of works and services that are part of
airport activities, as well as in respect of airport facilities, air terminal complexes and infrastructure;
- compliance with mandatory technical maintenance schedules aircraft and helicopter fleet, providing continuity of control and continuity of aircraft production;
- ensuring all ground services, passenger services and freight management and operation of the hangar and airport facilities between landing and departure of aircraft and helicopters in the Atyrau airport according to the developed tariffs; acquisition, implementation, acceptance and surrender to lease, rent, freight;
- construction, manufacturing, design, reconstruction, repair, alteration, execution of accompanying all types of construction, installation and commissioning works; fire support;
- provision of civil aircraft, facilities and services of the airport and materials special fluids, control their quality;
- providing operators of civil aircraft and other users of special vehicles;
- information and reference service for passengers, crews, population data needed in the field of civil aviation and other activities provided by the Charter
2. The organization and accounting system.
It maintains its accounting records in accordance with International Financial Reporting Standards (on an accrual basis, continuity, understandability, relevance, reliability, consistency, etc.) and the typical plan for IFRS accounts.
Accounting in enterprise is carried out by automated way - "1C Enterprise 8.2."The general ledger monthly turnover recorded and displayed on the balance of
accounts. Remains of analytical and synthetic accounting of accounts are consistent with the general ledger and accounting data.
3. Cash and cash equivalentstenge
Account Beginning balance Period transactions Balance at the end of period
Code Name Debit Credit Debit Credit Debit Credit1010 Cash on hand 2979726 62774462 63502634 22515541020 Cash in transit 207481814 207481814 -1030 Cash on current
accounts3425464 1189714814 1191723329 1416388
1060 other 1629456 462590 301872 1790174
Information related to record-keeping in the appropriate accounts:
Accounting for cash transactions carried out in accordance with the Resolution of the Government of 14.10.2011, № 1172 "Accounting rules" Chapter 4, "Accounting for cash transactions";
Cash accommodation is located on the second floor of the lattice in the windows and on the door alarm is not available;
The contract of full liability to the Cashier made (copy attached);
Balance at the end of the month reconciled with the general ledger with the report of the cashier, discrepancies were found. Not available laced cash book, register of credit and debit orders.
There is a cash register at the box office and on every cash point;
The incoming and outgoing cash orders all the signatures are available, the number and date coincide with the registry book;
Unusual wiring calculation account and are not found at the box office;
All primary documents are prepared properly, stitched, stamped, stamped, there are all the necessary details for a complete reflection on the accounts of accounting;
Incoming and outgoing cash transactions are confirmed by bank statements;
Check the correctness of the classification and disclosure in the financial statements, where the violation is not established;
When checking the cash assets of the company have been checked all accounts of cash companies sploshnymmetodom from January to December 2016;
Balance on current accounts verified with bank confirmation, verified correctly reflect balances in bank accounts with the accounting data, where the violation is not established;
Balance on hand checked against an act of the inventory register. Certificate issued and signed in accordance with company policy. Discrepancies were found not;
Studied monetary operations for the audited period, checked operations inflow and outflow of cash from the cash register and settlement of accounts, verified amounts on a bank statement with the accounting records;
Check the completeness of receipt of funds from the settlement account at the cashier of the enterprise;
Check the correct execution of cash documents and cash management, data
cashier reports reconciled with the accounting records;
Foreign currency transactions and foreign currency account there.
Cash balances on extracts correspond to residues log-orders and general ledger.
Cash payments, including wages and accountable to the money made through the cashier. The audit performed by a continuous method, violations are not revealed
On January 1, 2016 the rest of cash amounted to 2 979 726 tenge.For 12 months of 2016 cash flow amounts to 62 774 461 tenge, including:
- current account – 1 300 000 tenge;- The buyer and customers -7 393 568 tenge;- podotchetnyh entities-6 296 495 tenge;- payment labor - 0 tenge- Short-term advances – 47 512 666 tenge;- Exchange difference – 247 732 tenge:- Others – 24 000 tenge.
Disposed of cash in the amount of 63 502 634 tenge, including:- Current account – 19 438 681 tenge;- Accountability – 26 059 906 tenge;- Short-term advances – 148 500tenge;- Suppliers and contractors – 3 630 000 tenge;- Labor costs – 13 851 780 tenge;- Short-term advances - 0 tenge;- -Exchange difference -373 766 tenge;December 31, 2016 cash balance – 2 251 554 tenge.
Cash flow is determined by the direct method. The company has an account at a branch of JSC "Kazkommertsbank" Atyrau BIKK2K02KH, INC K238926060111587000 Tenge bill.
On January 1, 2016 the current account balance of 3 425 464 tenge.For 12 months of 2016 were received in the amount of 1 189 714 253 tenge, including:
- Booking – 19 438 681 tenge;- Cash in transit – 205 359 768 tenge;- Buyers and customers – 768 491 885 tenge;
- Short-term compensation – 3 505 tenge:- Other – 1 093 395 tenge:- Prepayments – 292 102 tenge;- Long-term advances – 3 278 260 tenge;- Mandatory payments – 39 230 tenge;- Suppliers and contractors – 21 210 tenge;- Wages - 0 tenge;- Advances received – 190 365 274 tenge;- Exchange differences – 690 853 tenge;- Other - 0 tenge.
Disposed of cash in the amount of 1 191 723 329 tenge, including:- Cash – 1 300 000 tenge;- Cash way- 207 570 976 tenge;- Buyers and customers – 100 000 tenge;- Accountability – 3 618 744 tenge;- Other – 85 878 tenge;- Prepayments – 109 336 906 tenge;- Other taxes and charges – 156 298 863 tenge;- Mandatory payments – 52 902 465 tenge;- Suppliers and contractors -96 284 979 tenge;- Associates and joint ventures – 209 058 613 tenge;- Dividends and earnings of participants- 0 tenge;- Joint organization - 0 tenge;- Remuneration – 324 909 775 tenge;- Current portion of long – 7 469 958 tenge;- The remuneration payable – 1 435 877 tenge;- Others – 16 638 509 tenge;- Advances received – 1 053 050 tenge;- Administrative expenses- 2 838 003 tenge;- Exchange differences – 825 968 tenge;
At 31 December 2016 the current account 1 416 388 tenge residue
On January 1, 2016 the rest of the other funds 1 629 456 tenge.For 12 months of 2016 cash flow amounts to 462 590 tenge, including:
- from the account - 190 382 tenge;- Income from exchange rate differences – 272 208 tenge.
Disposals of cash – 301 872 tenge, including:- Flow from exchange rate differences – 301 872 tenge;
On December 31, 2016 the current account balance of 1 790 174 tenge.
4. Accounting for receivable.
tengeAccount Beginning balance Period transactions Balance at the end of
periodCode Name Debit Credit Debit Credit Debit Credit1210 Short-term receivables
from buyers and customers
436072971022146195 1017616942 48136550
1251 Short-term receivables accountable persons 621564 29729458 30289096 61926
1252 Arrears in payment of wages
- -
1281 Return TMZ 44047 440471630 Other activies 39361 13053833 12653915 4392791284 other 923216 2152989 215298
9993216
1290 Allowance for doubtful requirements
- 1799977
1860556
3028103
3147524
1610 Short-term prepayments 47801797 116894570 159378
786 5317582
Note to the accounts receivable balances
Article title Beginning balance, tenge
Balance at the end of period, tenge
Note
Short-term receivables from buyers and customers (1210)
43607297 48136550 For services received during the year
Accounts receivable of accountable persons (1251)
621564 61926 Outstanding in the amount of accountability at the end of the year
Arrears in payment of wages (1252)
- - -
Allowance for doubtful requirements (1290)
(1799977) (3147524) -
Short-term prepayments (1610) 47801797 5317582 Advances for services
Others short-term (1630) 39361 439279
Trade receivables on account №1210-48 136 550 tenge, other short-term receivables of the account # 1251 – 61 926 tenge, on account №1290- (3 147 524) tenge , on account 1610 – 5 317 582 tenge and the number 1630 – 439 279 tenge.
Information related to record-keeping in the appropriate accounts:
Logs of transactions (operations) on the accounts in 1210, 1251, 1252, 1281, 1982, 1284, 1290, 1610 and 1620 tested a continuous method for compliance with the yield on the analysis of accounts, trial balance. The balance and turnover on the accounts of analytical accounting fully transferred to the general ledger. All transactions for the sale of goods (works, services) arising from the contractual relationship, not contradicting the current legislation.
Accrued interest added tax invoices and for numbering, arithmetic data corresponds to the bill of lading and has power of attorney to receive the goods, there is a PPC.
Checked registrations magazine issued warrants, canceled the power of attorney and issuing no marked data and signatures. Allowance for doubtful accounts is not established as bad debts are absent.
During the audit of accounts receivable tested a continuous method, all the primary documents, invoices, bills of lading, certificates of acceptance of works contract, where violations were found.
Has sent a list of receivables on 31.12.2016, overdue receivables are not available.There is a list of responsible persons for permission to cash dispensing for household
needs and the contract of full liability, as well as the consent of the retention of unpaid imprest payroll. In accountability money is not issued to persons not previously reported for amounts received, as well as persons who are not employees of the Company.
Consumables documents included in expense reports confirmed by documents (invoices, receipts, etc.)..
1. Expense reports issued correctly, all the expenses are approved by authorized persons (director, chief accountant).2. Travel expenses shall be written off within the standards regulated by the tax legislation.3. The order of the decorated, stamped on arrival and departure in the travel documents and filled with all the necessary details and signatures of officials.4. The unspent amount is returned in a timely manner and for the dismissed workers arrears are not available.5. When buying small stocks (stationery and other) shall be issued, imprest and accountant draw up advance reports. Getting inventory carried out by proxy.
5. Inventoriestenge
Account Beginning balance Period transactions Balance at the end of period
Code Name Debit Credit Debit Credit Debit Credit1310 Raw
materials and supplies
27564940
155333101
146391136 36506905
Information related to record-keeping in the appropriate accounts:
The movement of inventories issued standard forms of primary documents and the documents approved by the Accounting Policy. Turnovers and balances match the card account data, analysis of accounts, trial balance of accounts;
Reporting materially responsible persons compiled on a monthly basis; The cost of inventories in accounting are accounted for using the FIFO method, the weighted average cost is used in certain cases;
Substantive conducted a survey method, analysis, comparison of records in documents, accounting records. Inventories capitalized in the evaluation, provided the accounting policies.
Reporting materially responsible persons prepared monthly reports material completely checked.
Held in the community inventory TMZ, according to the accounting policy on 01/11/2016. We checked the correctness and completeness of registration protocols, collation statements, acts of inventory and other documents on the results of the inventory, where violations were found.
We have checked the documents between the reporting date and the date of the inventory continuous method, leaving a balance was confirmed on 01.11.2016. Discrepancies were found.
Inventories are registered for the employees and with them a contract on a full liability. Unmarketable and stale inventories are absent, primary documents (credit and debit invoices
etc.) filled by the template, designed correctly and the correct amounts of arithmetic calculations.
Tested in the accounts, "unusual" transactions were found cancellation is made in accordance with the accounting policy for the acts of the current commissions.
Write-off of fuel and lubricants produced by the Company in accordance with the basic norms of fuel consumption, approved on 15.02.2010, developed in accordance with the Regulations "On the valuation flow fuel and lubricants and maintenance materials for the automotive and special equipment", approved by the joint order of the Ministry of Transport and Communications of Kazakhstan on 20.07.2001 number 226-1 and the Ministry of energy and mineral resources of RK from 16.07.2001 number 176, consistent with the Office of Road transport Ministry of transport and communications of Kazakhstan from 15.06.2001 № 04-17 / 4315 and JSC "KazTransOil" on 30.03.2001 number 3216;
The audit performed by a continuous method, violations were found. Produced inventory on 01.11.2015, that is, we have not been made for monitoring inventory, since our appointment as auditor occurred after that date.
Note to the remains of materials:
Name Beginning balance Balance at the end of period Note
Raw materials and supplies 27 564 940 36 505 905 Required storage
Current tax assetstenge
Account Beginning balance Period transactions Balance at the end of period
Code Name Debit Credit Debit Credit Debit Credit1410 Corporate income
tax payable7678651 26000002 20750442 12928210
1420 Value added tax - 34305334 343053341430 Other taxes
372239 57062504
57064055 370688
Note to the remains
Name Beginning balance Balance at the end of period Note
Corporate income tax 7 678 651 12 928 210
Overpayments
Other taxes 372 239 370 688 Overpayments
6. Prepaid expensestenge
Account Beginning balance Period transactions Balance at the end of period
Code
Name Debit Credit Debit Credit Debit Credit
1620 Prepaid expenses 2590923 4708377 5045475 2253824
Note to the remains of prepaid expenses
Name Beginning balance Balance at the end of period Note
Prepaid expenses (1620) 2590923 2253824 Subscription and insurance
7. Basic toolstenge
Account Beginning balance Period transactions Balance at the end of period
Code
Name Debit Credit Debit Credit Debit Credit
2410 Basic tools 1068911359
236243132 229211041
1075943450
Intangible assets
tengeAccount Beginning balance Period transactions Balance at the end
of periodCod
eName Debit Credit Debit Credit Debit Credit
2730 Intangible assets 2138926 38720 323 2177323
The value of fixed income funds is 67239495 tenge, including the amount of modernization and overhaul of fixed assets in the amount of 8223500 tenge and decommissioned 4011955 tenge.
The size of depreciation on fixed assets is determined by the following indicators:- The original value of fixed assets;- Useful life;- The method of calculating depreciation.
For calculating depreciation Company applies the following useful lives in groups:- Building, 20-50 years;- Machinery and equipment, 5-10 years;- Transport materials- 7-12 years;- Other fixed assets -5-15 years.
Depreciation is calculated on a straight (straight-line) depreciation.Accrued depreciation in the amount of 64 418 948 tenge in 2016.
Information related to record-keeping on the accounts:
• Accounting and movement of fixed assets carried on the respective types of accounts chart of accounts in accordance with the methodology of IFRS (IAS) 16 "Fixed Assets";
• The Company applies the types of primary documentation on the movement of fixed assets. Contract of liability with the material and responsible persons are enclosed;
• The accounting depreciation is calculated monthly on a straight line (straight line) depreciation OS;
• Checked traffic count and the presence of fixed assets: accounting entries are made on the basis of invoices, acts template OS-1; entry in the accounts match analysis of accounts, general ledger.
• Depreciation is charged on a straight (straight) of depreciation and refers to the appropriate expense account.
• Tested selectively fixed assets, reflected in the account, discrepancies were found and executed the relevant documents and conducted transactions.
• The balance sheet provides information on the residual value of the OS. The explanatory memorandum summarizes the initial and the residual value of the operating system, as well as the amount of accumulated depreciation as at the beginning and at the end of the period.
• Discrepancies between the accounting and reporting have been identified, the requirement of IFRS in terms of OS data reflect met
Information related to record-keeping in the appropriate accounts:
Accounting and movement of intangible assets is carried out on the respective types of accounts chart of accounts in accordance with the methodology of IFRS (IAS) 17
"Intangible Assets"; Applies types of primary documentation on the movement of intangible assets; The accounting depreciation is calculated monthly on a straight line (straight line)
depreciation, useful life of 3-10 years; The intangible assets are different programs and anti-virus software. The purchase 38 720 tenge, sale and write-offs of intangible assets were not conducted in
2015.
5. Other non-current assetstenge
Account Beginning balance Period transactions Balance at the end of period
Code
Name Debit Credit Debit Credit Debit Credit
2910 Prepayments 24391208 3278260 211129482930 Construction in
progress-
2933 Upgrading the operating system and KR
8223500
8223500
Note to the remains of long-term assets
Name Beginning balance, tenge
Balance at the end of period, tenge Note
Prepayments (2910) 24391208 21112948 Garant of International Airport since 2007
6. Accounting for accrued dividendstenge
Account Beginning balance Period transactions
Balance at the end of period
code
Name Debit Credit
Debit Credit D Credit
3030
Short-term credit - - -
Note to the remnants of accrued dividends
Name Beginning balance, tenge
Balance at the end of period, tenge Note
Short-term credit (3030) - -
7. Taxationtenge
Account Beginning balance Period transactions Balance at the end of period
Code Name Debit Credit Debit Credit Debit Credit3110 Corporate income tax
payable- 20268101
20268101-
4310 Deferred CIT - - -3120 Individual income tax 1643195 26005827 27042373 26797413130 Value added tax
6451973
98421132 98939416 5933689
3150 Social tax 2045765 23237249 23868020 26765363160 Land tax - 2054899 20548993170 Vehicle tax 724641 7246413180 Property tax - 4823279 48232793190 Other taxes
47679 1558635 1566826
55870
Note: The tax arrears
Taxes Balance as of 31.12.2016
Note
Corporate income tax - Debt is not
Deferred CIT - -Individual income tax 2 679 74 Debt for the period from
December, 2016
Social tax 2 676 535 Debt for the period from December, 2016
Others taxs 55 870 Debt for the period from December, 2016
1. In the audited period, the Company is a payer and has objects of taxation to individual, social, VAT, property tax on vehicles, land and other (pollution) tax.
2. Calculation of tax to individual, social, VAT, property tax on vehicles, land and other (pollution) taxes are carried.
Accrued taxes to individual, social, VAT, property tax, vehicle tax, land and other (pollution) taxes correctly reflected in the accounts of the Model Chart of Accounts and have the correct arithmetical outcome, in statements charges, trial balance, general ledger , balance sheet.
Charges VAT receivable and accrued verified by invoices, received and presented for payment. On the correctness of the invoice can not be held responsible.
Amounts correctly reflected in the accounts of the Model Chart of Accounts, in oborotno¬saldovyh statements, general ledger, balance sheet.
Tested results of arithmetic, the declaration form 100.00. No significant errors were found.
Accrued corporate income tax correctly reflected in the accounts of the Model Plan accounts, trial balance, general ledger, balance sheet.
8. The account of calculations with the personnel on payment and OPV
tengeAccount Beginning balance Period transactions Balance at the end
of periodCode Name Debit Credit Debit Credit Debit Credit3350 Short-term wage arrears 20785874 408252596 408
858657
21391935
3210 social security obligations 1312731 16284192 16869038 1897577
3220 Liabilities for pensions 2902874 36618273 37857721 4142322Note: The wage arrears and OPV
Taxes Balance as of 31.12.2016
Note
As wages 21 391 935 Debt for the period from December, 2016
Social security 1 897 577 Debt for the period from December, 2016
For pensions 4 142 322 Debt for the period from December, 2016
Information related to record-keeping in the appropriate accounts:
The account of calculations with the personnel on payment is reflected in account 3350 "Short-term arrears of wages";
Check availability of orders, private affairs, staffing, labor agreements, contracts and timesheets with employees. Retrieved on vault wage settlements, settlement and payroll payroll, vacation pay, temporary disability benefits. Verified account deposited wages, accrued bonuses, bonuses, availability of accounts receivable and payable on wages. Checked payment obligations to employees for payment of vacation pay (payment), compensation for unused vacation, reflected in the accounting records. Audit of correctness of accrual and retention of wages a continuous method for the employees of the company has not set differences;
Night, overtime, weekends and holidays, material goods (rental housing, food, travel over the rules and so on) are included as other income.
Installed correctly comply with regular discipline; payment on tariff rates and salaries; correct calculation of the average wage.
Accounting for OPV in the accounting records maintained in the account 3220 "The obligation for pensions" according to the Rules of OPV deduction and transfer to pension funds for №245 from 15.03.99 (as amended);
Accounting for retention of compulsory pension contributions in the company complies with Regulation retention and transfer of OPV to pension funds on 15.03.99 for №245 (as amended)..
9. Accounting for payable.tenge
Account Beginning balance Period transactions Balance at the end of period
Code Name Debit Credit Debit Credit Debit Credit3310 Short-term trade receivables 9348231 239463221 234868859 47548683330 Short-term payables
Associates and Joint1469829629 542444153 391812203 1319197679
3370 organizations 7469958 74699583380 Sgort term benefits payable 1435877 14358773392 Current portion of long-term
payables9910 518950 509040
3395 According peniyam fines in penalties
290579 3913569 4075528 452538
3396 According to the executive 9243 9243 -3397 accountable persons 268826 12645427 12755967 3793663430 other 13343808 29496659 29521605 133687543510 Provisions Remuneration
pits workers15651674 233861830 239308498 21098343
Note to the accounts payable
Obligations Balance as of 31.12.2016
Note
Accounts payable to suppliers4 754 868
Debt, formed from August to December, 2016.
Short-term payables of associated and joint organizations
1 319 197 679 Magdenli formed since 1994
According peniyam fines in penalties -
According to the executive 452 538 Debt, formed since December, 2016.Accountable persons - Debt, formed from december, 2016Other 379 366 Debt, formed from december, 2016Provisions for employee benefits 13 368 754 Debt, formed from december, 2016Short-term advances 21 098 343 Debt, formed from August to December,
2016
Information related to record-keeping in the appropriate accounts:
During the audit of accounts payable checked by a solid all primary documents, invoices, bills of lading, certificates of acceptance of works contract, where violations were found.
Accounts payable, on which the limitation period has expired, there is no, and there is reconciliation acts.
Accounts payable is ongoing, the bulk of the debt accounts for a period of occurrence of 1 to 07 months.
Commitments tested a continuous method for invoices, journals entries, contracts. Supplier Invoices accepted by the established procedure. Produced reconciliation records for trial balance, billing analysis. Tested mail accounts, VAT calculation is correct, the entry in the general ledger, balance sheet. To verify the correctness and completeness of capitalized inventories, services, timeliness and correctness of the bills payment.
Accounting for account payables conducted on an accrual basis. Analytical records are maintained for each supplier that provides the ability to obtain data from suppliers, the period has not come of payment issued on advances.
Received and verified transcript of accounts payable and reconciled balances, where the offense is not revealed.
"Unusual" transactions and operation are not found.
10. Accounting for short-term bank loanstenge
Account Beginning balance Period transactions Balance at the end of period
Code Name Debit Credit
Debit
Credit
Debit
Credit
3380Short-term remuneration to be paid - -
11. Accounting for long-term debttenge
Account Beginning balance Period transactions Balance at the end of period
Code Name Debit Credit
Debit Credit
Debit Credit
4150Long-term debt on lease
21322912 7469958
-13852954
Note to the long-term debt
Obligations Balance as of 31.12.2016
Note
Long-term debt on lease
13852954
Leasing company, contract No. KTLK/ 25 from
08.11.2014
12. Equitytenge
Account Beginning balance Period transactions Balance at the end of period
Code Name Debit Credit
Debit
Credit
Debit
Credit
5020 Common shares 244380000 244380000
5400 Reserves including 88873278 27002883
- 57098697
5410 constituent instruments 40564396 29599585
- 10964811
5420Revaluation of fixed assets 48308882 217
4996-
46133886
5500Retained earnings including uncovered loss
(652669087) - 159728090
(492940997)
5510 Reporting year (548790704) 159728090
(389062614)
5520 Previous years (103878383) (103878383)
Information related to record-keeping in the appropriate accounts: Checked design of the foundation agreement, minutes, bylaws, which are not found violations,
the formation of the authorized capital has not happened. "Unusual" transactions were not found and there is no provision in 2016 for Company's
development. According to the audit the total revenue amounted to 1 211 182 477 tenge according to the
financial and economic activity of the company in 2016, including in the context of accounts and types:
6010 Revenue from sales of goods and services 9359581576110 Sort term benefits payable 35056210 Gain on disposal of assets 1785716250 Income from exchange rate differences 2734894046280 Other income 1552840
According to the audit of the total costs in the accounting of the Company's operations in 2016 amounted to 1 053 871 225 tenge, of which in the context of accounts:
7110 Distribution costs 405432244711 1 Expenses at repairing OS 201505107200 Administrative expenses 2123507527310 Remuneration costs 14358777410 The costs of asset retirement 1011867420 Expenses on impairment of assets 40119557430 Foreign exchange losses 2486598457440 The cost of creating a reserve 32054367470 other expenses 1585234207710 The corporate income tax
Provided analysis of accounts and trial balance and ledger.
In our opinion, the financial statements at the time of completion of the audit is objectively and fairly in all material respects, represent the financial position of the Company as of December 31, 2016.
We express our gratitude to the management of the Company for the understanding of the recommendations of the partners and the auditor’s data and aimed to improve the accounting system.
Auditor,
qualification certificate № 0080: S. Kartabayev
Project and audit partner G. I. Gabit
June 06, 2017
/stamp: Republic of Kazakhstan, Branch of the “Caspian-Audit” Limited Liability Partnership in
/stamp: Sairan Kartabayev, Auditor of the Republic of Kazakstan, 0080/