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Annual Report & Accounts 2009 - Financial Statements
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64 RECONCILIATION OF CONSOLIDATED BALANCE SHEET OF GAMING VC HOLDINGS S.A. AS PREPARED UNDER IFRS TO THE COMPANY BALANCE SHEET OF GAMING VC HOLDINGS S.A. AS PREPARED UNDER LUXEMBOURG GAAP This reconciliation, which has not been audited, is designed to assist shareholders with their understanding of the preparation of the accounts of the Company under Luxembourg GAAP, which appears on pages 66 to 74. All in c000's and at 31 December 2009 Balance Sheet of The Balance Adjustments Company Consolidated Sheet of under Under Balance Consolidation the Luxembourg Luxembourg sheet Adjustments Company GAAP GAAP Non Current Assets Property, plant & equipment 1,099 (1,099) - - - Intangible fixed assets 63,182 (63,182) - - - Deferred tax asset 53 (53) - - - Shares in affiliated undertakings - 63,696 63,696 - 63,696 Formation expenses - - - - - 64,334 (638) 63,696 - 63,696 Current assets Amount owed by affiliated undertakings - 6,261 6,261 - 6,261 Other 28,117 (14,749) 13,368 - 13,368 28,117 (8,488) 19,629 - 19,629 Current liabilities Amounts owed to affiliated undertakings - (25,546) (25,546) (1,925) (27,471) Other (9,276) 9,159 (117) - (117) (9,276) (16,387) (25,663) (1,925) (27,588) Current assets less current liabilities 18,841 (24,875) (6,034) (1,925) (7,959) Long Term Liabilities Deferred Consideration on Betboo (5,354) 5,354 - - - Net assets 77,821 (20,159) 57,662 (1,925) 55,737 As represented by: Retained earnings at 1 Jan 2009 24,168 (20,134) 4,034 (2,518) 1,516 Profit for the year 13,454 (2,631) 10,823 (6,161) 4,662 Interim dividends (7,370) - (7,370) 6,227 (1,143) Retained earnings at 31 Dec 2009 30,252 (22,765) 7,487 (2,452) 5,035 Share premium account at 1 Jan 2009 13,832 - 13,832 1,980 15,812 Dividends paid from Share Premium (5,084) - (5,084) - (5,084) Share option reserve 213 2,606 2,819 (2,819) - Legal reserve - - - 1,366 1,366 Total reserves 39,213 (20,159) 19,054 (1,925) 17,129 Share Capital 38,608 - 38,608 - 38,608 77,821 (20,159) 57,662 (1,925) 55,737