Financial statements

NOTE 10



CURRENT FINANCIAL INVESTMENTS

Details of this heading in the balance sheet at 31 December 2018 are as follows:

CURRENT FINANCIAL INVESTMENTS (euros) 01/01/2018 Additions Disposals Transfers 31/12/2018
SHORT-TERM FINANCIAL INVESTMENTS
Short-term deposits at financial institutions 93.161.956 77.151.678 (-)93.151.599 0 77.182.035
Short-term deposits at financial institutions 92.995.102 76.693.551 (-)92.609.614 0 77.079.039
Short-term deposits (interest accrued and not paid) 166.854 458.127 (-)521.985 0 102.996
Current public sector debt, Government of Andorra 7.725.829 4.851.460 (-)7.988.462 38.002.475 42.591.301
Public sector debt (acquisition cost) 7.597.108 4.489.085 (-)7.597.108 37.938.420 42.427.505
Public sector debt (interest accrued and not paid) 128.721 362.375 (-)391.355 64.055 163.796
Loans to related parties 28.313 515.527 -28.313 23.074 538.601
Current deposits and guarantees given 0 2.783 0 0 2.783
TOTAL CURRENT FINANCIAL INVESTMENTS 100.916.098 82.521.488 (-)101.148.375 38.025.549 120.314.721

Term deposits

Term deposits comprise a number of deposits with Andorran banks.

Current public debt

The value and main conditions applicable to the issues are detailed below:

Issue Cash amount subscribed Maturity Annual return Interest accrued and not paid Valuation 31/12/2018
Issue 36 months - bonds 19/12/2016 20.755.000 19/12/2019 1.15% 7.847 20.762.847
Issue 12 months - bonds 17/10/2018 4.489.085 17/10/19 0.60% 5.639 4.494.724
Issue 18 months - bonds 01/12/2017 17.183.420 01/06/2019 0.75% 139.788 17.323.208
TOTAL INVESTMENTS 42.427.505 153.275 42.580.779

The interest accrued and not paid disclosed in the table of current financial investments amounting to 163,796 euros also includes the interest accrued on the 5-year bonds issued on 29 May 2017 of 10,522 euros, which is classified under current receivables as it falls due in May and December 2019.

Loans to related parties
The amount recorded under this heading includes the third instalment, payable on 1 March 2019, under the long-term loan to the investee ANSEAC, SA. and the interest earned thereon.
It also includes a short-term loan granted in October 2018 to the investee AVATEL & WIKIKER TELECOM S.L. of 500,000 euros, maturing in December 2018 and bearing interest at a fixed rate of 4.85%, to finance a number of projects. The interest accrued at the end of the reporting period and the loan commissions are also recorded under this heading. The loan was repaid in full in February 2019.