Financial statements

NOTE 14



CURRENT PAYABLES

Details of this liability heading in the balance sheet are as follows:

BREAKDOWN OF PAYABLES (Euros) NOTES 31/12/18 31/12/17
CURRENT PAYABLES 2.511.276 5.459.563
Other current payables 1.125.736 620.945
Deposits received from suppliers 159.327 187.624
Deposits received from customers 460.788 433.321
Current provisions 505.622
Social Security payable 552.399 539.660
Social security contributions pending payment 552.399 539.660
Tax payable (Note 16) 833.142 4.298.958
Personal income tax withholdings pending payment 31.883 27.480
Non-resident income tax pending payment 140.558 179.298
Corporate income tax pending payment 0 3.073.124
Monthly VAT settlement 352.539 283.708
Tax and other payables (payments in kind) 308.162 735.349
TRADE AND OTHER PAYABLES 35.988.839 51.650.216
Trade payables 9.552.499 8.229.809
Operators 24.296.999 39.976.929
Sundry payables 119.013 1.459.130
Customer advances 143.698 155.527
Salary payments pending 1.876.630 1.828.821
TOTAL PAYABLE 38.500.116 57.109.779

The amount recorded under other current payables this year includes provisions for costs and commitments pending settlement linked to the cancellation of The Cloud project, corresponding to planned works to provisionally refurbish the site to make it accessible to the public, and expenses related to fulfilling commitments to suppliers.

Tax payables include an item recorded under Tax and other payables (payments in kind) corresponding to an adjustment for payments in kind that were not correctly declared between 2013 and 2017. At 31 December 2017, the Company allocated a provision of 735,349 euros in respect of this adjustment. The part of this liability corresponding to the Andorran Social Security Authority was settled in the second and third quarters of 2018. The part due to the Tax Authority, amounting to 427,187 euros, remains outstanding.

The items recorded under trade and other payables include the following:

  • Operators:
    The items recorded under this heading including trade payables to telecommunications operators, including annual discounts for Roaming In payable to mobile phone operators.
  • Salary payments pending:
    The breakdown of this heading is as follows:
(Amounts in euros) 31/12/18 31/12/17
Forecast performance bonus and accrued holiday pay 803.491 736.739
Mutual fund 795.847 729.620
Current provision for personnel expenses 277.293 362.463
Total 1.876.630 1.828.821