Financial statements

NOTE 10



CURRENT FINANCIAL INVESTMENTS

Details of this heading in the balance sheet at 31 December 2019 are as follows:

CURRENT FINANCIAL INVESTMENTS (euros) 01/01/2019 Additions Disposals Transfers 31/12/2019
SHORT-TERM FINANCIAL INVESTMENTS
Short-term deposits at financial institutions 77.182.035 118.522.697 (-)77.691.749 17.600.648 135.613.631
Short-term deposits at financial institutions 77.079.039 117.950.000 (-)77.079.039 17.600.000 135.550.000
Short-term deposits (interest accrued and not paid) 102.996 572.697 (-)612.709 648 63.631
Current public sector debt, Government of Andorra 42.591.301 4.908.842 (-)42.904.463 19.927.237 24.522.918
Public sector debt (acquisition cost) 42.427.505 4.547.535 (-)42.427.505 19.841.678 24.389.213
Public sector debt (interest accrued and not paid) 163.796 361.306 (-)476.958 85.560 133.705
Dividends receivable from related companies 0 6.690 (-)6.690 0 0
Loans to related parties 28.426 4.752 -28.426 23.789 28.541
Loans to other companies 510.176 0 -510.176 0 0
Current deposits and guarantees given 2.783 5.586 0 0 8.370
TOTAL CURRENT FINANCIAL INVESTMENTS 120.314.721 123.448.567 (-)121.141.502 37.551.675 160.173.460

Term deposits

Term deposits comprise several 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 31/12/2019
Issue 24 months - bonds 13/04/2018 2.659.594 13/04/2020 0,85% 38.946 2.698.540
Issue 12 months - bonds 17/10/2019 4.547.535 17/10/2020 0.45% 4.194 4.551.729
Issue 18 months - bonds 03/06/2019 17.182.084 01/12/2020 0.75% 74.665 17.256.749
TOTAL INVESTMENTS 24.389.213 117.805 24.507.018

The interest accrued and not paid disclosed in the table of current financial investments amounting to 133,705 euros also includes the interest accrued on the 5-year bonds issued on 29 May 2017 and the 3-year bonds issued on 19 December 2019 of 15,900 euros, which is classified under current receivables as it falls due in May and December 2020.


Loans to related parties

The amount recorded under this heading includes the fourth instalment, payable on 1 March 2020, 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.