0 and signing on fees 15,384 10,727 4,538 12,050 Other debtors 8,153 9.520 9,172 1,702 Provision doubtful debts (1,477) (1,296) (111) (125) 22,060 18,951 13,599 13,627 3. Financial fixed assets The certificates from Station Amsterdam N.V. (the ArenA) relate to a participation of 20,000 'F' share certificates, with a nominal value of NLG 1,000 each, in the share capital of the Amsterdam ArenA. This participation of approximately 13% has been valued at historical cost. NLG 30,000 has been contributed to the 'Stichting Verzelfstandiging Eredivisie'. This contribution concerns a loan, part of which will be transferred to the participation ENV when it is incorporated. 4. Stock December 31, 1997 June 30, 1997 June 30, 1996 June 30, 1995 NLG '000 NLG '000 NLG '000 NLG '000 Finished goods 194 These stocks relate to the merchandising activities. 5. Receivables December 31, 1997 June 30, 1997 June 30, 1996 June 30, 1995 NLG '000 NLG '000 NLG '000 NLG '000 Debtors relating to transfer As at December 31, 1997 debtors include an amount of NLG 5,340,000 which was due after more than one year (as at June 30, 1997, NLG 4,474,000). 6. Deferred tax assets and liabilities When the Association started being liable for taxes as of July 1, 1994, the fiscal valuation of fixed assets exceeded the respective commercial valuations. This higher valuation relates to transfer and signing on fees of NLG 31.8 million and NLG 13.7 million to tangible fixed assets. The related deferred tax assets amounted to NLG 15.9 million (35% of NLG 45.5 million) and is included in equity as at July 1, 1994. As from July 1, 1994, deferred taxation has also been influenced by the payment of transfer and signing on fees for non-EU players, which cannot be depreciated fiscally, as well as by the use of fiscal 'replacement provisions' based on the so called exchange court rulings. In the pro forma consolidated profit and loss accounts, a tax burden of approximately 35% has been reported, which results in a tax charge of NLG 34.6 million for the period from July 1, 1994 to December 31, 1997. As at December 31, 1997, a current tax liability of approximately NLG 12 million was recognised in the pro forma consolidated balance sheet. The difference between both of the amounts mentioned is, for the most part, a result of the revenue as at June 1, 1994 of NLG 15.9 million and the delay of tax payments entailed in using the 'replacement provision'.


Jaarverslagen Ajax NV (vanaf 1997) | 1998 | | pagina 66