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  • Consolidation Model - Exercise 1

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    subhash dalvi
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    The document provides consolidated financial statements for Magnimetrics and its two wholly owned subsidiaries, FunMetrics and MetricMaker, for the financial year 2020. It includes an income statement, balance sheet, and adjustments to eliminate intercompany balances and transactions. The consolidated group recognized total revenues of EUR 7.84 million, EBIT of EUR 605 thousand, and net income of EUR 355 thousand for the period. On the balance sheet, total assets were EUR 6.42 million and total equity was EUR 3.91 million as of the end of the financial year.

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    The document provides consolidated financial statements for Magnimetrics and its two wholly owned subsidiaries, FunMetrics and MetricMaker, for the financial year 2020. It includes an income statement, balance sheet, and adjustments to eliminate intercompany balances and transactions. The consolidated group recognized total revenues of EUR 7.84 million, EBIT of EUR 605 thousand, and net income of EUR 355 thousand for the period. On the balance sheet, total assets were EUR 6.42 million and total equity was EUR 3.91 million as of the end of the financial year.

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    5 views7 pages

    Consolidation Model - Exercise 1

    Uploaded by

    subhash dalvi
    The document provides consolidated financial statements for Magnimetrics and its two wholly owned subsidiaries, FunMetrics and MetricMaker, for the financial year 2020. It includes an income statement, balance sheet, and adjustments to eliminate intercompany balances and transactions. The consolidated group recognized total revenues of EUR 7.84 million, EBIT of EUR 605 thousand, and net income of EUR 355 thousand for the period. On the balance sheet, total assets were EUR 6.42 million and total equity was EUR 3.91 million as of the end of the financial year.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    of 7

    Consolidated Financial Statements

    Magnimetrics

    in EUR'000
    Subsidiary Subsidiary
    Parent entity (100%) (100%)

    Line Item Magnimetrics FunMetrics MetricMaker

    1 Income Statement
    Sales 5,585 1,250 895
    Cost of Sales (4,678) - (624)
    Gross profit 907 1,250 271

    Administrative expenses (359) (986) (193)


    Other income 85 12 16
    EBITDA 633 276 94

    Depreciation and amortization (106) (6) (57)


    EBIT 527 270 37
    Finance costs (35) (8) (12)
    Profit / (loss) before income tax 492 262 25

    Income tax (expense) (172) (92) (9)


    Profit / (loss) for the period 320 170 16

    2 Balance Sheet
    ASSETS
    Non-current assets
    Property, plant and equipment 1,250 56 429
    Investments 90 - -
    Intangible assets 775 14 26
    2,115 70 455
    Current assets
    Inventory 1,458 - 180
    Trade and other receivables 735 313 -
    Intercompany receivables 276 - 461
    Cash and cash equivalents 486 127 45
    2,955 440 686
    Total assets 5,070 510 1,141

    EQUITY
    Shareholder's equity
    Share capital 50 25 25
    Retained earnings 2,695 210 859
    Total shareholders' equity 2,745 235 884
    Non-controlling Interest - - -
    Total equity 2,745 235 884

    LIABILITIES
    Non – current liabilities
    Bank debt 798 - -
    798 - -
    Current Liabilities
    Bank debt 168 - -
    Trade and other payables 898 25 257
    Intercompany payables 461 250 -
    1,527 275 257
    Total liabilities 2,325 275 257
    Total liabilities and shareholders’ equity 5,070 510 1,141
    Check - - -
    Subsidiary
    (80%) Adjustments
    I/C Balance w/ I/C Balance w/ I/C Transactions w/ Investment Non-Controlling
    Data Science 345 MetricMaker FunMetrics MetricMaker Elimination Interest

    1,006 (895)
    (859) 895
    147 - - - - -

    (359)
    7
    (205) - - - - -

    (24)
    (229) - - - - -
    (4)
    (233) - - - - -

    82
    (151) - - - - -

    146
    - (90)
    38
    184 - - - (90) -

    98
    134
    - (461) (250)
    86
    318 (461) (250) - - -
    502 (461) (250) - (90) -

    50 (90) (10)
    84 (7)
    134 - - - (90) (17)
    - 17
    134 - - - (90) -

    -
    - - - - - -

    -
    368
    - (461) (250)
    368 (461) (250) - - -
    368 (461) (250) - - -
    502 (461) (250) - (90) -
    - - - - - -
    Financial Year 2020

    Consolidated

    7,841
    (5,266)
    2,575

    (1,897)
    120
    798

    (193)
    605
    (59)
    546

    (191)
    355

    1,881
    -
    853
    2,734

    1,736
    1,182
    26
    744
    3,688
    6,422

    50
    3,841
    3,891
    17
    3,908

    798
    798

    168
    1,548
    -
    1,716
    2,514
    6,422
    -
    Non-Controlling Interest
    Data Science 345

    in EUR'000

    NCI Share Capital 20% 10

    NCI at acquisition date 106


    NCI share of post-acquisition earnings (59)
    NCI Balance 31.12.2019 47

    NCI share of 2019 earnings 20% (30)


    NCI Balance 31.12.2020 17

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