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Balance Sheet 2011-2010

Balance sheet as of December 31st 2011
2011 2010
ASSETS    
I Fixed Assets 
Computer's equipment  € 0.00 € 0.00
Guarantee to Axa and Securex € 11,154.00 € 11,014.00
II Current Assets
Accounts receivable € 102,891.00 € 36,690.00
Cash in bank and deposit * € 2,351,679.00 € 405,223.00
Accruals € 10,265.00 € 10,198.00
TOTAL ASSETS € 2,475,989.00 € 463,125.00
LIABILITIES    
I Capital and reserves
Funds brought forward € 338,237.00 € 353,037.00
Surplus or deficit for the year € 65,690.00 -€ 14,800.00
II Debts
Payment received in advance € 0.00 € 32,457.00
Accounts payable € 77,818.00 € 42,431.00
Income to be carried over * € 712,528.72 € 50,000.00
Income to be allocated to project partners * € 1,281,715.28 € 0.00
TOTAL LIABILITIES € 2,475,989.00 € 463,125.00
* Includes the 2012 EUPATI pre-financing received on 27 Dec 2011 (€ 1,680,000)