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Balance Sheet 2012-2011

Balance sheet as at 31 December 2012

    2012 2011
ASSETS    
I Current Assets
Accounts receivable                   338,620.51                  102,891.00
Short term investments                   201,240.00                  200,680.00
Cash in bank and deposit                1,082,117.39


2,150,999.00

Prepaid expenses                      16,665.53                    10,265.00
Total current assets                1,638,643.43
2,464,835.00
II Fixed Assets 
Leasehold                      55,947.95                                    -  
Furniture, ICT equipment and software                      30,900.24                                    -  
Guarantees (rent and social security)                      11,733.04                    11,154.00

Total fixed assets
                     98,581.23                    11,154.00
TOTAL ASSETS                1,737,224.66  
2
,475,989.00
LIABILITIES    

I Current liabilities
Accounts payable                   132,506.82                    77,818.00
Deferred income                1,054,324.52                  712,528.72
Income to be allocated to projects' partners                   155,542.80 1,281,715.28


Total current liabilities
               1,342,374.14
2,072,062.00

II Reserves
Funds brought forward                   403,927.04                  338,237.00
Surplus or deficit for the year                      -9,076.52                    65,690.00

Total reserves
                  394,850.52                  403,927.00
TOTAL LIABILITIES                1,737,224.66
2,475,989.00