1
JOINT STOCK COMPANY IN LIQUIDATION
‘’KURZEMES ATSLEGA 1’’
LV40003044007
FINANCIAL REPORT FOR FIRST 3 MONTHS
OF THE YEAR 2022
(NON-AUDITED)
Aizpute
2022
2
TABLE OF CONTENTS
Information on the Company
3
Statement of Liquidator Responsibility
4
Financial statements:
Profit and loss account
5
Balance sheet
6-7
Statement of changes in equity
8
Cash flow statement
9
3
Information on the Company
Name of the Company
Likvidējamā AS’’KURZEMES ATSLĒGA 1’’
Legal status of the Company
Joint stock Company
Number, place and date of registration 40003044007
Riga, 29 November 1991
Reregistered in Commercial Register with common
registration No 40003044007 on 11 June 2004
Address Kalvenes iela 27,
Aizpute, Aizputes novads, LV-3456
Latvija
Names of major shareholders AS ''Kurzemes atslēga'' (48.36%)
Wiederhold Oliver Kai (17.22%)
SIA ''Aizputes atslēgas'' (15.26%)
Others (19.16%)
Liquidator
Pēteris Frīdmanis (from 30.12.2020)
Reporting period
Previous reporting period
01.01.2022-31.03.2022
01.01.2021-31.03.2021
Name and address of the certified audit company and
certified auditor in charge
Revidentu birojs Gatis Sviklis Lāsma Svikle SIA
Certified audit company
Licence No. 181
Kr. Valdemāra iela 123-15
Rīga, LV-1013
Latvija
Certified auditor in charge:
Gatis Sviklis
Certificate No. 202
4
Statement of Liquidator Responsibility
The liquidator of Likvidējamā AS „KURZEMES ATSLĒGA 1” is responsible for the preparation of the financial
statements of the Company.
On the basis of information available to the liquidator of Likvidējamā AS „KURZEMES ATSLĒGA 1”, the financial
statements are prepared in accordance with the applicable legal framework of the Republic of Latvia and give a true
and fair view of the assets, liabilities, financial position, financial result and cash flows of Likvidējamā AS
“KURZEMES ATSLĒGA 1”. The Report of the Liquidator gives a true information on the Company’s development
and operating results.
The control procedures on internal risks, risk management and risk control have been managed acording to the
internal conrol procedure instructions.
The liquidator of Likvidējamā AS “KURZEMES ATSLĒGA 1” is responsible for obeying the laws of the Republic of
Latvia.
Pēteris Frīdenbergs
Liquidator
31 May 2022
5
Profit and loss account
31.03.2022
31.03.2021
EUR
EUR
Net sales
6511
329128
Cost of sales
(38356)
(445934)
Gross (loss) / profit
(31845)
(116806)
Selling expenses
(3)
(10264)
Administrative expenses
(5789)
(13440)
Other operating income
11074
25692
Other operating expenses
(8617)
(14323)
Interest expenses and similar expenses
(2647)
(2950)
Loss before corporate income tax
(37827)
(132091)
Corporate income tax for the reporting year
-
-
Current year's loss
(37827)
(132091
Loss per share (0.04) (0.14)
6
Balance sheet as at 31 March 2022
31.03.2022
31.03.2021
EUR
EUR
Assets
Long-term investments
Intangible assets:
Concessions, patents, licenses, trademarks and similar rights
-
409
Total intangible assets:
-
409
Fixed assets:
Real estate:
a)
Land, buildings and engineering structures
-
461757
Equipment and machinery
-
30676
Other fixed assets
-
4925
Fixed assets under construction
-
5822
Total fixed assets:
-
503180
Total long-term investments:
-
503589
Current assets
Real estate:
Land, buildings and engineering structures
283339
-
Equipment and machinery
4779
-
Other fixed assets
3555
-
Total fixed assets:
291673
-
Inventories:
Raw materials and consumables
8149
261091
Work-in-progress
-
42077
Finished goods and goods for sale
-
-
Advances for goods receivable
33
25220
Total inventories:
8182
328388
Debtors:
Trade debtors
24893
144390
Other debtors
10679
22993
Total debtors:
35572
167383
Cash and bank:
10746
30759
Total current assets:
346173
526530
Total assets
346173
1030119
7
Balance sheet as at 31 March 2022 (2)
31.03.2022.
31.03.2021
EUR
EUR
Liabilities and liquidation capital
Liquidation capital:
Liquidation capital
692532
1114420
Reserves:
other reserves
Previous years’ retained earnings
(576916)
(421888)
Current year's loss
(37827)
(132091)
Total shareholders' funds:
77789
560441
Short-term creditors:
Loans from other
178925
192678
Advances from customers
10000
36598
Trade creditors
24602
86525
Accounts payable to affiliated companies
5885
36499
Taxes and the state compulsory social insurance
contributions
18646
40589
Other creditors
5391
25393
Accrued liabilities
24935
51396
Total short-term creditors:
268384
469678
Total creditors:
268384
469678
Total liabilities and shareholders’ funds
346173
1030119
8
Statement of changes in Liquidaton capital .
Liquidation
capital
Reserves
Retained
earnings
Total
EUR
EUR
EUR
EUR
Balance as at 31 December
2020
1 114 420
(421 888)
692 532
Transfer of retained loss into
liquidation capital
(421 888)
175 276
-
421 888
(175 276)
-
-
liquidation capital
Loss for the year
-
-
(576 916)
(576 916)
Balance as at 31 December 2021
692 532
(576 916)
115 616
Transfer of retained loss into
liquidation capital
(576 916)
576 916
-
Loss for the year
-
-
(37 827)
(37 827)
Balance as at 31 March 2022
115 616
(37 827)
77 789
9
Cash flow statement
31.03.2022
31.03.2021
EUR
EUR
Cash flows from operating activities
Profit or loss before taxation
(37827)
(132091)
Adjustments for:
a)
Fixed asset depreciation
2317
6858
b)
Amortization of intangible assets
-
40
c)
Foreign exchange loss
-
(1314)
d)
Interest expense
2647
2950
(32863)
(123557)
Adjustments for:
a)
Debtors decrease
19424
(65832)
b)
Inventories decrease / (increase)
5483
50115
c)
Trade and other creditors’ (decrease) / increase
15531
69580
Cash (used in) / generated from operations
7575
(69694)
Interest paid
(2647)
(2950)
Corporate income tax paid
-
0
Net cash (used in) / generated from operations
4928
(72644)
Cash flows from investing activities
Acquisition of intangible assets
-
-
Net cash used in investing activities
-
-
Cash flows from financing activities
Borrowings received
-
-
Net cash generated from / (used in) financing
activities
- -
Result of foreign exchange rate fluctuations
-
1314
Net increase (decrease) in cash and cash equivalents
4928
(71330)
Cash and cash equivalents at the beginning of the
reporting year
5818 102089
Cash and cash equivalentrs at the end of the
reporting year
10746 30759
10