JSC "Latvijas balzams"  is publishing Annual report of 2014 and Corporate governance report of 2014.

Buildings are recognised at their fair value on the basis of assessment made by independent valuator from time to time less accumulated depreciation. Accumulated depreciation is liquidated as of revaluation date, net sum is charged to the revaluated cost. Land is recognised at their fair value on the basis of assessment made by independent valuator from time to time. Other assets are recognised at their acquisition value less accumulated depreciation. Acquisition value includes the costs directly related to acquisition of the asset.

Subsequent costs are recognised in the asset’s carrying amount or as a separate asset only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. Other repairs and maintenance are recognised as an expense during the financial period when they are incurred.

In the result of accounting policy change the Company increased the profit by 724 thousands euro in 2014, and by 190 thousands euro in 2013.

Chairman of the Board

Guntis Āboltiņš – Āboliņš

Riga, 24 April, 2015