GuillermoRosés SRLU

The purpose of the annual accounts is to show a true and fair view of the assets, results and financial position of the company at the end of its financial year. The accounts consist of the following elements:

1. The balance sheet

2. The profit and loss account

3. The statement of changes in net assets during the financial year

4. The funds flow statement

5. The annual report

The company’s directors are responsible for preparing the following documents within a maximum of three months from the end of the financial year (article 171 of the Consolidated Text of the Public Limited Companies Act):

a)  the annual accounts

b) the directors’ report

c) the proposal for application of the profits

d) and, if appropriate, the consolidated accounts and directors’ report

The annual accounts and directors’ report must be signed by all the directors. If any signature is missing this fact must be noted on each of the documents on which the signature is missing and the reason why the signature is missing must be expressly stated.

The structure and contents of the documents comprising the annual accounts must accord with the model form documents approved by the relevant Regulations.

Short-form Balance Sheet and Statement of Changes in Net Assets.

1. Short-form balance sheets and statements of changes in net assets may be filed by companies which satisfy at least two of the following circumstances over two consecutive financial years and do so at the end of each of those financial years:

a) The total of asset entries does not exceed 2,850,000 euros.

b) The net turnover of the business does not exceed 5,700,000 euros.

c) The average number of employees employed during the financial year does not exceed 50.

Companies will lose this power if they cease to satisfy two of the circumstances referred to in the previous paragraph for two consecutive financial years.

2. In the first financial year following incorporation, change of legal status or merger, companies may file short-form balance sheets and statements of changes in net assets if at the end of that financial year they satisfy at least two of the three circumstances set out in the previous paragraph.

3. Companies whose shares are listed on a regulated market in any member state of the European Union may not make use of the power to file short-form balance sheets and statements of changes in net assets.

4. Where it is permitted to file short-form balance sheets and statements of changes in net assets, the funds flow statement will not be compulsory.

Short-Form Profit and Loss Accounts.

1. Short-form profit and loss accounts may be filed by companies which satisfy at least two of the following circumstances over two consecutive financial years and do so at the end of each of those financial years:

a) The total of asset entries does not exceed 11,400,000 euros.

b) The net turnover of the business does not exceed 22,800,000 euros.

c) The average number of employees employed during the financial year does not exceed 250.

Companies will lose the power to file short-form profit and loss accounts if they cease to satisfy two of the circumstances referred to in the previous paragraph for two consecutive financial years.

2. In the first financial year following incorporation, change of legal status or merger, companies may file short-form profit and loss accounts if at the end of that financial year they satisfy at least two of the three circumstances set out in the previous paragraph.

3. Companies whose shares are listed on a regulated market in any member state of the European Union may not make use of the power to file short-form profit and loss accounts.