Page 71 - Operation Lifesaver Estonia / Annual Report 2012

69
Operation Lifesaver Estonia Annual Report 2012
General information
The annual accounts for 2012 have been prepared
in accordance with the Estonian Good Accounting
Practices, using the historical cost principle. The
main requirements of the good accounting practices
are set forth in the Accounting Act endorsed 20
November 2002 and respective regulations of the
Estonian Government and Minister of Finance that
are supplemented by the accounting manuals issued
by the Estonian Accounting Standards Board.
In course of preparing the annual accounts, the non-
profit organisation is treated as an organisation
pursuing its activities and the accounting has used
continuously same accounting methods, evaluation
criteria, reporting methods and reporting schemes.
The annual accounts are prepared on the basis of
the manuals of the Estonian Accounting Standards
Board RTJ-14 (“Non-profit organisations and
foundations”) and RTJ-12 (“Government aid”).
Income from members is recorded in the period for
which they were paid.
Targeted financing is recorded as revenue in
periods when occur the costs for which the targeted
financing is earmarked.
The non-current assets acquired for targeted
financing are recorded using the gross method
described in RTJ-12 and -17. Non-current assets
are recorded at acquisition value, depreciation is
recorded linearly with the depreciation rate of 20%
per annum. The principle that the costs of the NPO
must be related to its statutory purposes has been
strictly followed. The profit and revenues are not
distributed between the members of the NPO.
The annual accounts are prepared in Euros.
Annual Financial Statements
31.12.2012 31.12.2011
Tax liabilities Tax liabilities
Personal income tax 1 094 962
Social tax 1 897 1 684
Contributions to mandatory funded pension 114 92
Unemployment insurance tax 205 213
Total tax prepayments and liabilities 3 310 2 951
Tax prepayments and liabilities
(In Euros)
Accounting principies