Financial Statement 2017 2 Profit and Loss Statement
FOR THE LOVE OF MUSIC FINANCIAL NOAH KIN COMPOSER, LYRICIST TEOSTO MEMBER SINCE 2011 STATEMENT TABLE OF CONTENTS PROFIT AND LOSS STATEMENT 3 BALANCE 4 NOTES TO THE FINANCIAL STATEMENTS 1 Accounting principles 7 2 Income statement by activity 9 3 Notes to the balance sheet, assets 11 4 Notes to the balance sheet, liabilities 13 5 Securities and contingent liabilities 14 6 Notes on personnel 14 7 Ownership in other companies 14 PROPOSAL FOR DISTRIBUTION TO RIGHTHOLDERS 15 SIGNATURES TO THE ANNUAL REPORT AND FINANCIAL STATEMENTS 15 TEOSTO FINANCIAL STATEMENT 2017 2 PROFIT AND LOSS STATEMENT 1 Jan–31 Dec 2017 1 Jan–31 Dec 2016 DAY-TO-DAY OPERATIONS Income Royalties collected by Teosto 59,778,097.64 60,701,285.83 Other copyright royalties 5,363,457.82 7,889,813.38 Remuneration for public lending 757,714.11 568,687.36 Compensation for private copying 1,760,303.85 1,429,202.02 Other income 2,140.26 32,250.80 67,661,713.68 70,621,239.39 Costs Personnel expenses -6,116,589.51 -6,234,667.77 Depreciation -853,142.54 -800,835.45 Other costs -5,754,320.17 -6,902,444.27 -12,724,052.22 -13,937,947.49 54,937,661.46 56,683,291.90 FUNDRAISING Membership fees 112,400.00 115,702.42 55,050,061.46 56,798,994.32 INVESTMENTS AND FINANCING Income 3,125,849.00 1,707,884.29 Costs -378,595.72 -446,138.57 2,747,253.28 1,261,745.72 57,797,314.74 58,060,740.04 Transfer for distribution to rightholders -54,990,364.18 -57,032,374.47 Changes to the self-financed reserve -2,806,950.56 -1,028,365.57 SURPLUS/DEFICIT FOR THE FINANCIAL YEAR 0.00 0.00 TEOSTO FINANCIAL STATEMENT
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