Lausanne Report of the auditor to the Congress and to the Executive Board on the financial statements 2011 27 April 2012/55017886/6/WRW/KFO/
Balance sheet at December 31 CHF CHF Notes 2011 2010 Assets Current assets Cash and cash equivalents 485'119 1'053'516 Marketable securities 1'586'529 3'255'357 Accounts receivable 2 260'781 136'361 Other receivables 68'129 0 Prepayments 197'480 33'798 Total current assets 2'598'038 4'479'033 Fixed assets Tangible fixed assets, net: Administrative building 1'615'473 1'615'473 Office furniture and equipment 1'303 4'131 Computer equipment 7'963 10'121 Event equipment 56'790 61'573 Total fixed assets 1'681'529 1'691'299 TOTAL ASSETS 4'279'568 6'170'332 Liabilities and funds Current liabilities Accounts payable 107'700 36'294 Accruals 26'014 33'264 Membership fees 2012 / 2011 51'890 56'989 Deferred income 156'196 247'800 Total current liabilities 341'800 374'347 Non-current liabilities Mortgage loan 1'157'000 1'183'000 Total non-current liabilities 1'157'000 1'183'000 Funds Unrestricted funds, as per statement attached 2'780'768 4'612'985 TOTAL LIABILITES AND FUNDS 4'279'568 6'170'332 2
[Falls [Angesichts Textbox Verbindlichkeiten [Im Nach Die Berichtsjahr Geschäftsjahr Erfolgsrechnung den keine Ansicht Informationen der des von 1996 vor aus Verwaltungsrates OR der Leasingverträgen sind ist wurden des 663b ausserordentlichen nach 100 Verwaltungsrates Optionen verlangten x dem Beteiligungen Umsatzkostenverfahren lässt ausgeübt beinhalten Angaben sich Generalversammlung wurden worden. der (Muster sämtliche zutreffen, Verstoss mehr Dafür AG, als noch sind hat aufgestellt. gegen 5% Frankreich) der 20 zu der vom Inhaberaktien leistenden Anhang das Stimmrechte 5. Dezember verkauft mit den Beträge folgendem Gestehungskosten gehalten Nennwert World und einschliesslich 19X6 x Satz Archery Beteiligungen von: beschlossenen Fr. zu 500 beginnen: Zinsen Federation zu Fr. verkauften neu und Liquidation 3,000 "Es erworbe Kosten beste ausge E Statement of income and expenditure for the year ended December 31 CHF CHF Notes 2011 2010 Income Operating Income: Various Income & Fees 3 222'346 179'591 222'346 179'591 Olympics Revenue 4 111'043 277'897 Commercial Revenue 5 1'780'302 1'380'221 Financial Income 6 87'625 188'651 Total Income 2'201'316 2'026'361 Expenses Administration Expenses: Salaries & Social Charges -1'125'625-1'115'270 Staff Expenses -24'215-31'756 Office Administration 7-196'866-212'454 Office Projects & Activities 8-21'521-27'986 Accounting & Legal fees 9-17'668-18'414 Depreciation 10-55'946-130'570-1'441'841-1'536'450 Operating Expenses: Communications/Marketing/Sponsorship 11-115'564-135'263 Consulting (Fees, Think-Tank/Event Bidding) -61'500-54'976 Audiovisual Production 12-76'601-70'288 Congress Expenses -155'811 0 Council & Executive Expenses 13-50'735-79'541 Committee Expenses 14-87'233-104'692 Continental Confederations 15-132'812-156'738 Development Programs 16-104'079-104'592 Global Sport Development -21'176 0 Olympic Solidarity 17-26'565-52'763 Olympic Games -20'337 0 Youth Olympic Games 0-100'746 Paralympic Games -43'988 0 World Championships Costs 18-240'221-134'375 Other Games, Bids & Future Events -30'621-50'209 World Cups 19-1'217'093-1'042'945 Extraordinary Expenses -10'334-8'635 Loss on Debtors -720-128 -2'395'390-2'095'891 Financial Expenses: Bank/Credit Card Charges -4'525-6'246 Mortgage Interest -35'295-36'075 Financial Expenses 20-30'150-28'285 Exchange Rate Differences -126'331-95'565-196'301-166'172 Total Expenses -4'033'532-3'798'513 excess of income (+) / expenses (-) over income for the year -1'832'216-1'772'152 Unrestricted funds at beginning of the year 4'612'985 6'385'137 Unrestricted funds at end of the year 2'780'768 4'612'985 3
1. Summary XXXX of significant accounting policies 1.1 Basis of accounting uses the accruals basis of accounting in preparing the financial statements. 1.2 Accounting for foreign currencies The accounting records of are kept in Swiss Francs. Assets and liabilities denominated in currencies other than Swiss Francs are based on exchange rates ruling at the year-end. Transactions denominated in other than Swiss Francs are recorded at monthly average rates or at the date of transaction; all exchange losses and realised exchange gains are recognised as financial income or expense. 1.3 Administrative building World Inventory Archery is expensed Federation as purchased, bought therefore its administrative no inventory building balance is in recorded 2006 for at a year-end gross amount for items of CHF 1.8mio. Depreciation was calculated at the rate of 3% per annum on the net book value until December 31, 2009. As from January 1, 2010 the accounting policy has been changed; depreciation is no longer calculated on the administrative building. An annual assessment is made as to whether the current estimated value of the administrative building is less than the net book value; should this estimated value be lower than the net book value, an impairment charge against the carrying value will be recorded. took out a mortgage of CHF 1.3mio to finance this purchase. 1.4 Marketable securities values its marketable securities at year-end market value. Gains or losses arising from the revaluation of marketable securities are taken to the statement of income and expenditure. A Sport Accord conference is organised once a year by ASOIF and two other sports partners (GAISF and 4
XXXX CHF CHF The ASOIF accounting Association uses the accruals records of Summer of basis ASOIF of Olympic accounting are kept International in preparing Swiss Francs Federations the financial and, accordingly, (ASOIF) December statements. is the a 31, not financial for December profit statements association 31, have 2011 2010 2. Accounts receivable Associate Members 36'936 27'494 (net of provision USD -; USD -) Members Associations 180'321 45'238 (net of provision USD 600: USD -) Other Debtors 43'552 37'916 (net of provision USD -; USD -) Other Debtors MasterCard -2'980-30 Bad Debts -1'057-496 Development Fund Partner 0 4'660 Olympic Solidarity 2'666 21'579 Short-term assets 1342 0 260'781 136'361 3. Various Income & Fees FITA Registered Tournaments 35'887 32'808 Tournaments Penalties 7'437 5'956 Capitation fee - Para Archery 589 0 Merchandising 17'056 13'925 Badges, Flags, Pin's & Others 0 86 Publications, Target, Arrow 322 709 Association Members Fees 57'097 58'144 Associate Members Fees 28'746 31'391 Rebilling Antidoping tests -36 79 Sundry, Income, Postage EUR 0 7 Development Partner fees 9'178 18'433 Global Sport Development 58'779 0 Office renting 5'463 8'350 Extraordinary income 1'829 9'702 222'346 179'591 4. Olympics revenue Various Incomes (ONOC, etc) 18'090 32'294 IOC Income 123'765 Olympic Solidarity 28'708 52'967 Grant IOC/Olympic Solidarity IF 64'246 64'392 Olympic Solidarity Course Revenue 0 4'480 111'043 277'897 5
XXXX CHF CHF December 31, December 31, 2011 2010 5. Commercial Revenue Licences - Royalties 30'378 29'504 Sponsors (incl. VIK) 1'300'719 1'218'634 Internet Revenue 2'981 2'365 TV Revenue 55'504 37'011 Bid Cities 390'720 92'707 1'780'302 1'380'221 6. Financial Income Interests on creditors 32'251 52'585 Profits on Investments 55'374 136'066 87'625 188'651 7. Office Administration Building Service costs -34'961-39'610 Office Supply, Maintenance & Cleaning -11'333-19'185 Phone & Fax -24'016-24'281 Electricity -4'892-5'904 Postage -6'781-5'554 Lease Payments -10'631-11'807 Computing Costs & Internet costs -72'161-72'245 Insurances -29'989-30'722 Meeting Expenses -1'054-1'138 Freight & Customs -1'047-2'010-196'866-212'454 8. Office Das Die die gesetzliche Aktienkapital Abschreibungen Wertschriften Forderungen Vorräte Beteiligungen Sachanlagen Immaterielle Projects Rückstellungen Transaktionen Muttergesellschaft sind Reserve & der werden Activities zu sind Anlagen aus auf Gesellschaft für in ist Fabrikgebäuden zu Lieferungen zum Fremdwährungen (Ertrags-) nur Anschaffungskosten FGH (genaue Niederstwertprinzip in dem Inc, setzt Steuern Bilanzbezeichnung) Umfang und USA, sich oder werden Maschinen Leistungen aus berücksichtigen eine für abzüglich tieferen bilanziert. xx bewertet. die Konzernjahresrechnung zum Inhaber-/Namenaktien Ausschüttung wurden Veräusserungswerten gegenüber Abschreibungen werden im Für Zeitpunkt alle bis dauernde gleichmässig zum Steueraufwendungen, durch Dritten 31. der bilanziert. Werteinbussen die Dezember zu erstellt Transaktion sind bilanziert, Aktionäre über je Fr zum und den Die xx Anti-Doping Management -21'521-27'986-21'521-27'986 9. Accounting & Legal Fees Accounting & Audit Fees -17'668-18'414 Legal Fees 0 0-17'668-18'414 6
XXXX CHF CHF December 31, December 31, 2011 2010 10. Depreciation Office Furniture & Equipment depreciation -2'828-23'434 Computer Equipment depreciation -8'584-19'286 Event Equipment depreciation -44'534-82'026 Vehicle depreciation 0-5'824-55'946-130'570 11. Communications/Marketing/Sponsorship Subscription to associations -5'958-5'704 Performance Awards & Medals -10'746 0 Publications, Target, Arrow, Advertising -58'981-50'659 Merchandising/Flags, Pin's, Ties & Others -14'620-11'240 Sponsorship costs -9'903-43'100 Public Relations -12'197-23'876 Graphic Design -3'160-684 -115'564-135'263 12. Audiovisual Production TV Production -11'638-24'802 Expenses Internet - Development -31'289-24'000 TV Consulting -33'674-21'486-76'601-70'288 13. Council & Executive Expenses Council -22'690-19'189 Executive -28'045-60'352-50'735-79'541 7
XXXX CHF CHF December 31, December 31, 2011 2010 14. Committee Expenses Committee Finance & Audit Committee -6'401-6'043 Const. & Rules Committee -8'522-238 Target Archery Committee -190-7'275 Field Committee 0-305 Judges Committee & Conference & Uniforms -9'094-40'516 Medical Committee -22'190-24'302 Coaches Committee -2'768-3'755 Athletes' Committee -5'806 0 ParaArchery -31'898-19'552-86'869-101'986 Ad Hoc Committees & Coordinators IMAP 0-2'706 Women in FITA -364 0-364 -2'706-87'233-104'692 15. Continental Confederations DP OAC incl. MA's fees -16'342-21'843 DP FAA incl. MA's fees -44'124-44'242 DP COPARCO incl. MA's fees -12'861-27'436 DP AAF incl. MA's fees -20'146-19'743 DP EMAU incl. MA's fees -39'339-43'474-132'812-156'738 8
XXXX CHF CHF December 31, December 31, 2011 2010 16. Development Programs Equipment -10'626-11'641 Development Middle East Center -73'402-82'115 Development Programs -20'051-10'835-104'079-104'592 17. Olympic Solidarity Olympic Solidarity -26'565-52'763-26'565-52'763 18. World Championships Costs WAYC - Legnica 2011, POL -78'841 0 WAC - Turin 2011, ITA -142'979 0 WA3DC - Donnersbach-Planneralm 2011, AUT -7'268 0 WAFC - Visegrad 2010, HUN 0-100'732 Organisers Seminar & Workshop -11'133-33'643-240'221-134'375 19. World Cups World Cup Travel & Accommodation -167'174-182'665 World Cup Marketing & Media -27'234-13'917 World Cup Anti-Doping -4'778-2'802 World Cup Various -83'538-87'667 World Cup Prize Money -226'508-221'223 World Cup Results/Timing -53'689-48'530 World Cup TD & Judges Costs -23'190-23'203 World Cup TV Production -495'215-330'492 World Cup Transportation & Logistics -135'768-127'011 World Cup repayment Penalty Fees 0-5'434-1'217'093-1'042'945 20. Financial Expenses Interest and Charges -30'150-28'285-30'150-28'285 9