VALDRES GOLFKLUBB

2910 AURDAL

Finances

Share Ownership

Return on Equity

33,06 %

Current Ratio

1,79

Debt-to-Equity Ratio

Key figures (NOK)	2009	2005	2004	2003
Revenue	3 009 000	2 782 000	2 787 000	1 891 000
Net Income	81 000	101 000	24 000	−325 000
Total Assets	506 000	370 000	233 000	102 000
Total Equity	245 000	−146 000	−247 000	−270 000

Income (NOK)	2009	2005	2004	2003
Revenue	3 009 000	2 782 000	2 787 000	1 891 000
Expenditure	2 957 000	2 681 000	2 763 000	2 216 000
Operating Profit	52 000	100 000	23 000	−326 000
Financial Income	28 000	1 000	0	2 000
Financial Costs	0	0	0	1 000
Financial Balance	28 000	1 000	0	1 000
Earnings Before Tax	81 000	101 000	24 000	−325 000
Tax	0	0	0	0
Net Income	81 000	101 000	24 000	−325 000

Balance (NOK)	2009	2005	2004	2003
Total Fixed Assets	38 000	7 000	0	0
Total Current Assets	468 000	363 000	233 000	102 000
Total Assets	506 000	370 000	233 000	102 000
Total Retained Equity	245 000	−146 000	−247 000	−270 000
Total Equity	245 000	−146 000	−247 000	−270 000
Total Long-Term Debt	0	0	0	0
Total Current Debt	261 000	516 000	480 000	372 000
Total Equity and Debt	506 000	370 000	233 000	102 000

Cash flow (NOK)	2009	2005	2004	2003
Sales Income	1 882 000	2 623 000	1 497 000	306 000
Other Income	1 126 000	159 000	1 290 000	1 584 000
Revenue	3 009 000	2 782 000	2 787 000	1 891 000
Cost of Goods Sold	344 000	207 000	194 000	204 000
Salary Costs	1 201 000	1 100 000	1 127 000	765 000
Depreciation	0	0	0	0
Impairment	0	0	0	0
Expenditure	2 957 000	2 681 000	2 763 000	2 216 000
Operating Profit	52 000	100 000	23 000	−326 000
Financial Income	28 000	1 000	0	2 000
Financial Costs	0	0	0	1 000
Financial Balance	28 000	1 000	0	1 000
Dividends	0	0	0	0
Net Income	81 000	101 000	24 000	−325 000

Balance details (NOK)	2009	2005	2004	2003
Goodwill	0	0	0	0
Total Intangible Assets	0	0	0	0
Real Eastate	0	0	0	0
Machinery and Plant Facilities	0	0	0	0
Fixtures	0	0	0	0
Total Tangible Assets	0	0	0	0
Total Fiancial Fixed Assets	38 000	7 000	0	0
Total Fixed Assets	38 000	7 000	0	0
Stock	45 000	33 000	45 000	21 000
Total Investments	0	0	0	0
Cash, Bank	330 000	0	0	0
Total Current Assets	468 000	363 000	233 000	102 000
Total Assets	506 000	370 000	233 000	102 000
Total Equity	245 000	−146 000	−247 000	−270 000
Short-Term Group Debt	0	0	0	0
Total Long-Term Debt	0	0	0	0
Creditors	6 000	5 000	16 000	9 000
Unpaid Taxes	112 000	83 000	124 000	43 000
Dividends	0	0	0	0
Other Current Debt	143 000	428 000	340 000	321 000
Total Current Debt	261 000	516 000	480 000	372 000
Total Equity and Debt	506 000	370 000	233 000	102 000

Financial indicators	2009	2005	2004	2003
Return on Equity	33,06 %	−69,18 %	−9,72 %	120,37 %
Debt-to-Equity Ratio	0	−0	−0	−0
Operating Profit Margin	1,73 %	3,59 %	0,83 %	−17,24 %
Current Ratio	1,79	0,7	0,49	0,27
Quick Ratio	2,17	0,75	0,54	0,29
Equity Ratio	0,48	−0,39	−1,06	−2,65
Gross Profit Margin	88,57 %	92,56 %	93,04 %	89,21 %