Annual Report • May 2, 2018
Annual Report
Open in ViewerOpens in native device viewer
REPORT AND CONSOLIDATED FINANCIAL STATEMENTS 31 December 2017
| Board of Directors and other officers | 1 |
|---|---|
| Management Report | $2 - 3$ |
| Independent auditor's report | $4 - 6$ |
| Consolidated statement of profit or loss and other comprehensive income | |
| Consolidated statement of financial position | 8 |
| Consolidated statement of changes in equity | 9 |
| Consolidated cash flow statement | 10 |
| Notes to the consolidated financial statements | $11 - 25$ |
PAGE
Board of Directors:
Alexandros Sinos Serafeim Charalampidis Stephanos Kazantzis Panagiotis Brouskaris Evangelos Drympetas Gloria Chrysafi
Company Secretary:
Independent Auditors:
Gloria Chrysafi
C&N AUDITORS LTD Certified Public Accountants 10 Yianni Kranidioti 1065 Nicosia
Registered office:
Laiou 6 Anna City Court Block B, Flat 301 3015, Limassol, Cyprus
Registration number:
HE 304867
The Board of Directors presents its first report and audited consolidated financial statements of the Company and its subsidiaries (together with the Company, the "Group") for the year ended 31 December 2017.
The Company AEONIC SECURITIES C.I.F. PLC was incorporated in Cyprus on 19th of April 2012 as a private limited liability company under the provisions of the Cyprus Companies Law, Cap. 113.
The Company AEONIC INVESTMENTS LTD was incorporated in Cyprus on 12th of December 2014 as a private limited liability company under the provisions of the Cyprus Companies Law, Cap. 113.
The Company is a Cyprus Investment Firm ("C.I.F") and in accordance with the license no.177/12 granted by the Cyprus Securities and Exchange Commission ("CySEC") on 4 September 2012.
The principal activities of the company comprise the provision of investment services, including reception and transmission of orders in relation to one or more financial instruments and execution of orders on behalf of clients in relation to one or more financial instruments.
In addition, the Company provides ancillary services, which comprise the safekeeping and administration of financial instruments, including custondianship and related services, advice to undertakings on capital structure, industrial strategy and related matters and advice and services related to mergers and the purchase of undertakings, foreign exchange services where these are connected to the provision of investment services, services related to underwriting, and investment services and activities as well as ancillary services where these are connected to the provision of investment or ancillary services.
During the year there were changes in the Group structure of the Company. On 1st of January 2017, the Company acquired 100% of the shares of Aeonic Investments Ltd.
The Group's development to date, financial results and position as presented in the consolidated financial statements are considered satisfactory.
The principal risks and uncertainties faced by the Group are disclosed in notes 3, 4 and 23 of the consolidated financial statements.
The financial statements have been prepared on a going concern basis since it is the intention of the Board of Directors to continue the operations of the Company.
Interest rate risk is the risk that the value of financial instruments will fluctuate due to changes in market interest rates. The Group's income and operating cash flows are substantially independent of changes in market interest rates as the Group has no significant interest-bearing assets. The Group is exposed to interest rate risk in relation to its non-current borrowings. Borrowings issued at variable rates expose the Group to cash flow interest rate risk. Borrowings issued at fixed rates expose the Group to fair value interest rate risk. The Company's management monitors the interest rate fluctuations on a continuous basis and acts accordingly.
Credit risk is the risk that a counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Group is exposed to credit risk from its operating activities - primarily trade receivables and from its financing activities, including deposits with banks, foreign exchange transactions and other financial instruments.
Credit risk related to trade receivables: This is managed based on established policies, procedures and controls relating to customer credit risk management. Credit limits are established for all customers based on internal ratings. Credit quality of the customer is assessed and outstanding customer receivables are regularly monitored. The Group does not hold collateral as security.
Liquidity risk is the risk that arises when the maturity of assets and liabilities does not match. An unmatched position potentially enhances profitability, but can also increase the risk of losses. The Group has procedures with the object of minimising such losses such as maintaining sufficient cash and other highly liquid current assets and by having available an adequate amount of committed credit facilities.
The Group's results for the year are set out on page 7. The Board of Directors, following consideration of the availability of profits for distribution as well as the liquidity position of the Group, does not recommend the payment of a dividend and the net profit for the year is retained.
Under its Memorandum the Company fixed its share capital at 1,000,000 ordinary shares of nominal value of $\epsilon$ 1 each.
Upon incorporation on 19th of April 2012 the Company issued to the subscribers of its Memorandum of Association - ordinary shares of €1 each at par.
The members of the Company's Board of Directors as at 31 December 2017 and at the date of this report are presented on page 1. All of them were members of the Board of Directors throughout the year ended 31 December 2017.
In accordance with the Company's Articles of Association all Directors presently members of the Board continue in office.
There were no material events after the reporting period, which have a bearing on the understanding of the consolidated financial statements.
The Independent Auditors, C&N AUDITORS LTD, have expressed their willingness to continue in office and a resolution giving authority to the Board of Directors to fix their remuneration will be proposed at the Annual General Meeting.
By order of the Board of Directors,
Secretary
Nicosia, 30 April 2018
Auditors, Accountants & Business Advisors
We have audited the consolidated financial statements of AEONIC SECURITIES C.I.F. PLC (the "Company") and its subsidiaries (the "Group"), which are presented in pages 7 to 25 and comprise the consolidated statement of financial position as at 31 December 2017, and the consolidated statements of profit or loss and other comprehensive income, changes in equity and cash flows for the year then ended, and notes to the consolidated financial statements, including a summary of significant accounting policies.
In our opinion, the accompanying consolidated financial statements give a true and fair view of the consolidated financial position of the Group as at 31 December 2017, and of its consolidated financial performance and its consolidated cash flows for the year then ended in accordance with International Financial Reporting Standards (IFRSs) as adopted by the European Union and the requirements of the Cyprus Companies Law, Cap. 113.
We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Consolidated Financial Statements section of our report. We are independent of the Company in accordance with the International Ethics Standards Board for Accountants' Code of Ethics for Professional Accountants (IESBA Code) together with the ethical requirements that are relevant to our audit of the financial statements in Cyprus, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
The Board of Directors is responsible for the other information. The other information comprises the information included in the management report, but does not include the consolidated financial statements and our auditor's report thereon.
Our opinion on the consolidated financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.
In connection with our audit of the consolidated financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the consolidated financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
The Board of Directors is responsible for the preparation of consolidated financial statements that give a true and fair view in accordance with International Financial Reporting Standards as adopted by the European Union and the requirements of the Cyprus Companies Law, Cap. 113, and for such internal control as the Board of Directors determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the consolidated financial statements, the Board of Directors is responsible for assessing the Group's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.
$\overline{4}$
Auditors, Accountants & Business Advisors
$\cdot \cdot \cdot$ $C \& I$
The Board of Directors is responsible for overseeing the Group's financial reporting process.
Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements.
As part of an audit in accordance with ISAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
We communicate with the Board of Directors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Pursuant to the additional requirements of the Auditors Law of 2017, we report the following:
5
NICOSIA HEAD OFFICE: Office 201, 10 Yianni Kranidioti Str., 1065 Nicosia, Cyprus t: +357 22460760, f: +357 22767067, P.O. Box 28949, 2084 Nicosia, Cyprus e: [email protected] w: www.cn-c.com
Accounting & Audit Services Consulting & Advisory Services Taxation & Vat Services Software Solutions Trust Services Financial Services Advisory International Corporate Services Wealth Management
Auditors, Accountants
& Business Advisors
This report, including the opinion, has been prepared for and only for the Company's members as a body in accordance with Section 69 of the Auditors Law of 2017 and for no other purpose. We do not, in giving this opinion, accept or assume responsibility for any other purpose or to any other person to whose knowledge this report may come to.
C&N AUDITIORS LTD
Certified Public Accountant and Registered Auditor for and on behalf of C&N AUDITORS LTD Certified Public Accountants
Nicosia, 30 April 2018
C&N Auditors Ltd NICOSIA HEAD OFFICE: Office 201, 10 Yianni Kranidioti Str., 1065 Nicosia, Cyprus 1: +357 22460760, f: +357 22767067, P.O. Box 28949, 2084 Nicosia, Cyprus e: [email protected] w: www.cn-c.com
Accounting & Audit Services
Consulting & Advisory Services
Taxation & Vat Services Software Solutions Trust Services Financial Services Advisory International Corporate Services Wealth Management
| 2017 | ||
|---|---|---|
| Note | € | |
| Revenue Cost of sales |
5 6 |
754.342 (377.970) |
| Gross profit | 376.372 | |
| Administration fees Transaction costs |
100 4.921 |
|
| Total operating expenses Other operating income Selling and distribution expenses Administration expenses Other expenses |
7 8 9 10 |
5.021 75.260 (15.367) (311.029) (13.378) |
| Operating profit | 106.837 | |
| Finance costs | 12 | (8.540) |
| Profit before tax | 98.297 | |
| Net profit for the year | 98.297 | |
| Other comprehensive income | ||
| Total comprehensive income for the year | 98.297 | |
| 2017 | ||
|---|---|---|
| ASSETS | Note | € |
| Non-current assets | ||
| Property, plant and equipment | 14 | 223.604 |
| Intangible assets | 15 | 4.304 |
| Investors Compensation Fund | 18 | 76.632 |
| 304.540 | ||
| Current assets | ||
| Trade and other receivables | 16 | 1.725.177 |
| Non-pledged financial assets at fair value through profit or loss | 17 | 22.566 |
| Cash at bank and in hand | 19 | 206.646 |
| 1.954.389 | ||
| Total assets | 2.258.929 | |
| EQUITY AND LIABILITIES | ||
| Equity | ||
| Share capital | 20 | 600.000 |
| Accumulated losses | (110.249) | |
| Total equity | 489.751 | |
| Non-current liabilities | ||
| Borrowings | 21 | 129.000 |
| 129.000 | ||
| Current liabilities | ||
| Trade and other payables | 22 | 1.640.178 |
| 1.640.178 | ||
| Total liabilities | 1.769.178 | |
| Total equity and liabilities | 2.258.929 |
On 30 April 2018 the Board of Directors of AEONIC SECURITIES C.I.F. PLC authorised these consolidated financial statements for issue.
$\sqrt{2}$
Alexandros Sinos Director
Sergfeim Charalampidis
Director
| Share capital |
Accumulated losses |
Total | |
|---|---|---|---|
| € | € | € | |
| Balance at 1 January 2017 | 600,000 | (208.546) | 391.454 |
| Comprehensive income Net profit for the year |
98.297 | 98.297 | |
| Balance at 31 December 2017 | 600,000 | (110.249) | 489,751 |
Companies which do not distribute 70% of their profits after tax, as defined by the relevant tax law, within two years after the end of the relevant tax year, will be deemed to have distributed as dividends 70% of these profits. Special contribution for defence at 17% will be payable on such deemed dividends to the extent that the ultimate shareholders are both Cyprus tax resident and Cyprus domiciled. The amount of deemed distribution is reduced by any actual dividends paid out of the profits of the relevant year at any time. This special contribution for defence is payable by the Company for the account of the shareholders.
| Note | 2017 € |
|
|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Profit before tax Adjustments for: |
98.297 | |
| Depreciation of property, plant and equipment Unrealised exchange (profit) |
14 | 19.721 (4.644) |
| Amortisation of computer software Excess of Group's interest in the net fair value of the subsidiaries' assets and liabilities over |
15 | 1.093 |
| cost on acquisition | (45.032) | |
| (Profit) from the sale of financial assets at fair value through profit or loss | (17.216) | |
| Fair value losses on financial assets at fair value through profit or loss | 10.914 | |
| Interest income | 7 | (185) |
| Interest expense | 12 | 93 |
| Changes in working capital: | 63.041 | |
| Increase in trade and other receivables | (283.155) | |
| Decrease in financial assets at fair value through profit or loss | 51.416 | |
| Increase in trade and other payables | 203.684 | |
| Cash generated from operations | 34.986 | |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Payment for purchase of intangible assets | 15 | (1.982) |
| Payment for purchase of property, plant and equipment | 14 | (195.832) |
| Payment for purchase of other assets Interest received |
18 | (3.576) 185 |
| Net cash used in investing activities | (201.205) | |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Repayments of borrowings Proceeds from borrowings |
(129.000) | |
| Unrealised exchange profit | 4.644 | |
| Interest paid | (93) | |
| Net cash (used in) financing activities | (124.449) | |
| Net (decrease) in cash and cash equivalents | (290.668) | |
| Cash and cash equivalents at beginning of the year | 497.314 | |
| Cash and cash equivalents at end of the year | 19 | 206,646 |
The Company AEONIC SECURITIES C.I.F. PLC (the "Company") was incorporated in Cyprus on 19th of April 2012 as a private limited liability company under the provisions of the Cyprus Companies Law, Cap. 113. Its registered office is at Laiou 6, Anna City Court Block B, Flat 301, 3015, Limassol,, Cyprus.
The Company is a Cyprus Investment Firm ("C.I.F") and in accordance with the license no.177/12 granted by the Cyprus Securities and Exchange Commission ("CySEC") on 4 September 2012.
The principal activities of the company comprise the provision of investment services, including reception and transmission of orders in relation to one or more financial instruments and execution of orders on behalf of clients in relation to one or more financial instruments.
In addition, the Company provides ancillary services, which comprise the safekeeping and administration of financial instruments, including custondianship and related services, advice to undertakings on capital structure, industrial strategy and related matters and advice and services related to mergers and the purchase of undertakings, foreign exchange services where these are connected to the provision of investment services, services related to underwriting, and investment services and activities as well as ancillary services where these are connected to the provision of investment or ancillary services.
The principal accounting policies adopted in the preparation of these consolidated financial statements are set out below
These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRSs) as adopted by the European Union (EU) and the requirements of the Cyprus Companies Law, Cap.113. These consolidated financial statements have been prepared under the historical cost convention as modified by the revaluation of, and financial assets and financial liabilities at fair value through profit or loss.
During the current year the Group adopted all the new and revised International Financial Reporting Standards (IFRS) that are relevant to its operations and are effective for accounting periods beginning on 1 January 2017.
At the date of approval of these consolidated financial statements, standards and interpretations were issued by the International Accounting Standards Board which were not yet effective. Some of them were adopted by the European Union and others not yet. The Board of Directors expects that the adoption of these accounting standards in future periods will not have a material effect on the consolidated financial statements of the Group.
The Company has subsidiary undertakings for which section 142(1)(b) of the Cyprus Companies Law Cap. 113 requires consolidated financial statements to be prepared and laid before the Company at the Annual General Meeting. The Group consolidated financial statements comprise the financial statements of the parent company AEONIC SECURITIES C.I.F. PLC and the financial statements of the following subsidiary Aeonic Investments Ltd.
The financial statements of all the Group companies are prepared using uniform accounting policies. All inter-company transactions and balances between Group companies have been eliminated during consolidation.
Acquisitions of businesses are accounted for using the acquisition method. The consideration transferred in a business combination is measured at fair value, which is calculated as the sum of the acquisition-date fair values of the assets transferred by the Group, liabilities incurred by the Group to the former owners of the acquiree and the equity interests issued by the Group in exchange for control of the acquiree. Acquisition-related costs are generally recognised in profit or loss as incurred.
At the acquisition date, the identifiable assets acquired and the liabilities assumed are recognised at their fair value at the acquisition date, except that:
Goodwill is measured as the excess of the sum of the consideration transferred, the amount of any non-controlling interests in the acquiree, and the fair value of the acquirer's previously held equity interest in the acquiree (if any) over the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed. If, after reassessment, the net of the acquisition-date amounts of the identifiable assets acquired and liabilities assumed exceeds the sum of the consideration transferred, the amount of any non-controlling interests in the acquiree and the fair value of the acquirer's previously held interest in the acquiree (if any), the excess is recognised immediately in profit or loss as a bargain purchase gain.
Non-controlling interests that are present ownership interests and entitle their holders to a proportionate share of the entity's net assets in the event of liquidation may be initially measured either at fair value or at the non-controlling interests' proportionate share of the recognised amounts of the acquiree's identifiable net assets. The choice of measurement basis is made on a transaction-by-transaction basis. Other types of non-controlling interests are measured at fair value or, when applicable, on the basis specified in another IFRS.
When the consideration transferred by the Group in a business combination includes assets or liabilities resulting from a contingent consideration arrangement, the contingent consideration is measured at its acquisition-date fair value and included as part of the consideration transferred in a business combination. Changes in the fair value of the contingent consideration that qualify as measurement period adjustments are adjusted retrospectively, with corresponding adjustments against goodwill. Measurement period adjustments are adjustments that arise from additional information obtained during the 'measurement period' (which cannot exceed one year from the acquisition date) about facts and circumstances that existed at the acquisition date.
The subsequent accounting for changes in the fair value of the contingent consideration that do not qualify as measurement period adjustments depends on how the contingent consideration is classified. Contingent consideration that is classified as equity is not remeasured at subsequent reporting dates and its subsequent settlement is accounted for within equity. Contingent consideration that is classified as an asset or a liability is remeasured at subsequent reporting dates in accordance with IAS 39, or IAS 37 Provisions, Contingent Liabilities and Contingent Assets, as appropriate, with the corresponding gain or loss being recognised in profit or loss.
When a business combination is achieved in stages, the Group's previously held equity interest in the acquiree is remeasured to fair value at the acquisition date (i.e. the date when the Group obtains control) and the resulting gain or loss, if any, is recognised in profit or loss. Amounts arising from interests in the acquiree prior to the acquisition date that have previously been recognised in other comprehensive income are reclassified to profit or loss where such treatment would be appropriate if that interest were disposed of.
If the initial accounting for a business combination is incomplete by the end of the reporting period in which the combination occurs, the Group reports provisional amounts for the items for which the accounting is incomplete. Those provisional amounts are adjusted during the measurement period (see above), or additional assets or liabilities are recognised, to reflect new information obtained about facts and circumstances that existed at the acquisition date that, if known, would have affected the amounts recognised at that date.
Revenue comprises the invoiced amount for the sale of products net of Value Added Tax, rebates and discounts. Revenues earned by the Group are recognised on the following bases:
Sales of products are recognised when significant risks and rewards of ownership of the products have been transferred to the customer, which is usually when the Group has sold or delivered the products to the customer, the customer has accepted the products and collectability of the related receivable is reasonably assured.
Sales of services are recognised in the accounting period in which the services are rendered by reference to completion of the specific transaction assessed on the basis of the actual service provided as a proportion of the total services to be provided.
Dividend from investments in securities is recognised when the right to receive payment is established. Withheld taxes are transferred to profit or loss. Interest from investments in securities is recognised on an accruals basis.
Profits or losses from the sale of investments in securities represent the difference between the net proceeds and the carrying amount of the investments sold and is transferred to profit or loss.
The difference between the fair value of investments at fair value through profit or loss as at 31 December 2017 and the mid cost price represents unrealised gains and losses and is included in profit or loss in the period in which it arises. Unrealised gains and losses arising from changes in the fair value of available-for-sale financial assets are recognised in equity. When available-for-sale financial assets are sold or impaired, the accumulated fair value adjustments are included in profit or loss as fair value gains or losses on investments, taking into account any amounts charged or credited to profit or loss in previous periods.
Commission income is recognised when the right to receive payment is established.
Interest income is recognised on a time-proportion basis using the effective interest method.
The Group and its employees contribute to the Government Social Insurance Fund based on employees' salaries. The Group's contributions are expensed as incurred and are included in staff costs. The Group has no legal or constructive obligations to pay further contributions if the scheme does not hold sufficient assets to pay all employees benefits relating to employee service in the current.
Interest expense and other borrowing costs are charged to profit or loss as incurred.
Items included in the Group's financial statements are measured using the currency of the primary economic environment in which the entity operates ('the functional currency'). The financial statements are presented in Euro $(\epsilon)$ , which is the Group's functional and presentation currency.
Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.
Property, plant and equipment are stated at historical cost less accumulated depreciation and any accumulated impairment losses.
Depreciation is calculated on the straight-line method so as to write off the cost of each asset to its residual value over its estimated useful life. The annual depreciation rates used are as follows: $O/2$
| Buildings | |
|---|---|
| Motor vehicles | 20 |
| Furniture, fixtures and office equipment | 10 |
| Computer Hardware | 20 |
| Computer Software | 33,33 |
No depreciation is provided on land.
The assets residual values and useful lives are reviewed, and adjusted if appropriate, at each reporting date.
Where the carrying amount of an asset is greater than its estimated recoverable amount, the asset is written down immediately to its recoverable amount.
Expenditure for repairs and maintenance of property, plant and equipment is charged to profit or loss of the year in which it is incurred. The cost of major renovations and other subsequent expenditure are included in the carrying amount of the asset when it is probable that future economic benefits in excess of the originally assessed standard of performance of the existing asset will flow to the Group. Major renovations are depreciated over the remaining useful life of the related asset.
An item of property, plant and equipment is derecognised upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss arising on the disposal or retirement of an item of property, plant and equipment is determined as the difference between the sales proceeds and the carrying amount of the asset and is recognised in profit or loss.
Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is fair value as at the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortisation and any accumulated impairment losses. Internally generated intangible assets, excluding capitalised development costs, are not capitalised and expenditure is reflected in profit or loss in the year in which the expenditure is incurred. The useful lives of intangible assets are assessed to be either finite or indefinite.
Intangible assets with finite lives are amortised over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortisation period and the amortisation method for an intangible asset with a finite useful life is reviewed at least at each financial year end. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset is accounted for by changing the amortisation period or method, as appropriate, and are treated as changes in accounting estimates. The amortisation expense on intangible assets with finite lives is recognised in profit or loss in the expense category consistent with the function of the intangible asset.
Intangible assets with indefinite useful lives are tested for impairment annually either individually or at the cash generating unit level. Such intangibles are not amortised. The useful life of an intangible asset with an indefinite life is reviewed annually to determine whether indefinite life assessment continues to be supportable. If not, the change in the useful life assessment from indefinite to finite is made on a prospective basis.
Gains or losses arising from derecognition of an intangible asset are measured as the difference between the net disposal proceeds and the carrying amount of the asset and are recognised in profit or loss when the asset is derecognised.
Costs that are directly associated with identifiable and unique computer software products controlled by the Group and that will probably generate economic benefits exceeding costs beyond one year are recognised as intangible assets. Subsequently computer software is carried at cost less any accumulated amortisation and any accumulated impairment losses. Expenditure which enhances or extends the performance of computer software programs beyond their original specifications is recognised as a capital improvement and added to the original cost of the computer software. Costs associated with maintenance of computer software programs are recognised as an expense when incurred. Computer software costs are amortised using the straight-line method over their useful lives, not exceeding a period of three years. Amortisation commences when the computer software is available for use.
An intangible asset is derecognised on disposal, or when no future economic benefits are expected from use or disposal. Gains or losses arising from derecognition of an intangible asset, measured as the difference between the net disposal proceeds and the carrying amount of the asset, are recognised in profit or loss when the asset is derecognised.
Assets that have an indefinite useful life are not subject to amortisation and are tested annually for impairment. Assets that are subject to depreciation or amortisation are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (cash-generating units).
Financial assets and financial liabilities are recognised in the Group's consolidated statement of financial position when the Group becomes a party to the contractual provisions of the instrument.
Trade receivables are measured at initial recognition at fair value and are subsequently measured at amortised cost using the effective interest rate method. Appropriate allowances for estimated irrecoverable amounts are recognised in profit or loss when there is objective evidence that the asset is impaired. The allowance recognised is measured as the difference between the asset's carrying amount and the present value of estimated future cash flows discounted at the effective interest rate computed at initial recognition.
For the purpose of the consolidated cash flow statement, cash and cash equivalents comprise cash at bank and in hand.
Borrowings are recorded initially at the proceeds received, net of transaction costs incurred. Borrowings are subsequently stated at amortised cost. Any difference between the proceeds (net of transaction costs) and the redemption value is recognised in profit or loss over the period of the borrowings using the effective interest method.
Trade payables are initially measured at fair value and are subsequently measured at amortised cost, using the effective interest rate method.
A financial asset (or, where applicable a part of a financial asset or part of a group of similar financial assets) is derecognised when:
A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires.
When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as a derecognition of the original liability and the recognition of a new liability, and the difference in the respective carrying amounts is recognised in profit or loss.
Financial assets and financial liabilities are offset and the net amount reported in the consolidated statement of financial position if, and only if, there is a currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis, or to realise the asset and settle the liability simultaneously. This is not generally the case with master netting agreements, and the related assets and liabilities are presented gross in the consolidated statement of financial position.
Ordinary shares are classified as equity.
Non-current liabilities represent amounts that are due more than twelve months from the reporting date.
The Group is exposed to interest rate risk, credit risk, liquidity risk, currency risk and capital risk management arising from the financial instruments it holds. The risk management policies employed by the Group to manage these risks are discussed below:
Interest rate risk is the risk that the value of financial instruments will fluctuate due to changes in market interest rates. The Group's income and operating cash flows are substantially independent of changes in market interest rates as the Group has no significant interest-bearing assets. The Group is exposed to interest rate risk in relation to its non-current borrowings. Borrowings issued at variable rates expose the Group to cash flow interest rate risk. Borrowings issued at fixed rates expose the Group to fair value interest rate risk. The Company's management monitors the interest rate fluctuations on a continuous basis and acts accordingly.
Credit risk arises when a failure by counter parties to discharge their obligations could reduce the amount of future cash inflows from financial assets on hand at the reporting date. The Group has no significant concentration of credit risk. The Group has policies in place to ensure that sales of products and services are made to customers with an appropriate credit history and monitors on a continuous basis the ageing profile of its receivables.
Liquidity risk is the risk that arises when the maturity of assets and liabilities does not match. An unmatched position potentially enhances profitability, but can also increase the risk of losses. The Group has procedures with the object of minimising such losses such as maintaining sufficient cash and other highly liquid current assets and by having available an adequate amount of committed credit facilities.
Currency risk is the risk that the value of financial instruments will fluctuate due to changes in foreign exchange rates. Currency risk arises when future commercial transactions and recognised assets and liabilities are denominated in a currency that is not the Group's measurement currency. The Group is exposed to foreign exchange risk arising from various currency exposures primarily with respect to the US Dollar and the Euro. The Group's management monitors the exchange rate fluctuations on a continuous basis and acts accordingly.
Capital includes equity shares and share premium, convertible preference shares and loan from parent company.
The Group manages its capital to ensure that it will be able to continue as a going concern while maximising the return to shareholders through the optimisation of the debt and equity balance.
The preparation of financial statements in conformity with IFRSs requires the use of certain critical accounting estimates and requires Management to exercise its judgment in the process of applying the Group's accounting policies. It also requires the use of assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Although these estimates are based on Management's best knowledge of current events and actions, actual results may ultimately differ from those estimates.
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below:
The Group reviews its trade and other receivables for evidence of their recoverability. Such evidence includes the customer's payment record and the customer's overall financial position. If indications of irrecoverability exist, the recoverable amount is estimated and a respective provision for bad and doubtful debts is made. The amount of the provision is charged through profit or loss. The review of credit risk is continuous and the methodology and assumptions used for estimating the provision are reviewed regularly and adjusted accordingly.
The fair value of financial instruments that are not traded in an active market is determined by using valuation techniques. The Group uses its judgment to select a variety of methods and make assumptions that are mainly based on market conditions existing at each reporting date. The fair value of the financial assets available for sale has been estimated based on the fair value of these individual assets.
The impairment test is performed using the discounted cash flows expected to be generated through the use of non-financial assets, using a discount rate that reflects the current market estimations and the risks associated with the asset. When it is impractical to estimate the recoverable amount of an asset, the Group estimates the recoverable amount of the cash generating unit in which the asset belongs to.
Intangible assets are initially recorded at acquisition cost and are amortized on a straight line basis over their useful economic life. Intangible assets that are acquired through a business combination are initially recorded at fair value at the date of acquisition. Intangible assets with indefinite useful life are reviewed for impairment at least once per year. The impairment test is performed using the discounted cash flows expected to be generated through the use of the intangible assets, using a discount rate that reflects the current market estimations and the risks associated with the asset. When it is impractical to estimate the recoverable amount of an asset, the Group estimates the recoverable amount of the cash generating unit in which the asset belongs to.
| 2017 | |
|---|---|
| Commissions receivable | € 747.622 |
| Sales of goods | 6.720 |
| 754.342 | |
| 6. Cost of sales | |
| 2017 | |
| Services received | |
| 377.970 | |
| 377,970 | |
| 7. Other operating income | |
| 2017 | |
| Interest income | € 185 |
| Exchange profit | 5.995 |
| Commissions received | 131 |
| Discounts received | 215 |
| Net profit from operating activities | 379 |
| Profit from sale of financial assets at fair value through profit or loss | 18.292 |
| Fair value gains on financial assets at fair value through profit or loss | 1.200 |
| Excess of Group's interest in the net fair value of the subsidiaries' assets and liabilities over cost on | |
| acquisition | 45.032 |
| Sundry operating income | 3.831 |
| 75.260 | |
| Interest income is analysed as follows: | |
| 2017 | |
| Bank deposits | € 185 |
| 185 | |
| 8. Selling and distribution expenses | |
| 2017 | |
| € | |
| Inland travelling | 15.367 |
| 15.367 | |
| 2017 | |
|---|---|
| Staff costs | € 128.574 |
| Rent | 7.380 |
| Common expenses | 500 |
| Licenses and taxes | 641 |
| Municipality taxes | 1.175 |
| Annual levy | 1.400 |
| Electricity | 2.678 |
| Water supply and cleaning | 171 |
| Insurance | 2.025 |
| Repairs and maintenance | 1.755 |
| Sundry expenses | 29.470 |
| Telephone and postage | 5.015 |
| Stationery and printing | 393 |
| Subscriptions and contributions | 36.002 |
| Staff training | 1.724 |
| Sundry staff costs | 270 |
| Computer supplies and maintenance | 2.730 |
| Auditors' remuneration - current year | 7.495 |
| Auditors' remuneration - prior years | 285 |
| Accounting fees | 2.400 |
| Other professional fees | 11.450 |
| Fines | 314 |
| Inland travelling and accommodation | 10.802 |
| Irrecoverable VAT | 11.242 |
| Entertaining | 21.100 |
| Motor vehicle running costs | 1.309 |
| Carriage and clearing | 1.733 |
| Expenses | з |
| Services | 179 |
| Amortisation of computer software | 1.093 |
| Depreciation | 19.721 |
| 311.029 | |
| 10. Other expenses | |
| 2017 | |
| € | |
| Tax allowable expense | 187 |
| Loss from sales of financial assets at fair value through profit or loss | 1.076 |
| Fair value losses on financial assets at fair value through profit or loss | 12.115 |
| 13.378 | |
| 11. Staff costs | |
| 2017 | |
| € | |
| Salaries | 115.362 |
| Social security costs | 10.929 |
| Social cohesion fund | 2.283 |
| 128.574 |
| 2017 € |
|
|---|---|
| Net foreign exchange losses | 2.338 |
| Interest expense | 93 |
| Sundry finance expenses | 6.109 |
| 8.540 |
The tax on the Group's profit before tax differs from theoretical amount that would arise using the applicable tax rates as follows:
| 2017 | |
|---|---|
| Profit before tax | € 98.297 |
| Tax calculated at the applicable tax rates | 12.287 |
| Tax effect of expenses not deductible for tax purposes | 5.376 |
| Tax effect of allowances and income not subject to tax | (12.207) |
| Tax effect of tax losses brought forward | (5.456) |
| Tax charge |
The corporation tax rate is 12,5%.
Under certain conditions interest income may be subject to defence contribution at the rate of 30%. In such cases this interest will be exempt from corporation tax. In certain cases, dividends received from abroad may be subject to defence contribution at the rate of 17%.
| Land and buildings |
Motor | Furniture, vehicles fixtures and office equipment |
Total | |
|---|---|---|---|---|
| € | € | € | € | |
| Cost Acquisitions through business combinations |
178.500 | 7.000 | 10.332 | 195.832 |
| Balance at 31 December 2017 | 178.500 | 58.618 | 32.153 | 269.271 |
| Depreciation | ||||
| Charge for the year | 5.355 | 11.723 | 2.643 | 19.721 |
| Balance at 31 December 2017 | 5.355 | 26.184 | 14.128 | 45.667 |
| Net book amount | ||||
| Balance at 31 December 2017 | 173.145 | 32,434 | 18.025 223.604 |
| Computer software € |
|
|---|---|
| Cost Additions |
|
| 1.982 | |
| Balance at 31 December 2017 | 13.591 |
| Amortisation | |
| Amortisation for the year | 1.093 |
| Balance at 31 December 2017 | 9.287 |
| Net book amount | |
| Balance at 31 December 2017 | 4.304 |
| 16. Trade and other receivables | |
| 2017 | |
| Trade receivables | € |
| Shareholders' current accounts - debit balances (Note 24.2) | 1.712.214 |
| Other receivables | 343 |
| Refundable VAT | 6.248 |
| 6.372 | |
| 1.725.177 |
The Group does not hold any collateral over the trading balances.
The fair values of trade and other receivables due within one year approximate to their carrying amounts as presented above.
The exposure of the Group to credit risk and impairment losses in relation to trade and other receivables is reported in note 3 of the consolidated financial statements.
| 2017 | |
|---|---|
| € | |
| Balance at 1 January | $\frac{1}{2}$ |
| Additions | 33.480 |
| Change in fair value | (10.914) |
| Balance at 31 December | 22.566 |
The financial assets at fair value through profit or loss are marketable securities and are valued at market value at the close of business on 31 December by reference to Stock Exchange quoted bid prices. Financial assets at fair value through profit or loss are classified as current assets because they are expected to be realised within twelve months from the reporting date.
In the consolidated cash flow statement, financial assets at fair value through profit or loss are presented within the section on operating activities as part of changes in working capital. In the consolidated statement of profit or loss and other comprehensive income, changes in fair values of financial assets at fair value through profit or loss are recorded in operating income.
| 2017 | |
|---|---|
| Balance at 1 January | € |
| Additions | 76.632 |
| Balance at 31 December | 76.632 |
| 19. Cash at bank and in hand | |
| Cash balances are analysed as follows |
| 2017 | |
|---|---|
| Cash at bank and in hand | 206,646 |
| 206.646 |
The exposure of the Group to credit risk and impairment losses in relation to cash and cash equivalents is reported in note 3 of the consolidated financial statements.
| Authorised | 2017 Number of shares |
2017 € |
|---|---|---|
| Ordinary shares of $€1,00$ each | 1.000.000 | 1,000,000 |
| Issued and fully paid | € | |
| Balance at 1 January | 600.000 | 600.000 |
| Balance at 31 December | 600,000 | 600.000 |
Under its Memorandum the Company fixed its share capital at $1,000,000$ ordinary shares of nominal value of $61$ each.
| 2017 € |
|
|---|---|
| Non-current borrowings | |
| Debentures | 129.000 |
| Maturity of non-current borrowings: | |
| 2017 | |
| € | |
| Between two and five years | 129,000 |
| 2017 | |
|---|---|
| € | |
| Trade payables | 1.614.544 |
| Social insurance and other taxes | 2.073 |
| Accruals | 6.306 |
| Other creditors | 17.255 |
| 1.640.178 |
The fair values of trade and other payables due within one year approximate to their carrying amounts as presented above.
Following a long and relatively deep economic recession, the Cyprus economy began to record positive growth in 2015 which accelerated during 2016. The restrictive measures and capital controls which were in place since March 2013 were lifted in April 2015 and on the back of the strength of the economy's performance and the strong implementation of required measures and reforms, Cyprus exited its economic adjustment programme in March 2016. In recognition of the progress achieved on the fiscal front and the economic recovery, as well as the enactment of the foreclosure and insolvency framework, the international credit rating agencies have proceeded with a number of upgrades of the credit ratings for the Cypriot sovereign, and although the rating continues to be 'non-investment grade', the Cyprus government has regained access to the capital markets. The outlook for the Cyprus economy over the medium term remains positive, however, there are downside risks to the growth projections emanating from the high levels of non performing exposures, uncertainties in the property markets, as well as potential deterioration in the external environment for Cyprus, including continuation of the recession in Russia in conditions of protracted declines in oil prices; weaker than expected growth in the euro area as a result of worsening global economic conditions; slower growth in the UK with a weakening of the pound as a result of uncertainty regarding the result of the Brexit referendum; and political uncertainty in Europe in view of Brexit and the refugee crisis.
This operating environment may have a significant impact on the Group's operations and financial position. Management is taking necessary measures to ensure sustainability of the Group's operations. However, the future effects of the current economic situation are difficult to predict and management's current expectations and estimates could differ from actual results.
The Company's management is unable to predict all developments which could have an impact on the Cyprus economy and consequently, what effect, if any, they could have on the future financial performance, cash flows and financial position of the Group.
On the basis of the evaluation performed, the Group's management has concluded that no provisions or impairment charges are necessary. The Company's management believes that it is taking all the necessary measures to maintain the viability of the Group and the smooth conduct of its operations in the current business and economic environment.
The following transactions were carried out with related parties:
The remuneration of Directors and other members of key management was as follows:
| 2017 | |
|---|---|
| € | |
| Directors' remuneration | 84.058 |
| 84.058 |
Alexandros Sinos
The shareholders' current accounts are interest free, and have no specified repayment date.
The Group had no contingent liabilities as at 31 December 2017.
The Group had no capital or other commitments as at 31 December 2017.
There were no material events after the reporting period, which have a bearing on the understanding of the consolidated financial statements.
2017 €
343 343
2017 Page € Revenue Commissions receivable 747.622 Sales of goods 6.720 Cost of sales $(377.970)$ Gross profit 376.372 Administration fees $(100)$ Transaction costs $(4.921)$ Other operating income Bank interest 185 Unrealised foreign exchange profit 5.995 Commissions received 131 Sundry operating income 3.831 Discounts received $215$ Net profit from operating activities 379 Excess of Group's interest in the net fair value of the subsidiaries' assets and liabilities over cost on acquisition 45.032 Profit from sale of financial assets at fair value through profit or loss 18.292 Fair value gains on financial assets at fair value through profit or loss 1.200 446.611 Operating expenses Administration expenses $27$ $(311.029)$ Selling and distribution expenses $27$ $(15.367)$ 120.215 Other operating expenses Tax allowable expense $(187)$ Loss from sales of financial assets at fair value through profit or loss $(1.076)$ Fair value losses on financial assets at fair value through profit or loss $(12.115)$ Operating profit 106.837 Finance costs 28 $(8.540)$ Net profit for the year before tax 98.297
| 2017 | |
|---|---|
| € | |
| Administration expenses | |
| Directors' remuneration | 84.058 |
| Staff salaries | 31.304 |
| Social insurance | 10.929 |
| Social cohesion fund | 2.283 |
| Rent | 7.380 |
| Common expenses | 500 |
| Licenses and taxes | 641 |
| Municipality taxes | 1.175 |
| Annual levy | 1.400 |
| Electricity | 2.678 |
| Water supply and cleaning | 171 |
| Insurance | 2.025 |
| Repairs and maintenance | 1.755 |
| Sundry expenses | 29.470 |
| Telephone and postage | 5.015 |
| Stationery and printing | 393 |
| Subscriptions and contributions | 36.002 |
| Staff training | 1.724 |
| Sundry staff costs | 270 |
| Computer supplies and maintenance | 2.730 |
| Auditors' remuneration - current year | 7.495 |
| Auditors' remuneration - prior years | 285 |
| Accounting fees | 2.400 |
| Other professional fees | 11.450 |
| Fines Inland travelling and accommodation |
314 |
| Irrecoverable VAT | 10.802 |
| Entertaining | 11.242 21.100 |
| Motor vehicle running costs | 1.309 |
| Carriage and clearing | 1.733 |
| Expenses | 3 |
| Services | 179 |
| Amortisation of computer software | 1.093 |
| Depreciation | 19.721 |
| 311.029 | |
| 2017 | |
| € | |
| Selling and distribution expenses | |
| Inland travelling | 15.367 |
| 15.367 |
| 2017 € |
|
|---|---|
| Finance costs | |
| Interest expense | |
| Bank overdraft interest | 93 |
| Sundry finance expenses | |
| Bank charges | 6.109 |
| Net foreign exchange losses | |
| Realised foreign exchange loss | 987 |
| Unrealised foreign exchange loss | 1.351 |
| $R$ 540 |
| COST | ANNUAL ALLOWANCES | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Year | % | Balance 1/1/2017 |
Additions for the year |
Disposals for the year |
Balance 31/12/2017 |
1/1/2017 Balance |
Charge for the year |
5 disposals |
Balance 31/12/2017 |
Net value 31/12/2017 |
|
| Land and buildings Flat in Limassol |
2017 | 3 | 178.500 | 178.500 | 173.145 | ||||||
| $\mathbf{r}$ | 178.500 | 178.500 | 5.355 | 5.355 | 173.145 | ||||||
| Motor vehicles | |||||||||||
| Furniture, fixtures and office equipment | |||||||||||
| Furniture & Fittings | 2012 | $\overline{10}$ | 3.464 | 3.464 2.634 2.737 2.737 |
2.076 1.578 1.370 1.370 |
3634225 | 2.422 | 1.042 | |||
| Office Equipment | 2012 | $\overline{10}$ | |||||||||
| Office Equipment | 2013 | $\Box$ | |||||||||
| Office Equipment | 2013 | 10 | $2.737$ $7.737$ $546$ |
1.841 246 1.644 |
793 1.093 |
||||||
| Office Equipment | 2015 | $\Omega$ | 219 165 |
439 | |||||||
| Office Equipment | 2015 | $\Omega$ | ARSERER | 8823 | 383578 | ||||||
| Telephones | 2016 | $\Xi$ | 406 155 78 |
4168 | |||||||
| Furniture & Fittings | 2016 | $\Xi$ | |||||||||
| Shredder | 2016 | $\Xi$ | 8258 | 344 | |||||||
| Mobile Phone | 2016 | $\Xi$ | 14 | ||||||||
| Earphones | 2016 | ≘ | 4 | $\sim$ | 16 279 |
||||||
| Dishwasher | 2016 | $\Box$ | 80 | $\overline{40}$ | 120 | ||||||
| Iron | 2016 | 10 | |||||||||
| Inventor 9000 (2 items) | 2017 | $\Box$ | 2116 | ||||||||
| Inventor 24000 | 2017 | $\Omega$ | |||||||||
| Inventor 12000 WI-FI | 2017 | $\Box$ | Example Example | 825888 | 388 m | 19448 | |||||
| WI-FI module | 2017 | 10 | $^{24}$ | ||||||||
| Alarm System | 2017 | $\Xi$ | .270 | 1.270 3.000 |
$4.888\omega$ $\frac{158}{128}$ | 127 | 50000000000000000000000000000000000000 | 1.016 | |||
| Pinakes | 2017 | $\Box$ | 3.000 | ||||||||
| Wireless PIR Detector | 2017 | 10 | $\approx$ | ||||||||
| Wireless Smoke Detector | 2017 | $\overline{10}$ | KER&BALK | 150 | 715 | 15 | |||||
| Trikdis G10T | 2017 | $\Box$ | 240 | 24 | |||||||
| Battery Wireless Detectors (4 items) | 2017 | 10 | 48 | ||||||||
| Alarm System Artion | 2017 | $\overline{10}$ | 65 | ||||||||
| Smoke Detector Artion (5 items) | 2017 | $\overline{10}$ | 20232 | 5934 | ₩ | ||||||
| Temperature Detector | 2017 | $\overline{10}$ | |||||||||
| Remote Control (2 items) | 2017 | $\Box$ | 2888188 | sagsaggars | |||||||
| Samsung Galaxy | 2017 | $\Xi$ | 429 | 429 | |||||||
29
| CO'S | ANNUAL ALLOWANCES | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Year | $\%$ | Balance 1/1/2017 |
Additions for the year $\in$ |
Disposals for the year |
Balance 31/12/2017 |
1/1/2017 Balance |
Charge for the year |
S disposals |
Balance 31/12/2017 |
Net value 31/12/2017 Ψ |
|
| Furniture, fixtures and office equipment (continued) | |||||||||||
| Shredder | 2017 | $\overline{10}$ | 19.795 | 134 | 13 | 26 | 108 | ||||
| 19.795 | 6.665 | 1.981 | 8.646 | 11.149 | |||||||
| Computer Hardware | |||||||||||
| Computer Hardware | 2012 | 20 | 7.785 | ||||||||
| Demstar | 2015 | 888 | 1.785 526 580 |
570 | 1823 2825 2825 |
7.785 | |||||
| Demstar | 2015 | 118114 | 456 | 114 114 114 |
|||||||
| PC Monitor | 2015 | 589 570 |
472 | ||||||||
| PC Monitor 2 | 2015 | 20 | |||||||||
| 570 | 570 | 456 | |||||||||
| 10.084 | 10.084 | 9.165 | 460 | 9.625 | 459 | ||||||
| Total | 29.879 | 178.500 | 208.379 | 15.830 | 7.796 | ||||||
| 23.626 | 184.753 | ||||||||||
| Computer software MS. Office Pro 2010 |
2012 | 33 | |||||||||
| Solution ERP | |||||||||||
| 33 | $1.810$ $8.500$ $1.299$ |
||||||||||
| Advak Barracuda | 33 | $1.810$ $8.500$ $1.291$ |
|||||||||
| Disaster Recovery | ASSAN | $33$ | 1.810 8.500 4.65 4.65 4.65 |
333 | 1.810 8.500 1.296 5.746 |
||||||
| SQL Recovery | 998 465 |
155 | 333 | ||||||||
| Software Digicert | 33 | 518 | 173 | 173 | |||||||
| 13.590 | 13.590 | 12,262 | 669 | 12.931 | 33.58 | ||||||
30
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.