Financial Position A&T Finansal Kiralama A.Ş. Annual Report 2024 92 93 (Amounts expressed Turkish lira (“TL”) unless otherwise indicated.) (Amounts expressed Turkish lira (“TL”) unless otherwise indicated.) A&T FİNANSAL KİRALAMA A.Ş. A&T FİNANSAL KİRALAMA A.Ş. NOTES TO THE FINANCIAL STATEMENTS AS AT AND FOR THE YEAR ENDED 31 DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS AS AT AND FOR THE YEAR ENDED 31 DECEMBER 2024 A& FİNANSAL KİRAL MA A. Ş. NOTES TO THE FINANCIAL STATEMENTS AS AT AND FOR THE YEAR ENDED 31 DECEMBER 2024 (Amounts expressed Turkish lira (“TL”) unless otherwise indicated.) 33 13 - SHAREHOLDERS’ EQUITY (Continued) With the capital increase decision taken at the Ordinary General Assembly meeting of the Company held on 19 March 2024, it was decided to use 1,941,752 Turkish Liras from the profit of 2022 and 6,058,248 Turkish Liras from the profit of 2023 for capital increase from retained earnings. Retained earnings in the statutory books are available for distribution, except for the following provision relating to legal reserves. The first legal reserve is appropriated out of the statutory profits at the rate of 5% per annum, until the total reserve reaches 20% of the Company's paid-in share capital. The second legal reserve is appropriated at the rate of 10% of all distributions in excess of 5% of the paid-in share capital. Under the Turkish Commercial Code, the legal reserves can only be used to offset losses and are not available for any other usage unless they exceed 50% of paid-in share capital. b) Capital reserves At 31 December 2024, the Company has TL 228,147 of capital reserves (31 December 2023: TL 228,147). c) Other comprehensive Income At 31 December 2024, the Company’s other comprehensive income amounting to TL 43,156,793 consist of actuarial gain and revaluation surplus (31 December 2023: TL 32,031,749). d) Income reserves At 31 December 2024, the Company has TL 8,998,696 of income reserves (31 December 2023: TL 8,024,119). e) Prior year income / loss At 31 December 2024, the Company’s prior year income is TL 12,458,717 (31 December 2023: TL 1,941,752). 14 – FINANCE LEASE INCOME Finance lease income for the years ended 31 December 2024 and 31 December 2023 are as follows: 1 January- 31 December 2024 1 January- 31 December 2023 Finance lease income 190,173,258 115,906,138 Fees and commissions received from the leasing transactions 9,458,299 4,602,491 Total 199,631,557 120,508,629 A& FİNANSAL KİRAL MA A. Ş. NOTES TO THE FINANCIAL STATEMENTS AS AT AND FOR THE YEAR ENDED 31 DECEMBER 2024 (Amounts expressed Turkish lira (“TL”) unless otherwise indicated.) 34 15 - MAIN OPERATING EXPENSES The main operating expenses for the years ended on 31 December 2024 and 31 December 2023 are as follows: 1 January- 31 December 2024 1 January- 31 December 2023 Personnel expenses 54,346,087 47,421,366 General operating expenses 24,178,183 18,637,991 Termination indemnity expense 487,794 988,516 Other 14,675,040 4,791,169 Total 93,687,104 71,839,042 General operating expenses for the years ended on 31 December 2024 and 31 December 2023 are as follows: 1 January- 31 December 2024 1 January- 31 December 2023 Expenses related to the financial leasing 6,601,363 5,507,844 Audit and consultancy expenses 4,022,404 2,914,385 Insurance expenses 2,854,926 1,310,706 Depreciation and amortization expenses (Note 5, 6) 2,655,286 1,425,577 Office-related expenses 2,210,814 1,729,079 Tax Duties and Fees 1,587,635 981,502 Travel Expenses 518,520 30,397 Heating Lighting Water Expenses 478,468 414,675 Communication and transport expenses 266,156 120,861 Advertisement Expenses 265,929 152,544 Transport vehicle expenses 231,693 149,087 Rent Expenses 146,920 93,822 Other general expenses(*) 2,338,070 3,807,512 Total 24,178,184 18,637,991 (*) Other expenses include, notary and translation expenses, representation, and staff training expenses, and expenses that are not legally accepted. 16 - OTHER OPERATING INCOME AND EXPENSE 1 January- 31 December 2024 1 January- 31 December 2023 Other operating income Foreign exchange transactions profit 334,726,624 634,045,663 Interest received from banks 35,401,408 10,002,680 Others(*) 5,465,376 12,327,552 Total 375,593,408 656,375,895 Other operating expense Loss from foreign exchange transactions 328,103,637 627,143,852 Loss from derivative financial transactions 462,786 -- Others 551 62,024 Total 328,566,974 627,205,876 (*) Others in other operating income include special provision revenues, revenues from severance pay cancellations and revenues from sales of assets. Special provision incomes consist of the revenues obtained from the provisions included in the provision and impairment income at the end of the last year but canceled this year.
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