MRM - 2018 Registration document

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General information on the issuer and its capital

Consolidated financial statements for the financial year ended 31 December 2018

4.7 Other receivables

Accounting principles

Receivables and payables with deferred payments IAS 39 requires the discounting of any sums whose payment or receipt is deferred in a manner that deviates from standard practice. The amounts of these receivables or payables are discounted and a financial profit or loss recognised in the statement of comprehensive income over the deferred payment period. The discount rate applied is the one used to discount cash flows and capitalise rents for the purposes of property valuation by the independent appraiser. The only deferred payments recognised relate to guarantee deposits received from tenants. No receivables with deferred payments were recognised. As of 31 December 2018, the discount rate was 6.73%. Other receivables break down as follows:

31/12/2018

31/12/2017

Gross 2,761

Impairment

Net

Net

(in thousands of euros) Tax receivables (1) Other receivables (2)

- - - - - -

2,761

2,283

236

236

643

Funds deposited at third parties (3)

8

8

26

Letting fees (4)

339 576

339 576

408 133

Prepaid expenses

TOTAL OTHER RECEIVABLES

3,921

3,921

3,493

(1) This amount basically corresponds to a VAT credit to be carried forward. (2) This amount primarily relates to service charges payable to owners. (3) This relates to funds deposited at notaries. (4) This relates to letting fees spread over the corresponding lease term.

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M.R.M. 2018 REGISTRATION DOCUMENT