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Balance Sheet 2013-2012
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Balance Sheet 2013-2012

    2013 2012
ASSETS    
I Current Assets
Accounts receivable                   508,471.97                  338,620.51
Short term investments                                     -                    201,240.00
Cash in bank and deposit                1,370,648.04              1,082,117.39
Prepaid expenses                      22,281.59                    16,665.53
Total current assets                1,901,401.60              1,638,643.43
II Fixed Assets 
Leasehold                      52,510.68                    55,947.95
Furniture, ICT equipment and software                      26,750.97                    30,900.24
Guarantees (rent and social security)                      11,939.67                    11,733.04
Total fixed assets                      91,201.32                    98,581.23
TOTAL ASSETS                1,992,602.92              1,737,224.66
LIABILITIES    
I Current liabilities
Accounts payable                   128,029.09                  132,506.82
Deferred income                1,353,468.06              1,054,324.52
Income to be allocated to projects' partners                   116,585.63                  155,542.80
Total current liabilities                1,598,082.78              1,342,374.14
II Reserves
Funds brought forward                   394,850.52                  403,927.04
Surplus or deficit for the year                          -330.38                     -9,076.52
Total reserves                   394,520.14                  394,850.52
TOTAL LIABILITIES                1,992,602.92              1,737,224.66