18. Assets and liabilities of the Company Social Benefits Fund
| SIGNIFICANT ACCOUNTING PRINCIPLES |
|---|
|
The Company Social Benefits Fund and other Special Funds Pursuant to the Social Benefits Fund Act of 4 March 1994, as amended, a Company Social Benefit Fund is established by entities employing more than 50 people, calculated in full-time positions. The companies making up the Group establish such a fund and make periodic contributions to it. The objective of the Fund is to subsidise the Group’s social activities, loans granted to employees, as well as other social costs. Contributions to the Company Social Benefits Fund made during the course of a year constitute costs incurred in a given period. The Group offsets the liabilities and assets of the Company Social Benefits Fund. |
|
As at 31 December 2023 |
As at 31 December 2022 |
|
| Loans granted to employees | 85 | 75 |
| Cash and cash equivalents | 58 | 48 |
| Other assets | 2 | 2 |
| Fund’s liabilities | (132) | (120) |
| BALANCE AFTER COMPENSATION | 13 | 5 |
| Contribution to Fund during period |
293 | 283 |
Additionally, as described in note 21, the PGE Group companies recognise a provision for post-employment benefits (Company Social Benefits Fund).