New Wave Group Annual Report 2020 English | Page 102

NWG // FINANCIAL INFORMATION // THE GROUP
Note 20 - Net assets in foreign currencies
The table shows currency exposed equity distributed by each currency before Group adjustments .
SEK million Net assets 2020 2019 Euro , EUR 947.0 914.2 Canadian dollar , CAD 155.8 156.7 Swiss franc , CHF 206.7 259.4 US dollar , USD 1 311.1 1 456.6 Norwegian krone , NOK 95.8 80.4 Danish krone , DKK 68.3 61.1 Chinese yuan , CNY 30.7 46.4 Polish zloty , PLN 48.8 30.5 Hong Kong dollar , HKD 89.7 85.8 British pound , GBP 55.7 62.0 Icelandic krona , ISK 2.6 4.2 Total net assets in foreign currencies 3 012.3 3 157.4
Contingent liabilities
Accounting policies
A contingent liability is recognized for a possible obligation , for which it is not yet confirmed that a present obligation exists that could lead to an outflow of resources . Alternatively , there is a present obligation that does not meet the definitions of a provision or a liability as it is not probable that an outflow of resources will be required to settle the obligation or a sufficiently reliable estimate of the amount of the obligation cannot be made .
SEK million 2020 2019 Duty guarantees 12.2 11.4 Rent guarantees 151.5 177.7 Other guarantees 0.0 1.0 Guarantees for associated companies 6.0 6.0
Total 169.7 196.1
Note 21 - Pledged assets and contingent liabilities
Pledged assets
The Group ' s pledged assets consist of collateral for the Group ' s interest-bearing liabilities to credit institutions which amounted to SEK 1,400.9 ( 2,512.3 ) million at year-end . Security for the main financing agreement is made up of floating charges , property mortgages , and net assets in Group companies . Trademarks have been specifically pledged and are included in the net assets of the Group companies . Parts of the Group ’ s inventory and accounts receivable constitute security for Group companies ’ local funding . See further note 16 , section Liquidity risk , for maturity analysis and information regarding the conditions for the Group ’ s financing .
Note 22 - Other current liabilities
SEK million
2020
2019
VAT
109.6
83.9
Employee withholding taxes
20.0
11 . 5
Liabilities to employees
9.2
8.4
Repayment liabilities , returns
8.6
11.6
Currency futures
4.7
2.2
Social security contributions
3.4
1.7
Other wage deductions
2.4
1.3
Purchase price not paid
0.0
2.3
Other items
19.7
17.0
Total
177.6
139.8
SEK million
2020
2019
Floating charges
690.5
690.5
Property mortgages
172.0
178.0
Net assets in Group companies
3 201.5
3 143.5
Shares in associated companies
8.3
8.3
Inventory and accounts receivable
321.7
613.5
Total
4 394.1
4 633.9
102 // ANNUAL REPORT