NWG // FINANCIAL INFORMATION //
THE PARENT COMPANY
Note 1 - Accounting policies for the Parent company
Note 2 - Related parties
The Swedish Financial Reporting Board ’ s Recommendation 2 – Accounting for Legal Entities ( RFR 2 ) and the Swedish Annual Accounts Act have been applied when preparing the Parent company ’ s annual accounts . In accordance with RFR 2 , the Parent company shall prepare its reports in accordance with the IASB ’ s International Financial Reporting Standards ( IFRS ) adopted by the EU , to the extent that these are not contrary to the Swedish Annual Accounts Act . The accounting policies have been applied consistently for all periods , unless otherwise stated .
In Sweden , group contributions are tax deductable or taxable , unlike shareholder contributions . Group contributions are reported so that they mainly reflect the transaction ’ s financial consequence . Group contributions , which have the same aim as the shareholder contribution , are added to the acquisition value of shares in Group companies with a reservation for impairment testing . Group contributions , received and provided , and their associated tax effect are recognized in the income statement .
The deferred tax liability on untaxed reserves is reported under untaxed reserves in the Parent company ’ s annual accounts due to the connection between accounting and taxation .
Shares in Group and associated companies are recognised at cost and subject to impairment testing each year , by comparing discounted expected future cash-flows with book value of the shares in each company
New accounting policies for 2020
No new accounting policies that entered into force in 2020 are deemed to have had any material impact on the Group financial statements .
Sales
Of the Parent company ' s invoiced sales , SEK 90.0 ( 103.2 ) million equivalent to 99.4 ( 99.5 %) were sales to Group companies . All transactions are carried out under market conditions .
Transactions with related persons
The Parent company did not have any transactions with related persons during 2020 .
Note 3 - Other operating income
SEK million |
2020 |
2019 |
Foreign exchange gains |
36.4 |
31.1 |
Other contributions and payments |
4.6 |
5.6 |
Total |
41.1 |
36.8 |
Note 4 - Average number of employees
2020 Number of employees
Of which men
2019 Number of employees
Of which men
Gothenburg |
47 |
31 |
38 |
26 |
Total |
47 |
31 |
38 |
26 |
ANNUAL REPORT / / 111