Note 1 - Accounting policies for the Parent company
Note 2 - Related parties
Note 3 - Other operating income
Note 4 - Average number of employees
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 2023
Several amendments to existing standards have been published and will come into effect in 2023 and beyond . One of these is changes in IAS 1 - Disclosure of accounting principles . To support the changes , the IASB has also developed guidance and examples to explain and identify a significant accounting principle . The company ' s management assesses that this change is expected to affect information about applied accounting principles and work is underway to evaluate these effects in their entirety . Other changes are not considered to have a significant impact on the parent company ´ s financial reports .
Sales
Of the Parent company ' s invoiced sales , SEK 121.2 ( 99.4 ) million equivalent to 99.4 ( 99.3 %) 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 2023 .
Note 3 - Other operating income
SEK million |
2023 |
2022 |
Foreign exchange gains |
43.3 |
60.8 |
Other contributions and payments |
3.6 |
0.8 |
Total |
46.8 |
61.6 |
Note 4 - Average number of employees
2023 Number of employees
Of which men
2022 Number of employees
Of which men
Gothenburg |
53 |
34 |
44 |
28 |
Total |
53 |
34 |
44 |
28 |
ANNUAL REPORT // 115