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.
RFR2 states that a legal entity shall apply IFRS / IAS as used in the consolidated financial statements, insofar as this is possible within the framework of the Annual Accounts Act, the Security Act, and with consideration to the relationship between accounting and taxation. The recommendation specifies the exceptions and additions to IFRS that should be made.
Accounting principles that differ relate to the accounting of leases, where the rules of the Annual Accounts Act are applied instead of IFRS 16.
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.
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.
Sales
Of the Parent company ' s invoiced sales, SEK 179,7( 121,2) million equivalent to 99.6( 99.4 %) 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 2024.
Note 3- Other operating income
SEK million |
2024 |
2023 |
Foreign exchange gains |
35.7 |
43.3 |
Other contributions and payments |
0.1 |
3.6 |
Total |
35.8 |
46.8 |
Note 4- Average number of employees
2024 Number of employees
Of which men
2023 Number of employees
Of which men
Gothenburg |
59 |
38 |
53 |
34 |
Total |
59 |
38 |
53 |
34 |
New accounting policies for 2024
The changes in RFR 2 Accounting for Legal Entities that have come into effect and apply for the financial year 2024 have not had any significant impact on the parent company ' s financial reporting. The Financial Reporting Board has not decided on or proposed any significant changes that have not yet come into effect.
ANNUAL REPORT // 133