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134 Unilever Annual Report and Accounts 2006
Financial Statements (continued)
Notes to the company accounts (continued) Unilever N.V.
Fixed investments €million €million
2006 2005
Shares in group companies(a) 26 241 11 082
PLC shares held in connection with
share options 375 432
Less NV shares held by group companies (211) (238)
26 405 11 276
Movements during the year:
1January 11 276 11 233
PLC shares held in connection
with share options (57) (13)
NV shares held by group companies 27 (2)
Additions 15 342 89
Decreases (183) (31)
31 December 26 405 11 276
(a) Unilever decided to transfer its group financing activities into a
separate financing entity, Unilever Finance International B.V., a
100% subsidiary of Unilever N.V. based in the Netherlands. The
transfer was executed as a contribution in kind on issued shares.
Debtors €million €million
2006 2005
Loans to group companies 3269 22 460
Other amounts owed by group companies 2288 3771
Amounts owed by undertakings in which
the company has a participating interest 43 15
Prepayments and accrued income 335 587
Other 72 65
6007 26 898
Of which due after morethan one year 2312 6645
Cash at bank and in hand
At31 December 2006 thereis no cash at bank and in hand for which
payment notice is required (2005: €38 million).
Creditors €million €million
2006 2005
Due within one year:
Bonds and other loans 1503 4548
Loans from group companies 1248 3328
Other amounts owed to group companies 17 244 18 699
Taxation and social security 48 20
Accruals and deferred income 400 405
Other 203 109
20 646 27 109
Due after more than one year:
Bonds and other loans 746 2323
Loans from group companies 1521 –
Accruals and deferred income 60 56
Preference shares(a) 124 124
2451 2503
(a) Information on the euro conversion of the preference shares is
given in note 16 to the consolidated accounts on page 96.
Creditors due after five years amount to €1 630 million
(2005: €870 million) (Article 375.2 of Book 2 of the Civil Code in
the Netherlands).
Provisions for liabilities and charges (excluding pensions
and similar obligations)
€million €million
2006 2005
Preference shares provision 300 –
Deferred taxation and other provisions 36 115
336 115
Of which due within one year 332 34
Ordinary share capital
Shares numbered 1 to 2 400 are held by a subsidiary of NV and a
subsidiary of PLC, each holding 50%. Additionally, 72 484 322
(2005: 73 810 983) €0.16 ordinary shares are held by NV and other
group companies. Full details as well as information on the euro
conversion and subsequent split of ordinary shares are given in note
22 to the consolidated accounts on page 109.
Share premium account
The share premium shown in the balance sheet is not available for the
issue of bonus shares or for repayment without incurring withholding
tax payable by the company. This is despite the change in tax law in
the Netherlands, as a result of which dividends received from 2001
onwards by individual shareholders who are resident in the
Netherlands are no longer taxed.
Other reserves €million €million
2006 2005
1January (1 321) (1 379)
Change in own shares held 93 58
31 December (1 228) (1 321)
Profit retained €million €million
2006 2005
1 January 9463 8105
Profit for the year 1847 2636
Ordinary dividends – final 2004 –(716)
Ordinary dividends – interim 2005 –(367)
Ordinary dividends – final 2005 (729) –
Ordinary dividends – interim 2006 (382) –
One-off dividend (432) –
Conversion of preference shares –(199)
Fair value adjustments for cash flow hedges (4) 4
Realised profit/(loss) on shares/certificates held
to meet employee share options (6) (1)
Changes in present value of net pension liability (2) 1
31 December 9755 9463
Profit retained shown in the company accounts and the notes thereto
differs from the amount shown in note 24 to the consolidated
accounts on page 111 mainly because of certain inter-company
transactions which are eliminated in the consolidated accounts.
€million €million
2006 2005
Difference as at 1 January 742 1275
Changes in equity of consolidated participations (1 667) (3 580)
Changes in accumulated intercompany results 2276 3047
Difference as at 31 December 1351 742
Contingent liabilities
Contingent liabilities arenot expected to give rise to any material
loss and include guarantees given for group companies. The
estimated total of such liabilities as at 31 December 2006 was
some €4635 million (2005: €5 416 million) of which €3203 million
(2005: €3 705 million) was also guaranteed by PLC. The fair value
of such guarantees is not significant in either 2005 or 2006. The
guarantees issued to other companies wereimmaterial.
NV has issued joint and several liability undertakings, as defined in
Article 403 of Book 2 of the Civil Code in the Netherlands, for almost
all Dutch group companies. These written undertakings have been
filed with the office of the Company Registry in whose area of
jurisdiction the group company concerned has its registered office.