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65 TomTom Annual Report 2006Notes to the Company Financial Statements
Notes to the Company Financial Statements
1. Presentation of financial statements
and principal accounting policies
The description of TomTom’s (the “Company”) activities
and the Company structure, as included in the notes
to the consolidated financial statements, also applies
to the Company financial statements.
In accordance with section 2:362 Part 8 of the Netherlands
Civil Code the Company has prepared its Company
financial statements in accordance with accounting
principles generally accepted in the Netherlands, applying
the accounting policies as adopted in the consolidated
financial statements (IFRS). Investments in subsidiaries
are stated at net asset value as the Company effectively
exercises significant influence over them. For more
information on the accounting policies applied and on the
notes to the consolidated financial statements, please
refer to pages 46 to 50.
The total equity and profit in the Company financial
statements is equal to the consolidated equity.
In accordance with section 402 of Part 9 of Book 2
of the Netherlands Civil Code, a condensed income
statement is included in the financial statements.
2. Investments in subsidiaries
The movements in financial fixed assets were as follows:
Notes Investments
in Group
companies
(in thousands)
Balance as at 31 December 2004
Book value 37,175
Movements 2005
Additions
Cumulative translation adjustment 58
Transfer to stock compensation reserve (6) 8,975
Result participations 142,994
Balance as at 31 December 2005
Book value 189,202
Movements 2006
Additions
Cumulative translation adjustment 379
Transfer to stock compensation reserve (6) 12,540
Result participations 224,171
Balance as at 31 December 2006
Book value 426,292
3. Other income and expense after taxation
The other income and expense consists of the
remuneration of the Management Board and the
Supervisory Board, and interest income on the Company’s
outstanding cash balances. For the remuneration of the
Management Board and Supervisory Board please refer
to note 5 to the consolidated financial statements.
4. Shareholders’ equity
For the statement of changes in consolidated equity
for the year ended 31 December 2006, please refer to
page 45 in the consolidated financial statements.