TomTom 2015 Annual Report Download - page 114

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COMPANY FINANCIAL STATEMENTS OF TOMTOM NV
TOMTOM / ANNUAL REPORT AND ACCOUNTS 2015 / 113
NOTES TO THE COMPANY
FINANCIAL STATEMENTS
A. PRESENTATION OF FINANCIAL STATEMENTS AND
RECOGNITION AND MEASUREMENT PRINCIPLES
The description of the activities of TomTom NV (the company) and the company structure, as included in the notes to the consolidated
financial statements, also applies to the company financial statements.
The company has prepared its company financial statements in accordance with Part 9 of Book 2 of the Dutch Civil Code and,
specifically, in accordance with section 362.8 of the Dutch Civil Code. In doing so, it has applied the principles of recognition and
measurement as adopted in the consolidated financial statements (IFRS). Investments in subsidiaries are accounted for using the
equity method. For more information on the accounting policy applied, and on the notes, please refer to the notes to the consolidated
financial statements section.
B. INVESTMENTS IN SUBSIDIARIES
The movements in the 'Investments in subsidiaries' were as follows:
(€ in thousands) 2015 2014
BALANCE AS AT 1 JANUARY 2,936,534 2,873,122
Result of subsidiaries 25,229 46,405
Transfer to stock compensation reserve 2,335 4,126
Legal entity restructuring -5,476 0
Currency translation differences 12,087 13,967
Other direct equity movements 1,766 -1,086
BALANCE AS AT 31 DECEMBER 2,972,475 2,936,534
A list of subsidiaries and affiliated companies prepared in accordance with the relevant legal requirements (the Dutch Civil Code Book
2, Part 9, sections 379 and 414) is deposited at the office of the Chamber of Commerce in Amsterdam, the Netherlands.
C. OTHER INCOME AND EXPENSES AFTER TAX
The employees of the company comprise only the members of the Management Board.
Other income and expenses consist of the remuneration of the Management Board and the Supervisory Board, the interest expense on
the borrowings and the interest income on the company's outstanding cash balances. For the remuneration of the Management Board
and Supervisory Board, please refer to note 33. Remunerations of members of the Management Board and the Supervisory Board of the
consolidated financial statements.
D. DEFERRED TAXATION
As at 31 December 2015, the company had a deferred tax liability of €0.2 million (2014: €0.3 million). The deferred tax liability results
from a temporary difference between the tax treatment and the accounting treatment of the borrowing cost. The movement of the
deferred tax liability has been credited to the income statement.