Ubisoft 2012 Annual Report Download - page 88

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Financial Statements
2012
83
March 2012: Merger of Ubisoft Holdings Inc. and Ubisoft Inc.
This operation did not have any impact on the consolidated financial statements.
March 2012: Merger of Ubisoft GmbH and Sunflowers Interactive Entertainment GmbH
This operation did not have any impact on the consolidated financial statements.
March 2012: Merger of Ubisoft Digital Arts Inc., Ubisoft Vancouver Inc. and Ubisoft
Entertainment Inc.
This operation did not have any impact on the consolidated financial statements.
Financial year 2011/2012: Legal reorganization of the French subsidiaries
The legal reorganization of the Ubisoft Group resulted in mergers and partial contributions of assets to
the French companies. Thirty companies have been deconsolidated. These operations did not have
any impact on the consolidated financial statements.
Opening of subsidiaries:
– December 2011: Creation of the subsidiary Ubisoft Motion Pictures Rabbids SAS in France.
– December 2011: Creation of the subsidiary Ubisoft Emirates FZ LLC in the United Arab
Emirates, in partnership with Twofour54, the Media Zone Authority of Abu Dhabi.
– March 2012: Creation of the subsidiary Ubisoft Motion Pictures Assassin’s Creed SAS and
Ubisoft Motion Pictures Splinter Cell SAS in France.
– March 2012: Creation of the subsidiary Ubisoft Music Publishing Inc. in Canada.
1.6.4 DECLARATION OF CONFORMITY
The consolidated financial statements for the year ended March 31, 2012 have been prepared in
accordance with the International Financial Reporting Standards (IFRS) applicable at March 31, 2012,
as adopted by the European Union.
Only those standards approved by the European Commission and published in its official journal prior
to March 31, 2012, and which have been mandatory since April 1, 2011, have been applied by the
Group to its consolidated financial statements for the year ended March 31, 2012. No standard or
interpretation whose application does not become mandatory until after March 31, 2012 has been
applied early to the consolidated financial statements for the year ended March 31, 2012.
The IFRS standards as adopted by the European Union differ in certain ways from the IFRS standards
published by the IASB. However, the Group has made sure that the financial information presented
would not have been substantively different if it had applied the IFRS standards as published by the
IASB.
The following IFRS standards, amendments and interpretations applied for the first time had no impact
on the financial statements:
- IAS 24 (revised) – Related Party Disclosures;
- IFRS 1 (amended) – Limited Exemption from Comparative IFRS 7 Disclosures for First-time
Adopters;
- IFRIC 19 – Extinguishing Financial Liabilities with Equity Instruments;
- IFRIC 14 (amended) – Prepayments of a Minimum Funding Requirement;
- IAS 32 (amended) – Classification of Rights Issues;
- Annual improvements to IFRSs.
Options used when preparing financial information during the transition to IFRS
In accordance with the provisions of IFRS 1, the Group chose to use the following exemptions from
the general principle of retrospectively applying the following IFRSs when drawing up its opening
balance sheet for 2004 and preparing its first IFRS accounts.