Unilever 2004 Annual Report Download - page 173

170 Unilever Annual Report and Accounts 2004
Notes to the company accounts
Unilever N.V.
Fixed investments € million € million
2004 2003
Shares in group companies 11 024 11 008
Book value of PLC shares held in
connection with share options 445 381
Less NV shares held by group companies (236) (228)
11 233 11 161
Movements during the year:
1 January 11 161
Movement in PLC shares held in connection
with share options 64
Movement in NV shares held by group companies (8)
Additions 16
31 December 11 233
Shares in group companies are stated at cost in accordance with
international accounting practice in various countries, in particular
the United Kingdom. In accordance with Article 385.5 of the Civil
Code in the Netherlands, Unilever N.V. shares held by Unilever
N.V. subsidiaries are deducted from the carrying value of those
subsidiaries.
Debtors € million € million
2004 2003
Loans to group companies 14 056 17 088
Other amounts owed by group companies 3 707 2 531
Amounts owed by undertakings in which
the company has a participating interest 15 –
Other 120 215
17 898 19 834
Of which due after more than one year 710 819
Cash at bank and in hand € million € million
2004 2003
This includes amounts for which repayment
notice is required of: 80 43
Creditors € million € million
2004 2003
Due within one year:
Bank loans and overdrafts 17
Bonds and other loans 2 148 5 209
Loans from group companies 310 311
Other amounts owed to group companies 14 133 13 276
Taxation and social security 22 76
Accruals and deferred income 173 232
Dividends 700 642
Other 512
17 492 19 765
Due after more than one year:
Accruals and deferred income 41 88
Bonds and other loans 2 844 3 393
In accordance with the UK Companies Act 1985 the Group presents
the final dividend which is proposed after the balance sheet date as
a creditor. There are no creditors due after more than five years.
Provisions for liabilities and charges (excluding pensions
and similar obligations)
€ million € million
2004 2003
Deferred taxation and other provisions 102 156
Of which due within one year 55 68
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, 24 898 145
€0.51 ordinary shares are held by NV and other group companies.
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 the
Netherlands tax law, as a result of which dividends received from
2001 onwards by individual shareholders who are Netherlands
residents are no longer taxed.
Other reserves € million € million
2004 2003
1 January (1 243) (1 041)
Change in book value of shares or certificates
held in connection with share options (136) (202)
31 December (1 379) (1 243)
Profit retained € million € million
2004 2003
Profit retained at 31 December 8 339 7 304
Profit retained shown in the company accounts and the notes thereto
is greater than the amount shown in the consolidated balance sheet,
mainly because of certain intercompany transactions which are
eliminated in the consolidated accounts.
€ million
2004
Difference as at 1 January 2004 469
Changes in equity value of the
consolidated participants (1 766)
Changes in the accumulated
intercompany results 2 358
Difference as at 31 December 2004 1 061
Contingent liabilities € million € million
2004 2003
Guarantees given for group companies 6 822 6 278
Of which also guaranteed by PLC 5 010 4 946
Other contingent liabilities are not expected to give rise to material loss.
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.