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130 Unilever Annual Report and Accounts 2007
Financial statements continued
Notes to the company accounts Unilever N.V.
Fixed investments € million € million
2007 2006
Shares in group companies 24 428 26 241
PLC shares held in connection with
share options 184 375
Less NV shares held by group companies (189) (211)
24 423 26 405
Movements during the year:
1 January 26 405 11 276
PLC shares held in connection
with share options (191) (57)
NV shares held by group companies 22 27
Additions(a) 4 966 15 342
Decreases (6 779) (183)
31 December 24 423 26 405
(a) In 2006 Unilever decided to transfer its group financing activities
into a separate financing entity, Unilever Finance International B.V.,
a 100% subsidiary of NV based in the Netherlands. The transfer
was executed as a contribution in kind on issued shares.
Debtors € million € million
2007 2006
Loans to group companies 2 262 3 269
Other amounts owed by group companies 847 2 288
Amounts owed by undertakings in which
the company has a participating interest –43
Taxation 38 –
Prepayments and accrued income 12 335
Other 56 72
3 215 6 007
Of which due after more than one year 2 250 2 312
Cash at bank and in hand
At 31 December 2007 there is no cash at bank and in hand for which
payment notice is required (2006: nil).
Creditors € million € million
2007 2006
Due within one year:
Other amounts owed to group companies 15 743 17 244
Loans from group companies 1 258 1 248
Bonds and other loans –1 503
Taxation and social security 16 48
Accruals and deferred income 58 400
Other 88 203
17 163 20 646
Due after more than one year:
Bonds and other loans 2 244 746
Loans from group companies –1 521
Accruals and deferred income 52 60
Preference shares(a) 124 124
2 420 2 451
(a) Information on the euro conversion of the preference shares is
given in note 16 to the consolidated accounts on page 94.
Creditors due after five years amount to €870 million
(2006: €1 630 million) (Article 375.2 of Book 2 of the Civil Code in
the Netherlands).
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, 122 296 247
(2006: 72 484 322) €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
2007 2006
1 January (1 228) (1 321)
Change in own shares held (1 209) 93
31 December (2 437) (1 228)
Profit retained € million € million
2007 2006
1 January 9 755 9 463
Profit for the year 1 406 1 847
Ordinary dividends – final 2005 –(729)
Ordinary dividends – interim 2006 –(382)
One-off dividend 2006 –(432)
Ordinary dividends – final 2006 (775) –
Ordinary dividends – interim 2007 (404) –
Taxation charge 3–
Fair value adjustments for cash flow hedges –(4)
Realised profit/(loss) on shares/certificates held
to meet employee share options 15 (6)
Changes in present value of net pension liability 9(2)
31 December 10 009 9 755
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
2007 2006
Difference as at 1 January 1 351 742
Changes in equity of consolidated participations (3 305) (1 667)
Changes in accumulated intercompany results 1 560 2 276
Difference as at 31 December (394) 1 351
Provisions for liabilities and charges (excluding pensions
and similar obligations)
€ million € million
2007 2006
Preference shares provision 3300
Deferred taxation and other provisions 37 36
40 336
Of which due within one year 40 332
Contingent liabilities
Contingent liabilities are not 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 2007 was some
€5 204 million (2006: €4 635 million) of which €3 706 million
(2006: €3 203 million) was also guaranteed by PLC. The fair value
of such guarantees was not significant in either 2006 or 2007. The
guarantees issued to other companies were immaterial.
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.