Unilever 2008 Annual Report Download - page 148

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Unilever Annual Report and Accounts 2008 145
Financial statements
Notes to the company accounts Unilever N.V.
Fixed investments € million € million
2008 2007
Shares in group companies 25 989 24 428
PLC shares held in connection with
share options 256 184
Less NV shares held by group companies – (189)
26 245 24 423
Movements during the year:
1 January 24 423 26 405
PLC shares held in connection
with share options 72 (191)
NV shares held by group companies 189 22
Additions(a) 5 620 4 966
Decreases(a) (4 059) (6 779)
31 December 26 245 24 423
(a) The additions relate to investments in group companies and the
decreases mainly relate to repayments made by the subsidiary
Unilever Finance International B.V.
Debtors € million € million
2008 2007
Loans to group companies 3 688 2 262
Other amounts owed by group companies 1 801 847
Taxation 24 38
Prepayments and accrued income – 12
Other 61 56
5 574 3 215
Of which due after more than one year 2 918 2 250
Cash at bank and in hand
There was no cash at bank and in hand for which payment notice was
required at either 31 December 2008 or 31 December 2007.
Creditors € million € million
2008 2007
Due within one year:
Other amounts owed to group companies 16 030 15 743
Loans from group companies 1 150 1 258
Bonds and other loans 772 –
Taxation and social security 15 16
Accruals and deferred income 88 58
Other 67 88
18 122 17 163
Due after more than one year:
Bonds and other loans 2 961 2 244
Loans from group companies 3 089 –
Accruals and deferred income 33 52
Preference shares(b) 124 124
6 207 2 420
(b) Information on the euro conversion of the preference shares is
given in note 16 to the consolidated accounts on page 105.
Creditors due after five years amount to €1 103 million
(2007: €870 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, 177 223 649
(2007: 122 296 247) €0.16 ordinary shares are held by NV and other
group companies. Further details are given in note 22 to the
consolidated accounts on page 122.
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
2008 2007
1 January (2 437) (1 228)
Change during the year (1 122) (1 209)
31 December (3 559) (2 437)
Other reserves relate to own shares held.
Profit retained € million € million
2008 2007
1 January 10 009 9 755
Profit for the year 1 713 1 406
Ordinary dividends – final 2007 (779) –
Ordinary dividends – interim 2008 (401) –
Ordinary dividends – final 2006 – (775)
Ordinary dividends – interim 2007 – (404)
Taxation charge (11) 3
Fair value adjustments for cash flow hedges – –
Realised profit/(loss) on shares/certificates held
to meet employee share options 14 15
Changes in present value of net pension liability 53 9
Other charges 4–
31 December 10 602 10 009
As shown in note 24 on page 124, the total profit retained of NV
amounts to €15 343 million (2007: €10 403 million). This is made up
of the Parent Unilever N.V. €10 602 million (2007: €10 009 million),
other NV group companies €4 732 million (2007: €345 million) and
joint ventures and associates €9 million (2007: €49 million).
Provisions for liabilities and charges (excluding pensions
and similar obligations)
€ million € million
2008 2007
Preference shares provision –3
Deferred taxation and other provisions 59 37
59 40
Of which due within one year 59 40
Net pension liability
€ million € million
2008 2007
Funded retirement benefit (12) –
Unfunded retirement liability 96 134
84 134
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 2008 was some
€6 050 million (2007: €5 204 million) of which €4 420 million
(2007: €3 706 million) was also guaranteed by PLC. The fair value
of such guarantees was not significant in either 2007 or 2008.
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.