Unilever 2015 Annual Report Download - page 159

Download and view the complete annual report

Please find page 159 of the 2015 Unilever annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 169

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169

21 EXPLANATION OF TRANSITION TO FRS 101 FROM
UK AAP
Ths s the frst year that the ompany has presented ts fnancal
statements under FRS 101 The last fnancal statements were
prepared under UK enerally Accepted Accountng Practce (UK
AAP) for the year ended 31 December 2014 The date of transton
s 1 January 2014 Ths note explans the prncpal adustments
made by the ompany n restatng ts balance sheet as at
1 January 2014 On transton to FRS 101, the ompany has appled
the requrements of paragraphs 6-33 of IFRS 1 ‘Frst tme adopton
of Internatonal Fnancal Reportng Standards’
Reconclaton of equty at 31 December 2014
Notes
UK AAP
 mllon
Effect of
transton
 mllon
FRS 101
 mllon
Assets
Non-current assets
Intangble assets (a) 1,217 57 1,274
Investments n subsdares 29,240 –29,240
Other non-current assets 782 –782
31,239 57 31,296
urrent assets
Trade and other current
recevables 4,462 –4,462
ash and cash equvalents 5 – 5
4,467 –4,467
Total assets 35,706 57 35,763
Labltes
urrent labltes
Trade payables and other
current labltes 26,181 –26,181
Provsons 9 – 9
26,190 –26,190
Non-current labltes
Fnancal labltes 864 –864
Pensons and smlar
oblgatons 117 –117
Provsons 4 – 4
Deferred tax labltes (b) 62 15 77
1,047 15 1,062
Total labltes 27,237 15 27,252
Equty
Shareholders’ equty
alled up share captal 275 –275
Share premum 20 –20
Legal reserves 16 –16
Other reserves (3,325) –(3,325)
Retaned proft (c) 11,483 42 11,525
Shareholders’ equty /
total equty 8,469 42 8,511
Total labltes and equty 35,706 57 35,763
16 PROFIT FOR THE YEAR
 mllon
2015
 mllon
Restated
2014
ompany accounts Unlever NV 2,659 2,230
Unlever roup excludng non-controllng nterest 4,909 5,171
The net proft of Unlever roup of 4,909 mllon (2014
5,171 mllon) ncludes the net proft of parent Unlever NV
2,659 mllon (2014 2,230 mllon) and the net proft of parent
Unlever PL £4,583 mllon (2014 £1,095 mllon) The remanng
dfference arses from the recognton n Unlever NV’s accounts
of nvestments n subsdares at cost less any amounts wrtten
off to reflect a permanent mparment, ntra-group balances
and transactons are not elmnated and other consoldated
procedures are not performed
17 ONTINENT LIABILITIES AND FINANIAL
OMMITMENTS
Unlever NV has ssued ont and several lablty undertakngs,
as defned n Artcle 403 of Book 2 of the vl ode n the
Netherlands, for almost all Dutch group companes These wrtten
undertakngs have been fled wth the offce of the ompany
Regstry n whose area of ursdcton the group company
concerned has ts regstered offce
The total amount of guarantees, s 9,292 mllon (2014
6,833 mllon) Ths conssts manly of ont guarantees wth
Unlever PL and Unlever Unted States, Inc relatng to the
long-term debt and commercal paper ssued by Unlever PL and/
or Unlever aptal orporaton Inc Unlever NV also guarantees
some borrowngs of other group companes and some contngent
consderaton of roup companes relatng to past busness
acqustons Other ont guarantees wth Unlever PL relate to
dervatves taken out by roup companes
Addtonally Unlever NV has guarantees and fnancal
commtments ncludng ndemntes arsng from past busness
dsposals and for certan global servce contracts No value can
be attrbuted to these fnancal commtments at ths tme
The lkelhood of these guarantees, fnancal commtments and
contngences beng called s consdered to be remote and so
accordngly the far value s deemed to be mmateral
18 REMUNERATION OF AUDITORS
For detals of the remuneraton of the audtors please refer to note
25 on page 135
19 DIRETORS’ REMUNERATION
Informaton about the remuneraton of Drectors s gven n the
tables noted as audted n the Drectors’ Remuneraton Report on
pages 66 to 83, ncorporated and repeated here by reference
Informaton on key management compensaton s provded n note
4A to the consoldated group fnancal statements on page 99
20 EMPLOYEE INFORMATION
Durng 2015, the average number of employees employed by
Unlever NV was 16, of whom 15 worked abroad
152 Unilever Annual Report and Accounts 2015Financial statements
NOTES TO THE OMPANY AOUNTS
UNILEVER NVONTINUED