ANNUAL REPORT 2011 REGISTRATION DOCUMENT - Saft

7
PARENT COMPANY CERTIFIED FINANCIAL STATEMENTS
Notes to the Parent Company Financial Statements
NOTE 1 INFORMATION RELATIVE TO THE COMPANY
Saft Groupe SA was created in March 2005 by a group of
investment funds managed by Doughty Hanson & Co Limited
(the “Doughty Hanson Funds”). Its purpose was to group,
under the control of a French company, the various operating
subsidiaries of the Saft Group directly or indirectly acquired by
Saft France Sarl, a Luxembourg company created as part of
the purchase by the Doughty Hanson Funds in January 2004
of Alcatel Group’s battery activities.
The fi nancial year ran from January 1 to December 31.
Consolidating entity:
NOTE 2 SUMMARY OF ACCOUNTING POLICIES
The annual accounts are drawn up in accordance with the
rules laid out in the 1999 chart of accounts and the French
Commercial Code, as well as with French generally accepted
accounting principles. The fundamental accounting policies
were applied in accordance with the prudence principle, and
the following basic assumptions:
� on-going business;
� consistent accounting methods from one year to another;
� independence of fi nancial years;
� and, in accordance with the general rules for drawing up
and presenting annual fi nancial statements.
The basic method adopted for evaluating the items recorded in
the books is the historical cost method.
The principal methods used are as follows:
a) Shareholdings, other investments
Shareholdings and other investments are entered at their cost
of purchase plus miscellaneous expenses. When the inventory
value is lower than the book value, a depreciation provision is
entered to account for the difference.
The inventory value of the shares corresponds to their market
value for the Company. It is determined according to the net
asset value of the Company under consideration, its return on
investment and its future prospects.
NOTE 3 LONG-TERM FINANCIAL ASSETS
Saft Groupe SA, whose registered offi ce is 12, rue Sadi Carnot,
93170 Bagnolet, France is the Group’s parent company
consolidating the Saft Group’s entities.
b) Marketable securities
Marketable securities constitute short-term investments of cash in
the form of money market funds with a daily liquidity.
c) Accounts receivables
Receivables are valued at their nominal value. An impairment
provision is entered when the inventory value is lower then the
book value.
d) Debts
Debts are reported as liabilities at their nominal value.
e) Basis of conversion for items expressed in foreign
currencies
Where applicable, items expressed in foreign currencies are
recorded for their exchange-value on the date of the transaction.
Receivables, cash, cash equivalents and liabilities in foreign
currencies are shown in the balance sheet at the year-end
exchange rates. The difference resulting from updating
receivables and liabilities in foreign currencies at their yearend
value is disclosed on the balance sheet as unrealised
translation gains or losses. Unrealised losses on foreign currency
translation are subject to a provision for contingencies.
01/01/2011 Acquisitions Sales 31/12/2011
Shares in subsidiaries and associates 308,955 - - 308,955
Loans and other fi nancial fi xed assets 1 - - 1
TOTAL 308,956 - - 308,956
Saft Groupe SA only holds a 100% shareholding in Saft
Finance Sarl for an amount of €308,955,256. Saft Finance
Sarl net equity as of 31 December 2011 was €179.3 million
and its net income for the 2011 fi nancial year was a profi t of
€20.6 million.
The Saft Group subsidiaries indirectly held by Saft Groupe SA
are listed in section 5.14 of this Annual Report.
SAFT - ANNUAL REPORT 2011 / 187