Torp Computing Group ASA

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INFORMATION MEMORANDUM
Merger of Komplett ASA and Torp Computing Group ASA
6.19.5 Summary of Accounting Policies
The consolidated accounts of Komplett for 2006 were approved by the Annual General Meeting 27.
March 2007.
Komplett ASA is a public limited company, registered in Norway and listed on the Oslo Stock
Exchange. The company’s head office is located at Østre Kullerød 4, 3241 Sandefjord, Norway.
The following is a description of the most important accounting policies applied to the consolidated
financial statements. Unless otherwise specified, these policies are applied uniformly to all the
interim periods presented.
The consolidated financial statements have been drawn up in compliance with applicable
International Financial Reporting Standards (IFRS) as practised in the EU at 31 December 2006.
The consolidated financial statements apply the policies of historical cost accounting. Komplett has
not applied the following standards and amendments to standards as they are not effective at 31
December 2006:
New standards
• IFRS 7 Financial Instruments Disclosure
• IFRS 8 Operating Segments
Amendments
• IAS 1 Amendments to IAS 1 Presentation of Financial Statements Capital Disclosure the
consolidated financial statements were presented by the Board on 15 February 2007.
Basis of consolidation
The consolidated financial statements include Komplett ASA and companies in which Komplett ASA
has a controlling interest. Controlling interest is usually achieved when the Group owns more than
50% of the shares in the company and the Group is able to exert genuine influence on the
company.
The consolidated financial statements for 2006 encompass:
• Komplett ASA (Parent company)
Active subsidiaries (fully-owned)
• Komplett AS (Norway)
• Komplett Data Sverige AB (Sweden)
• Komplett BV (The Netherlands)
Dormant subsidiaries (fully-owned)
• Komplett Data Arendal AS (Norway)
• Norkom AS (Norway)
• Komplett Data UK Ltd (United Kingdom)
• Komplett Data A/S (Denmark)