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KD Holding Group
Notes to Consolidated Financial Statements as at and for the year ended 31 December 2007
Notes to the Consolidated Financial Statements
1. General information
liabilities at fair value through profit or loss and
available for sale financial assets.
The principal activities of KD Holding d. d. (‘‘the
Company’’) and its subsidiaries (‘‘the Group’’) are
quite diversified, namely, from insurance to asset
management financial services, cinematography and
many others (tourism, publishing, etc.).
The preparation of consolidated financial statements in
conformity with the IFRS as adopted by the European
Union requires the use of certain critical accounting
estimates. It also requires management to exercise
its judgement in the process of applying the Group’s
KD Holding d.d. is a public limited company with its
registered office in Ljubljana, Celovška 206, Slovenia.
Its shares are listed on the OTC market of the Ljubljana
Stock Exchange. The Company’s ultimate parent entity
is KD Group d.d., with its registered office in Ljubljana,
Celovška 206, Slovenia.
accounting policies. The areas involving a higher degree
of judgement or complexity, or areas where assumptions
and estimates are significant to the consolidated
financial statements are disclosed in Note 3.
a) Amendments and interpretations to published
standards effective in 2007
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These consolidated financial statements have been
approved for issue by the Chief Executive Officer on
23 May 2008 and can be obtained at the Company’s
registered office in Ljubljana, Celovška 206, Slovenia.
2. Summary of Significant Accounting Policies
2.1 Basis for the preparation of financial statements
According to Regulation (EC) No 1606/2002 of the
European Parliament and of the Council of 19 July
2002 on the application of International Accounting
Standards, the consolidated financial statements
of the Group are prepared in accordance with the
International Financial Reporting Standards (IFRS)
as adopted by the European Union.
The consolidated financial statements have been
prepared under the historical cost convention as
modified by the revaluation for financial assets and
Amendments and interpretations to published
standards effective in 2007 which are presented
below do not have a material impact on the financial
statements of the Group:
- IFRIC 7, Applying the Restatement Approach
under IAS 29 - Financial Reporting in
Hyperinflationary Economies (effective from
periods beginning on or after 1 March 2006).
None of the companies in the Group operates in a
hyperinflationary economy.
- IFRIC 8, Scope of IFRS 2 (effective from periods
beginning on or after 1 May 2006). The
interpretation applies to transactions in which
unidentifiable goods and services are received in a
share-based payment transaction. The Group has
no such trasactions.
- IFRIC 9, Reassessment of Embedded Derivatives
(effective from periods beginning on or after 1 June