2007 - April
2007 - April
2007 - April
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3.0<br />
Notes to the statutory financial statements of APRIL GROUP SA for the year ended December 31 st , <strong>2007</strong><br />
The accounting standards have been applied in accordance<br />
with the principle of conservatism, in line with the following<br />
basic assumptions, which seek to provide a faithful image of<br />
the Company:<br />
Continued operations,<br />
Unchanged accounting methods from one financial year to<br />
the next,<br />
Independent financial years.<br />
The basic method used for valuing items booked in the<br />
accounts is the historical cost method.<br />
1.1. Intangible fixed assets<br />
The APRIL brand has been amortized in full. Software is<br />
valued at its acquisition price.<br />
Amortization charges are calculated on a straight-line basis<br />
depending on the actual useful life, ranging from one to<br />
three years.<br />
1.2. Tangible fixed assets<br />
Tangible fixed assets are valued on an acquisition price basis.<br />
Amortization charges are calculated on a straight-line basis<br />
depending on the actual useful life, in line with the following<br />
general periods:<br />
General installations and fittings<br />
8 years<br />
Transport equipment<br />
5 years<br />
Office equipment<br />
5 years<br />
IT equipment<br />
3 years<br />
Furnishings<br />
5 years<br />
In accordance with the provisions of CRC regulation 2002-10<br />
relative to the amortization and depreciation of assets, any<br />
signs of impairment in value are looked for at the close of<br />
accounts and when drawing up interim statements.<br />
As relevant, a depreciation charge may be valued and<br />
recorded.<br />
1.3. Equity securities<br />
Equity securities are booked gross at their acquisition price,<br />
including any related acquisition costs, which are recorded<br />
as liabilities.<br />
Equity interests are valued based on their going value:<br />
The going value of securities is calculated in line with a<br />
method based notably on the discounted future cash-flow<br />
and net asset value, as per the medium-term plans;<br />
The going value of other equity securities is determined<br />
based on the net asset value;<br />
When the going value is below the book value, a provision<br />
for impairment is recorded for the difference.<br />
1.4. Loans and payables<br />
Loans and payables are valued at their par value. A provision<br />
for impairment is recorded when the recoverable value is less<br />
than the book value.<br />
1.5. Marketable securities<br />
Marketable securities are booked at their acquisition cost.<br />
Treasury stock acquired under the liquidity agreement are<br />
valued at the closing price on the last day’s trading for the<br />
year.<br />
Other marketable securities are valued at their last known<br />
stock price or at the last net asset value for UCITS.<br />
A provision is booked when the inventory value is lower than<br />
the book value.<br />
1.6. Provisions for contingencies and losses<br />
Provisions for contingencies and losses comprise commitments<br />
on which the due date or amount is uncertain and<br />
results from commercial, industrial tribunal or other risks.<br />
Each known dispute in which APRIL GROUP SA is involved is<br />
examined at the close of accounts by the Board of Directors,<br />
further to recommendations from external advisors if<br />
relevant, with the provisions deemed necessary recorded to<br />
cover the estimated risks.<br />
156<br />
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