Annual Report 2010 - CMVM

Financial Statements 2010NOTESAs at 31 December 20101. Introductory Note:Corporate Name: Teixeira Duarte, S.A. ("Company")Head Office: “Lagoas Park”, Edifício 2, Porto Salvo, OeirasNIPC: 509234526Date of Constitution: 30 November 2009Core activity and other relevant activities: implementation and management of investments, the coordination and supervision of other companies integrated in or related to its corporategroup, operating essentially in the areas of strategic and organisational planning, as well as the provision of administrative, management, consultancy, operational assistance orsupport in terms of human resources, technical and financial services to participated companies or entities with which contracts have been signed for that effect.The attached financial statements refer to the Company on an individual basis, with financial investments having been recorded through the equity method, as mentioned in note 3.1a) below.The Company will prepare and present the consolidated financial statements separately, comprising the financial statements of the companies where the former controls the management.All the values of these notes are expressed in thousand Euros2. Accounting Standard for the Preparation of the Financial Statements2.1. The attached financial statements were prepared in conformity with the Accounting and Financial Reporting Standards (NCRF), established in the new accounting standarddesignated the Accounting Standardisation System (SNC), approved by Decree-Law number 158/2009, of 13 July.2.2. None of the provisions of the Accounting Standardisation System (SNC) were derogated since it is necessary for the financial statements to give a real and appropriate image of theassets, liabilities and net income of the entity.2.3. The financial information relative to the year ended on 31 December 2009, the last year of adoption of the Portuguese Official Audit Plan (POC), and transition period for the effectof the first adoption of the Accounting and Financial Reporting Standards (NCRF), was constructed in compliance with NCRF 3 – First-time adoption of the NCRF, having involved,before the adjustments disclosed in the present notes, reclassifications of all the headings of the balance sheet, income statement by nature and cash flow statement, redistributingthe respective monetary sums from the previous classifications in accordance with the encoding of the POC accounts, to the encoding of the accounts established in the SNC and in therespective financial statement models.2.4. First-time adoption of the NCRFThe effect of the transition to the SNC in the period ended on 31 December 2009 was as follows:a) Reconciliation of the equity reported in accordance with the previous Generally Accepted Accounting Principles (PCGA) with the equity following the NCRF, between the date oftransition to the NCRF and the end of the last period presented in the most recent annual financial statements, prepared according to the previous PCGA:Equity as at 31/12/2009 (POC) 299,114Adjustment in the equity method (11,233)Equity as at 31/12/2009 (SNC) 287,881b) Reconciliation of the net income reported in accordance with the previous Generally Accepted Accounting Principles (PCGA), relative to the last period of the most recent annualfinancial statements, with the net income following the NCRF relative to the same period:Net Income as at 31/12/2009 (POC) 6,955Adjustment in the equity method (6,167)Net Income as at 31/12/2009 (SNC) 788134