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1. Summary of significant accounting policies
The parent company financial statements have been
prepared in accordance with Section 362.8 of Title 9, Book 2
of the Netherlands Civil Code, as generally accepted in the
Netherlands. The accounting policies used in the financial
statements are similar to the accounting policies used in
the Consolidated Financial Statements, with the exception
of financial fixed assets. Subsidiaries are valued at their
net equity value, including allocated goodwill.
2. Property, plant and equipment
Cost
140 Parent Company Financial Statements
For a listing of all subsidiaries included in the
consolidated financial statements of the Company, please
refer to note 1 in the consolidated financial statements.
As of December 31, 2010, the statement of financial
position has been converted to USD from Euros using a
conversion rate of EUR:USD of 1.3253. (2009: 1.4333)
Leasehold
improvements
Machinery and
equipment Office furniture Total
Balance at January 1, 2009 599 91 – 690
Additions – – 251 251
Balance at December 31, 2009 599 91 251 941
Balance January 1, 2010 599 91 251 941
Additions – – 155 155
Balance at December 31, 2010 599 91 406 1,096
Depreciation
Balance at January 1, 2009 (54) (20) – (74)
Depreciation (116) – (16) (132)
Balance at December 31, 2009 (170) (20) (16) (206)
Balance at January 1, 2010 (170) (20) (16) (206)
Depreciation (119) (62) (32) (213)
Balance at December 31, 2010
Carrying amounts
(289) (82) (48) (419)
At January 1, 2009 545 71 – 616
At December 31, 2009 429 71 235 735
At January 1, 2010 429 71 235 735
At December 31, 2010 310 9 358 677