Hornbach-Baumarkt-AG Group

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98 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Explanatory notes on the principles and methods applied in the consolidated financial statements Consolidation principles The annual financial statements of the companies included in the consolidated financial statements are based on uniform recognition and measurement principles. The separate financial statements of the companies included in the consolidated financial statements have been prepared as of the balance sheet date for the consolidated financial statements. In the case of acquisitions based on contracts concluded prior to March 31, 2004, the capital consolidation was based on the purchase method by offsetting the relevant acquisition costs of the investment against the reassessed prorated shareholders’ equity on the date of acquisition of the subsidiary. Any remaining debit differences were capitalized as goodwill following allocation of hidden reserves and hidden burdens and were subject to straight-line amortization in line with their anticipated useful lives up to the end of the 2004/2005 financial year, with a corresponding charge to operations. There were no remaining credit differences at the end of the 2004/2005 financial year. In the case of acquisitions based on contracts concluded subsequent to March 31, 2004, application is made of IFRS 3 "Business Combinations", IAS 36 (2004 revision) "Impairment of Assets" and IAS 38 (2004 revision) "Intangible Assets". The capital consolidation of these acquisitions is thus based on the purchase method. Any resultant goodwill and the residual carrying amount as of March 1, 2005 of goodwill resulting from acquisitions undertaken prior to March 31, 2004 are not subject to scheduled amortization but are rather tested for impairment at least once a year pursuant to IAS 36. Intercompany profits relating to non-current assets and inventories are eliminated by means of a charge to operations. Intercompany income and expenses and receivables and liabilities between the consolidated companies have been offset against each other:
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Explanatory notes on the principles and methods applied in the consolidated financial statements 99 Scope of consolidation In addition to HORNBACH-Baumarkt-AG, the consolidated financial statements include 9 domestic and 25 foreign subsidiaries by way of full consolidation. As the sole shareholder in HORNBACH International GmbH, HORNBACH-Baumarkt-AG holds, either directly or indirectly, 100% of the voting rights in the consolidated subsidiaries. As in the previous year, all direct and indirect subsidiaries of HORNBACH-Baumarkt-AG have been included in the consolidated financial statements for the 2012/2013 financial year. The real estate company HORNBACH Real Estate Best B.V., Nieuwegein, Netherlands, was included in the consolidated financial statements of HORNBACH-Baumarkt-AG for the first time in the 2012/2013 financial year. The development in the scope of consolidation was as follows: 2012/2013 2011/2012 March 1 34 32 Companies consolidated for the first time 1 2 February 28/29 35 34 The changes in the scope of consolidation had no material implications for the income statement. The changes in the scope of consolidation in the current 2012/2013 financial year resulted in the following aggregate changes in individual asset and liability items. € 000s Additions 2012/2013 Additions 2011/2012 Property, plant, and equipment 566 7,952 Other assets 1 847 Non-current liabilities 0 621 Current liabilities 551 4,395
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Hornbach-Baumarkt-AG Group Annual R
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Key Group, Financial and Operating
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Time and Space Those are the dimens
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COMPANY PROFILE 7 Germany. The net
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10 TO OUR SHAREHOLDERS TO OUR SHARE
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12 REPORT OF THE SUPERVISORY BOARD
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14 REPORT OF THE SUPERVISORY BOARD
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16 DIRECTORS & OFFICERS DIRECTORS &
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The timesavers Got the internal fit
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CORPORATE GOVERNANCE 21 of its Boar
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CORPORATE GOVERNANCE 23 worked with
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CORPORATE GOVERNANCE 25 Dates of re
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CORPORATE GOVERNANCE 27 to a member
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30 THE HORNBACH-BAUMARKT SHARE THE
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32 THE HORNBACH-BAUMARKT SHARE Key
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The workhorses There’s one area o
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GROUP MANAGEMENT REPORT Macroeconom
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GROUP MANAGEMENT REPORT Macroeconom
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GROUP MANAGEMENT REPORT Sales Perfo
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GROUP MANAGEMENT REPORT Sales Perfo
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GROUP MANAGEMENT REPORT Earnings Pe
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NOTES TO THE CONSOLIDATED FINANCIAL
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AUDITOR’S REPORT 159 AUDITOR’S
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Germany Baden-Württemberg Binzen E
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Hornbach-Baumarkt-AG Group

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