IC Companys – Annual Report 2008/09 0 - IC Companys A/S

Notes to the financial statements
1. Accounting policies
The Annual Report of the Parent Company forms an integral part of the “Annual Report 2008/09” of IC Companys
A/S. The Parent Company’s financial statements for the year ended 30 June 2009 are presented in accordance
with IFRS. The accounting policies for the Parent Company remain unchanged compared to last year.
The accounting policies for the Parent Company are the same as for the Group with the exception of the items
below see note 1 to the consolidated financial statements.
Other operating income
Other operating income comprises management fees from subsidiaries to the Parent Company for their share of
the Group’s overheads.
Dividend on investments in subsidiary undertakings in the Parent Company Annual Report
Dividend on investments in subsidiary undertakings is recognised in the Parent Company’s income statement in
the financial year in which the dividend is declared. However, to the extent that the dividend distributed exceeds
accumulated earnings after the acquisition date dividend is recognised as a reduction of the cost of the investment
rather than being recognised in the income statement.
Investments in subsidiary undertakings in the Parent Company Annual Report
Investments in subsidiary undertakings are measured at cost. Where the recoverable amount is lower than cost,
the investments are written down to such lower value.
Cost is reduced to the extent that distributed dividend exceeds the accumulated earnings after the acquisition
date.
Receivables from subsidiary undertakings in the Parent Company Annual Report
Receivables from subsidiary undertakings in the Parent Company Annual Report are, on initial recognition, measured
at fair value and subsequently at amortised cost, which usually corresponds to the nominal value less provision
for bad debts
2. Accounting estimates and judgements
See note 2 to the consolidated financial statements.
3. Revenue
Parent Company
DKK million 2008/09 2007/08
Sale of goods, own brands 1,549.0 1,694.9
Licence fee 1.1 0.8
Total 1,550.1 1,695.7
IC Companys – Årsrapport 2008/09
79