Explanatory notes
f 7,630,000
f 6,310,000
f 10,045,000
f 8,322,000
General principles of
accounting and valuation
Receivables on account of the active
financing as well as debts on account of
the passive financing are valued at their
nominal amounts. In order to cover
general risks on account of lendings,
a provision as referred to in article 23 of
the Annual Accounts and Enterprises Act,
was formed which has been included
under ‘Creditors and transitional items’.
For the calculation of the results, the
interest profits and losses, just like the
other profits and losses, are accounted for
in the year to which they relate.
The non-recurring profits (commission
charged etc.) and costs (commission paid
etc.) involved in the active and passive
financing, are accounted for in the profit
and loss account of the year in which the
money is invested respectively taken up.
The corporation income tax included in
the profit and loss account is calculated on
the balance of this account, thereby taking
into account the exempted components of
the profit.
The basis of valuation and determination
of the results for the annual accounts of
the Friesch-Groningsche Hypotheekbank
N.V. is identical to that for the
consolidated annual accounts. The
explanatory notes below only relate to
the figures of the consolidated annual
accounts.
For the names and registered offices of
the majority interests, we refer to the
list lodged with the Register of Business
Names at Amsterdam.
Consolidated profit and loss Here follows the subdivision of the item
account ‘general expenses’, to supplement the
breakdown in the profit and loss account:
Salaries and social security charges
Other costs
Emoluments to supervisory directors
19741
1973
2,371,000
1,968,000
4A,000
44,000
The number of supervisory directors was
during the entire financial year 6; none of
the supervisory directors was unpaid.
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