explanatory notes
Receivables on account of active financing as well as debts on
account of passive financing are valued at their nominal amounts.
To cover the general risks on account of lending, a provision as
referred to in article 23 of the Annual Accounts and Enterprises Act
was formed, figuring under 'Payables and Transitory Items'.
In the calculation of the results, the interest gains and charges just
like the other gains and charges, are accounted for in the year to
which they relate.
The incidental gains (one time commission charged etc.) and costs
(one time commission paid etc.) attendant upon active and passive
financing, are accounted for in the profit and loss account of the
year in which the money is invested or raised.
The company income tax figuring in the profit and loss account
has been calculated on the balance of this account with due
observance of the components of profit exempted.
The bases of valuation and fixation of profits and losses for the
annual accounts of Friesch-Groningsche Hypotheekbank n.v. are
equal to those applied to the consolidated annual accounts. The
explanatory notes below only contain the figures of the
consolidated annual accounts.
For the names and registered offices of the majority participations,
reference is made to the list deposited at the Register of Business
Names in Amsterdam.
To supplement the breakdown in the profit and loss account, this is
the sub-division of the item 'general expenses':
Salaries and social
security charges
Other costs
Emoluments to
supervisory directors
1975
8.999.000
3.060.000
44,000
12,103,000
1974
7.630.000
2.371.000
44,000
10,045,000
During the entire financial year, the number of supervisory directors was 6-
none of the supervisory directors was unpaid.
general
consolidated profit and loss account