consolidated profit and loss account
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 show 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.
In view of relative large redemptions on high-interest-bearing loans,
which were received in 1976, a provision of f 3,000,000 was formed
and charged to the result, which provision was included under
payables and transitory items'. In accordance with the average,
remaining currency of the redeemed loans, this amount will be
credited to the result in 6 years.
To supplement the breakdown in the
profit and loss account we give below
the subdivision of the item 'general
expenses':
1976
1975
Salaries and social
security charges
Other costs
Emoluments to supervisory
directors
f 9,983,000
3,203,000
44,000
f 8,999,000
3,060,000
44,000
f 13,230,000
f 12,103,000
28
During the entire financial year the number of supervisory directors was 6;
none of the supervisory directors was unpaid.
