Explanatory notes
General
Participations are valued at intrinsic value. In agreement with this the
consolidated profit and loss account shows the results obtained by
participations, as well as the amounts retained in these participations.
Receivables on account of active financing as well as debts on account
of passive financing are valued at nominal value.
To cover the general risks involved in lending a provision as referred
to in Section 329 of Volume 2 Civil Code was formed figuring under
'Payables and transitory items'.
Securities are valued at purchase price or lower market value.
In calculating the results the interest gains and charges as well as 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 determination of profits and losses for the
annual accounts of the Friesch-Groningsche Hypotheekbank nv 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 seats of the majority participations
reference is made to the list filed with the Register of Business Names
in Amsterdam.
Consolidated profit and loss account
Specification General expenses
1979
1978
Salaries and social security
charges
20.608.000
18.369.000
Other costs
5.997.000
5.248.000
Emoluments to supervisory
directors
44.000
44.000
26.649.000 23.661.000
Specification of sundry gains and charges
Sundry gains 1.302.000
Sundry charges 950.000
352.000
During the entire financial year the number
of supervisory directors was six;
none of the supervisory directors was unpaid.
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