Philips 2015 Annual Report Download - page 171
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Company nancial statements 13
Annual Report 2015 171
13 Company nancial
statements
Introduction
Statutory nancial statements
The sections Group nancial statements and Company
nancial statements contain the statutory nancial
statements of Koninklijke Philips N.V. (the Company).
A description of the Company’s activities and group
structure is included in the Consolidated Financial
Statements.
Accounting policies applied
The nancial statements of the Company included in
this section are prepared in accordance with Part 9 of
Book 2 of the Dutch Civil Code. Section 362 (8), Book 2,
Dutch Civil Code, allows companies that apply IFRS as
endorsed by the European Union in their consolidated
nancial statements to use the same measurement
principles in their company nancial statements. The
Company has prepared these Company nancial
statements using this provision.
The accounting policies are described in note 1,
Signicant accounting policies.
Investments in group companies are accounted for
using the equity method in these Company nancial
statements.
Presentation of Company nancial statements
The structure of the Company balance sheets is aligned
with the Consolidated balance sheets in order to
achieve optimal transparency between the Group
nancial statements and the Company nancial
statements. Consequently, the presentation of the
Company balance sheets deviates from Dutch
regulations.
The Company balance sheet has been prepared before
the appropriation of result.
The Company statement of income has been prepared
in accordance with Section 2:402 of the Dutch Civil
Code, which allows a simplied Statement of income in
the Company nancial statements in the event that a
comprehensive Statement of income is included in the
consolidated Group nancial statements.
Additional information
For ‘Additional information’ within the meaning of
Section 2:392 of the Dutch Civil Code, please refer to
section 13.5, Independent auditor’s report, of this
Annual Report, and section 5.4, Proposed distribution
to shareholders, of this Annual Report.
Adjustments
The presentation of certain prior-year disclosures have
been adjusted to align with the current year disclosures.