AEG 21604 G Manual de usuario descargar pdf (Pagina 503)

F-262

Notes to the 2009 Financial Statements

Special-purpose financial statements and reporting entity

These are special-purpose financial statements of AEG Power Solutions B.V. prepared in order to present a cash

flow statement. A cash flow statement was not included in the Company’s published financial statements for the

year to 31 December 2009 as the Company adopted the exemption allowed to subsidiaries whose ultimate parent

includes a consolidated cash flow statement. These financial statements are the same as the Company’s pub-

lished statements except that the Directors’ report has been omitted, a cash flow statement has been added

and

subsequent events updated. AEG Power Solutions B.V. is domiciled in the Netherlands. The address of the Com-

pany’s registered office is Weerenweg 29, 1161 AH Zwanenburg, the Netherlands and its legal seat is in Am-

sterdam.

The Company is engaged in the design, development, manufacture, marketing, sale and distribution of AC and

DC power systems, converters, power modules, battery chargers, uninterruptible power systems (UPS), power

controllers and power conversion products. There are manufacturing operations in France, Germany, and Malay-

sia.

Basis of preparation

The Company has decided to apply the consolidation exemption by article 408, Book of the Netherlands Civil

Code. As such, the Company is exempted from preparing consolidated financial statements. The consolidated

financial statements of the ultimate parent company, 3W Power Holdings S.A. (previously named Germany1

Acquisition Ltd), for year ended 31 December 2009 has been filed with the trade register at the Chamber of

Commerce in Amsterdam.

The financial statements have been prepared in accordance with Title 9 Book 2 of the Netherlands Civil Code.

The principles adopted for the valuation of assets and liabilities and determination of the result are stated at his-

torical cost.

The financial reporting period is the calendar year.

Going Concern

The going concern assumption was applied during the preparation of these financial statements.

Change in accounting policy

Following the application of the consolidation exemption by article 408, Book 2 of the Netherlands Civil Code,

the Company has decided to change the accounting policy for the valuation of its investments in participating

interests from the previous accounting at net asset value to cost. In this respect the participating interests have

been valued at their initial cost less any provision, if the fair value of the participating interest is deemed lower.

The comparative figures have been adjusted.

The impact of this change in accounting policy has been a decrease of €87,000 of both equity and participating

interests in group companies as at the end of 2008. The 2008 income statement presented as comparables do not

make use of the exemption pursuant to section 402 of Book 2 of the Netherlands Civil Code and is therefore

presented in its complete format. The impact of the above described change in accounting policy had a net im-

pact of €825,000 on the profit after taxes (decrease of profit).

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AEG 21604 G Manual de usuario Pagina 503