Cloudberry Clean Energy Annual report 2020

Cloudberry Annual report 2020 Financial statements 96 Other income When Cloudberry develops projects in-house or acquire project rights and sell these assets; income from the transfer of the concession to a ready-to- build project or development rights to a project, is recognized upon the transfer of the concession rights or project rights. The income is presented net of the inventory cost related to the project. In 2020 there was no sale of develop projects. When there are conditions precedent to the contract the income is accounted when all material conditions precedent is settled. Net gain or loss from disposal of fixed assets are presented as other income, there has not been any sale of fixed assets during the year. Income from grants in 2020 was NOK 8 thousand net of resale. Note 13 Employee benefits and share based payments Employee benefits are accrued in the period in which the associated services are rendered by the employ- ees of the Company. The table below shows the employee benefits accrued in the period and the capitalized costs relate to development projects. NOK 1 000 2020 2019 Salaries 15 141 1 604 Payroll tax 2 069 238 Pension costs 614 83 Share based payment 1 251 - Other benefits 365 56 Gross personnel expenses 19 439 1 981 - Capitalized development costs (project inventory) -2 021 - Total personnel expenses 17 419 1 981 Average number of full-time equivalents (FTEs) 8 3 Number of full-time equivalents as 31.12 (FTEs) 10 4 Included in salaries are fees to board members in subsidiaries. Pension The Group has an established pension scheme that is classified as a defined contribution plan. The pension scheme is in line with the requirements of the law. Contributions to the defined contribution schemes are rec- ognised in the consolidated statement of profit and loss in the period in which the contribution amounts are earned by the employees. The defined contribution plan does not commit Cloudberry beyond the amounts contributed.