Cloudberry Annual report 2021 Financial statements 124 Payment terms for power related products are normally within 30 days. Management services are assessed for each service agreement. For revenue from sale of power and management services the recognition in most cases coincides with the right to invoice the consideration. Unsatisfied performance obligation will be recognized if any. Other income In 2021 Cloudberry Develop received an insurance settlement of NOK 4.8m related to Marker Vind farm, this is presented as other income when the settlement is paid. The remining other income is cost compensation from agreed cost split with Downing after the termination of the SPA agreement for Stenkalles in October 2021. When Cloudberry develops projects in-house or acquire project rights and sell these assets; income from the transfer of the concession to a ready-tobuild 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 2021 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 government grants is measured at cost. Government grants does not have any costs and the Group has not recognized any income from grants in 2021. Note 13 Employee benefits and share based payments Employee benefits are accrued in the period in which the associated services are rendered by the employees 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 2021 2020 Salaries 22 022 15 141 Payroll tax 4 766 2 069 Pension costs 1 110 614 Share based payment 4 388 1 251 Other benefits 349 365 Gross personnel expenses 32 635 19 439 - Capitalized development costs (project inventory) (4 530) (2 021) Total personnel expenses 28 105 17 419 Average number of full-time equivalents (FTEs) 12 8 Number of full-time equivalents as 31.12 (FTEs) 14 10 Included in salaries are renumeration to board members. 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 recognised 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.
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