Page 124 - EVRY Annual Report 2012

Annual Accounts EVRY ASA 124
Accounting principles
The accounts of EVRY ASA are prepared in accordance with the regulation in the Norwegian Accounting Act that allow
simplified application of International Financial Reporting Standards, cf. Regulation no 0057 of 21 January 2008. This
means that the accounting principles are the same as in the group accounts, while the disclosures are in accordance
with the Norwegian Accounting Act.
Shares in subsidiaries are recognised in the company’s unconsolidated accounts in accordance with the cost method.
Dividends and other profit distributions accrued for in these companies are recognised as financial income in the
period to the extent that they result from profits earned during the period of ownership.
For information about accounting principles, see group accounts note 1.
Salaries and personnel costs
NOK million 2012 2011 2010
Salaries and holiday pay 39.8 35.5 19.6
Social security tax 5.5 5.5 4.1
Pension costs 3.7 0.1 1.7
Charged other units -16.6 -14.0 -3.0
Total salaries and personnel costs 32.3 27.1 22.5
Average number of employees 13 12 9
Average number of man-labour year 12 12 9
See note 4 - Group regarding remuneration to executive management.
Pensions
The company operates a defined benefit occupational pension scheme that meets the requirements of Norwegian
legislation on mandatory occupational pensions. The defined benefit scheme has six members. The company’s
defined benefit occupational pension scheme is closed to new members, and has 11 retired members.
An additional operating pension plan is established for executive managment. The operating pension plan is not
comprised by legislation on pension and contribution pension or legislation on enterprise pension and is not fund
based. The annual pension entitlement is calculated as 30% of salaries exceeding 12G for the Chief Executive Officer
and 25 % of salaries exceeding 12G for other members of the excecutive management, and the annual return shall at
minimum equal 12 months NIBOR 31 December previous year.
Note 01
Note 02
Note 03
EVRY ASA
Notes to Financial Accounts