2007 - April

3.0
Notes to the statutory financial statements of APRIL GROUP SA for the year ended December 31 st , 2007
The accounting standards have been applied in accordance
with the principle of conservatism, in line with the following
basic assumptions, which seek to provide a faithful image of
the Company:
Continued operations,
Unchanged accounting methods from one financial year to
the next,
Independent financial years.
The basic method used for valuing items booked in the
accounts is the historical cost method.
1.1. Intangible fixed assets
The APRIL brand has been amortized in full. Software is
valued at its acquisition price.
Amortization charges are calculated on a straight-line basis
depending on the actual useful life, ranging from one to
three years.
1.2. Tangible fixed assets
Tangible fixed assets are valued on an acquisition price basis.
Amortization charges are calculated on a straight-line basis
depending on the actual useful life, in line with the following
general periods:
General installations and fittings
8 years
Transport equipment
5 years
Office equipment
5 years
IT equipment
3 years
Furnishings
5 years
In accordance with the provisions of CRC regulation 2002-10
relative to the amortization and depreciation of assets, any
signs of impairment in value are looked for at the close of
accounts and when drawing up interim statements.
As relevant, a depreciation charge may be valued and
recorded.
1.3. Equity securities
Equity securities are booked gross at their acquisition price,
including any related acquisition costs, which are recorded
as liabilities.
Equity interests are valued based on their going value:
The going value of securities is calculated in line with a
method based notably on the discounted future cash-flow
and net asset value, as per the medium-term plans;
The going value of other equity securities is determined
based on the net asset value;
When the going value is below the book value, a provision
for impairment is recorded for the difference.
1.4. Loans and payables
Loans and payables are valued at their par value. A provision
for impairment is recorded when the recoverable value is less
than the book value.
1.5. Marketable securities
Marketable securities are booked at their acquisition cost.
Treasury stock acquired under the liquidity agreement are
valued at the closing price on the last day’s trading for the
year.
Other marketable securities are valued at their last known
stock price or at the last net asset value for UCITS.
A provision is booked when the inventory value is lower than
the book value.
1.6. Provisions for contingencies and losses
Provisions for contingencies and losses comprise commitments
on which the due date or amount is uncertain and
results from commercial, industrial tribunal or other risks.
Each known dispute in which APRIL GROUP SA is involved is
examined at the close of accounts by the Board of Directors,
further to recommendations from external advisors if
relevant, with the provisions deemed necessary recorded to
cover the estimated risks.
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