CONSOLIDATED FINANCIAL STATEMENTS OF LUNDBECKFONDEN
LUNDBECKFONDEN ANNUAL REPORT 2018
36. Group overview - continued
96
37. General accounting policies
Company name
Country
Ownership
The consolidated financial statements for 2018 have been prepared in accordance with Interna-
Falck Saglik AS
Turkey
100%
Access Transport Services Holding, Inc.
tional Financial Reporting Standards (IFRS) as adopted by the EU and additional requirements
United States
99%
Falck Global Assistance, LLC
United States
99%
Falck Risk Solutions, LLC
United States
60%
AccessOnTime Language Services, LLC
United States
99%
Belgium
100%
Brazil
65%
vised standards (IFRS/IAS) and interpretations (IFRIC), which apply to the financial year.
France
65%
Changes in accounting policies are described below. No other changes have been made to the ac-
Falck Fire Services DE GmbH
Germany
100%
Falck Operations Services DE GmbH
Germany
100%
Italy
65%
Falck Consulting & Technology B.V.
Netherlands
100%
Falck Fire Services NL B.V.
Netherlands
100%
Poland
100%
Falck Fire Services S.R.L.
Romania
100%
Falck Fire Services a.s.
Slovakia
51%
Falck Security Services s.r.o.
Slovakia
51%
Falck Emergency Spain, S.L.
Spain
65%
Falck SCI, S.A.
Spain
65%
Falck Räddningstjänst AB
Sweden
100%
Falck Fire Consulting Ltd.
United Kingdom
93%
Falck Fire Services UK Ltd.
United Kingdom
100%
Industrial Firefighting Falck Fire Services BE NV Falck Fire & Safety do Brasil S.A. Falck France SAS
Falck Servizi Industriali di Emergenza S.r.l.
Falck Fire Services Polska Sp. z.o.o.
The consolidated financial statements are presented in Danish kroner (DKK), rounded to the nearest DKKm, which is also the functional currency of Lundbeckfonden (the parent foundation). The consolidated financial statements have been prepared in accordance with the new and re-
counting policies that have affected recognition and measurement in the current or previous years. CHANGES IN ACCOUNTING POLICIES The Group has implemented IFRS 9 Financial Instruments and IFRS 15 Revenue from Contracts with Customers from 1 January 2018 using the modified retrospective method. Furthermore, the disclosure requirements in IFRS 7 Financial Instruments: Disclosures from IFRS 9 Financial Instruments have been implemented. IFRS 9 Financial Instruments Lundbeck The implementation has had an impact on the presentation of fair value adjustments on equity investments previously classified as available-for-sale financial assets. These fair value adjust-
Group Falck Treasury A/S
of the Danish Financial Statements Act, including the Danish Statutory Order on Adoption.
Denmark
100%
ments were previously recognised in other comprehensive income. As from 1 January 2018, Lundbeck irrevocably and on an individual basis classifies such fair value adjustments on each equity investment either in the income statement under financial items or in other comprehensive income. Lundbeck has decided to recognise fair value adjustments on all equity investments held
1) 2) 3)
Associates of Lundbeckfond Invest A/S are recognised in Financial assets - Invest or Financial assets - Lundbeckfonden Ventures and Emerge Lundbeck UK LLP is owned by Lundbeck Group Ltd. (Holding), Lundbeck Limited and Lifehealth Limited, all of which have H. Lundbeck A/S as the direct or ultimate parent company Associates and joint ventures
at 1 January 2018 in the income statement under financial items. Comparative figures have not been restated. However, if the standard had been implemented for the financial year 2017, profit for the year would have been DKK 20m higher, whereas the implementation would not have had any impact on total comprehensive income, total equity or total assets and liabilities. The impact on profit for the year for 2018 was DKK 5m. At 31 December 2018, the carrying amount of other financial assets amounted to DKK 70m.