Table 3.3 Consolidated participating interests Wageningen Universiteit Holding BV ISRIC Restaurant van de Toekomst
Registered office Wageningen Wageningen Wageningen
% in 2013 100 n.v.t. n.v.t.
% in 2014 100 n.v.t. n.v.t.
The non-consolidated participating interests (Table 3.4) are valued at acquisition cost or net asset value:
Table 3.4 Non-consolidated participating interests CanIT BV Ceradis BV Bio Prodict BV Surfix BV Green Dino BV
Registered office Wageningen Wageningen Wageningen Wageningen Wageningen
% in 2013
% in 2014
35 24 25 13 11
35 13 5 13 11
– Accounting policies for asset and liability valuation Research and development costs – Research costs are included in the profit and loss statement. Intangible fixed assets – Development costs, patents and licences, software, goodwill and production rights are not capitalised unless they are purchased from third parties or the production costs can be reliably established. In addition, the intangible fixed asset must be capable of generating future economic benefits. Intangible fixed assets are valued at acquisition or production cost. Amortisation is applied in proportion to the realisation of the forecast revenue in five years. When revenue realisation cannot be determined in a reliable manner, the linear depreciation method is used. As prescribed by law, a statutory reserve is maintained for the capitalised amount of development costs. Write-offs as a result of impairment, sale, loss or discontinuation are listed separately. Tangible fixed assets - Tangible fixed assets are valued at acquisition price or production cost, deducting accumulated depreciation. Depreciation is applied using the linear depreciation method on the basis of the estimated useful life and the residual value. Depreciation is proportionally applied in the year of purchase for assets other than buildings. The depreciation on buildings brought into use before 1 July in a given year is applied on 1 January of that year. The depreciation on buildings brought into use after 1 July in a given year is applied on 1 January of the following year. For very large investments, the actual commissioning date is used. Tangible fixed assets under construction or in production are valued at acquisition price or for the amount that has been invoiced to the company by third parties. Investments of less than €5,000 are charged directly to the profit and loss statement.
Wageningen UR Annual Report 2014| Wageningen University Annual Financial Report
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