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FINANCIAL STATEMENTS
6
PARENT COMPANY FINANCIAL STATEMENTS
resulting from the exercise of stock warrants in the period from 1 January
to 31 January 2015.
On 1 April 2015, the Board of Directors placed on record a €12 thousand
capital increase (with an issue premium of €120 thousand) resulting
from the exercise of stock warrants in March 2015.
On 6 May 2015, the Board of Directors placed on record a €1 thousand
capital increase (with an issue premium of €10 thousand) resulting from
the exercise of stock warrants in the period from 1 April to 30 April
2015.
On 5 June 2015, the Board of Directors placed on record a €15 thousand
capital increase (with an issue premium of €154 thousand) resulting
from the exercise of stock warrants in the period from 1 May to 31 May
2015.
On 15 July 2015, the Board of Directors placed on record a
€35 thousand capital increase (with an issue premium of €351 thousand)
resulting from the exercise of stock warrants in the period from 1 June
to 30 June 2015.
The Company’s share capital totalled €22,218,216 at 31 December
2015.
Significant events after the reporting date
No significant events requiring adjustments to the financial statements
as presented in these notes took place between 31 December 2015
and the date on which these financial statements were approved for
issue by Assystem SA’s Board of Directors.
Risk factors
ASG is involved in a legal dispute with Acergy (since renamed Subsea
7) and Iska Marine concerning a fire that occurred in January 2010
aboard a ship, the Acergy Falcon, which was dry-docked in Brest for
maintenance at the time. The main development in this case in 2015
was that the court-appointed expert filed his assessment report, which
stated that ASG was at fault in a number of respects and therefore that
it is jointly liable for the occurrence and extent of the fire, although
the degree of its liability was not quantified. Despite the findings of
this report, as in prior periods, Assystem still considers that there is no
evidence that ASG was at fault or that it will necessarily be held fully or
partially liable. In addition, as in previous periods, the Group confirms
that in the event ASG is held liable, this claim would be covered under
the Group’s third-party liability insurance policies.
NOTE 2
BASIS OF PREPARATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation
Assystem’s parent company financial statements have been prepared
in accordance with French generally accepted accounting principles
including the principle of segregation of accounting periods. They are
presented on a going concern basis and accounting policies have been
applied consistently from one year to the next.
Accounting entries are based on the historical cost convention.
Fixed assets
Property, plant and equipment are stated at cost, corresponding to either
purchase cost (including incidental expenses but excluding transaction
costs), or production cost.
Interest on borrowings specifically used to finance property, plant and
equipment is not included in production cost.
Intangible assets are carried at cost, excluding financial expenses,
which are not capitalised.
Depreciation and amortisation is determined on a straight-line basis over
the estimated useful lives of the assets concerned as follows:
●
Software
1 to 5 years
●
Patents
4 years
●
Fixtures and fittings 5 to 10 years
●
Vehicles
3 to 5 years
●
Office equipment 3 to 5 years
●
Office furniture
5 to 10 years
●
Buildings
20 years
ASSYSTEM
FINANCIAL REPORT
2015
133