Consortium of European Social Science Data Archives

Financial Statement

 

CESSDA AS Profit & Loss Statement

 

NOTE

2015

2014

Operating income and expenses

     

Other operating income

6

9 152 196

7 966 857

Operating income

 

9 152 196

7 966 857

 

Payroll expenses

1

3 274 722

919 358

Depreciation and amortisation expense

4

65 400

42 276

Other operating expenses

1

7 669 009

8 181 044

Operating expenses

 

11 009 131

9 142 678

 

Operating profit

 

-1 856 935

-1 175 821

 

Financial income and expenses

Other interest income

 

15 108

31 967

Other financial income

 

2 474 644

1 144 942

Other interest expenses

 

2 178

0

Other financial expenses

 

630 639

1 088

Net financial income and expenses

 

1 856 935

1 175 821

 

Annual net profit

 

0

0

NB: values in NOK

 

CESSDA AS Balance Sheet

Assets

NOTE

2015

2014

Fixed assets
Tangible fixed assets

     

Equipment and other movables

4

155 600

221 000

Total tangible fixed assets

 

155 600

221 000

       

Total fixed assets

 

155 600

221 000

       

Current assets
Debtors

     

Accounts receivables

 

185 789

17 268

Other receivables

 

204 099

459 576

Total debtors

5

389 888

476844

       

Cash and bank deposits

     

Cash and bank deposits

7

28 673 556

19 521 192

       

Total current assets

 

29 063 554

19 998 035

       

Total assets

 

29 219 045

20 219 035

NB: values in NOK

 

CESSDA AS Balance Sheet

Equity and liabilities

NOTE

2015

2014

       

Equity
Restricted equity

Share capital

2,3

50 000

50 000

Total restricted equity

 

50 000

50 000

 

Total equity

3

50 000

50 000

 

Liabilities
Current liabilities

Trade creditors

 

141 418

515 479

Deduction of tax and other public liabilities

 

150 360

271 525

Other short-term liabilities

 

4 624 032

5 022 912

Deferred income

6

24 253 235

14 359 119

Total short term liabilities

5

29 169 045

20 169 035

 

Total liabilities

 

29 169 045

20 169 035

Total equity and liabilities

 

29 219 045

20 219 035

NB: values in NOK

Notes to the Financial Statements

Accounting Principles

The accounts have been prepared in accordance with the Norwegian Accounting Act and good accounting practice in Norway. The accounting principles are described below.

Operating Income and Expenses

Dividends from investments in stocks and shares are recognized in the year in which they are received. Gains and losses are recognized in the year of realization, except when recognition in an earlier period is in accordance with good accounting practice.

Expenses are recognized in accordance with the matching principle. This means that expenses are recognized in the same period as the related income.

Classification of Assets and Liabilities

Assets meant for long-term ownership or use are classified as fixed assets. Other assets are classified as current assets. Outstanding receivables to be repaid within one year are classified as current assets. The classification of liabilities is based on analogous criteria.

Fixed assets are valued at acquisition cost. Fixed assets which have a limited economic life shall be depreciated in accordance with a reasonable depreciation schedule. Fixed assets shall be written down to their fair value when a decline in value is not expected to be temporary. The write down shall be reversed when the basis for the write down is no longer present.

Current assets are valued at the lower of acquisition cost and fair value. Liabilities are appraised at the nominal value on the acquisition date.

Currency

Assets in foreign currency are translated at the exchange rate on the balance sheet date, NOK/EUR = 9,0365 for 2014 and NOK/EUR = 9,6190 for 2015.

Taxes

Since the business is a not for profit organization it is not liable for corporation tax in accordance with Tax Law § 2-32.

Pension

The company has established a defined benefit pension scheme. The pension premium is classified as payroll expenses.

 

Note 1 – Payroll Expenses, Numbers of Employees, Loans to Employees etc

Payroll expenses consist of:

 

2015

2014

Wages and holiday allowance

2 362 492

756 522

Payroll tax

404 182

106 734

Pension premium

239 726

0

Other benefits

268 321

56 102

Total

3 274 722

919 358

     

Average number of full time equivalent

3

1

NB: values in NOK

Three employees were hired during the autumn of 2014.

The total remuneration paid to directors was € 126 253. The company changed directors in 2015. The fee paid to Members of the Board was € 24 951. Each board member was paid € 3 119 and the chairman of the board was paid € 6 238.

The company is obliged to have a pension scheme according to the Norwegian Law of compulsory occupational pension scheme and have established a defined benefit pension scheme which satisfies the requirements.

Amounts paid to the company’s auditor were € 5 783 for audit and € 5 809 for other services.

 

Note 2 – Ownership Structure

The company’s share capital is NOK 50 000. The share capital comprises of 10 shares with a nominal value of NOK 5 000. The shares have equal voting rights.

On the 31 December the company had the following shareholders:

 

Antall aksjer

Eierandel

Kunnskapdepartementet

10

100%

 

Note 3 – Changes in Equity
 

Aksjekapital

Sum

Shareholders' equity 01.01

50 000

50 000

Profit for the year

0

0

Shareholders' equity 31.12

50 000

50 000

NB: values in NOK

 

Note 4 – Tangible Fixed Assets
 

Fixtures, fittings and equipment

Acquisition cost 01.01

266 276

Purchase in accounting year

0

Acquisition cost 31.12

266 276

Accumulated depreciation

110 676

Book value 31.12

155 600

   

Annual depreciation

65 400

   

Expected economic life

3–5 years

NB: values in NOK

 

Note 5 – Maturity of Receivables and Payables

Liabilities that fall due more than five years after the end of the accounting year are € 0.

Receivables that fall due more than one year after the end of the accounting year are € 0.

 

Note 6 – Breakdown of Income

Income in the year was derived from the following sources:

 

2015

2014

Funding from Norwegian Research Council

7 410 640

6 582 960

Other grant income

11 635 672

8 987 991

     

Total

19 046 312

15 570 951

Available as future operating budget:

 

Deferred income

Deferred income pr. 01.01

14 359 119

Grant income in accounting year

19 046 312

Operating expenses

-11 009 131

Net financial income and expenses

1 846 935

Deferred income until 31.12

24 253 235

NB: values in NOK

 

Note 7 – Fixed Assets

In the cash and bank deposits record are fixed tax deduction funds included with NOK 200 000.

 

Last chapter: Bodies of CESSDA