LEGO-Group-Annual-Report-2017.pdf

Lego as is jointly and severally liable for corporate

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LEGO A/S is jointly and severally liable for corporate income tax according to the joint taxation in the LEGO Group, KIRKBI A/S and in the companies controlled by KIRKBI A/S. The total amount of current tax liabilities, as well as related current tax credit counterparts are shown in the Annual Report of KIRKBI A/S, which is the administration company of the joint taxation. LEGO A/S is furthermore jointly and severally liable for Danish taxes at source withheld on behalf of non-resident companies for dividend, royalty and interest. LEGO A/S has utilised tax losses in non-Danish jurisdictions in the Danish joint taxation until 31 December 2004. The deferred tax of this amounts to DKK 90 million (DKK 90 million in 2016), of which DKK 0 million has been recognised as provision for deferred tax. The amount of DKK 90 million is not expected to be recaptured. The following transactions were carried through with related parties (mDKK) 2017 2016 Transactions with KIRKBI A/S Sale of assets 4 Other transactions charged (41) (2) (41) 2 Transactions with KIRKBI Invest A/S Interest charged (19) (19) Other transactions charged (1) (19) (20) Transactions with Merlin Entertainments Group Trademark fee received 28 25 28 25 Remuneration to Key Management Personnel is disclosed in note 2. Transactions with related parties were carried out on an arm’s length basis. Notes 66 Parent Company — Annual Report 2017
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Note 13. Proposed distribution of profit Year-end balances arising from transactions with related parties (mDKK) 2017 2016 Balances with KIRKBI A/S Payables (26) (26) Balances with KIRKBI Invest A/S Payable (10) (10) Loan (600) (600) (610) (610) Balances with Merlin Entertainments Group Receivables 5 5 5 5 Note 12 (continued) (mDKK) 2017 2016 Dividend 7,000 7,000 Reserve from the use of the equity method 764 (1,050) Retained earnings 11 3,455 7,775 9,405 Notes 67 Parent Company — Annual Report 2017
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Management’s Statement and Auditor’s Report Management’s Statement The LEGO Group — Annual Report 2017 68
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Management’s Statement The Executive Leadership Team and the Board of Directors have today considered and adopted the Annual Report of LEGO A/S for the financial year 1 January to 31 December 2017. The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards as adopted by the EU and additional requirements in the Danish Financial Statements Act and the Parent Company Financial Statements are prepared in accordance with the Danish Financial Statements Act. Management’s Review is prepared in accordance with the Danish Financial Statements Act. In our opinion, the Consolidated Financial Statements and the Parent Company Financial Statements give a true and fair view of the financial position at 31 December 2017 of the LEGO Group and the Parent Company and of the results of the LEGO Group and the Parent Company operations and consolidated cash flows for the financial year 1 January to 31 December 2017.
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