Note P1 Parent Company
TheParent Company applies the generalmethod, according to the rating-based method for calculating expected credit losses on intra-group receivables, see the Group's accountingprinciples, Impairment of financial instruments. Basedon the parent company's judgement taking intoaccount known information and forward-looking factors, includingbusiness plans and forecasts, expected credit losses are not considered tobematerial and therefore noprovisionhas been recognised. TheParent Company's assets and receivables have beenassessed tobe inStage 1, that is, there has beenno significant increase in credit risk. Group contributions Group contributions received and submitted are reported as a year-end appropriation.
accounting principles
Basis for the preparation of the reports The annual report for the Parent Company, Hemnet Group AB, has been pre- pared in accordance with the Swedish Annual Accounts Act (ÅRL) and RFR 2 Accounting for Legal Entities. The RFR 2 states that, in financial reports, the Parent Company must apply International Financial Reporting Standards (IFRS) as adopted by the EU, to the extent this is possible within the frame- work of the ÅRL and the Pension Obligations Vesting Act, as well as the relationship between accounting and taxation. The recommendation specifies the exceptions and additions required in relation to IFRS. Accordingly, the Parent Company applies the principles presented in Note G1 of the consolidated financial statements, with the exceptions set out below. There were no changed accounting principles for the Parent Company in 2021. The preparation of reports in accordance with RFR 2 requires the use of some important estimates for accounting purposes. Furthermore, management is required to make certain assessments when applying the Parent Company’s accounting principles. The areas that comprise a high degree of judgement, which are complex or such areas where assumptions and estimates are of material importance for the annual report, are stated in Note G2 of the consolidated financial statements. For information on financial risks, see Note G21 of the consolidated financial statements. Presentation formats The income statement and balance sheet follow the format of the Swedish Annual Accounts Act. The report on changes in equity also follows the Group's format, but must contain the columns specified in the Annual Accounts Act. Furthermore, this means a difference in terms, compared to the consolidated accounts, mainly regarding financial income as well as expenses and equity. Participations in group companies Shares in subsidiaries are recognised at cost minus any write-downs. The acquisition value includes acquisition-related costs and any additional purchase considerations. When there is an indication that participations in subsidiaries have decreased in value, the recoverable amount is calculated. If this is lower than the carrying amount, a write-down is made. Write- downs are reported in the item "Result from participations in Group companies”. No write-down requirement for shares in Group companies has been identified for the financial year. Financial instruments Due to the relationship between accounting and taxation, the rules on financial instruments in accordance with IFRS 9 are not applied in the Parent Company as a legal entity, rather the Parent Company applies these in accordance with the Annual Accounts Act value method. In the Parent Company, therefore, financial fixed assets are valued at cost and financial current assets in accor - dance with the lowest value principle, applying impairment losses for expected credit losses in accordance with IFRS 9 for assets that are debt instruments, see the Group's accounting principles, Impairment of financial instruments. Impairment losses for other financial assets are based onmarket values.
G1 G2 G3 G4 G5 G6 G7 G8 G9
Not P2 Personnel costs
2021
2020
G10 G11 G12 G13 G14 G15 G16 G17 G18 G19 G20 G21 G22 G23 G24 G25 G26 G27 G28 G29
Salaries and other remu- neration
Salaries and other remu- neration
Social costs
Social costs
Parent company Senior executives (including profit-sharing)
3.8 (-)
1.9 0.5
5.0 (-)
2.2 0.5
of whichpension costs
- - -
- - -
Other employed
- -
- -
of which pension costs
Total
3.8
1.9 0.5
5.0
2.2 0.5
of which pension costs
Senior executives refers to the CEO.
Average number of employees
2021
2020
Of which women
Of which women
Total
Total
Parent company Sweden
1 1
1 1
1 1
1 1
Total
Note P3 Participations inGroupcompanies
31/12/2021 31/12/2020
Opening balance Change for the year
1,141.6
1,141.6
P1 P2 P3 P4 P5 P6 P7 P8 P9
5.0
-
Closing balance
1,146.6
1,141.6
The Parent Company has direct ownership in the following subsidiaries:
Reported value 31/12/2021
Name
Corp. reg. no 559088-4457 559264-9775 559311-7780
Location
Share capital/% Number of shares
Hemnet Holding AB
Stockholm Stockholm Stockholm
100 100 100
50,000 25,000
1,141.6
HN Hem AB HN Area AB
0.0 5.0
10,000,000
The Parent Company has direct ownership in the following subsidiaries included in the Group: Name Corp. reg. no Location
Share capital/%
Number of shares
Hemnet Holding II AB Hemnet Holding III AB Hemnet Sverige AB
559088-4465 559088-4473 556536-0202 556260-0089
Stockholm Stockholm Stockholm Stockholm
100 100 100 100
50,000 50,000
1,000
Hemnet AB
10,000
financial statements
HEMNET GROUP | ANNUAL AND SUSTAINABILITY REPORT 2021· 67
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