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Investor Presentaiton

nuuday Management review Financial statements Section 1 Section 2 Section 3 Section 4 Section 5 Section 6 Parent Company Statements 1.1 | Accounting policies Nuuday's consolidated financial state- ments for 2022 have been prepared in accordance with the International Financial Reporting Standards (IFRS) as adopted by the European Union (EU) and further disclosure requirements in the Danish Financial Statements Act. The consolidated financial statements are based on the historical cost conven- tion, except for financial assets and liabilities that are initially measured at fair value adjusted for transaction costs if they are not subsequently measured at fair value through the income state- ment. Trade receivables are measured at their transaction price. When preparing the consolidated finan- cial statements, Management makes assumptions that affect the reported amount of assets and liabilities at the balance sheet date, and the reported income and expenses for the accounting period. The accounting estimates and judgements considered critical to the preparation of the consolidated financial statements are shown in note 1.2. The accounting policies are unchanged compared with the policies applied in the Annual Report 2021. Consolidation policies The consolidated financial statements include the financial statements of the parent company and subsidiaries of which Nuuday A/S has direct or indirect control. Joint ventures of which the Group has joint control and associates of which the Group has significant influence are recognised using the equity method. The consolidated financial statements have been prepared on the basis of the financial statements of Nuuday A/S and its consolidated companies, which have been restated to Group accounting policies, combining items of a uniform nature. On consolidation, intra-group income and expenses; shareholdings, dividends, internal balances; and realised and unre- alised profits and losses on transactions between the consolidated companies have been eliminated. Nuuday Annual Report 2022 42
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