Notes to the consolidated financial statements: General

Corio N.V. (‘Corio’ or ‘the Company’) is a closed-end property investment fund and is licensed under the Financial Supervision Act (WFT).

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Basis of preparation

The consolidated financial statements have been prepared in accordance with the nternational Financial Reporting Standards (‘IFRS’) adopted by the European Union.

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Basis of consolidation

Subsidiaries are those entities ultimately controlled by Corio.

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Foreign currency

Transactions in foreign currencies are translated into euros at the spot exchange rate on the transaction date.

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Investment property

Investment property covers investments in property held for the purpose of generating rental income, for capital gain or for a combination of both.

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Investment property under development

Property under development for future use as investment property is classified as investment property under development (development projects) and carried at cost until construction or development is complete, at which point it is reclassified to...

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Other investments, non-current

Loans and receivables are carried at amortised cost, less impairment losses, if applicable.

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Intangible assets

Intangible assets solely relate to goodwill, being the difference between the purchase price of an acquisition and the fair value of the Group’s share of the net assets of the acquired subsidiary, associate or joint venture at the effective date of...

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Property, plant and equipment

Property, plant and equipment, including the building used by the Company itself, are carried at cost less accumulated depreciation and impairment losses.

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Deferred tax

Deferred tax is recognised using the balance sheet method, reflecting temporary differences between the carrying amounts of assets and liabilities and the amounts used for tax purposes.

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Trade and other receivables

Trade and other receivables are carried at amortised cost less impairment losses.

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