Page 81 - Restamax Plc Annual Report 2017

1 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Basic information about the Group Monetary figures in the financial statements are
expressed in thousands of euros unless otherwise stated.
The Group’s main industry segment is the production of The company’s functional currency is the euro.
restaurant services and labour hire services.
New standards and interpretations applied
The Group’s parent company is Restamax Plc. The
parent company’s domicile is Tampere, its home state is The following standards and amendments to standards
Finland and its registered address is Hatanpään valtatie have been adopted for the first time in the Group as of
1 B, 33100 Tampere. the financial period that begun on 1 January 2017:
Restamax Plc and its subsidiaries (collectively referred - Recording deferred tax assets from unrealised losses –
to as “Restamax” or the “Group”) are a Finnish Group amendments to IAS 12,
that operates in the fields of restaurant and labour hire
business. The Group has 144 bars, restaurants and night - Project concerning the information to be presented in
clubs in different parts of the country; of these, 131 are financial statements – amendments to IAS 7.
operated by the Group, 9 are franchising outlets and
4 are sublet. The Group also engages in other activi-
ties that support the restaurant industry. The Group’s
restaurant concepts include Viihdemaailma Ilona,
Classic American Diner, Colorado Bar & Grill, Stefan’s
Steakhouse and entertainment centres Galaxie Center
and Space Bowling & Billiards.
A copy of the consolidated financial statements is available
at the website www.restamax.fi or in the main office of the
Group’s parent company at the above address.

Restamax Plc’s Board of Directors has approved the publi-
cation of these financial statements in its meeting on 27
March 2018. According to the Finnish Limited Liability
Companies Act, shareholders are authorised to approve
or reject the financial statements in a general meeting
held after its publication. The general meeting can also
decide on the amendment of the financial statements.

Accounting principles

These are the sixth financial statements of the Restamax
Group that have been drawn up under the International
Financial Reporting Standards (IFRS), and they have
been drawn up following the IAS and IFRS standards
in force as of 31 December 2017, as well as the SIC and
IFRIC interpretations issued in relation to them. The
International Financial Reporting Standards refer to
the standards and their interpretations approved for
application in the EU in accordance with the procedure
stipulated in the EU’s regulation (EC) No. 1606/2002 and
embodied in the Finnish Accounting Act and provisions
issued under it. The notes to the consolidated financial
statements have also been prepared in accordance with
the requirements in Finnish accounting legislation and
Community law that complement the IFRS regulations.

The information in the consolidated financial state-
ments is based on original acquisition costs, except
where otherwise stated in the accounting principles.

CONSOLIDATED FINANCIAL STATEMENTS 81