Common use of Basis of consolidation Clause in Contracts

Basis of consolidation. The consolidated profit and loss account and balance sheet include the accounts of the parent company and all its operating subsidiaries made up to the end of the financial year. The results of subsidiaries acquired or disposed of during the year are included in the consolidated profit and loss account from the date of their acquisition up to the date of their disposal. Inter-group sales and profits are eliminated fully on consolidation.

Basis of consolidation. The consolidated profit and loss account and balance sheet include the accounts financial statements of the parent company and all its operating subsidiaries subsidiary undertakings made up to the end of the financial year31 December 2008. The results of subsidiaries sold or acquired or disposed of during the year are included in the consolidated profit and loss account up to, or from the date of their acquisition up to the date of their disposalcontrol passes. InterIntra-group sales and profits are eliminated fully on consolidation.