Page 17 - MEDIASET ESPAÑA / 2013. Financial Statements, Management and Corporate Governance Report

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MEDIASET ESPAÑA COMUNICACIÓN, S.A.
NOTES TOTHE FINANCIAL STATEMENTS FOR THEYEAR ENDED DECEMBER 31, 2013
(Thousands of euros)
Mediaset España Comunicación, S.A., acquired all the absorbed companies’ assets based on the merger balance sheets at
December 31, 2010 by universal succession, and assumed all their rights and obligations without reservation, exception
or limitations as established by law.
The merger took effect for accounting purposes on January 1, 2011.
In respect of the aforementioned takeover and merger, the Company elected to apply the option set forth in Chapter
VIII,TitleVII of the revised Spanish Corporation Law, approved by Royal Legislative Decree 4/2004 of March 5, regarding
mergers, spin-offs, contributions of assets and exchanges of securities.
2. BASIS OF PRESENTATION OF THE FINANCIAL
STATEMENTS
The financial statements have been prepared in accordance with Spanish GAAP enacted by Royal Decree
1514/2007 of November 16, which was amended by Royal Decree 1159/2010, of September 17, and all prevailing
mercantile law.
The figures shown in these financial statements are presented in thousands of euros unless otherwise indicated.
True and fair view
The accompanying annual financial statements have been prepared from the Company’s accounting records in
accordance with prevailing accounting legislation in order to give a true and fair view of the equity, financial position and
results of the Company, as well as the cash flows reported in the cash flow statement.
These financial statements have been prepared by the directors of the Company and will be submitted for approval by
the shareholders in general meeting. It is expected that they will be approved without modification.
Comparative information
Thus, in accordance with mercantile law, for comparative purposes the Company has included the 2012 figures in
addition to those of 2013 for each item of the balance sheet, of the income statement, of the statement of changes in
equity and of the cash flow statement.
The notes to the financial statements also include quantitative information from the previous year, except when an
accounting standard specifically establishes this as unnecessary.
When comparing the figures from 2013 to those of 2012, it is important to note that the figures presented in the
previous year differ in some headings from those contained in the approved financial statements for the same period.
In accordance with Spanish GAAP measurement rule 22 on changes in accounting policies, errors and changes in
accounting estimates, it was considered necessary to adjust the amount of deferred tax assets corresponding to
temporary differences arising from valuation adjustments to equity investments in group companies; these were
therefore considered permanent differences. This change was made retroactively, including 2012 figures as well as the
initial reserves for that year.