Explanatory notes to the annual accounts General The annual accounts were prepared in accordance with Guideline 650 of Fundraising Organisations (RJ650).
Associated parties There is a mutual relationship between Stichting ZOA and ZOA Deutschland gGmbH which is formalized in a Charter Agreement. In accordance with Guideline 650 of Fundraising Organisations, no consolidated annual accounts have been prepared.
Consortia partners income Income and expenditures of consortia partners are excluded from indicator percentages, unless otherwise indicated. The annual accounts were prepared on historical cost basis or at fair value. Unless otherwise indicated, assets and liabilities are presented at historical costs. Income and expenditure are allocated to the period to which they relate. The annual accounts are presented in euros.
Reporting period The annual accounts were prepared based on a reporting period of one year. The financial year coincides with the Gregorian calendar year.
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Comparison with the previous year The valuation principles and methods of determining the result are the same as those used in the previous year, with the exception of the changes in accounting principles as set out in the relevant sections.
Transactions in foreign currencies Transactions in foreign currencies are converted against the exchange rate applicable at the time of transaction. Monetary assets and liabilities in foreign currencies are converted at balance sheet date in the functional currency against the rate applicable on that date. Non-monetary assets and liabilities in foreign currencies that are presented at historical cost are converted into euros at the exchange rates applicable on transaction dates. Differences in exchange rates appear as a result in the statement of income and expenditures.
Use of estimates assumptions that influence the application of accounting principles, as well as the reported value of assets, liabilities, income and expenditure. The actual outcome may deviate from these estimates. The estimates and underlying assumptions are assessed on an ongoing basis. Revised estimates are used once the estimate changes and in future periods when revisions may have consequences.
