Commission Regulation (EC) No 250/2009Show full title

Code

:

12 11 0

Name

:

Turnover

Annex

:

I to V, VII and VIII

Definition U.K.

For the statistics on activities defined in Section 3 of Annexes I to IV and VIII of Regulation (EC) No 295/2008 except for the activities classified in NACE Rev.2 Section K turnover comprises the totals invoiced by the observation unit during the reference period, and this corresponds to market sales of goods or services supplied to third parties. The sales of goods include the goods produced by the enterprise as well as the merchandise purchased by a retailer or land and other property held for resale (if land and other property were initially purchased for investment purposes they should not be included in turnover). The rendering of services typically involves the performance by the enterprise of a contractually agreed task over an agreed period of time. The revenue of the long-term contracts (e.g. building contracts) should be recognised by reference to the stage of completion of the contract and not the finished contract method. Goods produced for own consumption or investment should be excluded from turnover.

Turnover includes all duties and taxes on the goods or services invoiced by the unit with the exception of the value added type taxes (VAT). VAT are collected in stages by the enterprise and fully borne by the final purchaser.

It also includes all other charges (transport, packaging, etc.) passed on to the customer, even if these charges are listed separately in the invoice. Reduction in prices, rebates and discounts as well as the value of returned packing must be deducted.

Income classified as other operating income, financial income and extra-ordinary income in company accounts according to the 4th Accounting Directive and revenue from the use by others of enterprise assets yielding interest, royalties and dividends and other income according to IAS/IFRS is excluded from turnover. Operating subsidies received from public authorities or the institutions of the European Union are also excluded.

For the statistics on activities defined in Section 3 of Annex V of Regulation (EC) No 295/2008, the corresponding title of this characteristic is ‘Gross premiums written’. This characteristic is defined in Article 35 of Directive 91/674/EEC(1). Note: For the layout of the profit and loss account (technical account): Article 34, I. 1(a) of Directive 91/674/EEC for non-life insurance business and Article 34, II. 1(a) of Directive 91/674/EEC for life insurance business.

For the statistics on activities defined in Section 3 of Annex VII of Regulation (EC) No 295/2008, the corresponding title of this characteristic is ‘Total pension contributions’. This characteristic shall comprise all pension contributions, due during the financial year, in respect of pension contracts, such as all mandatory contributions, other regular contributions, voluntary additional contributions, incoming transfers, other contributions.

Link to company accounts U.K.

For the statistics on activities defined in Section 3 of Annexes I to IV and VIII of Regulation (EC) No 295/2008 except for the activities classified in NACE Rev.2 Section K

4th Accounting Directive: Council Directive 78/660/EEC U.K.

Turnover as defined above for statistical purposes comprises the accounting heading

• Net turnover including other taxes on products linked to turnover but not deductible

IAS Regulations: European Parliament and Council Regulation (EC) No 1606/2002 (2) and Commission Regulation (EC) No 1725/2003 U.K.

Turnover as defined above for statistical purposes comprises the accounting headings:

• revenue from the sales of goods and the rendering of services (IAS 18.35). If revenue of interests, dividends and royalties is included in this item, they should be subtracted.

Link to other variables: U.K.

For the statistics on activities defined in Section 3 of Annexes I to IV and VIII of Regulation (EC) No 295/2008 with the exception of enterprises with an activity classified in NACE Rev.2 Section K U.K.

• Turnover is used in the calculation of Production value (12 12 0) and other aggregates and balances.

• Turnover may be broken down by activity: Turnover from i) the principal activity, ii) industrial activities, iii) trading activities of purchase and resale and intermediary activities, iv) intermediary activities (agents), v) other service activities (18 11 0 to 18 16 0).

• Turnover may be broken down by product type: Breakdown of turnover by product type (18 21 0).

For the statistics on activities defined in Section 3 of Annex V of Regulation (EC) No 295/2008, ‘Gross premiums written’ (12 11 0) is calculated as follows: U.K.

Gross direct premiums written (12 11 1),

+

Gross reinsurance premiums accepted, written premiums (12 11 2).

Gross premiums written is used in the calculation of Gross premiums earned (32 11 0) and other aggregates and balances.

For the statistics on activities defined in Section 3 of Annex VII of Regulation (EC) No 295/2008 Turnover (Total pension contributions) is calculated as follows: U.K.

Pension contributions receivable from members (48 00 1),

+

Pension contributions receivable from employers (48 00 2),

+

Incoming transfers (48 00 3),

+

Other pension contributions (48 00 4)

or:

Pension contributions to defined benefit schemes (48 00 5),

+

Pension contributions to defined contribution schemes (48 00 6),

+

Pension contributions to hybrid schemes (48 00 7).

For the statistics on activities defined in Section 3 of Annex VIII of Regulation (EC) No 295/2008 ‘Turnover’is further broken down into products and the residence of the client U.K.

(1)

OJ L 374, 31.12.1991, p. 7

(2)

OJ L 243, 11.9.2002, p. 1