10 Income taxes
The Fund, being a so called closed fund for mutual account (‘closed FGR’ in Dutch), is tax transparent for Dutch corporate income tax and dividend withholding tax purposes.
11 Employee benefits expense
The Office Fund has no employees.
12 Investment property
The Fund’s investment properties are valued by external valuation experts on a quarterly basis. The external valuation expert is changed every three years.
13 Trade and other current receivables
The other receivables in the previous year consist of prepaid expenses and settlement of dividend in 2023 due to the restructuring of the Fund into a Fund for Mutual Account.
14 Cash and cash equivalents
The bank balances of € 17.9 million are freely available to the Fund as at 31 December 2023.
15 Equity attributable to investors of Bouwinvest Dutch Institutional Office Fund
For 2023, before appropriation of result
16 Non-current lease liabilities
The average discount rate used for discounting the lease payments is 3%.
17 Current trade and other payables
The other payables relate to invoices yet to be received for maintenance of and investments in the portfolio.
18 Earnings per unit
19 Dividends per unit
In 2023, the Fund paid out a dividend of € 77.66 per unit (2022: € 109.97) which amounts to a total of € 32.3 million (2022: € 43.5 million).