The financial statements have been prepared for the year ended 31 December 2015, and have been prepared on an accrual basis under the historical cost convention except where otherwise stated.

2.1 Measurement convention

The presentation currency is Euro denoted by the symbol €, which is also the Agency’s functional currency. All amounts in the financial statements have been rounded to the nearest thousand (denoted by €'000) unless otherwise indicated.

2.2 Investments

Investments are stated at cost.