xbrli:pureiso4217:DKK378441522020-10-012021-12-31378441522020-10-012021-12-311378441522020-10-012021-12-311378441522020-10-012021-12-311378441522020-10-012021-12-312378441522020-10-012021-12-313378441522020-10-012021-12-314378441522020-10-012021-12-315378441522020-10-012021-12-312378441522020-10-012021-12-31378441522019-07-012020-10-03378441522020-10-012021-12-31fsa:RetainedEarningsMember378441522019-07-012020-10-03fsa:RetainedEarningsMember378441522020-10-012021-12-31fsa:RetainedEarningsMember378441522021-12-31378441522020-10-03378441522020-10-01fsa:ContributedCapitalMember378441522020-10-01fsa:RetainedEarningsMember378441522020-10-01378441522021-12-31fsa:ContributedCapitalMember378441522021-12-31fsa:RetainedEarningsMemberGrundlag for konklusionKonklusion2022-05-312022-05-31true339635562019-07-012020-10-03Aarhus C80002City Tower, VærkmestergadeDeloitte Statsautoriseret RevisionspartnerselskabFavrskovHinnerup8382Regnskabsklasse BRevisionspåtegning2021-12-312020-10-01<br /><br />3SigmaR&D Tools And Structures A/S37844152378441528382 HinnerupSigma 3R&D Tools And Structures A/SÅrsrapportThe Board of Directors and the Executive Board have today considered and approved the annual report of R&D Tools And Structures A/S for the financial year 01.10.2020 - 31.12.2021.The annual report is presented in accordance with the Danish Financial Statements Act.In our opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.12.2021 and of the results of its operations for the financial year 01.10.2020 - 31.12.2021.We believe that the management commentary contains a fair review of the affairs and conditions referred to therein.We recommend the annual report for adoption at the Annual General Meeting.HinnerupPeter Kattai Ulrikkeholmexecutive directorGuilherme SilvaBirgit AndersenPeter Kattai UlrikkeholmMonique MartinsEmil WolffchairmanTo the shareholder of R&D Tools And Structures A/SWe have audited the financial statements of R&D Tools And Structures A/S for the financial year 01.10.2020 - 31.12.2021, which comprise the income statement, balance sheet, statement of changes in equity and ​notes, including a summary of significant accounting policies. The financial statements are prepared in accordance with the Danish Financial Statements Act. ​ ​In our opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.12.2021 and of the results of its operations for the financial year 01.10.2020 - 31.12.2021 in accordance with the Danish Financial Statements Act.We conducted our audit in accordance with International Standards on Auditing (ISAs) and additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the "Auditor’s responsibilities for the audit of the financial statements" section of this auditor’s report. We are independent of the Entity in accordance with the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.Management is responsible for the preparation of financial statements that give a true and fair view in accordance with the Danish Financial Statements Act, and for such internal control as Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, Management is responsible for assessing the Entity’s ability to continue as a going concern, for disclosing, as applicable, matters related to going concern, and for using the going concern basis of accounting in preparing the financial statements unless Management either intends to liquidate the Entity or to cease operations, or has no realistic alternative but to do so.Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgement and maintain professional scepticism throughout the audit. We also:<br />Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. <br />Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Entity’s internal control. <br />Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management. <br />Conclude on the appropriateness of Management’s use of the going concern basis of accounting in preparing the financial statements, and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Entity’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Entity to cease to continue as a going concern. <br />Evaluate the overall presentation, structure and content of the financial statements, including the disclosures in the notes, and whether the financial statements represent the underlying transactions and events in a manner that gives a true and fair view.<br />We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.Management is responsible for the management commentary. Our opinion on the financial statements does not cover the management commentary, and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the management commentary and, in doing so, consider whether the management commentary is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. Moreover, it is our responsibility to consider whether the management commentary provides the information required under the Danish Financial Statements Act.<br />Based on the work we have performed, we conclude that the management commentary is in accordance with the financial statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not identify any material misstatement of the management commentary. AarhusHenrik VedelMikael Møllermne10052mne47835State Authorised Public AccountantState Authorised Public AccountantPrimary activitiesThe company's activities comprise consultancy, development, production and sales of transport and lifting equipment. Development in activities and financesThe income statement for the period 04.10.20 - 31.12.21 shows a loss of DKK -587,088 against DKK -1,619,980 for the period 01.07.19 - 03.10.20. The balance sheet shows equity of DKK -4,633,347. The management considers the net profit for the year to be disappointing. The company has in the financial year changed the balance sheet date to the calendar year. The company is covered by the provisions of section 119 of the Danish Companies Act regarding capital losses. During the financial year, the management adjusted the activity in the company and continues to review the level of activity. There is limited residual activity in the company. A statement of support has been given by the parent company. MTS Systems Danmark ApS will make the necessary liquidity available for the company's continued operations. The management expect that the company has the required liquidity to be going concern on the basis of the group's expectation for 2022 as well as the group's capital resources. Please refer to note 1.Events after the balance sheet dateNo events have occurred after the balance sheet date to this date, which would influence the evaluation of this annual report.-327789192412221794838743350671302694-545737-195962024580242946115044-786225-2074664-199137-454684-587088-1619980-587088-1619980-5870881011011011011011010214893022849648783239869425183636880025668381963156327168507516108096813282806737727828561754740211113617548412111237500000500000-5133347-4546259-4633347-4046259500000-4546259-4046259500000-5133347041340413402317350231735020452550043263624610848868311165809894886388188592162763881886153362175484121112371 Going concernThe following uncertainty about going concern in the annual report for the financial year 04.10.20 - 31.12.21: The company yielded a loss in the financial year 2020/21. The company is in state of a loss of capital. The management expect that the company has the required liquidity to be going concern on the basis of the group's expectation for 2022 as well as the group's capital resources. A letter of support has been received from the parent company. On that basis, the management has presented the annual report assuming going concern. 2 Staff costs2020/21 DKK2019/20 DKKWages and salaries215,4832,949,499Pension costs22,035799,850Other social security costs(18,640)62,226Other staff costs(930)62,760217,9483,874,335Average number of full-time employees06063 Other financial expenses2020/21 DKK2019/20 DKKFinancial expenses from group enterprises237,98068,702Other interest expenses4,96646,212Other financial expenses0130242,946115,044<br />2020/21 DKK2019/20 DKKFinancial expenses from group enterprises237,98068,702Other interest expenses4,96646,212Other financial expenses0130242,946115,0444 Tax on profit/loss for the year2020/21 DKK2019/20 DKKCurrent tax(315,632)(71,685)Change in deferred tax116,495(382,999)(199,137)(454,684)5 Financial assetsInvestments in group enterprises DKKCost beginning of year101Cost end of year101Carrying amount end of year1016 Contingent liabilitiesRecourse guarantee commitments The company has provided a guarantee whereby the guarantor assumes primary liability for group enterprises' debt to credit institutions. The guarantee is unlimited. The group enterprises' debt to the credit institutions concerned amounts to DKK 359k at the balance sheet date. Other contingent liabilities ​The Entity participates in a Danish joint taxation arrangement where ITW Denmark ApS serves as the administration company. According to the joint taxation provisions of the Danish Corporation Tax Act, the Entity is therefore liable for income taxes etc for the jointly taxed entities, and for obligations, if any, relating to the withholding of tax on interest, royalties and dividend for the jointly taxed entities. The jointly taxed entities' total known net liability under the joint taxation arrangement is disclosed in the administration company's financial statements.7 Assets charged and collateralThe company has not provided any security over assets. This annual report has been presented in accordance with the provisions of the Danish Financial Statements Act governing reporting class B enterprises with addition of a few provisions for reporting class C.The accounting policies applied to these financial statements are consistent with those applied last year. The financial year is 15 months in the current financial year as well as the last financial year so the comparative figures are comparable. The company has changed its financial year from 01.07 - 03.10 to the calender year. The first financial year after the change is the period 04.10.20 - 31.12.21. falseRecognition and measurementAssets are recognised in the balance sheet when it is probable as a result of a prior event that future economic benefits will flow to the Entity, and the value of the asset can be measured reliably. Liabilities are recognised in the balance sheet when the Entity has a legal or constructive obligation as a result of a prior event, and it is probable that future economic benefits will flow out of the Entity, and the value of the liability can be measured reliably. On initial recognition, assets and liabilities are measured at cost. Measurement subsequent to initial recognition is effected as described below for each financial statement item. Anticipated risks and losses that arise before the time of presentation of the annual report and that confirm or invalidate affairs and conditions existing at the balance sheet date are considered at recognition and measurement. Income is recognised in the income statement when earned, whereas costs are recognised by the amounts attributable to this financial year.Gross profit or lossGross profit or loss comprises revenue, changes in work in progress, other operating income, cost of raw materials and consumables and other external expenses.RevenueRevenue from the sale of services is recognised in the income statement when delivery is made to the buyer. Revenue is recognised net of VAT, duties and sales discounts and is measured at fair value of the consideration fixed.Contract work in progress is included in revenue based on the stage of completion so that revenue corresponds to the selling price of the work performed in the financial year (the percentage-of-completion method).Other operating incomeOther operating income comprises income of a secondary nature as viewed in relation to the Entity’s primary activities.Cost of salesCost of sales comprises goods consumed in the financial year measured at cost, adjusted for ordinary inventory writedowns.Other external expensesOther external expenses include expenses relating to the Entity’s ordinary activities, including expenses for stationery and office supplies, marketing costs, etc. This item also includes writedowns of receivables recognised in current assets.Staff costsStaff costs comprise salaries and wages, and social security contributions, pension contributions, etc for entity staff.Depreciation, amortisation and impairment lossesDepreciation, amortisation and impairment losses relating to property, plant and equipment and intangible assets comprise depreciation, amortisation and impairment losses for the financial year.Other operating expensesOther operating expenses comprise expenses of a secondary nature as viewed in relation to the Entity’s primary activities.Other financial incomeOther financial income comprises interest income, net capital or exchange gains on securities, etc. Other financial expensesOther financial expenses comprise interest expenses, including interest expenses on payables to group enterprises and net capital or exchange losses on securities, payables and transactions in foreign currencies.Tax on profit/loss for the yearTax for the year, which consists of current tax for the year and changes in deferred tax, is recognised in the income statement by the portion attributable to the profit for the year and recognised directly in equity by the portion attributable to entries directly in equity.Investments in group enterprisesInvestments in group enterprises are measured at cost. Investments are written down to the lower of recoverable amount and carrying amount.ReceivablesReceivables are measured at amortised cost, usually equalling nominal value less writedowns for bad and doubtful debts.Contract work in progressContract work in progress is measured at the selling price of the work carried out at the balance sheet date. The selling price is measured based on the stage of completion and the total estimated income from the individual contracts in progress. Usually, the stage of completion is determined as the ratio of actual to total budgeted consumption of resources. If the selling price of a project in progress cannot be made up reliably, it is measured at the lower of costs incurred and net realisable value. Each contract in progress is recognised in the balance sheet in receivables or liabilities other than provisions, depending on whether the net value, calculated as the selling price less prepayments received, is positive or negative. Costs of sales work and of securing contracts, and finance costs are recognised in the income statement as incurred.Deferred taxDeferred tax is recognised on all temporary differences between the carrying amount and the tax-based value of assets and liabilities, for which the tax-based value is calculated based on the planned use of each asset. Deferred tax assets, including the tax base of tax loss carryforwards, are recognised in the balance sheet at their estimated realisable value, either as a set-off against deferred tax liabilities or as net tax assets.Tax payable or receivableCurrent tax payable or receivable is recognised in the balance sheet, stated as tax computed on this year's taxable income, adjusted for prepaid tax.PrepaymentsPrepayments comprise incurred costs relating to subsequent financial years. Prepayments are measured at cost.CashCash comprises bank deposits.Other provisionsOther provisions comprise anticipated costs of non-recourse guarantee commitments, returns, loss on contract work in progress, decided and published restructuring, etc. Other provisions are recognised and measured as the best estimate of the expenses required to settle the liabilities at the balance sheet date. Provisions that are estimated to mature more than one year after the balance sheet date are measured at their discounted value. Non-recourse guarantee commitments comprise commitments to remedy defects and deficiencies within the guarantee period. Once it is probable that total costs will exceed total income from a contract in progress, provision is made for the total loss estimated to result from the relevant contract.Other financial liabilitiesOther financial liabilities are measured at amortised cost, which usually corresponds to nominal value.2022-05-31Birgit Andersen