38281429 2020-01-01 2020-12-31 38281429 2020-01-01 2020-12-31 0 38281429 2020-01-01 2020-12-31 0 38281429 2020-01-01 2020-12-31 1 38281429 2020-01-01 2020-12-31 2 38281429 2019-01-01 2019-12-31 38281429 2020-01-01 2020-12-31 fsa:RetainedEarningsMember 38281429 2019-01-01 2019-12-31 fsa:RetainedEarningsMember 38281429 2020-12-31 38281429 2019-12-31 iso4217:DKK xbrli:pure Regnskabsklasse B 2020-01-01 2020-12-31 AMG 44 A/S Esplanaden 50 DK-1263 Copenhagen K Denmark 38281429 Copenhagen 2016-12-13 Caroline Pontoppidan 2021-05-31 5 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">MANAGEMENT’S REPORT</td></tr><tr><td colspan="1">Main Activity</td></tr><tr><td colspan="1">The Company has in 2020 bought a office building at Ameliagade 44 and has been renovating and preparing so it could be leased out. Main purpose of the Company is domestic and foreign shipping and transportation, trade and service as well as investments in non-current assets and financing activities.</td></tr><tr><td colspan="1">Development in activities and financials</td></tr><tr><td colspan="1">The financial result is as expected and is considered satisfactory. For 2021 a modest loss is estimated.</td></tr><tr><td colspan="1">Subsequent events</td></tr><tr><td colspan="1">No subsequent events significantly influencing the financial year 2020 have taken place.</td></tr><tr><td colspan="1">The Company is included in the consolidated accounts of A.P. Møller Holding A/S, Copenhagen and A.P. Møller – Mærsk A/S, Copenhagen.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">MANAGEMENT’S STATEMENT</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">The Board of Directors and Management have today discussed and approved the annual report of AMG 44 A/S for the financial year 1 January - 31 December 2020.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">The annual report for 2020 of AMG 44 A/S has been prepared in accordance with the Danish Financial Statements Act (Årsregnskabsloven).</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">In our opinion, the financial statements give a true and fair view of the Company's assets and liabilities, financial position at 31 December 2020 and of the results of the Company's operations for the financial year 1 January – 31 December 2020.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Furthermore, in our opinion, the Management’s report includes a fair review of the development in the Company's operations and financial conditions, the results for the year and financial position.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">In accordance with the Danish Financial Statements Act’s (Årsregnskabsloven) section 135 para 1, the Annual Report is not audited.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">We recommend that the annual report be approved at the Annual General Meeting.</td></tr></table> Copenhagen 2021-05-31 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">The annual report 2020 of AMG 44 A/S has been prepared in accordance with the provisions of the Danish Financial Statements Act (Årsregnskabsloven) applicable for class B companies.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Recognition and measurement in general</td></tr><tr><td colspan="1">Income is recognised in the income statement when earned. Furthermore, costs necessary for obtaining the income are recognised.</td></tr><tr><td colspan="1">Assets are recognised in the balance sheet when it is probable that future financial benefits will arrive at the Company and the value of the assets can be reliably measured.</td></tr><tr><td colspan="1">Liabilities are recognised in the balance sheet when it is probable that future financial benefits will leave the Company and the value of the liability can be reliably measured.</td></tr><tr><td colspan="1">Assets and liabilities are initially recognised at cost price. Subsequent recognition is described below for each category.</td></tr><tr><td colspan="1">The Company uses Danish kroner as functional currency as well as presentation currency. All other currencies are considered foreign currencies.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Foreign currency translation</td></tr><tr><td colspan="1">Receivables, payables and other monetary items in foreign currency are translated to the exchange rate on the balance sheet date. The difference between the exchange rate on the balance sheet date and the time of recognition of receivables or payables are included in financial items in the income statement.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Revenue</td></tr><tr><td colspan="1">Revenue includes rental income in accordance with lease contracts for office building and manor house.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">External costs</td></tr><tr><td colspan="1">External costs include administration and overhead costs, etc.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Tax</td></tr><tr><td colspan="1">The Company is jointly taxed with A.P. Møller Holding A/S’ Danish subsidiaries. The actual company tax is allocated between the participating companies based on their taxable income.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Property, plant and equipment</td></tr><tr><td colspan="1">Properties are measured at cost with deduction of accumulated depreciation, amortisation and impairment losses.</td></tr><tr><td colspan="1">Depreciation on buildings is based on the estimated economic life, which is determined at 40 years. Installations’ and fixed fittings’ economic lifetime are determined at 3-10 years, depending on type. Further amortisation and write-downs are made when deemed necessary.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Receivables</td></tr><tr><td colspan="1">Receivables are recognised at cost price corresponding to nominal value. Provisions for bad debt are made based on individual assessment.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Dividend</td></tr><tr><td colspan="1">Proposed dividend for the year is presented separately in equity.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Provisions</td></tr><tr><td colspan="1">Provisions are recognised when the Company has a current legal constructive obligation. Provisions are recognised on the basis of best estimates.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Deferred tax</td></tr><tr><td colspan="1">Deferred tax is calculated based on the difference between carrying amount and tax value of assets and liabilities.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Payables</td></tr><tr><td colspan="1">Payables are recognised at amortised cost price corresponding to nominal value.</td></tr></table> 3285000 699000 2092000 493000 0 493000 569000 -75000 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="1" align="left" valign="middle" ></td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Amounts in DKK 1,000</td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ></td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Other external costs</b></td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Neither Management nor the Board of Directors have received remuneration. The Company has no employees, as staff is employed by Rederiet A.P. Møller A/S.</td></tr><tr><td colspan="1"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="4" align="left" valign="middle" ><b>Tax</b></td></tr><tr><td colspan="4"></td></tr><tr><td width="80%" colspan="3" align="left" valign="middle" >Current tax on profit for the year</td><td width="20%" align="right" valign="middle" >569</td></tr><tr><td width="80%" colspan="3" align="left" valign="middle" >Adjustment of current tax for prior years</td><td width="20%" align="right" valign="middle" >0</td></tr><tr><td colspan="4"></td></tr><tr><td width="80%" colspan="3" align="left" valign="middle" ><b>Total tax expense</b></td><td width="20%" align="right" valign="middle" ><b>569</b></td></tr><tr><td colspan="4"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="4" align="left" valign="middle" ><b>Property, plant and equipment</b></td></tr><tr><td colspan="4"></td></tr><tr><td width="80%" colspan="3" align="left" valign="middle" ><b>Cost</b></td><td width="20%" colspan="1" align="right" valign="middle" >Land and building</td></tr><tr><td colspan="4"></td></tr><tr><td width="80%" colspan="3" align="left" valign="middle" >Addition during the year</td><td width="20%" align="right" valign="middle" >442.437</td></tr><tr><td width="40%" ></td><td width="20%" ></td><td width="20%" ></td><td width="20%" align="right" valign="middle" ><b>442.437</b></td></tr><tr><td colspan="4"></td></tr><tr><td width="100%" colspan="4" align="left" valign="middle" ><b>Depreciation and impairment losses</b></td></tr><tr><td colspan="4"></td></tr><tr><td width="80%" colspan="3" align="left" valign="middle" >Depreciation for the year</td><td width="20%" align="right" valign="middle" >2.092</td></tr><tr><td width="80%" colspan="3" align="left" valign="middle" ><b>.31 december 2020</b></td><td width="20%" align="right" valign="middle" ><b>2.092</b></td></tr><tr><td colspan="4"></td></tr><tr><td width="100%" colspan="4" align="left" valign="middle" ><b>Carrying amount</b></td></tr><tr><td colspan="4"></td></tr><tr><td width="80%" colspan="3" align="left" valign="middle" ><b>.1 January 2020</b></td><td width="20%" align="right" valign="middle" ><b>0</b></td></tr><tr><td colspan="4"></td></tr><tr><td width="80%" colspan="3" align="left" valign="middle" ><b>.31 december 2020</b></td><td width="20%" align="right" valign="middle" ><b>440.344</b></td></tr><tr><td colspan="4"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="4" align="left" valign="middle" ><b>Equity</b></td></tr><tr><td colspan="4"></td></tr><tr><td width="40%" ></td><td width="20%" colspan="1" align="right" valign="middle" >Company capital</td><td width="20%" colspan="1" align="right" valign="middle" >Retained earnings.</td><td width="20%" colspan="1" align="right" valign="middle" >Total</td></tr><tr><td colspan="4"></td></tr><tr><td width="40%" colspan="1" align="left" valign="middle" >.1 January 2020</td><td width="20%" align="right" valign="middle" >500</td><td width="20%" align="right" valign="middle" >-5</td><td width="20%" align="right" valign="middle" >495</td></tr><tr><td width="40%" colspan="1" align="left" valign="middle" >Capital increase</td><td width="20%" align="right" valign="middle" >5.000</td><td width="20%" align="right" valign="middle" >450.000</td><td width="20%" align="right" valign="middle" >455.000</td></tr><tr><td width="60%" colspan="2" align="left" valign="middle" >Profit for the year</td><td width="20%" align="right" valign="middle" >-75</td><td width="20%" align="right" valign="middle" >-75</td></tr><tr><td colspan="4"></td></tr><tr><td width="40%" colspan="1" align="left" valign="middle" ><b>.31 december 2020</b></td><td width="20%" align="right" valign="middle" ><b>5.500</b></td><td width="20%" align="right" valign="middle" ><b>449.920</b></td><td width="20%" align="right" valign="middle" ><b>455.420</b></td></tr><tr><td colspan="4"></td></tr><tr><td width="100%" colspan="4" align="left" valign="middle" >The shared capital is divided into 11 shares of DKK 500,000, in 2020 capital increase of DKK 5,000,000 at premium rate. No shares carry special rights. Maersk Property A/S, Copenhagen holds the full share capital.</td></tr><tr><td colspan="4"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Contingent liabilities</b></td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The Company is jointly taxed with other Danish companies in the A.P. Møller Holding A/S Group. The Company is together with the other companies in the joint taxation scheme jointly and severally liable for taxes payable, etc. in Denmark.</td></tr><tr><td colspan="1"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Related parties</b></td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Maersk Property A/S has control over the Company. The Company is included in the consolidated accounts of A.P. Møller – Mærsk A/S as well as A.P. Møller Holding A/S. Related parties include all other companies in the A.P. Møller – Mærsk A/S Group.</td></tr><tr><td colspan="1"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Subsequent events</b></td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >No subsequent events significantly influencing the financial year 2020 have taken place.</td></tr></table> Årsrapport 33771231 PricewaterhouseCoopers Statsautoriseret Revisionsanpartnerselskab Strandvejen 44 2900 Hellerup xWizard version 1.1.1037.0, by EasyX Aps. www.easyx.eu 2019-01-01 2019-12-31 Ingen bistand 0 Andreas Sørensen Caroline Pontoppidan (chairman) Mette Christensen Michael Villi Møller 0 3000 0 -3000 0 -3000 0 -3000 -75000 -3000 440344000 440344000 440344000 32274000 3285000 35559000 35559000 475904000 5500000 449920000 455420000 19915000 569000 20484000 20484000 475904000 0 0 0 495000 0 495000 495000 495000 500000 -5000 495000 0 0 0 0 495000