xbrli:pureiso4217:DKK142275472021-04-012022-03-31142275472021-04-012022-03-311142275472021-04-012022-03-311142275472021-04-012022-03-311142275472021-04-012022-03-312142275472021-04-012022-03-313142275472021-04-012022-03-31142275472020-04-012021-03-31142275472021-04-012022-03-31fsa:ProposedDividendRecognisedInEquityMember142275472020-04-012021-03-31fsa:ProposedDividendRecognisedInEquityMember142275472021-04-012022-03-31fsa:RetainedEarningsMember142275472020-04-012021-03-31fsa:RetainedEarningsMember142275472021-04-012022-03-31fsa:RetainedEarningsMember142275472021-04-012022-03-31fsa:ProposedDividendRecognisedInEquityMember142275472022-03-31142275472021-03-31142275472021-04-01fsa:ContributedCapitalMember142275472021-04-01fsa:RetainedEarningsMember142275472021-04-01fsa:ProposedDividendRecognisedInEquityMember142275472021-04-01142275472022-03-31fsa:ContributedCapitalMember142275472022-03-31fsa:RetainedEarningsMember142275472022-03-31fsa:ProposedDividendRecognisedInEquityMemberGrundlag for konklusionKonklusiontrue339635562020-04-012021-03-31Kolding60004Egtved AlléDeloitte Statsautoriseret RevisionspartnerselskabHorsensHorsens8700Regnskabsklasse BErklæring om udvidet gennemgang2022-03-312021-04-01<br /><br />4ErhvervsbyvejAmada Denmark A/S14227547339635562300 København SWeidekampsgade 6Deloitte Statsautoriseret RevisionspartnerselskabÅrsrapportThe Board of Directors and the Executive Board have today considered and approved the annual report of Amada Denmark A/S for the financial year 01.04.2021 - 31.03.2022.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 31.03.2022 and of the results of its operations for the financial year 01.04.2021 - 31.03.2022.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.Horsens2022-08-12Leo Joseph FeeneyAlan Michaek ParrottLeo Joseph FeeneyKoji TsuchimotoChairmanTo the shareholders of Amada Denmark A/SWe have performed an extended review of the financial statements of Amada Denmark A/S for the ​financial year 01.04.2021 - 31.03.2022, 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. ​Based on our extended review, in our opinion, the financial statements give a true and fair view of the Entity’s ​financial position at. 31.03.2022 and of the results of its operations for the financial year 01.04.2021 - 31.03.2022 in accordance with the Danish Financial Statements Act.We conducted our extended review in accordance with the assurance engagement standard for small enterprises as issued by the Danish Business Authority and the standard on extended review of financial statements prepared in accordance with the Danish Financial Statements Act as issued by FSR - Danish Auditors. Our responsibilities under those standards and requirements are further described in the ”Auditor’s responsibilities for the extended review of the financial statements” section. 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 evidence we have obtained is sufficient and appropriate to provide a basis for our conclusion.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, disclosing, as applicable, matters related to going concern, and using the going concern basis of accounting unless Management either intends to liquidate the Entity or to cease operations, or has no realistic alternative but to do so.Our responsibility is to express a conclusion on the financial statements. This requires that we plan and perform procedures to obtain limited assurance about our conclusion on the financial statements and that we also perform specifically required supplementary procedures for the purpose of obtaining additional assurance about our conclusion. An extended review consists of making inquiries, primarily of management and, if appropriate, of other entity personnel, performing analytical and the specifically required supplementary procedures as well as evaluating the evidence obtained. The procedures performed in an extended review are less in scope than in an audit, and accordingly we do not express an audit opinion on the financial statements.Management is responsible for the management commentary. Our conclusion 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 extended review 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 extended review 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 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.Kolding2022-08-12Ole Søndergaard Larsenmne11676State Authorised Public AccountantPrimary activitiesThe primary activities of the company are sale and service of machinery for processing of sheet-metal.Development in activities and financesThe result for the period shows a profit of DKK 5,456k against a profit last year of DKK 2,388k. The result for the year is satisfactory. Sales of machines have recovered well from the COVID-related downturn and are now at a higher level than before the pandemic. We have returned a satisfactory profit and are satisfied that the company has a stable operational base from which to build for the future. OutlookWe start FY2022/2023 with a strong order book, which is reflected in the budget which we have set. Like all companies, we are seeing the effect on rising input costs and supplier delays, but we do not expect this to have a significant impact on our business. Our goal is to conclude the year with a profit and maintain a robust, flexible company infrastructure. 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. 7946381753495855360102988175379541434542193629919457765661972931113275913123792031014513259656126280729045230045018897920699337404714888970053843062605154921067424754561742388358381932216718511636852716507163685238193222145242605792504272978239566333557329797541432979754142428631308971167949379261616356770850863918036263930125591892851023415869104131189454071215667302614019331003405710888846271237911480656755194111349966685543697436305639187500018750009614857797800538193221671851153091791152485618750007978005167185111524856187500096148573819322260372194901881209571586114158176648708145955323302371431833850513331714895149900518488267131049235257586967593815363350746968270431113898621424014296389862142401429655436974363056390-1671851-16718511 Staff costs2021/22 DKK2020/21 DKKWages and salaries11,149,8529,035,219Pension costs905,169873,917Other social security costs235,819209,554Other staff costs88,36326,44212,379,20310,145,132Average number of full-time employees181818182 Other financial expenses2021/22 DKK2020/21 DKKFinancial expenses from group enterprises37,47940,329Other interest expenses279,83498,395Exchange rate adjustments46,2910Other financial expenses10,44310,165374,047148,889<br />2021/22 DKK2020/21 DKKFinancial expenses from group enterprises37,47940,329Other interest expenses279,83498,395Exchange rate adjustments46,2910Other financial expenses10,44310,165374,047148,8893 Unrecognised rental and lease commitments2021/22 DKK2020/21 DKKLiabilities under rental or lease agreements until maturity in total1,558,4831,090,709The Company has a house lease with a 3 months' notice at a value of DKK 74k a month. 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.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.Foreign currency translationOn initial recognition, foreign currency transactions are translated applying the exchange rate at the transaction date. Receivables, payables and other monetary items denominated in foreign currencies that have not been settled at the balance sheet date are translated using the exchange rate at the balance sheet date. Exchange differences that arise between the rate at the transaction date and the rate in effect at the payment date, or the rate at the balance sheet date, are recognised in the income statement as financial income or financial expenses. Property, plant and equipment, intangible assets, inventories and other non-monetary assets that have been purchased in foreign currencies are translated using historical rates.RevenueRevenue from the sale of manufactured goods and goods for resale is recognised in the income statement when delivery is made and risk has passed to the buyer. Revenue 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.Other operating incomeOther operating income comprises income of a secondary nature as viewed in relation to the Entity’s primary activities, including rental income and gains from the sale of intangible assets and property, plant and equipment.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 premises, 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 plant and equipment and intangible assets comprise depreciation, amortisation and impairment losses for the financial year, and gains and losses from the sale of plant and equipment.Other financial incomeOther financial income comprises interest income, payables and transactions in foreign currencies, as well as tax relief under the Danish Tax Prepayment Scheme etc.Other financial expensesOther financial expenses comprise interest expenses, including interest expenses on payables to group enterprises, payables and transactions in foreign currencies, as well as tax surcharge under the Danish Tax Prepayment Scheme etc.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.Property, plant and equipmentOther fixtures and fittings, tools and equipment are measured at cost less accumulated depreciation and impairment losses. Cost comprises the acquisition price, costs directly attributable to the acquisition and preparation costs of the asset until the time when it is ready to be put into operation. For assets held under finance leases, cost is the lower of the asset’s fair value and present value of future lease payments. The basis of depreciation is cost less estimated residual value after the end of useful life. Straight-line depreciation is made on the basis of the following estimated useful lives of the assets:Other fixtures and fittings, tools and equipment3-10 yearsLeasehold improvements5-10 yearsFor leasehold improvements and assets subject to finance leases, the depreciation period cannot exceed the contract period. Estimated useful lives and residual values are reassessed annually. Items of property, plant and equipment 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.InventoriesInventories are measured at the lower of cost using the FIFO method and net realisable value. Cost consists of purchase price plus delivery costs. Cost of work in progress consists of costs of raw materials, consumables, direct labour costs. Financing costs are not included in cost. The net realisable value of inventories is calculated as the estimated selling price less completion costs and costs incurred to execute sale.PrepaymentsPrepayments comprise incurred costs relating to subsequent financial years. Prepayments are measured at cost.CashCash comprises cash in hand and bank deposits.DividendDividend is recognised as a liability at the time of adoption at the general meeting. Proposed dividend for the financial year is disclosed as a separate item in equity. Extraordinary dividend adopted in the financial year is recognised directly in equity when distributed and disclosed as a separate item in Management's proposal for distribution of profit/loss.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.Other provisionsOther provisions comprise anticipated costs of non-recourse guarantee commitments. Non-recourse guarantee commitments comprise commitments to remedy defects and deficiencies within the guarantee period.Lease liabilitiesLease commitments relating to assets held under finance leases are recognised in the balance sheet as liabilities other than provisions, and, at the time of inception of the lease, measured at the present value of future lease payments. Subsequent to initial recognition, lease commitments are measured at amortised cost. The difference between present value and nominal amount of the lease payments is recognised in the income statement as a financial expense over the term of the leases. Finance leases concern only contracts signed before 2012.<br />Operating leasesLease payments on operating leases are recognised on a straight-line basis in the income statement over the term of the lease. Operating leases concern only contracts signed in 2012 and later.Other financial liabilitiesOther financial liabilities are measured at amortised cost, which usually corresponds to nominal value.Prepayments received from customersPrepayments received from customers comprise amounts received from customers prior to delivery of the goods agreed or completion of the service agreed.Tax receivable or payableCurrent tax receivable or payable is recognised in the balance sheet, stated as tax computed on this year's taxable income, adjusted for prepaid tax.Deferred incomeDeferred income comprises income received for recognition in subsequent financial years. Deferred income is measured at cost.2022-08-15Alan Michael Parrott