iso4217:DKKxbrli:pure368992712019-01-012019-12-31368992712019-01-012019-12-311368992712019-01-012019-12-311368992712018-01-012018-12-31368992712019-01-012019-12-31fsa:ProposedDividendRecognisedInEquityMember368992712018-01-012018-12-31fsa:ProposedDividendRecognisedInEquityMember368992712019-01-012019-12-31fsa:RetainedEarningsMember368992712018-01-012018-12-31fsa:RetainedEarningsMember368992712019-12-31368992712018-12-31368992712019-12-31fsa:FixturesFittingsToolsAndEquipmentMember368992712018-12-31fsa:FixturesFittingsToolsAndEquipmentMember368992712019-01-01fsa:ContributedCapitalMember368992712018-01-01fsa:ContributedCapitalMember368992712019-12-31fsa:ContributedCapitalMember368992712018-12-31fsa:ContributedCapitalMember368992712019-01-01fsa:RetainedEarningsMember368992712018-01-01fsa:RetainedEarningsMember368992712019-12-31fsa:RetainedEarningsMember368992712018-12-31fsa:RetainedEarningsMember368992712019-01-01fsa:ProposedDividendRecognisedInEquityMember368992712018-01-01fsa:ProposedDividendRecognisedInEquityMember368992712019-12-31fsa:ProposedDividendRecognisedInEquityMember368992712018-12-31fsa:ProposedDividendRecognisedInEquityMember368992712019-01-012019-12-31fsa:RetainedEarningsMember368992712018-01-012018-12-31fsa:RetainedEarningsMember368992712019-01-012019-12-31fsa:ProposedDividendRecognisedInEquityMember368992712018-01-012018-12-31fsa:ProposedDividendRecognisedInEquityMember368992712019-01-01fsa:FixturesFittingsToolsAndEquipmentMember368992712018-01-01fsa:FixturesFittingsToolsAndEquipmentMember368992712019-01-012019-12-31fsa:FixturesFittingsToolsAndEquipmentMember368992712018-01-012018-12-31fsa:FixturesFittingsToolsAndEquipmentMemberAnnual reportAuditor's reports (Other non-assurance reports)falseReporting class BtruefalsetrueTX Copenhagen ApSBernstoffsgade161577København KDanmarkDK368992712015-05-20Copenhagen52019-01-012019-12-312018-01-012018-12-312020-06-08Sten SenkelSten SenkelKallermann Revision A/S - statsautoriseret revisionsfirmaStationspladsen1 og 33000HelsingørDanmarkDK30195264Kallermann Revision A/S - statsautoriseret revisionsfirmaStationspladsen 1 og 33000 Helsingør30195264The Executive Board have today considered and approved the annual report for the financial year 1 January - 31 December 2019 for TX Copenhagen ApS.The annual report is presented in accordance with the Danish Financial Statements Act.In my opinion the financial statements give a true and fair view of the Company's financial position at 31 December 2019 and of its financial performance for the financial year 1 January - 31 December 2019.The Company has deselected audit. The conditions for this are still fulfilled.I believe that the management commentary contains a fair review of the affairs and conditions referred to therein.Copenhagen2020-06-08To the Management in TX Copenhagen ApSWe have drawn up the annual report for TX Copenhagen ApS for the financial year 1 January - 31 December 2019 on basis on the Company’s bookkeeping and further information you have provided us with.<br/><br/>The annual report comprises accounting policies, income statement, balance sheet, statement on changes in equity and notes.<br/><br/>We have carried out the assignment in accordance with ISRS 4410, Assignments concerning drawing up of financial information.<br/><br/>We have used our professional expertise in assisting you in completing and presenting the annual report according to the Danish Financial Statements Act. We have complied with the relevant conditions in revisorloven (auditing law) and FSR – danske revisorers Etiske regler for revisorer (Danish auditor’s ethical rules for auditors), including principles concerning integrity, objectivity, professional expertise and necessary care.<br/><br/>The annual report and the accuracy and completeness of the information used in connection with preparation of the annual report, are your responsibility.<br/><br/>As an assignment concerning preparation of financial information is not a statement involving security we are not obliged to verify the accuracy or the completeness of the information you have provided us with in order to drawing up the annual report. Therefore we do not draw any audit or review conclusion on whether the annual report has been prepared in accordance with the Danish Financial Statements Act.Elsinore2020-06-08Morten BjerregaardState Authorized Public Accountantmne34299The Company’s primary activities are trading with precious metal and services related thereto.The result for the year shows a profit of 410.789 DKK, which is considered to be satisfactory. The equity amounts to 1.176.786 DKK at 31 December 2019.No events have occurred after the balance sheet date to this date, which would influence the evaluation of this annual report.This annual report of TX Copenhagen ApS for 2019 has been presented in accordance with the provisions of the Danish Financial Statements Act governing reporting class B enterprises with additional choice of a few rules from class C enterprises.The accounting policies applied for these financial statements are consistent with those applied last year.On initial recognition, transactions denominated in foreign currencies are translated at the exchange rates at the transaction date. Foreign exchange differences arising between the exchange rates at the transaction date and the date of payment are recognized in the income statement as financial income or expenses.<br/><br/>Receivables, payables and other monetary items denominated in foreign currencies are translated using the exchange rate at the balance sheet date. Exchange differences that arise between the rate at the transaction date and the one in effect at the payment date or the rate at the balance sheet date are recognized in the income statement as financial income or financial expenses.<br/><br/>Long-term assets purchased in foreign currency are translated at the exchange rate at the transaction date.Revenue from sales of commodities and end products, which comprise precious metals, is recognized in the income statement provided that delivery and transfer of risk to the buyer has taken place before year end and that the income can be reliably measured and is expected to be received. The time for transfer of the most significant advantages and risks is based on the standardized delivery terms based on incoterms(R) 2010. Revenue from sales of goods, where delivery on buyer’s request is postponed, is recognized in the income, when the ownership of the goods passes to buyer.<br/><br/>Revenue is measured to fair value of the agreed fee ex. VAT and taxes charged on behalf of third parties. All discounts granted in connection with the sale are recognized in the revenue.With reference to the Danish Financial Statements Act section 32 revenue with deduction of cost of sales and external cost is condensed into one item called gross profit.Other external expenses comprise expenses for distribution, sale, marketing, bad debts, operational costs etc.Financial income and expenses comprise interest income and expense, leasing costs, gains and losses on securities, payables and transactions denominated in foreign currencies, amortisation of financial assets and liabilities as well as surcharges and refunds under the on-account tax scheme, etc.Tax for the year, which consists of current tax for the year and changes in deferred tax, is recognized in the income statement by the portion attributable to the profit for the year and recognized directly in equity by the portion attributable to entries directly in equity. The tax expense relating to the profit/loss for the year is recognized in the income statement, and the tax expense relating to changes directly recognized in equity is recognized directly in equity.Other fixtures and fittings, tools and equipment are measured at cost less accumulated depreciation and impairment losses. The basis of depreciation is cost less estimated residual value after the end of useful life. No depreciations are made on building sites.<br/><br/>Cost comprises the acquisition price and costs directly attributable to the acquisition until the time when it is ready to be put into operation. Concerning self-constructed assets the cost comprises direct and indirectly expenses to materials, components, subcontractors, wages and borrowing costs from specific and general borrowing, which directly relate to the construction of the single asset.<br/><br/>Where individual components of an item of property, plant and equipment have different useful lives, they are accounted for as separate items, which are depreciated separately.<br/><br/>Straight-line depreciation is made on the basis of the following estimated useful lives of the assets:<br/><br/>Other fixtures and fittings, tools and equipment, 5 years<br/><br/>The basis of depreciation is based on the residual value of the asset at the end of its useful life and is reduced by impairment losses, if any. The depreciation period and the residual value are determined at the time of acquisition and are re-assessed every year. Where the residual value exceeds the carrying amount of the asset, no further depreciation charges are recognized.<br/><br/>In case of changes in the depreciation period or the residual value, the effect on the amortisation charges is recognized prospectively as a change in accounting estimates.<br/><br/>Gains and losses on the disposal of property, plant and equipment are determined as the difference between the sales price less disposal costs and the carrying amount at the date of disposal. Gains and losses are recognized in the income statement as other operating income and other operating costs, respectively.Inventories are measured at cost in accordance with the FIFO method. Where the net realisable value is lower than cost, inventories are written down to this lower value.<br/><br/>Goods for resale and raw materials and consumables are measured at cost, comprising purchase price plus delivery costs.<br/><br/>The net realisable value of inventories is calculated as the sales amount less costs of completion and costs necessary to make the sale and is determined taking into account marketability, obsolescence and development in expected sales price.Receivables are measured at amortised cost, usually equalling nominal value less provisions for bad debts.Deferred tax is measured using the balance sheet liability method on all temporary differences between the carrying amount and the tax base of assets and liabilities. However, deferred tax is not recognized on temporary differences relating to goodwill which is not deductible for tax purposes and on office premises and other items where temporary differences, apart from business combinations, arise at the date of acquisition without affecting either profit/loss for the year or taxable income.<br/>Deferred tax is measured on basis of the tax rules and tax rates, which are valid according to the legislation on the balance sheet date, when deferred tax is expected to become actual tax. Where alternative tax rules can be applied to determine the tax base, deferred tax is measured based on the planned use of the asset or settlement of the liability, respectively.<br/><br/>Deferred tax assets, including the tax base of tax loss carryforwards, are recognized under other non-current assets at the expected value of their utilisation; either as a set-off against tax on future income or as a set-off against deferred tax liabilities in the same legal tax entity and jurisdiction.<br/><br/>Current tax receivable and payable is recognized in the balance sheet as tax computed on the taxable income for the year, adjusted for tax on the taxable income of prior years and for tax paid on account. Allowances under the tax prepayment scheme are included in the income statement as financial items. Liabilities are measured at net realisable value.5794739384683040810267549065928201001755023835531515904366120726193528410789710838553000355489710838111368141776111368141776111368141776111368141776512355123571059000614694000013252840000122110482542414048679166591516235105843580000800001041486685997553000117678676599780000800008000080000685997-248411041486685997005530005000600050006000446261866448000520001217261874521200972832233444928643833444928643815162351058435355489710838553000121726187528-100060001207261935281520430152043152043015204310267040675102673040810267None.None.