308243932015-07-012016-12-31308243932016-12-31308243932015-06-30308243932014-12-31308243932013-07-012014-12-31308243932014-07-012015-06-30308243932016-12-31fsa:LandAndBuildingsMember308243932015-06-30fsa:LandAndBuildingsMember308243932014-12-31fsa:LandAndBuildingsMember308243932016-12-31fsa:FixturesFittingsToolsAndEquipmentMember308243932015-06-30fsa:FixturesFittingsToolsAndEquipmentMember308243932014-12-31fsa:FixturesFittingsToolsAndEquipmentMember308243932015-07-012016-12-31fsa:LandAndBuildingsMember308243932014-07-012015-06-30fsa:FixturesFittingsToolsAndEquipmentMember308243932015-07-012016-12-31fsa:FixturesFittingsToolsAndEquipmentMember308243932014-07-012015-06-30fsa:LandAndBuildingsMember308243932013-07-012014-12-31fsa:LandAndBuildingsMember308243932013-07-012014-12-31fsa:FixturesFittingsToolsAndEquipmentMember308243932015-06-30fsa:LongtermDebtToOtherCreditInstitutionsMember308243932014-12-31fsa:LongtermDebtToOtherCreditInstitutionsMember308243932015-06-30fsa:LongtermMortgageLoansMember308243932014-12-31fsa:LongtermMortgageLoansMember308243932015-07-012016-12-31fsa:RetainedEarningsMember308243932014-07-012015-06-30fsa:RetainedEarningsMember308243932013-07-012014-12-31fsa:RetainedEarningsMember308243932015-07-012016-12-31fsa:RetainedEarningsMember308243932014-07-012015-06-30fsa:RetainedEarningsMember308243932013-07-012014-12-31fsa:RetainedEarningsMember308243932016-12-31fsa:ContributedCapitalMember308243932015-06-30fsa:ContributedCapitalMember308243932014-12-31fsa:ContributedCapitalMember308243932016-12-31fsa:RetainedEarningsMember308243932015-06-30fsa:RetainedEarningsMember308243932014-12-31fsa:RetainedEarningsMember308243932015-07-012016-12-31Revisionsvirksomhed 01308243932014-12-31fsa:ClassesOfShorttermOtherPayablesMember308243932015-07-012016-12-31Revisionsvirksomhed 02308243932015-07-012016-12-31Revisionsvirksomhed 01 - Revisor 01iso4217:DKKThe Company’s main activity, which consisted in construction and leasing of rael estate, was discontinued at last year-end 2016, after which there has been no activity.No uncertainties are related to recognition and measurement of the assets and liabilities in the liquidation balance sheet. The term within which creditors can file a claim expires 21.02.2017. No claims have been received as of today which have not been recognized in the Liquidation Financial Statements as a liability.As stated in note 1, the Company entered into liquidation according to the rules of liquidation of solvent limited liability companies after a resolution passed at an extraordinary General Meeting on 21.11.2016. As of 21.11.2016 there were published statutory notice, after which the Company’s creditors were encouraged within 3 months to submit their claims. The Liquidation Financial Statements comprise the period 01.07.2016 – 31.12.2016. The loss for the period of 28.467 t.dkk before tax is considered as expected taking into account that the Company is being liquidated. During the financial year the company has recognized an impairment loss regarding the building. The write-down is made as a consequence of change in use of the building after the company was bought by an external party. As a result of the change in use of the building there was recognized an impairment loss of 29.301 t.dkk. The Company has during the period received a tax free contribution from the Parent Company amounting to 27.874 t.dkk. The liquidation account as of 31.12.2016 amounts to 8.202 t.dkk which will be distributed to the owners after final liquidation.No events have occurred after the balance sheet date to this date, which would influence the evaluation of this annual report.The Liquidator has today considered and approved the annual report of KR 1480 ApS in liquidation for the financial year 01.07.2015 - 31.12.2016.The annual report is presented in accordance with the Danish Financial Statements Act. I recommend the annual report for adoption at the Annual General Meeting.I believe that the Liquidator’s commentary contains a fair review of the affairs and conditions referred to therein. 26572816198522165560924135213148082665225500561554672561545914995464991682665224141162264554156444546499164350552698522387429619852216565000485915325037301817667208144106516198800113674091089603108960324422522521250179600021755307916506265000306860534310261540502463733073222448160263768567922034897484-2531339244030123814033-2846666419548521200985This annual report has been presented in accordance with the provisions of the Danish Financial Statements Act governing reporting class B.Assets 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.The Company is in the course of liquidation according to the rules of solvent liquidation. The financial statements have been presented applying the accounting policies consistently with last year. However, recognition, measurement, classification and compilation of financial statements items etc. have not been performed allowing for the realizability of the Company’s assets and laibilities. As the entity has been in the process of liquidation during the financial year the comparison figures are not comparable.Land, buildings and installations are measured at cost and less depreciation and write-downs regarding buildings. Other fixtures and fittings, tools and equipment are measured at cost, less deductions for depreciation and write-downs. Cost comprises the acquisition price, costs directly attributable to the acquisition and costs for preparing the asset in question until such time as it is ready to be put into operation. The basis of depreciation is cost less estimated residual value after the end of the asset’s useful life. Depreciation is calculated on a straight-lline basis from the following assessment of the asset’s useful lives: Buildings (expected residual value 50%) 50 years Other fixtures and fittings, tools and equipment 5 years Tangible asset’s are written down to the lower of recoverable amount and carrying amount. Receivables are measured at amortised cost, usually equalling nominal value less writedowns for bad and doubtful debts. Deferred tax is recognised on all temporary differences between the carrying amount and tax-based value of assets and liabilities, for which the tax-based value of assets 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. Current tax payable or receivable is recognised in the balance sheet, stated as tax computed on this year's taxable income, adjusted for prepaid tax. Cash comprises bank deposits.05712265457122654021914101756354514096-57636750-21914100-2966210-24727380-1756355-175635429300756659295116016329262611872371At the time of borrowing, mortgage debt to mortgage credit institutions is measured at cost which corresponds to the proceeds received less transaction costs incurred. Mortgage debt is subsequently measured at amortised cost. This means that the difference between the proceeds at the time of borrowing and the nominal repayable amount of the loan is recognised in the income statement as a financial expense over the term of the loan applying the effective interest method.Other financial liabilities are measured at amortised cost, which usually corresponds to nominal value.Revenue comprise rental income which is recognized as the rental accrues. Other external expenses comprise expenses incurred for the Company’s administrative functions.Other financial income comprises interest income as well as tax relief under the Danish Tax Prepayment Scheme. Other financial expenses comprises interest expenses, the interest portion of realised and unrealised capital gains and losses on securities, payables and expenses regarding intercompany payables as well as tax surcharge under the Danish Tax Prepayment Scheme.Tax for the year/period, consisting of current tax for the year and any changes in deferred tax, is recognised in the income statement by the proportion attributable to the profit or loss for the year/period. Current tax payable or receivable is recognised in the balance sheet, stated as tax calculated on this year’s/periods income, adjusted for any tax already paid. The Company is jointly taxed with the parent and all of its Danish subsidiaries. The current Danish income tax is allocated among the jointly taxed companies proportionally to their taxable income (full allocation with a refund concerning tax losses). Depreciation, amortization and impairment losses relating to tangible assets comprise amortisation, depreciation and impairment losses for the financial year/period, calculated on the basis of residual values and useful lives of the individual assets and impairment testing as well as gains and losses from the sale of tangible assets. 150000015000009422521021250501519622206876710058751022949123855514422851614736-238742941092-238033-285922739159924727326985230824393KR 1480 ApS in liquidationAarhus2017-05-30Christoffer FodeIn my opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.12.2016 and of the results of its financial performance for the financial year 01.07.2015 - 31.12.2016.2017-05-30AarhusThe company is part of a Danish joint taxation with Zitcom Group ApS as the tax principal. According to the joint taxation provisions of the Danish Corporation Tax Act, the Company is liable from the financial year 2012/13 for income taxes etc. For the jointly taxed enterprises and from 1 July 2012 also for obligations, if any, relating to the withholding of tax on interest, royalties and dividend for these enterprises. The total net tax liability is incorporated in the accounts for Zitcom Group ApS. 5. Liquidation of the Company The Company entered into liquidation according to the rules of liquidation of solvent limited liability companies after a resolution passed at an extraordinary General Meeting on 21.11.2016. Recognition, measurement, classification and compilation of financial statement items etc. have been performed allowing for the realizability of the Company’s assets and liabilities. 33963556Deloitte Statsautoriseret RevisionspartnerselskabCity Tower, Værkmestergade 8000 Aarhus C5459149954649916826652255005615546705618201522355485618299151250001250001250008076522342985617049152859227246762828592272467628249556112686766365000236359212350535570689945128380-232200081522161119174527679123089632105595494472845742-52466564326919240-2322000815221611189745-2322000815221611191745-7201-2322000815221611189745125000125000125000807652234298561704915Management 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. 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: 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. 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. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management. 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. 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. 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 of Accountants' Code of Ethics for Professional Accountants (IESBA Code) and the additional requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.We have audited the financial statements of KR 1480 ApS in liquidation for the financial year 01.07.2015 - 31.12.2016, which comprise the income statement, balance sheet 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 31.12.2016 and of the results of its operations for the financial year 01.07.2015 - 31.12.2016 in accordance with the Danish Financial Statements Act. We refer to the section ‘Changes in accounting policies’ under Accounting policies in the financial statements, which states that the Board of Directors has planned to liquidate the Company in the course of 2017. As a result thereof, the accounting policies have been changed compared to previous years so that the financial statements are presented using the realisation principle to the effect that recognition, measurement, classification and preparation of financial statement items etc. have been made taking into account the realisation of Company's assets and liabilities. 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.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. The Company is in the course of liquidation according to the rules of solvent liquidation. The financial statements have been presented applying the accounting policies consistently with last year. However, recognition, measurement, classification and compilation of financial statements items etc. have not been performed allowing for the realizability of the Company’s assets and laibilities. As the entity has been in the process of liquidation during the financial year the comparison figures are not comparable.Årsrapport4350555415644454649916Regnskabsklasse BTo the shareholders of KR 1480 ApS in liquidationAarhus2017-05-30Silkeborgvej28000Aarhus CChristoffer FodeLiquidator33963556Deloitte Statsautoriseret RevisionspartnerselskabCity Tower, Værkmestergade28000Aarhus C27873875Revisionspåtegning-2322000815221611191745277946260056451000State Authorised Public AccountantMichael Bach89 41 41 412015-07-012016-12-312015-06-302014-07-01