273743012015-01-012015-12-31273743012015-01-012015-12-311273743012015-01-012015-12-31273743012015-01-012015-12-31273743012015-01-012015-12-31273743012015-01-012015-12-31273743012015-01-012015-12-31273743012015-01-012015-12-31273743012015-01-012015-12-31273743012015-01-012015-12-31273743012015-01-012015-12-31273743012015-01-012015-12-31273743012015-01-012015-12-31273743012015-01-012015-12-31273743012015-12-31xbrli:purexbrli:pureiso4217:DKKxbrli:shares To the shareholders of Burger King 5 ApS Report on extended review of Financial Statements We have conducted an extended review of the Financial Statements of Burger King 5 ApS for the financial year 2015 . The Financial Statements that comprise Accounting Policies, Income Statement, Balance Sheet and Notes are prepared in accordance with the Danish Financial Statements Act. København K, 12 April 2016 4AUDIT GODKENDT REVISIONSANPARTSSELSKAB Jan Andresen Registeret revisor, FSR - Danske Revisorer Opinion Based on our work, it is our opinion that the Financial Statements give a true and fair view of the assets, liabilities and financial position of the Company at 31 December 2015 and of the results of the Company's operations for the financial year1 January 2015 - 31 December 2015 in accordance with the Danish Financial Statements Act. 2016-04-12København KAuditor's responsibility Our responsibility is to express an opinion on the Financial Statements. We have conducted our extended review in accordance with the Danish Business Authority's report standard for small enterprises and Danish Auditors' (FSR) standard on extended review of financial statements prepared in accordance with the Danish Financial Statements Act. This requires that we comply with the Danish Act on Auditors and Audit Firms as well as Danish Auditors' (FSR) ethical rules and plan and perform procedures with a view to obtaining limited assurance for our opinion on the Financial Statements and, in addition, perform supplementary procedures specifically required with a view to obtain additional assurance for our opinion. An extended review primarily includes making inquiries to Management and, where appropriate, to others in the company, analytical procedures and specifically required supplementary procedures as well as an assessment of the proof obtained. The scope of procedures conducted in an extended review is smaller than for an audit, and we therefore do no express any audit opinion on the Financial Statements. Our extended review has not resulted in any qualification. Management's responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of the Financial Statements in accordance with the Danish Financial Statements Act, and for such internal controls as Management determines is necessary to enable preparation of Financial Statements that are free from material misstatements, whether due to fraud or error. Statement on Management's Review We have read Management's Review in accordance with the Danish Financial Statements Act. We have not performed any procedures additional to the extended review of the Financial Statements. On this basis, in our opinion, the information provided in the Management's Review is in accordance with the Financial Statements. , We have read Management's Review in accordance with the Danish Financial Statements Act. We have not performed any procedures additional to the extended review of the Financial Statements. On this basis, in our opinion, the information provided in the Management's Review is in accordance with the Financial Statements. [Emphasis of matter related to other matters] Executive Board Riaz Ahmed Butt Manager Riaz Ahmed ButtManagerErklæring om udvidet gennemgang0Regnskabsklasse B Reporting Class The Annual Report of Burger King 5 ApS for 2015 has been presented in accordance with the provisions of the Danish Financial Statements Act applying to enterprises of reporting class B. The accounting policies applied remain unchanged from last year. Reporting currency The Annual Report is presented in Danish kroner. General Information Basis of recognition and measurement Income is recognised in the Income Statement as it is earned, including value adjustments of financial assets and liabilities that are measured at fair value or amortised cost. Moreover, all expenses incurred to achieve the earnings for the year are recognised in the Income Statement, including depreciation, amortisation, impairment losses and provisions as well as reversals due to changed accounting estimates of amounts that have previously been recognised in the Income Statement. Assets are recognised in the Balance Sheet when it is probable that future economic benefits attributable to the asset will accrue to the Company, and the value of the asset can be measured reliably. Liabilities are recognised in the Balance Sheet when it is probable that future economic benefits attributable to the asset will flow out of the Company, and the value of the liability can be measured reliably. At initial recognition, assets and liabilities are measured at cost. Subsequently, assets and liabilities are measured as described for each item below. Certain financial assets and liabilities are measured at amortised cost, which involves the recognition of a constant effective interest rate over the term. Amortised cost is calculated as original cost less repayments and with the addition/deduction of the accumulated amortisation of the difference between the cost and the nominal amount. This way, exchange losses and gains are allocated over the term. In connection with recognition and measurement, consideration is given to predictable losses and risks occurring prior to the presentation of the Annual Report, i.e. losses and risks which prove or disprove matters which exist at the balance sheet date. Income Statement Gross profit/loss The Company has decided to aggregate certain items of the Income Statement in accordance with the provisions of Section 32 of the Danish Financial Statements Act. Revenue Income from the sale of goods is recognised in the Income Statement from the date of delivery and when the risk has passed to the buyer if it is possible to calculate the income reliably. The revenue is calculated exclusive of VAT, charges and discounts. Other external expenses Other external expenses comprise expenses regarding sale and administration. Staff expenses Staff expenses comprise wages and salaries, pensions and social security costs. Amortisation and impairment of tangible and intangible assets Amortisation and impairment of intangible and tangible assets has been performed based on a continuing assessment of the useful life of the assets in the Company. Non-current assets are amortised on a straight line basis, based on cost, on the basis of the following assessment of useful life and residual values: Useful life Residual value Completed development projects 5 years 0% Consessions, patents, licens, trademarks and other similar rights 10 years 0% Goodwill 5 years 0% Properties 20-50 years 0% Plant and machinery 5-10 years 0% Other fixtures and fittings, tools and equipment 3-10 years 0% Leasehold improvements 5 years 0% Land is not amortised. Profit or loss resulting from the sale of intangible or tangible assets is determined as the difference between the selling price less selling costs and the carrying amount at the date of sale, and is recognised in the Income Statement under other operating income or expenses. Financial income and expenses Financial income and expenses are recognised in the Income Statement with the amounts that concern the financial year. Financial income and expenses include interest income and expenses, realised and unrealised capital gains and losses regarding securities, debt and foreign currency transactions, dividends received from other equity investments, amortisation of financial assets and liabilities as well as surcharges and allowances under the tax repayment scheme. Tax on net profit/loss for the year Tax on net profit/loss for the year comprises current tax on expected taxable income of the year and the year's adjustment of deferred tax less the part of the tax of the year that relates to changes in equity. Current and deferred tax regarding changes in equity is recognised directly in equity. Balance Sheet Tangible assets Tangible assets are measured at cost plus revaluations, if any, and less accumulated amortisation and impairment losses. Cost comprises the purchase price and costs directly attributable to the purchase until the date when the asset is available for use. Other investments Inventories Inventories are measured at cost on the basis of the FIFO principle or at the net realisable value if the latter is lower. Raw materials and consumables are measured at cost, comprising purchase price plus delivery costs. Merchandise are measured at cost comprising purchase price plus delivery costs. Receivables Receivables are measured at amortised cost which usually corresponds to the nominal value. The value is reduced by write-downs for expected bad debts. Cash and cash equivalents Cash and cash equivalents comprise cash at bank and in hand as well as short-term securities with a term of less than three months which can be converted directly into cash at bank and in hand and involve only an insignificant risk of value changes. Deferred tax Deferred tax and the associated adjustments for the year are determined according to the balance-sheet liability method as the tax base of all temporary differences between carrying amounts and the tax bases of assets and liabilities. Deferred tax assets, including the tax base of tax losses allowed for carryforward, are recognised at the value at which they are expected to be used, either by elimination in tax on future earnings or by set-off against deferred tax liabilities in enterprises within the same legal entity and jurisdiction. Deferred tax is measured on the basis of the tax rules and tax rates that will be effective under the legislation applicable at the balance sheet date when the deferred tax is expected to crystallise as current tax. Financial liabilities Fixed-rate loans such as mortgage loans and loans from credit institutions are recognised initially at the proceeds received less transaction expenses incurred. In subsequent periods, loans are measured at amortised cost so that the difference between the proceeds and the nominal value is recognised in the Income Statement as an interest expense over the term of the loan. Other liabilities are measured at amortised cost which usually corresponds to the nominal value. Contingent assets and liabilities Contingent assets and liabilities are not recognised in the Balance Sheet but appear only in the notes. 9. Contingent liabilities No contingent liabilities exist at the balance sheet date. 1. Employee benefits expense 2015 2014 Wages and salaries 2.405.066 2.468.993 Social security contributions 72.890 54.112 Other employee expense 130.702 -5.845 2.608.658 2.517.260 7. Statement of changes in equity Virksomhedskapital Overført resultat Forslag til udbytte I alt Equity, beginning balance 125.000 -1.971.499 0 -1.846.499 Dividend paid 2.000.000 0 0 2.000.000 Extraordinary dividend paid 0 80.231 0 80.231 2.125.000 -1.891.268 0 233.732 The share capital has remained unchanged for the last 5 years. 6. Inventories Inventories are stated as follows: Raw materials and consumables 78.091 102.772 Inventories in total 78.091 102.772 8. Long-term liabilities Due Due Due after 1 year within 1 year after 5 years Other payables 0 233.683 0 Payables to shareholders and management 329.873 0 329.873 329.873 233.683 329.873 10. Collaterals and securities No securities or mortgages exist at the balance sheet date. 2. Finance expenses Other finance expenses 321.909 463.968 321.909 463.968 5. Leasehold improvements Cost at the beginning of the year 4.163.889 4.163.889 Addition during the year, incl. improvements 129.450 43.000 Cost at the end of the year 4.293.339 4.206.889 Depreciation and amortisation at the beginning of the year -1.899.890 -1.498.692 Amortisation for the year -411.948 -401.198 Impairment losses and amortisation at the end of the year -2.311.838 -1.899.890 Carrying amount at the end of the year 1.981.501 2.306.999 , 4. Fixtures, fittings, tools and equipment Cost at the beginning of the year 1.372.802 1.329.802 Addition during the year, incl. improvements 0 43.000 Cost at the end of the year 1.372.802 1.372.802 Depreciation and amortisation at the beginning of the year -394.584 -240.393 Amortisation for the year -159.925 -154.191 Impairment losses and amortisation at the end of the year -554.509 -394.584 Carrying amount at the end of the year 818.293 978.218 3. Tax expense Udskudt skat -19.597 303.682 -19.597 303.682 0005230, Odense MGoldschmidtsvænget 62016-04-122003-10-012016-04-122737430134054657ÅrsrapportRiaz Ahmed ButtBurger King 5 ApS4AUDIT GODKENDT REVISIONSANPARTSSELSKAB2014-01-012014-12-31101, København2015-12-312015-01-01Exceptional circumstances No exceptional circumstances have affected recognition or measurement. Development in activities and financial matters The Company's Income Statement of the financial year 1. januar 2015 - 31. december 2015 shows a result of DKK 80.231 and the Balance Sheet at 31. december 2015 a balance sheet total of DKK 3.927.933 and an equity of DKK 233.732. The Company's principal activities The Company's principal activities consist in ... Post financial year events After the end of the financial year, no events have occurred which may change the financial position of the Company substantially. The Company's principal activities The Company's principal activities consist in ... Exceptional circumstances No exceptional circumstances have affected recognition or measurement. Development in activities and financial matters The Company's Income Statement of the financial year 1. januar 2015 - 31. december 2015 shows a result of DKK 80.231 and the Balance Sheet at 31. december 2015 a balance sheet total of DKK 3.927.933 and an equity of DKK 233.732. Post financial year events After the end of the financial year, no events have occurred which may change the financial position of the Company substantially. 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 assets, liabilities and financial position of the Company at 31 December 2015 and of the results of the Company's operations for the financial year 1 January 2015 - 31 December 2015. Today, Management has considered and adopted the Annual Report of Burger King 5 ApS for the financial year 1 January 2015 - 31 December 2015. In our opinion, the Management's Review includes a true and fair account of the matters addressed in the review. København K, 12 April 2016We recommend that the Annual Report be adopted at the Annual General Meeting. Today, Management has considered and adopted the Annual Report of Burger King 5 ApS for the financial year 1 January 2015 - 31 December 2015. 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 assets, liabilities and financial position of the Company at 31 December 2015 and of the results of the Company's operations for the financial year 1 January 2015 - 31 December 2015. In our opinion, the Management's Review includes a true and fair account of the matters addressed in the review. We recommend that the Annual Report be adopted at the Annual General Meeting. København K, 12 April 2016 Executive Board Riaz Ahmed Butt Manager