31269741 2014-01-01 2014-12-31 31269741 2014-01-01 2014-12-31 0 31269741 2013-01-01 2013-12-31 31269741 2013-01-01 2013-12-31 fsa:ProposedDividendRecognisedInLiabilitiesMember 31269741 2014-01-01 2014-12-31 fsa:RetainedEarningsMember 31269741 2013-01-01 2013-12-31 fsa:RetainedEarningsMember 31269741 2014-12-31 31269741 2013-12-31 iso4217:DKK Annual report 2015-09-16 camilla christiansen 31269741 Nybrogade 18 1203 København K 31269741 2014-01-01 2014-12-31 <p xmlns="http://www.w3.org/1999/xhtml">The annual report   has been prepared in confirmity with the Financial Statements Act</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml">The unaudited Annual Report  has been prepared in conformity with the Financial Statements Act</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;">The unaudited Annual Report has been prepared in conformity with the Financial Statements Act. The Board of Directors considers the conditions for not performing an audit to have been met.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;">In my opinion, the financial statements give a true and fair view of the Company's assets, equity, liabilities and financial position at 31. december 2014 and of its financial performance for the period 1. januar - 31. december 2014.</p> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;"> </p> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;"> <strong>Audit of financial statements</strong> </p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;">The Company's Management declares that the Company meets the requirements of section 135 of the Financial Statements Act and may therefore present unaudited financial statements. Management proposes to the General Meeting a resolution that the financial statements of the Company not be audited in future.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;"> <strong>Chairman's notes</strong> </p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;">The General Meeting has today discussed and adopted Management's proposal not to audit financial statements.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> Copenhagen 2015-09-16 Camilla Christiansen Direktør The annual report has been prepared in accordance with the regulation applying to Reporting class B. Reporting class B <h2 xmlns="http://www.w3.org/1999/xhtml">General</h2> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;">The financial statements of  Scanditrade K/S for the financial year 2014 have been prepared in conformity with the provisions of the Financial Statements Act on class B enterprises.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;">The accounting policies applied in the financial statements are consistent with those of the previous year. The reporting currency is euro.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;"> <strong>Recognition and measurement in general</strong> </p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;">The financial statements have been prepared under the historical cost convention.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;">Income is recognised in the income statement when earned. Value adjustments of financial assets and liabilities measured at fair value or amortised cost are also recognised in the income statement. Costs incurred to generate the earnings for the year are also recognised in the income statement, including amortisation, depreciation, impairment losses and provisions as well as reversals resulting from changed accounting estimates of amounts previously recognised in the income statement.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;">Assets are recognised in the balance sheet when it is probable that future financial benefits will flow to the Company and it is possible to obtain a reliable measurement of the individual assets.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;">Liabilities are recognised in the balance sheet when it is probable that future financial benefits will flow from the Company and it is possible to obtain a reliable measurement of the individual liabilities.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;">On initial recognition, assets and liabilities are measured at cost. Subsequently, assets and liabilities are measured as described for each item.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;">Anticipated losses and risks arising before the presentation of the financial statements and confirming or disconfirming facts and circumstances known at the reporting date are taken into consideration at recognition and measurement.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;">The functional currency used is euro. All other currencies are considered foreign currencies.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;"> <strong>Foreign currency translation</strong> </p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;">Foreign currency transactions are translated at the exchange rates ruling at the transaction dates. Gains and losses arising from movements between the exchange rates at the date of the individual transaction and the date of payment are recognised in the income statement as financial income or financial expenses.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <h2 xmlns="http://www.w3.org/1999/xhtml">Income statement</h2> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;"> <strong>General information</strong> </p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;">Certain income and expenses have been aggregated in the item designated 'Gross profit' with reference to section 32 of the Financial Statements Act.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;"> <strong>Gross profit</strong> </p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;">Gross profit is a combination of the items of 'Revenue', 'Change in inventories of finished goods, work in progress and goods for resale', 'Other operating income', 'Cost of raw materials and consumables' and 'Other external costs'.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;"> <strong>Administrative expenses</strong> </p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;">Administrative expenses include expenses for Management and administrative staff, office expenses, amortisation and depreciation, etc.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml"> <strong>Financial income and expenses</strong> </p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;">Financial income and expenses are recognised in the income statement based on the amounts which relate to the financial year. Financial income and expenses include interest revenue and expenses, finance charges in respect of finance leases, realised and unrealised capital gains and losses on securities, accounts payable and transactions in foreign currencies, repayment on mortgage loans, and surcharges and allowances under the tax prepayment scheme. Dividends from other equity investments are recognised as income in the financial year in which the dividends are declared.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <h2 xmlns="http://www.w3.org/1999/xhtml">Balance sheet</h2> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;"> <strong>Receivables</strong> </p> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;"> </p> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;">Receivables are measured at amortised cost, which normally corresponds to the nominal value. The value is reduced by an allowance for expected impairment losses.</p> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;"> </p> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;">Impairment of accounts receivable past due is established on individual assessment of receivables.</p> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;"> </p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;"> <strong>Cash and cash equivalents</strong> </p> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;"> </p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml" style="margin-left:1.0pt;">Cash and cash equivalents comprise the items of cash recognized under current assets and Bank overdrafts recognized under short- term debt..</p> <p xmlns="http://www.w3.org/1999/xhtml"> <img alt="billede" height="2" src="file:///C:/Users/WorkPC/AppData/Local/Temp/msohtmlclip1/01/clip_image001.png" width="625"/> </p> 493145 77631 493145 5062 284 488083 488083 77347 47066 488083 30281 488083 77347 437910 10000 0 437910 10000 90455 30281 528365 40281 528365 40281 10000 10000 488083 30281 498083 40281 30282 30282 30282 528365 40281 2013-01-01 2013-12-31 No audit assistance Camilla Christiansen Nybrogade 18 Copenhagen 1203