27231675 2019-01-01 2019-12-31 27231675 2019-01-01 2019-12-31 0 27231675 2019-01-01 2019-12-31 0 27231675 2019-01-01 2019-12-31 1 27231675 2019-01-01 2019-12-31 2 27231675 2018-01-01 2018-12-31 27231675 2019-01-01 2019-12-31 fsa:RetainedEarningsMember 27231675 2018-01-01 2018-12-31 fsa:RetainedEarningsMember 27231675 2019-12-31 27231675 2018-12-31 27231675 2019-01-01 2019-12-31 fsa:AllTypesOfRelationsNumberOfEmployeesMember 27231675 2018-01-01 2018-12-31 fsa:AllTypesOfRelationsNumberOfEmployeesMember 27231675 2019-01-01 2019-12-31 0 27231675 2019-01-01 2019-12-31 1 iso4217:DKK xbrli:pure Regnskabsklasse B 2019-01-01 2019-12-31 DataFlight Europe A/S Knud Højgaards Vej 1 DK‑2860 Søborg + 45 70 22 82 92 + 45 70 22 45 25 www.dataflight.dk 27231675 Gladsaxe Lars Beck-Thomsen 2020-05-27 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Ledelsespåtegning</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Statement by Management</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Ledelsen har dags dato behandlet og godkendt årsrapporten for 1. januar – 31. december 2019 for DataFlight Europe A/S.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Today, Management have discussed and approved the annual report of DataFlight Europe A/S for the financial year 1 January – 31 December 2019.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Årsrapporten er aflagt i overensstemmelse med årsregnskabsloven.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">The annual report has been prepared in accordance with the Danish Financial Statement Act.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Det er vores opfattelse, at årsregnskabet giver et retvisende billede af selskabets aktiver, passiver og finansielle stilling pr. 31. december 2019 samt af resultatet af selskabets aktiviteter for perioden 1. januar – 31. december 2019.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">In our opinion, the financial statements give a true and fair view of the company’s financial position at 31 December 2019 and of the results of the company’s operations for the period 1 January – 31 December 2019.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Det er endvidere vores opfattelse, at ledelsesberetningen indeholder en retvisende redegørelse for udviklingen i selskabets aktiviteter og økonomiske forhold, årets resultat og for selskabets finansielle stilling.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Further, in our opinion, the Management's review gives a fair review of the development in the Company's operations and financial matters and the results of the Company's operations and financial position.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Årsrapporten indstilles til generalforsamlingens godkendelse.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">We recommend the adoption of the annual report at the annual general meeting</td></tr></table> Søborg 2020-05-27 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Den uafhængige revisors revisionspåtegning</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Independent Auditor’s Report</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Til kapitalejerne i DataFlight Europe A/S</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">To the shareholders of DataFlight Europe A/S</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Konklusion</td></tr><tr><td colspan="1">Vi har revideret årsregnskabet for Dataflight Europe A/S for regnskabsåret 1. januar – 31. december 2019, der omfatter resultatopgørelse, balance, egenkapitalsopgørelse og noter, herunder anvendt regnskabspraksis. Årsregnskabet udarbejdes efter årsregnskabsloven</td></tr><tr><td colspan="1">Det er vores opfattelse, at årsregnskabet giver et retvisende billede af selskabets aktiver, passiver og finansielle stilling pr. 31. december 2019 samt af resultatet af selskabets aktiviteter for regnskabsåret 1. januar – 31. december 2019 i overensstemmelse med årsregnskabsloven.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Opinion</td></tr><tr><td colspan="1">We have audited the financial statements of DataFlight Europe A/S for the financial year 1 January – 31 December 2019, which comprise income statement, balance sheet, statement of changes in equity and notes, including accounting policies. The financial statements are prepared in accordance with the Danish Financial Statements Act.</td></tr><tr><td colspan="1">In our opinion, the financial statements give a true and fair view of the financial position of the Company at 31 December 2019 and of the results of the Company's operations for the financial year 1 January ‑ 31 December 2019 in accordance with the Danish Financial Statements Act.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Grundlag for konklusion</td></tr><tr><td colspan="1">Vi har udført vores revision i overensstemmelse med internationale standarder om revision og de yderligere krav, der er gældende i Danmark. Vores ansvar ifølge disse standarder og krav er nærmere beskrevet i revisionspåtegningens afsnit "Revisors ansvar for revisionen af årsregnskabet". Det er vores opfattelse, at det opnåede revisionsbevis er tilstrækkeligt og egnet som grundlag for vores konklusion.</td></tr><tr><td colspan="1">Uafhængighed</td></tr><tr><td colspan="1">Vi er uafhængige af selskabet i overensstemmelse med internationale etiske regler for revisorer (IESBA's Etiske regler) og de yderligere krav, der er gældende i Danmark, ligesom vi har opfyldt vores øvrige etiske forpligtelser i henhold til disse regler og krav.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Basis for opinion</td></tr><tr><td colspan="1">We conducted our audit in accordance with International Standards on Auditing (ISAs) and the 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 our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.</td></tr><tr><td colspan="1">Independence</td></tr><tr><td colspan="1">We are independent of the Company in accordance with the International Ethics Standards Board for 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 rules and requirements.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Ledelsens ansvar for årsregnskabet</td></tr><tr><td colspan="1">Ledelsen har ansvaret for udarbejdelsen af et årsregnskab, der giver et retvisende billede i overensstemmelse med årsregnskabsloven. Ledelsen har endvidere ansvaret for den interne kontrol, som ledelsen anser for nødvendig for at udarbejde et årsregnskab uden væsentlig fejlinformation, uanset om denne skyldes besvigelser eller fejl.</td></tr><tr><td colspan="1">Ved udarbejdelsen af årsregnskabet er ledelsen ansvarlig for at vurdere selskabets evne til at fortsætte driften; at oplyse om forhold vedrørende fortsat drift, hvor dette er relevant; samt at udarbejde årsregnskabet på grundlag af regnskabsprincippet om fortsat drift, medmindre ledelsen enten har til hensigt at likvidere selskabet, indstille driften eller ikke har andet realistisk alternativ end at gøre dette.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Management’s responsibility for the financial statements</td></tr><tr><td colspan="1">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.</td></tr><tr><td colspan="1">In preparing the financial statements, Management is responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting in preparing the financial statements unless Management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Revisors ansvar for revisionen af årsregnskabet</td></tr><tr><td colspan="1">Vores mål er at opnå høj grad af sikkerhed for, om årsregnskabet som helhed er uden væsentlig fejlinformation, uanset om denne skyldes besvigelser eller fejl, og at afgive en revisionspåtegning med en konklusion. Høj grad af sikkerhed er et højt niveau af sikkerhed, men er ikke en garanti for, at en revision, der udføres i overensstemmelse med internationale standarder om revision og de yderligere krav, der er gældende i Danmark, altid vil afdække væsentlig fejlinformation, når sådan findes. Fejlinformationer kan opstå som følge af besvigelser eller fejl og kan betragtes som væsentlige, hvis det med rimelighed kan forventes, at de enkeltvis eller samlet har indflydelse på de økonomiske beslutninger, som regnskabsbrugerne træffer på grundlag af årsregnskabet.</td></tr><tr><td colspan="1">Som led i en revision, der udføres i overensstemmelse med internationale standarder om revision og de yderligere krav, der er gældende i Danmark, foretager vi faglige vurderinger og opretholder professionel skepsis under revisionen. Herudover</td></tr><tr><td colspan="1">·         Identificerer og vurderer vi risikoen for væsentlig fejlinformation i årsregnskabet, uanset om denne skyldes besvigelser eller fejl, udformer og udfører revisionshandlinger som reaktion på disse risici samt opnår revisionsbevis, der er tilstrækkeligt og egnet til at danne grundlag for vores konklusion. Risikoen for ikke at opdage væsentlig fejlinformation forårsaget af besvigelser er højere end ved væsentlig fejlinformation forårsaget af fejl, idet besvigelser kan omfatte sammensværgelser, dokumentfalsk, bevidste udeladelser, vildledning eller tilsidesættelse af intern kontrol.</td></tr><tr><td colspan="1">·         Opnår vi forståelse af den interne kontrol med relevans for revisionen for at kunne udforme revisionshandlinger, der er passende efter omstændighederne, men ikke for at kunne udtrykke en konklusion om effektiviteten af selskabets interne kontrol.</td></tr><tr><td colspan="1">·         Tager vi stilling til, om den regnskabspraksis, som er anvendt af ledelsen, er passende, samt om de regnskabsmæssige skøn og tilknyttede oplysninger, som ledelsen har udarbejdet, er rimelige.</td></tr><tr><td colspan="1">·         Konkluderer vi, om ledelsens udarbejdelse af årsregnskabet på grundlag af regnskabsprincippet om fortsat drift er passende, samt om der på grundlag af det opnåede revisionsbevis er væsentlig usikkerhed forbundet med begivenheder eller forhold, der kan skabe betydelig tvivl om selskabets evne til at fortsætte driften. Hvis vi konkluderer, at der er en væsentlig usikkerhed, skal vi i vores revisionspåtegning gøre opmærksom på oplysninger herom i årsregnskabet eller, hvis sådanne oplysninger ikke er tilstrækkelige, modificere vores konklusion. Vores konklusion er baseret på det revisionsbevis, der er opnået frem til datoen for vores revisionspåtegning. Fremtidige begivenheder eller forhold kan dog medføre, at selskabet ikke længere kan fortsætte driften.</td></tr><tr><td colspan="1">·         Tager vi stilling til den samlede præsentation, struktur og indhold af årsregnskabet, herunder noteoplysningerne, samt om årsregnskabet afspejler de underliggende transaktioner og begivenheder på en sådan måde, at der gives et retvisende billede heraf.</td></tr><tr><td colspan="1">Vi kommunikerer med den øverste ledelse om bl.a. det planlagte omfang og den tidsmæssige placering af revisionen samt betydelige revisionsmæssige observationer, herunder eventuelle betydelige mangler i intern kontrol, som vi identificerer under revisionen</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Auditor's responsibilities for the audit of the financial statements</td></tr><tr><td colspan="1">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 the financial statements.</td></tr><tr><td colspan="1">As part of an audit conducted in accordance with ISAs and additional requirements applicable in Denmark, we exercise professional judgement and maintain professional skepticism throughout the audit. We also</td></tr><tr><td colspan="1">·         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.</td></tr><tr><td colspan="1">·         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 Company's internal control.</td></tr><tr><td colspan="1">·         Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management.</td></tr><tr><td colspan="1">·         Conclude on the appropriateness of Management's use of the going concern basis of accounting in preparing the financial statements and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusion is based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.</td></tr><tr><td colspan="1">·         Evaluate the overall presentation, structure and contents of the financial statements, including the note disclosures, and whether the financial statements represent the underlying transactions and events in a manner that gives a true and fair view.</td></tr><tr><td colspan="1">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.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Udtalelse om ledelsesberetningen</td></tr><tr><td colspan="1">Ledelsen er ansvarlig for ledelsesberetningen.</td></tr><tr><td colspan="1">Vores konklusion om årsregnskabet omfatter ikke ledelsesberetningen, og vi udtrykker ingen form for konklusion med sikkerhed om ledelsesberetningen.</td></tr><tr><td colspan="1">I tilknytning til vores revision af årsregnskabet er det vores ansvar at læse ledelsesberetningen og i den forbindelse overveje, om ledelsesberetningen er væsentligt inkonsistent med årsregnskabet eller vores viden opnået ved revisionen eller på anden måde synes at indeholde væsentlig fejlinformation.</td></tr><tr><td colspan="1">Vores ansvar er derudover at overveje, om ledelsesberetningen indeholder krævede oplysninger i henhold til årsregnskabsloven.</td></tr><tr><td colspan="1">Baseret på det udførte arbejde er det vores opfattelse, at ledelsesberetningen er i overensstemmelse med årsregnskabet og er udarbejdet i overensstemmelse med årsregnskabslovens krav. Vi har ikke fundet væsentlig fejlinformation i ledelsesberetningen.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Statement on Management's review</td></tr><tr><td colspan="1">Management is responsible for the Management's review.</td></tr><tr><td colspan="1">Our opinion on the financial statements does not cover the Management’s review, and we do not express any form of assurance conclusion thereon.</td></tr><tr><td colspan="1">In connection with our audit of the financial statements, our responsibility is to read the Management's review and, in doing so, consider whether the Management's review is materially inconsistent with the financial statements or our knowledge obtained during the audit, or otherwise appears to be materially misstated.</td></tr><tr><td colspan="1">Moreover, it is our responsibility to consider whether the Management's review provides the information required under the Danish Financial Statements Act.</td></tr><tr><td colspan="1">Based on our procedures, we conclude that the Management's review is in accordance with the financial statements and has been prepared in accordance with the requirements of the Danish Financial Statement Act. We did not identify any material misstatement of the Management's review.</td></tr></table> København Copenhagen 2020-05-27 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Ledelsesberetning</td></tr><tr><td colspan="1">Hovedaktivitet</td></tr><tr><td colspan="1">Selskabet beskæftiger sig dels med salg af håndholdt dataudstyr og dels med løsningssalg baseret på håndholdt udstyr. Blandt eksisterende løsninger er betalingssystemer til brug i forbindelse med salg ombord på fly.</td></tr><tr><td colspan="1">Udvikling i året</td></tr><tr><td colspan="1">Selskabets resultatopgørelse for 2019 udviser et underskud på DKK -797,579, og selskabets balance pr. 31. december 2019 udviser en negativ egenkapital på DKK 63,504,470.</td></tr><tr><td colspan="1">Selskabet har i 2019 en negativ egenkapital og er omfattet af lovgivningens kapitaltabsregler. Selskabet har i maj 2020 konverteret DKK 65,000,000 gæld til egenkapital, således aktiekapitalen er genetableret.</td></tr><tr><td colspan="1">Målsætninger og forventninger for det kommende år</td></tr><tr><td colspan="1">Selskabet har lukket sin aktivitet ultimo april 2019. Dette har ikke givet anledning til ændringen i vurderinger af aktiver og passiver. Det forventes at selskabet likvideres inden udgangen af 2020.</td></tr><tr><td colspan="1">Usikkerhed ved indregning og måling</td></tr><tr><td colspan="1">Der er ikke forekommet væsentlig usikkerhed ved indregning og måling i årsrapporten.</td></tr><tr><td colspan="1">Begivenheder efter balancedagen</td></tr><tr><td colspan="1">Det er besluttet af selskabets aktionærer at konvertere selskabets gæld til moderselskabet til egenkapital efter balancedagen. Dette har ikke væsentlig indflydelse på bedømmelsen af årsrapporten, idet aktiver og passiver er optaget til realisationsværdi. Der er derudover ikke efter balancedagen indtruffet for­hold, som vil få væ­sent­lig ind­flyd­else på be­døm­mel­sen af års­rapporten.</td></tr><tr><td colspan="1">Der henvises i øvrigt til note 1.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Management’s Review</td></tr><tr><td colspan="1">Main activity</td></tr><tr><td colspan="1">The Company carries on business activities within the sale of hand held data equipment and solution sales based on hand held equipment. Among the existing solutions are payment systems for purposes of sales in aircrafts.</td></tr><tr><td colspan="1">Development in the year</td></tr><tr><td colspan="1">The income statement of the Company for 2019 shows a loss of DKK -797,579, and at 31st December 2019 the balance sheet of the Company shows negative equity of DKK 63,504,470.</td></tr><tr><td colspan="1">In 2019 the Company's net capital was negative and is subject to regulatory capital loss rules. The Company has in May 2020, converted DKK 65,000,000 debt to equity, such the shared capital has been reestablished.</td></tr><tr><td colspan="1">Targets and expectations for the year ahead</td></tr><tr><td colspan="1">The company has closed its activity at the end of April 2019. This has not given rise to the change in ratings of assets and liabilities. It is expected that the company will be liquidated before end of 2020.</td></tr><tr><td colspan="1">Uncertainty relating to recognition and measurement</td></tr><tr><td colspan="1">Recognition and measurement in the Annual Report have not been subject to any material uncertainty.</td></tr><tr><td colspan="1">Subsequent events</td></tr><tr><td colspan="1">After the balance sheet date, it is decided by the shareholders that the company debt to the Parent Company will be converted to Equity. This has no significant influence on the assessment of the annual report as assets and liabilities is valued at realizable value. In addition, no events materially affecting the assessment of the Annual Report will occurred after the balance sheet date.</td></tr><tr><td colspan="1">Please refer to note 1.</td></tr></table> -789353 183757 -973110 42538 181151 -1111723 -314144 -797579 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="4" align="left" valign="middle" ><b>Egenkapitalopgørelse</b></td></tr><tr><td width="100%" colspan="4" align="left" valign="middle" ><b>Statement of Changes in Equity</b></td></tr><tr><td colspan="4"></td></tr><tr><td width="36%" ></td><td width="24%" colspan="1" align="right" valign="middle" >Selskabskapital</td><td width="22%" colspan="1" align="right" valign="middle" >Overført resultat</td><td width="18%" colspan="1" align="right" valign="middle" >I alt</td></tr><tr><td width="36%" ></td><td width="24%" colspan="1" align="right" valign="middle" >Share capital</td><td width="22%" colspan="1" align="right" valign="middle" >Retained earnings</td><td width="18%" colspan="1" align="right" valign="middle" >Total</td></tr><tr><td width="36%" ></td><td width="24%" colspan="1" align="right" valign="middle" >DKK</td><td width="22%" colspan="1" align="right" valign="middle" >DKK</td><td width="18%" colspan="1" align="right" valign="middle" >DKK</td></tr><tr><td width="36%" colspan="1" align="left" valign="middle" >Egenkapital 1. januar</td><td width="24%" align="right" valign="middle" >500.000</td><td width="22%" align="right" valign="middle" >-63.206.891</td><td width="18%" align="right" valign="middle" >-62.706.891</td></tr><tr><td width="100%" colspan="4" align="left" valign="middle" >Equity at 1 January</td></tr><tr><td width="36%" colspan="1" align="left" valign="middle" >Årets resultat</td><td width="24%" align="right" valign="middle" >0</td><td width="22%" align="right" valign="middle" >-797.579</td><td width="18%" align="right" valign="middle" >-797.579</td></tr><tr><td width="100%" colspan="4" align="left" valign="middle" >Net profit/loss for the year</td></tr><tr><td width="36%" colspan="1" align="left" valign="middle" ><b>Egenkapital 31. december</b></td><td width="24%" align="right" valign="middle" ><b>500.000</b></td><td width="22%" align="right" valign="middle" >-64.004.470</td><td width="18%" align="right" valign="middle" >-63.504.470</td></tr><tr><td width="100%" colspan="4" align="left" valign="middle" ><b>Equity at 31 December</b></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="1" align="left" valign="middle" ><b></b></td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Efterfølgende begivenheder/Subsequent events</b></td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Det er besluttet af selskabets aktionærer at konvertere selskabets gæld til moderselskabet til egenkapital efter balancedagen. Dette har ikke væsentlig indflydelse på bedømmelsen af årsrapporten, idet aktiver og passiver er optaget til realisationsværdi. Der er derudover ikke efter balancedagen indtruffet forhold, som har væsentlig indflydelse på bedømmelsen af årsrapporten.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Selskabets aktionær forventer at have likvideret selskabet inden udgangen af 2020.</td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >After the balance sheet date, it is decided by the shareholders that the company debt to the Parent Company will be converted to Equity. This has no significant influence on the assessment of the annual report as assets and liabilities is valued at realizable value. In addition, no events materially affecting the assessment of the Annual Report have occurred after the balance sheet date.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The Shareholder of the Company expect to liquidate the Company before end 2020.</td></tr><tr><td colspan="1"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Personaleomkostninger</b></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Staff expenses</b></td></tr><tr><td width="59%" ></td><td width="18%" align="right" valign="middle" >2019</td><td width="23%" align="right" valign="middle" >2018</td></tr><tr><td width="59%" ></td><td width="18%" colspan="1" align="right" valign="middle" >DKK</td><td width="23%" colspan="1" align="right" valign="middle" >DKK</td></tr><tr><td width="59%" colspan="1" align="left" valign="middle" >Lønninger</td><td width="18%" align="right" valign="middle" >169.959</td><td width="23%" align="right" valign="middle" >4.408.416</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Wages and salaries</td></tr><tr><td width="59%" colspan="1" align="left" valign="middle" >Pensioner</td><td width="18%" align="right" valign="middle" >13.041</td><td width="23%" align="right" valign="middle" >1.068.741</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Pensions</td></tr><tr><td width="59%" colspan="1" align="left" valign="middle" >Andre omkostninger til social sikring</td><td width="18%" align="right" valign="middle" >757</td><td width="23%" align="right" valign="middle" >12.670</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Other social security expenses</td></tr><tr><td width="59%" ></td><td width="18%" align="right" valign="middle" ><b>183.757</b></td><td width="23%" align="right" valign="middle" ><b>5.489.827</b></td></tr><tr><td colspan="3"></td></tr><tr><td width="59%" colspan="1" align="left" valign="middle" >Gennemsnitlige antal ansatte</td><td width="18%" align="right" valign="middle" >1</td><td width="23%" align="right" valign="middle" >5</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Average number of employees</td></tr><tr><td colspan="3"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Finansielle indtægter</b></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Financial income</b></td></tr><tr><td width="59%" ></td><td width="18%" align="right" valign="middle" >2019</td><td width="23%" align="right" valign="middle" >2018</td></tr><tr><td width="59%" ></td><td width="18%" colspan="1" align="right" valign="middle" >DKK</td><td width="23%" colspan="1" align="right" valign="middle" >DKK</td></tr><tr><td colspan="3"></td></tr><tr><td width="59%" colspan="1" align="left" valign="middle" >Valutakursreguleringer</td><td width="18%" align="right" valign="middle" >42.538</td><td width="23%" align="right" valign="middle" >170.194</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Exchange adjustments</td></tr><tr><td width="59%" ></td><td width="18%" align="right" valign="middle" ><b>42.538</b></td><td width="23%" align="right" valign="middle" ><b>170.194</b></td></tr><tr><td colspan="3"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Finansielle omkostninger</b></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Financial expenses</b></td></tr><tr><td width="59%" colspan="1" align="left" valign="middle" >Renteomkostninger tilknyttede virksomheder</td><td width="18%" align="right" valign="middle" >163.718</td><td width="23%" align="right" valign="middle" >163.726</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Interest paid to group enterprises</td></tr><tr><td width="59%" colspan="1" align="left" valign="middle" >Andre finansielle omkostninger</td><td width="18%" align="right" valign="middle" >9.911</td><td width="23%" align="right" valign="middle" >13.716</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Other financial expenses</td></tr><tr><td width="59%" colspan="1" align="left" valign="middle" >Valutakurstab</td><td width="18%" align="right" valign="middle" >7.522</td><td width="23%" align="right" valign="middle" >366.192</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Exchange loss</td></tr><tr><td width="59%" ></td><td width="18%" align="right" valign="middle" ><b>181.151</b></td><td width="23%" align="right" valign="middle" ><b>543.634</b></td></tr><tr><td colspan="3"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Skat af årets resultat</b></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Tax on profit/loss for the year</b></td></tr><tr><td width="59%" ></td><td width="18%" align="right" valign="middle" >2019</td><td width="23%" align="right" valign="middle" >2018</td></tr><tr><td width="59%" ></td><td width="18%" colspan="1" align="right" valign="middle" >DKK</td><td width="23%" colspan="1" align="right" valign="middle" >DKK</td></tr><tr><td colspan="3"></td></tr><tr><td width="59%" colspan="1" align="left" valign="middle" >Årets udskudte skat</td><td width="18%" align="right" valign="middle" >293.581</td><td width="23%" align="right" valign="middle" >505.401</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Deferred tax for the year</td></tr><tr><td width="59%" colspan="1" align="left" valign="middle" >Regulering af skat vedrørende tidligere år</td><td width="18%" align="right" valign="middle" >20.563</td><td width="23%" align="right" valign="middle" >0</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Prior year tax adjustments</td></tr><tr><td width="59%" ></td><td width="18%" align="right" valign="middle" ><b>314.144</b></td><td width="23%" align="right" valign="middle" ><b>505.401</b></td></tr><tr><td colspan="3"></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Udskudt skat er optaget til den værdi, som det forventes at kunne udnyttes med. Vurderingen er sket med baggrund i indkomsten fra de sambeskattede selskaber.</td></tr><tr><td colspan="3"></td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" >Deferred tax is recorded at value as expected to be utilized. The assessment takes place on the basis of income from jointly taxed companies.</td></tr><tr><td colspan="3"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Varebeholdninger</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Inventories</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Som følge af at aktiviteten i selskabet er lukket ned, er det vurderet af ledelsen, at varebeholdningen pr. 31. december 2019 skulle optages med værdien kr. 0.</td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >As a consequence of closing down the Company activity in 2019 the management has made the assessment that the value of inventories at 31 December 2019 is DKK 0.</td></tr><tr><td colspan="1"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Egenkapital</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Equity</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Selskabskapitalen består af 500 A‑aktier à nominelt DKK 1.000. Ingen A‑aktier er tillagt særlige rettigheder.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The share capital consists of 500 shares of a nominal value of DKK 1,000. No shares carry any special rights.</td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Der har ikke været ændringer i selskabskapitalen i de seneste 5 år.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >There have been no changes in the share capital during the last 5 years.</td></tr><tr><td colspan="1"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Eventualposter og øvrige økonomiske forpligtelser</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Contingent assets, liabilities and other financial obligations</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Eventualforpligtelser</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Contingent liabilities</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Selskabet er sambeskattet med øvrige danske dattervirksomheder i Canon koncerncen. Selskabet hæfter ubegrænset og solidarisk med de øvrige danske dattervirksomheder for danske selskabsskatter og kildeskatter på udbytte, renter og royalties inden for sambeskatningskredsen. De sambeskattede virksomheders samlede nettoforpligtelse på skyldige selskabsskatter og kildeskatter på udbytte, renter og royalties pr. 31. december 2019 er ikke kendt på tidspunktet for regnskabets aflæggelse. Pr. 31. december 2018 udgjorde den samlede kendte nettoforpligtelse for de sambeskattede virksomheder -38,7 mio.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The company is jointly taxed with other Danish subsidiaries in the Canon Group. The company is unlimited and jointly and severally liable with the other Danish subsidiaries for Danish corporate taxes and withholding taxes on dividends, interest and royalties within the joint taxation circle. The total net liability of the jointly taxed companies on corporate taxes and withholding taxes payable on dividends, interest and royalties per share. December 31, 2019 is not known at the time of presentation of the annual report. On December 31, 2018, the total known net liability for the jointly taxed companies amounted to DKK -38,7 million.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Der er ikke øvrige eventuelforpligtelser eller sikkerhedsstillelser pr. 31. december 2019.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >There are no other contingent liabilities or collateral 31 December 2019.</td></tr><tr><td colspan="1"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="2" align="left" valign="middle" ><b>Nærtstående parter og ejerforhold</b></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" ><b>Related parties and ownership</b></td></tr><tr><td colspan="2"></td></tr><tr><td width="76%" colspan="1" align="left" valign="middle" ><b>Bestemmende indflydelse</b></td><td width="24%" colspan="1" align="right" valign="middle" ><b>Grundlag</b></td></tr><tr><td width="76%" colspan="1" align="left" valign="middle" ><b>Controlling interest</b></td><td width="24%" colspan="1" align="right" valign="middle" ><b>Basis</b></td></tr><tr><td width="76%" colspan="1" align="left" valign="middle" >Canon Europa N.V.</td><td width="24%" colspan="1" align="right" valign="middle" >Hovedaktionær</td></tr><tr><td width="76%" colspan="1" align="left" valign="middle" >Bovenkerweg 59, 1185 XB Amstelveen, Holland</td><td width="24%" colspan="1" align="right" valign="middle" >Principal shareholder</td></tr><tr><td colspan="2"></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" ><b>Ejerforhold</b></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" ><b>Ownership</b></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" >Følgende kapitalejer er noteret i selskabets ejerbog som ejende minimum 5% af stemmerne eller minimum 5% af selskabskapitalen</td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" >Canon Europa N.V., Bovenkerweg 59, 1185 XB Amstelveen, Holland, 100 %</td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" >The following shareholders are recorded in the Company's register of shareholders as holding at least 5% of the votes or at least 5% of the share capital</td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" >Canon Europa N.V., Bovenkerweg 59, 1185 XB Amstelveen, Holland, 100 %</td></tr><tr><td colspan="2"></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" ><b>Koncernregnskab</b></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" ><b>Consolidated Financial Statements</b></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" >Modervirksomhed, der udarbejder koncernregnskab, for både den største og mindste virksomhed, hvori selskabet indgår som dattervirksomhed: Canon Inc. 30‑2 Shimomaruko 3‑chome, Ohta‑ku, Tokyo 146‑8501, Japan.</td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" >The parent company that prepare consolidated financial statements for both the largest and smallest group, in which the company is a subsidary: Canon Inc. 30‑2 Shimomaruko 3‑chome, Ohta‑ku, Tokyo 146‑8501, Japan.</td></tr><tr><td colspan="2"></td></tr></table><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Ejerforhold</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Canon Europa N.V., Bovenkerweg 59, 1185 XB Amstelveen, Holland, 100 %</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Årsrapporten for DataFlight Europe A/S for 2019 er udarbejdet i overensstemmelse med årsregnskabslovens bestemmelser for virksomheder i regnskabsklasse B med tilvalg af visse bestemmelser i klasse C.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">The Annual Report of DataFlight Europe A/S for 2019 has been prepared in accordance with the provisions of the Danish Financial Statements Act applying to enterprises of reporting class B and elected choice of certain provisions applying to reporting to class C enterprises.</td></tr></table> true <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Årsregnskab for 2019 er aflagt i DKK.</td></tr></table><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Generelt om indregning og måling</td></tr><tr><td colspan="1">Regnskabet er udarbejdet med udgangspunkt i det historiske kostprisprincip.</td></tr><tr><td colspan="1">Indtægter indregnes i resultatopgørelsen i takt med, at de indtjenes. Herudover indregnes værdireguleringer af finansielle aktiver og forpligtelser, der måles til dagsværdi eller amortiseret kostpris. Endvidere indregnes i resultatopgørelsen alle omkostninger, der er afholdt for at opnå årets indtjening, herunder afskrivninger, nedskrivninger og hensatte forpligtelser samt tilbageførsler som følge af ændrede regnskabsmæssige skøn af beløb, der tidligere har været indregnet i resultatopgørelsen.</td></tr><tr><td colspan="1">Aktiver indregnes i balancen, når det er sandsynligt, at fremtidige økonomiske fordele vil tilflyde selskabet, og aktivets værdi kan måles pålideligt.</td></tr><tr><td colspan="1">Forpligtelser indregnes i balancen, når det er sandsynligt, at fremtidige økonomiske fordele vil fragå selskabet, og forpligtelsens værdi kan måles pålideligt.</td></tr><tr><td colspan="1">Ved første indregning måles aktiver og forpligtelser til kostpris. Efterfølgende måles aktiver og forpligtelser som beskrevet for hver enkelt regnskabspost nedenfor.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Financial Statements for 2019 are presented in DKK.</td></tr><tr><td colspan="1">Recognition and measurement</td></tr><tr><td colspan="1">The Financial Statements have been prepared under the historical cost method.</td></tr><tr><td colspan="1">Revenues are recognised in the income statement as earned. Furthermore, value adjustments of financial assets and liabilities measured at fair value or amortised cost are recognised. 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.</td></tr><tr><td colspan="1">Assets are recognised in the balance sheet when it is probable that future economic benefits attributable to the asset will flow to the Company, and the value of the asset can be measured reliably.</td></tr><tr><td colspan="1">Liabilities are recognised in the balance sheet when it is probable that future economic benefits will flow out of the Company, and the value of the liability can be measured reliably.</td></tr><tr><td colspan="1">Assets and liabilities are initially measured at cost. Subsequently, assets and liabilities are measured as described for each item below.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Leasing</td></tr><tr><td colspan="1">Alle leasingkontrakter betragtes som operationel leasing. Ydelser i forbindelse med operationel leasing indregnes lineært i resultatopgørelsen over leasingperioden.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Leases</td></tr><tr><td colspan="1">All leases are considered operating leases. Payments made under operating leases are recognised in the income statement on a straight‑line basis over the lease term.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Omregning af fremmed valuta</td></tr><tr><td colspan="1">Som præsentationsvaluta benyttes danske kroner. Alle andre valutaer anses som fremmed valuta.</td></tr><tr><td colspan="1">Transaktioner i fremmed valuta omregnes til transaktionsdagens kurs. Valutakursdifferencer, der opstår mellem transaktionsdagens kurs og kursen på betalingsdagen, indregnes i resultatopgørelsen som en finansiel post. Hvis valutapositioner anses for sikring af fremtidige pengestrømme, indregnes værdireguleringerne direkte på egenkapitalen.</td></tr><tr><td colspan="1">Tilgodehavender, gæld og andre monetære poster i fremmed valuta, som ikke er afregnet på balancedagen, måles til balancedagens valutakurs. Forskellen mellem balancedagens kurs og kursen på tidspunktet for tilgodehavendets eller gældens opståen indregnes i resultatopgørelsen under finansielle indtægter og omkostninger.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Translation policies</td></tr><tr><td colspan="1">Danish kroner is used as the presentation currency. All other currencies are regarded as foreign currencies.</td></tr><tr><td colspan="1">Transactions in foreign currencies are translated at the exchange rates at the dates of transaction. Exchange differences arising due to differences between the transaction date rates and the rates at the dates of payment are recognised in financial income and expenses in the income statement. Where foreign exchange transactions are considered hedging of future cash flows, the value adjustments are recognised directly in equity.</td></tr><tr><td colspan="1">Receivables, payables and other monetary items in foreign currencies that have not been settled at the balance sheet date are translated at the exchange rates at the balance sheet date. Any differences between the exchange rates at the balance sheet date and the rates at the time when the receivable or the debt arose are recognised in financial income and expenses in the income statement.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Bruttofortjeneste</td></tr><tr><td colspan="1">Posterne nettoomsætning, vareforbrug, andre eksterne omkostninger og andre driftsindtægter er med henvisning til årsregnskabslovens § 32 sammendraget til en regnskabspost benævnt bruttofortjeneste.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Gross profit/loss</td></tr><tr><td colspan="1">With reference to section 32 of the Danish Financial Statements Act, the items ‘revenue’, ‘cost of sales’, ‘Other operating income, are consolidated into one item designated ‘Gross profit/loss’.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Nettoomsætning</td></tr><tr><td colspan="1">Ved salg af varer indregnes nettoomsætning, når fordele og risici vedrørende de solgte varer er overgået til køber, nettoomsætningen kan måles pålideligt og det er sandsynligt, at de økonomiske fordele ved salget vil tilgå selskabet.</td></tr><tr><td colspan="1">Indtægter ved levering af tjenesteydelser indregnes linæret i omsætningen i takt med leveringen af ydelserne.</td></tr><tr><td colspan="1">Nettoomsætningen måles til det modtagne vederlag og indregnes eksklusive moms og med fradrag af rabatter i forbindelse med salget.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Revenue</td></tr><tr><td colspan="1">Revenue from the sale of goods is recognised when the risks and rewards relating to the goods sold have been transferred to the purchaser, the revenue can be measured reliably and it is probable that the economic benefits relating to the sale will flow to the Company.</td></tr><tr><td colspan="1">Income from the rendering of services is recognised linear as revenue as the services are rendered.</td></tr><tr><td colspan="1">Revenue is measured at the consideration received and is recognised exclusive of VAT and net of discounts relating to sales.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Omkostninger til råvarer og hjælpematerialer</td></tr><tr><td colspan="1">Omkostninger til råvarer og hjælpematerialer indeholder det forbrug af råvarer og hjælpematerialer, der er anvendt for at opnå virksomhedens nettoomsætning.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Expenses for raw materials and consumables</td></tr><tr><td colspan="1">Expenses for raw materials and consumables comprise the raw materials and consumables consumed to achieve revenue for the enterprice.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Andre eksterne omkostninger</td></tr><tr><td colspan="1">Andre eksterne omkostninger indeholder indirekte produktionsomkostninger og omkostninger til lokaler, salg og distribution samt kontorhold mv.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Other external expenses</td></tr><tr><td colspan="1">Other external expenses comprise indirect production costs and expenses for premises, sales and distribution as well as office expenses, etc.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Personaleomkostninger</td></tr><tr><td colspan="1">Personaleomkostninger indeholder gager og lønninger samt lønafhængige omkostninger bortset fra produktions lønninger.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Staff expenses</td></tr><tr><td colspan="1">Staff expenses comprise wages and salaries as well as payroll expenses other than production wages.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Finansielle poster</td></tr><tr><td colspan="1">Finansielle indtægter og omkostninger indregnes i resultatopgørelsen med de beløb, der vedrører regnskabsåret.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Financial income and expenses</td></tr><tr><td colspan="1">Financial income and expenses are recognised in the income statement at the amounts relating to the financial year.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Skat af årets resultat</td></tr><tr><td colspan="1">Skat af årets resultat består af årets aktuelle skat og forskydning i udskudt skat og indregnes i resultatopgørelsen med den del, der kan henføres til årets resultat, og direkte på egenkapitalen med den del, der kan henføres til posteringer direkte på egenkapitalen.</td></tr><tr><td colspan="1">Selskabet er sambeskattet med de danske selskaber, som indgår i sambeskatningen. Selskabsskatten fordeles mellem de sambeskattede selskaber i forhold til disses skattepligtige indkomster.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Tax on profit/loss for the year</td></tr><tr><td colspan="1">Tax for the year consists of current tax for the year and changes in deferred tax for the year. The tax attributable to the profit for the year is recognised in the income statement, whereas the tax attributable to equity transactions is recognised directly in equity.</td></tr><tr><td colspan="1">The Company is jointly taxed with whit the Danish Companies which are jointly taxed. The tax effect of the joint taxation is allocated to enterprises in proportion to their taxable incomes.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Varebeholdninger</td></tr><tr><td colspan="1">Varebeholdninger måles til kostpris efter FIFO‑metoden eller nettorealisationsværdi, hvis denne er lavere.</td></tr><tr><td colspan="1">Nettorealisationsværdien for varebeholdninger opgøres til det beløb, som forventes at kunne indbringes ved salg i normal drift med fradrag af salgsomkostninger. Nettorealisationsværdien opgøres under hensyntagen til omsættelighed, ukurans og udvikling i forventet salgspris.</td></tr><tr><td colspan="1">Kostpris for handelsvarer samt råvarer og hjælpematerialer omfatter købspris med tillæg af hjemtagelsesomkostninger.</td></tr><tr><td colspan="1">Kostpris for fremstillede færdigvarer samt varer under fremstilling omfatter kostpris for råvarer, hjælpematerialer og direkte løn.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Inventories</td></tr><tr><td colspan="1">Inventories are measured at the lower of cost under the FIFO method and net realisable value.</td></tr><tr><td colspan="1">The net realisable value of inventories is calculated at the amount expected to be generated by sale of the inventories in the process of normal operations with deduction of selling expenses. The net realisable value is determined allowing for marketability, obsolescence and development in expected selling price.</td></tr><tr><td colspan="1">The cost of goods for resale, raw materials and consumables equals landed cost.</td></tr><tr><td colspan="1">The cost of finished goods and work in progress comprises the cost of raw materials, consumables and direct labour.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Tilgodehavender</td></tr><tr><td colspan="1">Tilgodehavender måles i balancen til amortiseret kostpris eller en lavere nettorealisationsværdi, hvilket normalt udgør nominel værdi med fradrag af nedskrivning til imødegåelse af tab.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Receivables</td></tr><tr><td colspan="1">Receivables are measured in the balance sheet at the lower of amortised cost and net realisable value, which corresponds to nominal value less provisions for bad debts.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Likvide beholdninger</td></tr><tr><td colspan="1">Likvide beholdninger omfatter kontante beholdninger og bankindeståender.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Cash at bank and in hand</td></tr><tr><td colspan="1">Cash at bank and in hand consists of cash in hand and positive cash at bank.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Udskudte skatteaktiver og ‑forpligtelser</td></tr><tr><td colspan="1">Udskudt skat måles efter den balanceorienterede gældsmetode af midlertidige forskelle mellem regnskabsmæssig og skattemæssig værdi af aktiver og forpligtelser, opgjort på grundlag af den planlagte anvendelse af aktivet, henholdsvis afvikling af forpligtelsen.</td></tr><tr><td colspan="1">Udskudte skatteaktiver måles til den værdi, hvortil aktivet forventes at kunne realiseres, enten ved udligning i skat af fremtidig indtjening eller ved modregning i udskudte skatteforpligtelser inden for samme juridiske skatteenhed.</td></tr><tr><td colspan="1">Udskudt skat måles på grundlag af de skatteregler og skattesatser, der med balancedagens lovgivning vil være gældende, når den udskudte skat forventes udløst som aktuel skat. Ændring i udskudt skat, som følge af ændringer i skattesatser, indregnes i resultatopgørelsen eller i egenkapitalen, når den udskudte skat vedrører poster, der er indregnet i egenkapitalen.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Deferred tax assets and liabilities</td></tr><tr><td colspan="1">Deferred income tax is measured using the balance sheet liability method in respect of temporary differences arising between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes on the basis of the intended use of the asset and settlement of the liability, respectively.</td></tr><tr><td colspan="1">Deferred tax assets are measured at the value at which the asset is expected to be realised, either by elimination in tax on future earnings or by set‑off against deferred tax liabilities within the same legal tax entity.</td></tr><tr><td colspan="1">Deferred tax is measured on the basis of the tax rules and tax rates that will be effective under the legislation at the balance sheet date when the deferred tax is expected to crystallise as current tax. Any changes in deferred tax due to changes to tax rates are recognised in the income statement or in equity if the deferred tax relates to items recognised in equity.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Aktuelle skattetilgodehavender og ‑forpligtelser</td></tr><tr><td colspan="1">Aktuelle skatteforpligtelser og tilgodehavende aktuel skat indregnes i balancen som beregnet skat af årets skattepligtige indkomst reguleret for skat af tidligere års skattepligtige indkomster samt for betalte acontoskatter. Tillæg og godtgørelse under acontoskatteordningen indregnes i resultatopgørelsen under finansielle poster.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Current tax receivables and liabilities</td></tr><tr><td colspan="1">Current tax liabilities and receivables are recognised in the balance sheet as the expected taxable income for the year adjusted for tax on taxable incomes for prior years and tax paid on account. Extra payments and repayment under the on‑account taxation scheme are recognised in the income statement in financial income and expenses.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Finansielle gældsforpligtelser</td></tr><tr><td colspan="1">Lån hos kreditinstitutter, indregnes ved låneoptagelsen til det modtagne provenu med fradrag af afholdte transaktionsomkostninger. I efterfølgende perioder måles lånene til amortiseret kostpris, således at forskellen mellem provenuet og den nominelle værdi indregnes i resultatopgørelsen som en renteomkostning over låneperioden.</td></tr><tr><td colspan="1">Øvrige gældsforpligtelser måles til amortiseret kostpris, der i al væsentlighed svarer til nominel værdi.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Financial debts</td></tr><tr><td colspan="1">Loans from credit institutions, are recognised initially at the proceeds received net of transaction expenses incurred. Subsequently, the loans are measured at amortised cost; the difference between the proceeds and the nominal value is recognised as an interest expense in the income statement over the loan period.</td></tr><tr><td colspan="1">Other debts are measured at amortised cost, substantially corresponding to nominal value.</td></tr></table> Årsrapport 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Strandvejen 44 2900 Hellerup 2018-01-01 2018-12-31 Revisionspåtegning Lars Beck-Thomsen Peter James Brown Formand Lars Beck-Thomsen Stine Kühn 3897115 5489827 -1592712 170194 543634 -1966152 -505401 -1460751 -797579 -1460751 0 0 22294 293581 315875 2769446 3085321 3085321 500000 -64004470 -63504470 102706 66347085 140000 66589791 66589791 3085321 0 690196 345029 1235605 2270830 554556 2825386 2825386 500000 -63206891 -62706891 103484 65109475 319318 65532277 65532277 2825386 1.000 5.000 Ernst & Young Godkendt Revisionspartnerselskab Dirch Passers Allé 36 30700228 Jan C. Olsen mne33717 Statsautoriseret revisor Christina L. Knudsen mne41283 Statsautoriseret revisor 30700228 Ernst & Young Godkendt Revisionspartnerselskab