Årsrapport Andreas Nielsen 2023-06-27 Revisionspåtegning Regnskabsklasse B Beierholm Voergaardvej 2 9200 Aalborg SV 2021-01-01 2021-12-31 2022-01-01 2022-12-31 29607079 Doms Metrology ApS Formervangen 28 2600 Glostrup Glostrup EY Godkendt Revisionspartnerselskab 30700228 Osvald Helmuths Vej 4 2000 Frederiksberg Danmark true We have on this day presented the annual report for the financial year 01.01.22 - 31.12.22 for Doms Metrology ApS. 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 company's assets, liabilities and financial position as at 31.12.22 and of the results of the company's activities for the financial year 01.01.22 - 31.12.22. We believe that the management's review includes a fair review of the matters dealt with in the management's review. It is proposed to the annual general meeting that the financial statements for 2023 should not be audited. The annual report is submitted for adoption by the general meeting. Glostrup 2023-06-27 James Benjamin Richard Gale Stuart Graham Chairman Tuomas Johannes Gustafsson James Benjamin Richard Gale The general meeting has decided that the financial statements for the coming financial year will not be audited. To the shareholder of Doms Metrology ApS Opinion We have audited the financial statements of Doms Metrology ApS for the financial year 1 January - 31 December 2022, 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 . In our opinion, the financial statements give a true and fair view of the finansial position of the Company at 31 December 2022 and of the results of the Company's operations for the financial year 1 January - 31 December 2022 in accordance with the the Danish Financial Statements Act . Basis for Opinion We conducted our audit in accordance with International Standards on Auditing (ISAs) and additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the “Auditor’s responsibilities for the audit of the financial statements” section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Independence We are independent of the Company in accordance with the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. 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. 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. Our objectives are to obtain reasonable assurance as to 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 additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit conducted in accordance with ISAs and additional requirements applicable in Denmark, we exercise professional judgment and maintain professional skepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management. 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 conclusions are 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. 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. 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. Management is responsible for the Management’s review. Our opinion on the financial statements does not cover the Management’s review, and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the Management’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. Moreover, it is our responsibility to consider whether the Management’s review provides the information required under the Danish Financial Statements Act. Based on the work we have performed, 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 Statements Act. We did not identify any material misstatement of the Management’s review. Aalborg 2023-06-27 Hans B. Vistisen Mads Obel Knøsgaard State Authorized Public Accountant mne23254 State Authorized Public Accountant mne49041 Primary activities Doms Metrology ApS operates within the area of legal metrology control, i.e. inspection and verification of measuring equipment in accordance with the provision of the MID regulations, 2004/22/EU and national legislation within the oil and gasoline sector. Doms Metrology is accredited by Danak, an EU notified organ. Development in activities and financial affairs The income statement for the period 01.01.22 - 31.12.22 shows a profit/loss of DKK 514,448 against DKK 285,777 for the period 01.01.21 - 31.12.21. The balance sheet shows equity of DKK 347,839. The management considers the net profit for the year to be satisfactory. Going Concern The company has recieved letter of financial support from its fully owned parent Company, Doms ApS, wherein the parent company has committed itself to satisfy upon written request of the company all of the company's liabilities upon maturity to the extent necessary in order to eliminate the over-indebtedness or to avoid insolvency, at least through December 31, 2025. On this basis the financial statement are prepared on a going concern assumption. External environment The company is eco-concious and is making an ongoing effort to reduce the environmental impact of its operations. Also, though regular training and dissemination of information to all employees, the company seeks to foster a responsible and reasonable attitude to the environment as well as security issues. Subsequent events No Events have occurred after the balance sheet date which could significantly affect the Company's financial position. 3676553 3188271 2988467 2794099 9517 2377 38382 29803 659221 366746 144773 80969 514448 285777 514448 285777 967286 943208 4131162 3981675 0 13227 148687 0 53230 26442 5300365 4964552 5300365 4964552 5300365 4964552 125000 125000 222839 -291609 347839 -166609 2143 0 2143 0 288652 374830 3731076 4001622 129403 76560 801252 678149 4950383 5131161 4950383 5131161 5300365 4964552 125000 -577386 285777 125000 -291609 514448 125000 222839 2806683 2579505 126532 181072 55252 33522 2 2 9517 2377 37653 28930 729 873 129403 76560 15370 4409 The annual report is presented in accordance with the provisions of the Danish Financial Statements Act (Årsregnskabsloven) for enterprises in reporting class B with application of provisions for a higher reporting class. The annual report is presented in Danish kroner (DKK). On initial recognition, transactions denominated in foreign currencies are translated at the exchange rates at the transaction date. Foreign exchange differences arising between the exchange rate at the transaction date and the rate at the date of payment are recognised in the income statement as financial income or financial expenses. Receivables and payables and other monetary items denominated in foreign currencies are translated at closing rates. The difference between the exchange rates at the balance sheet date and the date at which the receivable or payable arose or was recognised in the latest financial statements is recognised in the income statement as financial income or financial expenses. Non-current assets acquired in foreign currency are measured at the exchange rate at the transaction date. The company has chosen IAS 17 as interpretation for classification and recognition of leases. Leases that do no transfer substantially all risks and rewards incident to the ownership of the company are classified as operational leases. Lease payments relating to operating leases are recognised in the income statement on a straight-line basis over the lease term. The items revenue, cost of sales and other external expenses have been aggregated into one item in the income statement called gross profit in accordance with section 32 of the Danish Financial Statement Act.. The company has chosen IAS 11/IAS 18 as interpretation for revenue recognition. Income from the sale of services, which include service contracts, is recognised in revenue on a straight-line basis as the services are rendered, as the services are provided in the form of an indefinite number of actions over a specified period of time. Revenue is measured at fair value of the agreed consideration exclusive of VAT and taxes charged on behalf of third parties. All discounts and rebates granted are recognised in revenue. Cost of sales comprises cost of sales for the year measured at cost plus any changes in inventories, including write-downs to the extent that these do not exceed normal write-downs. Other external expenses comprise costs relating to distribution, sales and advertising and administration, premises and bad debts to the extent that these do not exceed normal write-downs. Staff costs comprise wages and salaries as well as other staff-related costs. The item is net of refunds made by public authorities. Interest income and interest expenses etc. are recognised in financial income and financial expenses. The current and deferred tax for the year is recognised in the income statement as tax on the profit/loss for the year with the portion attributable to the profit/loss for the year, and directly in equity with the portion attributable to amounts recognised directly in equity. The company is jointly taxed with Danish group enterprises. In connection with the settlement of joint taxation contributions, the current Danish income tax is allocated between the jointly taxed enterprises in proportion to their taxable incomes. This means that enterprises with a tax loss receive joint taxation contributions from enterprises which have been able to use this loss to reduce their own taxable profit. Receivables are measured at amortised cost, which usually corresponds to the nominal value, less write-downs for bad debts. The company has chosen IAS 39 as interpretation for impairment of financial assets. Write-downs for bad debts are determined based on an individual assessment of each receivable if there is an objective evidence of individual impairment of a receivable. Prepayments recognised under assets comprise costs incurred in respect of subsequent financial years. Cash Balances in the group's cash pool scheme are not, due to the nature of the scheme, considered cash, but are recognised under "Receivable from group enterprises". Current tax payable and receivable is recognised in the balance sheet as tax computed on the basis of the taxable income for the year, adjusted for tax paid on account. Joint taxation contributions payable and receivable are recognised as income tax under receivables or payables in the balance sheet. Deferred tax liabilities and tax assets are recognised on the basis of all temporary differences between the carrying amounts and tax bases of assets and liabilities.In cases where the tax value can be determined according to different taxation rules, deferred tax is measured on the basis of management’s intended use of the asset or settlement of the liability. Deferred tax assets are recognised, following an assessment, at the expected realisable value through offsetting against deferred tax liabilities or elimination in tax on future earnings. Deferred tax is measured on the basis of the tax rules and at the tax rates which, according to the legislation in force at the balance sheet date, will be applicable when the deferred tax is expected to crystallise as current tax. Short-term payables are measured at amortised cost, normally corresponding to the nominal value of such payables. Figures in DKK Share capital Retained earnings Total equity Statement of changes in equity for 01.01.21 - 31.12.21 Balance as at 01.01.21 125,000 -577,386 -452,386 Net profit/loss for the year 0 285,777 285,777 Balance as at 31.12.21 125,000 -291,609 -166,609 Statement of changes in equity for 01.01.22 - 31.12.22 Balance as at 01.01.22 125,000 -291,609 -166,609 Net profit/loss for the year 0 514,448 514,448 Balance as at 31.12.22 125,000 222,839 347,839 There have been no changes in share capital during the five years preceding financial years Staff costs for 2022 include the cost of employees from DOMS ApS that assisted the business during the year and have been recharged to DOMS Metrology ApS. 5. Receivables from group enterprises The company is part of the cash-pool corporate scheme. Consequently the cash position of DKK 4.101.162 held by the Company at 31 December 2022 (2021: 3.951.675) is reflected within receivables from group enterprises. Lease commitments The company has concluded lease agreements with terms to maturity of up to 48 months and avarage lease payments of DKK 15,852 of DKK 386,708 (2021: DKK 534,596). Joint taxation At 31 December 2022, the company is jointly taxed with Doms ApS. Doms ApS is the 'tax adminstration' company (Adminstrationsselskab) for the Danish joint taxation. The company is jointly and severally liable for tax on the jointly taxed incomes etc. of the Group. Moreover, the group companies are jointly and severally liable for Danish withholding taxes by way of dividend tax, tax on royalty payments and tax on unearned income. Any subsequent adjustments of corporation taxes and withholding taxes may increase the Company's liability. The company is included in the consolidated financial statements of Vontier, Raleigh, North Carolina, United states. Requisition of the patents consolidated financial statements at https://s23.q4cdn.com/176362927/files/doc_financials/2022/ar/vontier-2023-annual-report-10k.pdf 29607079 2022-01-01 2022-12-31 29607079 2021-01-01 2021-12-31 29607079 2022-01-01 2022-12-31 e:RetainedEarningsMember 29607079 2021-01-01 2021-12-31 e:RetainedEarningsMember 29607079 2021-12-31 29607079 2022-12-31 29607079 2022-01-01 2022-12-31 1 29607079 2022-01-01 2022-12-31 2 29607079 2022-01-01 2022-12-31 3 29607079 2022-01-01 2022-12-31 1 29607079 2022-12-31 e:ContributedCapitalMember 29607079 2022-01-01 2022-12-31 e:RetainedEarningsMember 29607079 2022-12-31 e:RetainedEarningsMember 29607079 2021-01-01 e:ContributedCapitalMember 29607079 2021-12-31 e:ContributedCapitalMember 29607079 2021-01-01 e:RetainedEarningsMember 29607079 2021-01-01 2021-12-31 e:RetainedEarningsMember 29607079 2021-12-31 e:RetainedEarningsMember 29607079 2022-01-01 2022-12-31 1 29607079 2022-01-01 2022-12-31 2 iso4217:DKK xbrli:pure