34731152 2019-01-01 2019-12-31 34731152 2019-01-01 2019-12-31 0 34731152 2019-01-01 2019-12-31 cmn:PreviousYearMember 1 34731152 2019-01-01 2019-12-31 cmn:TwoYearsAgoMember 2 34731152 2019-01-01 2019-12-31 cmn:ThreeYearsAgoMember 3 34731152 2019-01-01 2019-12-31 cmn:FourYearsAgoMember 4 34731152 2019-01-01 2019-12-31 cmn:PreviousYearMember 34731152 2019-01-01 2019-12-31 cmn:TwoYearsAgoMember 34731152 2019-01-01 2019-12-31 cmn:ThreeYearsAgoMember 34731152 2019-01-01 2019-12-31 cmn:FourYearsAgoMember 34731152 2019-12-31 34731152 2019-12-31 cmn:PreviousYearMember 34731152 2019-12-31 cmn:TwoYearsAgoMember 34731152 2019-12-31 cmn:ThreeYearsAgoMember 34731152 2019-12-31 cmn:FourYearsAgoMember 34731152 2018-01-01 2018-12-31 34731152 2019-01-01 2019-12-31 fsa:DistributionsMember 34731152 2018-01-01 2018-12-31 fsa:DistributionsMember 34731152 2019-01-01 2019-12-31 fsa:TransferredFromToReservesAvailableMember 34731152 2018-01-01 2018-12-31 fsa:TransferredFromToReservesAvailableMember 34731152 2018-12-31 34731152 2019-01-01 2019-12-31 0 34731152 2018-01-01 2018-12-31 1 34731152 2019-01-01 34731152 2018-01-01 34731152 2019-01-01 2019-12-31 0 iso4217:DKK xbrli:pure Regnskabsklasse C, mellemstor virksomhed 2019-01-01 2019-12-31 <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">Set over en 5-årig periode kan selskabets udvikling beskrives ved følgende hoved- og nøgletal.</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">Nøgletallene er udarbejdet i overensstemmelse med Den Danske Finansanalytikerforenings anbefalinger og vejledning. Der henvises til definitioner i afsnittet om regnskabspraksis.</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">Seen over a five-year period, the development of the Company is described by the following financial highlights</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">The ratios have been prepared in accordance with the recommendations and standards of the Danish Society of Investments Professionals. Definicions are found under Accounting Policies.</td></tr></table> -294132 -9000 -303320 0 0.805 0 301823 -7691 9188 -303320 0 2019 9188 -39162 -333294 9188 -342482 0 -342482 0 0 -342482 <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="7" align="left" valign="middle" ><b></b></td></tr><tr><td colspan="7"></td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" ><b>Tilskud og sponsorater</b></td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" ><b>Grants and sponsorships</b></td></tr><tr><td width="2%" ></td><td width="6%" ></td><td width="16%" ></td><td width="18%" ></td><td width="18%" ></td><td width="18%" align="right" valign="middle" >2019</td><td width="22%" align="right" valign="middle" >2018</td></tr><tr><td width="2%" ></td><td width="6%" ></td><td width="16%" ></td><td width="18%" ></td><td width="18%" ></td><td width="18%" colspan="1" align="right" valign="middle" >DKK</td><td width="22%" colspan="1" align="right" valign="middle" >DKK</td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" >Aarhus Kommune</td><td width="18%" align="right" valign="middle" > 0</td><td width="22%" align="right" valign="middle" >6.553.600</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Aarhus Municipality</td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" >Andre kommuner</td><td width="18%" align="right" valign="middle" > 0</td><td width="22%" align="right" valign="middle" >2.002.152</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Other Municipalities</td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" >Region Midtjylland (regulering)</td><td width="18%" align="right" valign="middle" > 0</td><td width="22%" align="right" valign="middle" >-435.000</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Central Denmark Region (ajustment)</td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" >Staten</td><td width="18%" align="right" valign="middle" > 0</td><td width="22%" align="right" valign="middle" >0</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >The Danish government</td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" >Fonde og sponsorer, kontant</td><td width="18%" align="right" valign="middle" > 0</td><td width="22%" align="right" valign="middle" >131</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Foundations and sponsors, cash</td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" >Fonde og sponsorer, vederlagsfrie ydelser</td><td width="18%" align="right" valign="middle" > 0</td><td width="22%" align="right" valign="middle" >-40.318</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Foundations and sponsors, in-kind</td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" >Aarhus Kommune, finansiering af medarbejdere</td><td width="18%" align="right" valign="middle" > 0</td><td width="22%" align="right" valign="middle" >0</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Aarhus Municipality, financing of secondment</td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" >Aarhus Universitet</td><td width="18%" align="right" valign="middle" > 0</td><td width="22%" align="right" valign="middle" >1.711.719</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Aarhus university</td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" >Øvrige</td><td width="18%" align="right" valign="middle" > 0</td><td width="22%" align="right" valign="middle" >150.678</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Other</td></tr><tr><td width="2%" ></td><td width="6%" ></td><td width="16%" ></td><td width="18%" ></td><td width="18%" ></td><td width="18%" align="right" valign="middle" ><b> 0</b></td><td width="22%" align="right" valign="middle" ><b>9.942.962</b></td></tr><tr><td colspan="7"></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="7" align="left" valign="middle" ><b>Fællesomkostninger</b></td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" ><b>Overhead costs</b></td></tr><tr><td width="2%" ></td><td width="6%" ></td><td width="16%" ></td><td width="18%" ></td><td width="18%" ></td><td width="18%" align="right" valign="middle" >2019</td><td width="22%" align="right" valign="middle" >2018</td></tr><tr><td width="2%" ></td><td width="6%" ></td><td width="16%" ></td><td width="18%" ></td><td width="18%" ></td><td width="18%" colspan="1" align="right" valign="middle" >DKK</td><td width="22%" colspan="1" align="right" valign="middle" >DKK</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" ><b>Personaleomkostninger</b></td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" ><b>Staff expenses</b></td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" >Lønninger og vederlag</td><td width="18%" align="right" valign="middle" > 0</td><td width="22%" align="right" valign="middle" >3.518.746</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Salaries</td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" >Pensioner</td><td width="18%" align="right" valign="middle" > 0</td><td width="22%" align="right" valign="middle" >325.869</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Pensions</td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" >Vederlag til direktionen</td><td width="18%" align="right" valign="middle" > 0</td><td width="22%" align="right" valign="middle" >937.312</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Remuneration for the Executive Director</td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" >Fastholdelsesaftale og anden bonus til direktionen</td><td width="18%" align="right" valign="middle" > 0</td><td width="22%" align="right" valign="middle" >159.560</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Retention agreement for the Executive Director</td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" >Vederlag til bestyrelsen</td><td width="18%" align="right" valign="middle" > 0</td><td width="22%" align="right" valign="middle" >0</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Remuneration for the Board of Directors</td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" >Udgifter til social sikring</td><td width="18%" align="right" valign="middle" > 0</td><td width="22%" align="right" valign="middle" >44.168</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Other social security expenses</td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" >Andre personaleomkostninger</td><td width="18%" align="right" valign="middle" > 0</td><td width="22%" align="right" valign="middle" >79.403</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Other staff expenses</td></tr><tr><td colspan="7"></td></tr><tr><td width="2%" ></td><td width="6%" ></td><td width="16%" ></td><td width="18%" ></td><td width="18%" ></td><td width="18%" align="right" valign="middle" ><b> 0</b></td><td width="22%" align="right" valign="middle" ><b>5.065.058</b></td></tr><tr><td colspan="7"></td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" ><b>Gennemsnitligt antal beskæftigede medarbejdere</b></td><td width="18%" colspan="1" align="right" valign="middle" >Antal</td><td width="22%" colspan="1" align="right" valign="middle" >Antal</td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" ><b>Average number of employees.</b></td><td width="18%" colspan="1" align="right" valign="middle" >Number</td><td width="22%" colspan="1" align="right" valign="middle" >Number</td></tr><tr><td colspan="7"></td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" >Egne medarbejdere</td><td width="18%" align="right" valign="middle" >0</td><td width="22%" align="right" valign="middle" >7,21</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Own employees</td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" >Indlånte medarbejdere *</td><td width="18%" align="right" valign="middle" >0</td><td width="22%" align="right" valign="middle" >1,95</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Seconded employees *</td></tr><tr><td colspan="7"></td></tr><tr><td width="2%" ></td><td width="6%" ></td><td width="16%" ></td><td width="18%" ></td><td width="18%" ></td><td width="18%" align="right" valign="middle" ><b>0</b></td><td width="22%" align="right" valign="middle" ><b>9,16</b></td></tr><tr><td colspan="7"></td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >*) Fonden modtager en række gratis ydelser, såsom arbejdskraft, husleje mv. Indlånte medarbejdere kommer fra kommuner og region.</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >*) Fonden Aarhus receives a number of free services, such as labour, premises, etc. The seconded employees come from Municipalities and Region.</td></tr><tr><td colspan="7"></td></tr><tr><td width="2%" ></td><td width="6%" ></td><td width="16%" ></td><td width="18%" ></td><td width="18%" ></td><td width="18%" align="right" valign="middle" >2019</td><td width="22%" align="right" valign="middle" >2018</td></tr><tr><td colspan="7"></td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" ><b>Andre eksterne omkostninger</b></td><td width="18%" colspan="1" align="right" valign="middle" >DKK</td><td width="22%" colspan="1" align="right" valign="middle" >DKK</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" ><b>Other external expenses</b></td></tr><tr><td colspan="7"></td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" >PR, marketing og kommunikation</td><td width="18%" align="right" valign="middle" >0</td><td width="22%" align="right" valign="middle" >3.201.838</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >PR, Marketing and Communication</td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" >Andre administrationsomkostninger</td><td width="18%" align="right" valign="middle" >301.823</td><td width="22%" align="right" valign="middle" >1.194.681</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Other administration costs</td></tr><tr><td colspan="7"></td></tr><tr><td width="2%" ></td><td width="6%" ></td><td width="16%" ></td><td width="18%" ></td><td width="18%" ></td><td width="18%" align="right" valign="middle" ><b>301.823</b></td><td width="22%" align="right" valign="middle" ><b>4.396.519</b></td></tr><tr><td colspan="7"></td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" ><b>Fællesomkostninger</b></td><td width="18%" align="right" valign="middle" ><b>301.823</b></td><td width="22%" align="right" valign="middle" ><b>9.461.577</b></td></tr><tr><td colspan="7"></td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" ><b>Overhead costs</b></td></tr><tr><td colspan="7"></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="7" align="left" valign="middle" ><b>Programomkostninger</b></td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" ><b>Programme costs</b></td></tr><tr><td colspan="7"></td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Fonden Aarhus 2017 under frivillig likvidation afholder både interne og eksterne programaktiviteter til understøttelse af fondens formål. Den væsentligste del af fondens programaktiviteter udføres af eksterne samarbejdspartnere. Alle tilskud til disse projekter omkostningsføres i det år, hvor fonden har forpligtet sig til at støtte projektet. Nedenfor er vist fondens samlede program aktiviteter for 2019</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Fonden Aarhus 2017 in voluntary liquidation holds both internal and external programme activities to support the purpose of the Foundation. The main parts of the Foundation's programme activities are carried out by external partners. All grants for these projects are expensed in the year in which the Foundation has assumed the obligation to support the project. Below are listed the Foundation's total programme activities for 2019</td></tr><tr><td colspan="7"></td></tr><tr><td width="2%" ></td><td width="6%" ></td><td width="16%" ></td><td width="18%" ></td><td width="18%" ></td><td width="18%" align="right" valign="middle" >2019</td><td width="22%" align="right" valign="middle" >2018</td></tr><tr><td colspan="7"></td></tr><tr><td width="2%" ></td><td width="6%" ></td><td width="16%" ></td><td width="18%" ></td><td width="18%" ></td><td width="18%" colspan="1" align="right" valign="middle" >DKK</td><td width="22%" colspan="1" align="right" valign="middle" >DKK</td></tr><tr><td colspan="7"></td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" >Programaktiviteter, forundersøgelse og evaluering</td><td width="18%" align="right" valign="middle" > 0</td><td width="22%" align="right" valign="middle" >3 341 799</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Programme activities, research and evaluation</td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" >Programaktiviteter, interne projekter</td><td width="18%" align="right" valign="middle" >0</td><td width="22%" align="right" valign="middle" >2.070.584</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Programme activities, internal projects</td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" >Programaktiviteter, eksterne projekter</td><td width="18%" align="right" valign="middle" >-7.691</td><td width="22%" align="right" valign="middle" >6.899.388</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Programme activities, external projects</td></tr><tr><td colspan="7"></td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" ><b>Samlede programaktiviteter</b></td><td width="18%" align="right" valign="middle" ><b>-7.691</b></td><td width="22%" align="right" valign="middle" ><b>12.311.771</b></td></tr><tr><td colspan="7"></td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" ><b>Total programme activities</b></td></tr><tr><td colspan="7"></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="7" align="left" valign="middle" ><b>Egenkapital</b></td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" ><b>Equity</b></td></tr><tr><td colspan="7"></td></tr><tr><td width="2%" ></td><td width="6%" ></td><td width="16%" ></td><td width="18%" ></td><td width="18%" colspan="1" align="right" valign="middle" >Grundkapital</td><td width="18%" colspan="1" align="right" valign="middle" >Dispositionsfond</td><td width="22%" colspan="1" align="right" valign="middle" >I alt</td></tr><tr><td width="2%" ></td><td width="6%" ></td><td width="16%" ></td><td width="18%" ></td><td width="18%" colspan="1" align="right" valign="middle" >Basic capital</td><td width="18%" colspan="1" align="right" valign="middle" >Distributable reserves</td><td width="22%" colspan="1" align="right" valign="middle" >Total</td></tr><tr><td colspan="7"></td></tr><tr><td width="2%" ></td><td width="6%" ></td><td width="16%" ></td><td width="18%" ></td><td width="18%" colspan="1" align="right" valign="middle" >DKK</td><td width="18%" colspan="1" align="right" valign="middle" >DKK</td><td width="22%" colspan="1" align="right" valign="middle" >DKK</td></tr><tr><td colspan="7"></td></tr><tr><td width="42%" colspan="4" align="left" valign="middle" >Egenkapital 1. januar</td><td width="18%" align="right" valign="middle" >300.000</td><td width="18%" align="right" valign="middle" >1.736.189</td><td width="22%" align="right" valign="middle" >2.036.189</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Equity at 1 January</td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" >Årets resultat</td><td width="18%" align="right" valign="middle" >-303.320</td><td width="22%" align="right" valign="middle" >-303.320</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Net profit/loss for the year</td></tr><tr><td colspan="7"></td></tr><tr><td width="42%" colspan="4" align="left" valign="middle" ><b>Egenkapital 31. december</b></td><td width="18%" align="right" valign="middle" ><b>300.000</b></td><td width="18%" align="right" valign="middle" ><b>1.432.869</b></td><td width="22%" align="right" valign="middle" ><b>1.732.869</b></td></tr><tr><td colspan="7"></td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Equity at 31 December</td></tr><tr><td colspan="7"></td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Der har ikke i regnskabsåret og siden stiftelsen været ændringer i grundkapitalen.</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >During the financial year and since the establishment, there have been no changes in the basic capital.</td></tr><tr><td colspan="7"></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="2%" ></td><td width="6%" ></td><td width="16%" ></td><td width="18%" ></td><td width="18%" ></td><td width="18%" align="right" valign="middle" >2019</td><td width="22%" align="right" valign="middle" >2018</td></tr><tr><td colspan="7"></td></tr><tr><td width="2%" ></td><td width="6%" ></td><td width="16%" ></td><td width="18%" ></td><td width="18%" ></td><td width="18%" colspan="1" align="right" valign="middle" >DKK</td><td width="22%" colspan="1" align="right" valign="middle" >DKK</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" ><b>Pengestrømsopgørelse - reguleringer</b></td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" ><b>Cash flow statement - adjustments</b></td></tr><tr><td colspan="7"></td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" >Finansielle omkostninger</td><td width="18%" align="right" valign="middle" >9.188</td><td width="22%" align="right" valign="middle" >40.993</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Financial expenses</td></tr><tr><td colspan="7"></td></tr><tr><td width="2%" ></td><td width="6%" ></td><td width="16%" ></td><td width="18%" ></td><td width="18%" ></td><td width="18%" align="right" valign="middle" ><b>9.188</b></td><td width="22%" align="right" valign="middle" ><b>40.993</b></td></tr><tr><td colspan="7"></td></tr><tr><td width="2%" ></td><td width="6%" ></td><td width="16%" ></td><td width="18%" ></td><td width="18%" ></td><td width="18%" align="right" valign="middle" >2.019</td><td width="22%" align="right" valign="middle" >2.018</td></tr><tr><td colspan="7"></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="2%" ></td><td width="6%" ></td><td width="16%" ></td><td width="18%" ></td><td width="18%" ></td><td width="18%" colspan="1" align="right" valign="middle" >DKK</td><td width="22%" colspan="1" align="right" valign="middle" >DKK</td></tr><tr><td colspan="7"></td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" ><b>Pengestrømsopgørelse - ændring i driftskapital</b></td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" ><b>Cash flow statement - changes in working capital</b></td></tr><tr><td colspan="7"></td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" >Ændring i tilgodehavender</td><td width="18%" align="right" valign="middle" >-19.708</td><td width="22%" align="right" valign="middle" >33.041.658</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Changes in receivables</td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" >Ændringer i leverandører</td><td width="18%" align="right" valign="middle" >-134.767</td><td width="22%" align="right" valign="middle" >-4.698.919</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Changes in trade payables</td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" >Ændring i anden gæld</td><td width="18%" align="right" valign="middle" >115.313</td><td width="22%" align="right" valign="middle" >-9.933.356</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Changes in other payables</td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" >Ændring i hensættelse til programaktiviteter</td><td width="18%" align="right" valign="middle" >0</td><td width="22%" align="right" valign="middle" >-38.951.626</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Changes in provisions for programme payables</td></tr><tr><td width="60%" colspan="5" align="left" valign="middle" >Ændring i periodeafgrænsningsposter</td><td width="18%" align="right" valign="middle" >0</td><td width="22%" align="right" valign="middle" >-1.211.719</td></tr><tr><td width="100%" colspan="7" align="left" valign="middle" >Changes in deferred incom</td></tr><tr><td colspan="7"></td></tr><tr><td width="2%" ></td><td width="6%" ></td><td width="16%" ></td><td width="18%" ></td><td width="18%" ></td><td width="18%" align="right" valign="middle" ><b>-39.162</b></td><td width="22%" align="right" valign="middle" ><b>-21.753.962</b></td></tr><tr><td colspan="7"></td></tr></table> Tyge Kjær Rasmussen 2020-05-20 Fonden Aarhus 2017 under frivillig likvidation Rådhuspladsen 2, c/o CØF DK-8000 Aarhus C 34731152 8 Aarhus Advokat Tyge Kjær Rasmussen 8000 Aarhus C Rådhuspladsen 3, c/o Kromann Reumert <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">Management’s Statement on the Annual 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">Likvidator har dags dato behandlet og godkendt årsrapporten for regnskabsåret 2019 for Fonden Aarhus 2017 under frivillig likvidation.</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 Liquidator has today considered and adopted the Annual Report of Fonden Aarhus 2017 in voluntary liquidation for the financial year 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 aflægges 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 is prepared 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">Det tilkendegives hermed</td></tr><tr><td colspan="1">1. at årsrapporten er retvisende, dvs. at årsrapporten ikke indeholder væsentlige fejlinformationer eller udeladelser, herunder at ledelsesberetningen er fyldestgørende,</td></tr><tr><td colspan="1">2. at de dispositioner, som er omfattet af regnskabsaflæggelsen, er i overensstemmelse med meddelte bevillinger, love og andre forskrifter samt med indgåede aftaler og sædvanlig praksis, og</td></tr><tr><td colspan="1">3. at der er etableret forretningsgange, der sikrer en økonomisk hensigtsmæssig forvaltning af de midler og ved driften af de aktiviteter, der er omfattet af årsrapporten.</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 hereby state</td></tr><tr><td colspan="1">1. that the Annual Report is true and fair, so the Annual Report does not comprise material misstatements or omissions and the Management’s Review is complete.</td></tr><tr><td colspan="1">2. that the dispositions, which are comprises of the financial reporting, are in accordance with said grants, laws and other regulations as well as agreed contracts and common practice, and</td></tr><tr><td colspan="1">3. that procedures have been made, which ensure an economically appropriate performance of the means, and of the operation of the activities, which are comprised of the Annual Report.</td></tr></table> Aarhus 2020-05-20 <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 likvidator i Fonden Aarhus 2017 under frivillig likvidation</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 Liquidator of Fonden Aarhus 2017 in voluntary liquidation</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">Det er vores opfattelse, at årsregnskabet giver et retvisende billede af fondens aktiver, passiver og finansielle stilling pr. 31. december 2019 samt af resultatet af fondens aktiviteter for regnskabsåret 1. januar - 31. december 2019 i overensstemmelse med årsregnskabsloven.</td></tr><tr><td colspan="1">Vi har revideret årsregnskabet for Fonden Aarhus 2017 under frivillig likvidation for regnskabsåret 1. januar - 31. december 2019, der omfatter resultatopgørelse, balance og noter, herunder anvendt regnskabspraksis (”regnskabet”).</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">In our opinion, the Financial Statements give a true and fair view of the financial position of the Foundation at 31 December 2019, and of the results of the Foundation’s operations for the financial year 1 January - 31 December 2019 in accordance with the Danish Financial Statements Act.</td></tr><tr><td colspan="1">We have audited the Financial Statements of Fonden Aarhus 2017 in voluntary liquidation for the financial year 1 January - 31 December 2019, which comprise income statement, balance sheet and notes, including a summary of significant accounting policies (“financial statements”).</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, samt god offentlig revisionsskik, idet revisionen udføres efter bestemmelser svarende til §§ 10-14 i bekendtgørelse om regnskab og revision af projekt- og aktivitetstilskud fra Kulturministeriet. Vores ansvar ifølge disse standarder og krav er nærmere beskrevet i revisionspåtegningens afsnit Revisors ansvar for revisionen af regnskabet. Vi er uafhængige af fonden 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. Det er vores opfattelse, at det opnåede revisionsbevis er tilstrækkeligt og egnet som grundlag for vores konklusion.</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, and generally accepted public auditing standards, as the audit is performed according to §§ 10-14 in the Danish Executive Order of Financial Statements and Audit of Project and Activity Grants from the Danish Ministry of Culture. 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 are independent of the Foundation 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 requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.</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 regnskabet 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 regnskabet er det vores ansvar at læse ledelsesberetningen og i den forbindelse overveje, om ledelsesberetningen er væsentligt inkonsistent med regnskabet 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 Management’s Review.</td></tr><tr><td colspan="1">Our opinion on the financial statements does not cover 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 Management’s Review and, in doing so, consider whether 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 Management’s Review provides the information required under the Danish Financial Statements Act.</td></tr><tr><td colspan="1">Based on the work we have performed, in our view, 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 in Management’s Review.</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 regnskabet</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 regnskab uden væsentlig fejlinformation, uanset om denne skyldes besvigelser eller fejl.</td></tr><tr><td colspan="1">Ved udarbejdelsen af regnskabet er ledelsen ansvarlig for at vurdere fondens evne til at fortsætte driften; at oplyse om forhold vedrørende fortsat drift, hvor dette er relevant; samt at udarbejde regnskabet på grundlag af regnskabsprincippet om fortsat drift, medmindre ledelsen enten har til hensigt at likvidere fonden, 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 Responsibilities 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 Foundation’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 Foundation 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 regnskabet</td></tr><tr><td colspan="1">Vores mål er at opnå høj grad af sikkerhed for, om regnskabet 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, samt god offentlig revisionsskik, jf. Bekendtgørelse om regnskab og revision af projekt- og aktivitetstilskud fra Kulturministeriet, 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 brugerne træffer på grundlag af regnskabet.</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, samt god offentlig revisionsskik, jf. Bekendtgørelse om regnskab og revision af projekt- og aktivitetstilskud fra Kulturministeriet, 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 regnskabet, 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 fondens 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 regnskabet 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 fondens 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 regnskabet eller, hvis sådanne oplysninger ikke er tilstrækkelige, modificere vores konklusion. Vores konklusioner er baseret på det revisionsbevis, der er opnået frem til datoen for vores revisionspåtegning. Fremtidige begivenheder eller forhold kan dog medføre, at fonden ikke længere kan fortsætte driften.</td></tr><tr><td colspan="1">·         Tager vi stilling til den samlede præsentation, struktur og indhold af regnskabet, herunder noteoplysningerne, samt om regnskabet 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 blandt andet 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, and generally accepted public auditing standards according the Danish Executive Order of Financial Statements and Audit of Project and Activity Grants from the Danish Ministry of Culture 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.</td></tr><tr><td colspan="1">As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, and generally accepted public auditing standards according to the Danish Executive Order of Financial Statements and Audit of Project and Activity Grants from the Danish Ministry of Culture, we exercise professional judgement and maintain professional scepticism 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 Foundation’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 Foundation’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 Foundation 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 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> Aarhus 2020-05-20 <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">Generelle oplysninger om fonden</td></tr><tr><td colspan="1">Væsentlige aktiviteter og sådan uddeler vi</td></tr><tr><td colspan="1">Fonden er en erhvervsdrivende fond, som har til formål at styrke den langsigtede udvikling og betydning af kunst- og kulturlivet i Aarhus og Region Midtjylland og bidrage til at styrke den europæiske kulturs mangfoldighed.</td></tr><tr><td colspan="1">Fondens formål er således at tilbyde oplevelser til borgere og gæster i Aarhus og Region Midtjylland, primært via Kulturhovedstadsprojektet. Omkostningerne i fondens resultatopgørelse er de omkostninger, som medgår til at tilbyde disse oplevelser for borgere og gæster i Aarhus og Region Midtjylland og leve op til fondens formål.</td></tr><tr><td colspan="1">Fonden er efter godkendelse af Erhvervsstyrelsen trådt i frivillig likvidation den 4. september 2018. Godkendelsen er modtaget den 4. januar 2019, hvorefter bestyrelsen er fratrådt. I relation til ”lovpligtig redegørelse om god fondsledelse” jf. Årsregnskabslovens § 77a er fondens bestyrelse fratrådt i forbindelse med likvidationen, og fonden har ikke haft bestyrelse i regnskabsåret. Fonden følger derfor ikke anbefalingen for god fondsledelse, der ikke er relevant for fonden.</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">General information about the Foundation</td></tr><tr><td colspan="1">Significant activities and how we allocate</td></tr><tr><td colspan="1">The Foundation is a commercially operating foundation that aims to strengthen the long-term development and significance of art and cultural life in Aarhus and the Central Denmark Region and to contribute to strengthen the diversity of European culture.</td></tr><tr><td colspan="1">The purpose of the Foundation is to offer experiences to citizens and guests in Aarhus and the Central Denmark Region, primarily by means of the Cultural Capital project. The expenses recognised in the Foundation’s Income Statement are the expenses used for offering these experiences to citizens and guests in Aarhus and the Central Denmark Region and for complying with the purpose of the Foundation.</td></tr><tr><td colspan="1">In accordance with approval by the Danish Business Authority, the Foundation entered into voluntary liquidation on 4 September 2018. The approval was received on 4 January 2019 after which the Board of Directors resigned. With respect to the “statutory statement of governance practices” pursuant to section 77a of the Danish Financial Statements Act, the Board of Directors of the Foundation has resigned in connection with the liquidation, and the Foundation has not had a board of directors during the year. Consequently, the Foundation has not observed the recommendations on foundation governance, which are not relevant to the Foundation.</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">Beretning</td></tr><tr><td colspan="1">Årets resultat er TDKK -303 og er i overensstemmelse med de planlagte aktiviteter og budgetter.</td></tr><tr><td colspan="1">Det er på bestyrelsesmødet den 4. september 2018 besluttet, at Fonden Aarhus 2017 skal træde i frivillig likvidation. Fondsmyndighederne har godkendt den frivillige likvidation den 4. januar 2019.</td></tr><tr><td colspan="1">Likvidator har i regnskabsåret 2019 igangsat afviklingen af fonden, herunder indsendt redegørelse til fondsmyndigheden, været i dialog med bevillingsgivere og bevillingsmodtagere med henblik på afslutning af fondens aktiviteter.</td></tr><tr><td colspan="1">Det forventes, at den endelige likvidation vil blive afsluttet i løbet af 1-2 år. I forbindelse hermed vil fonden have underskud som forventes finansieret af fondens midler, og et afsluttende provenue vil blive uddelt i overensstemmelse med fondens formål.</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">Review</td></tr><tr><td colspan="1">The result for the year is TDKK -303k and is in accordance with the planned activities and budgets.</td></tr><tr><td colspan="1">At the Board meeting on 4 September 2018, it was resolved that Fonden Aarhus 2017 is to enter into voluntary liquidation. The voluntary liquidation was approved by the Commercial Foundations Supervisory Authority on 4 January 2019.</td></tr><tr><td colspan="1">In financial year 2019, the liquidator commenced the dissolution of the Foundation by filing a report with the Danish Commercial Foundations Supervisory Authority and by communicating with grantors and recipients to close down the Foundation’s activities.</td></tr><tr><td colspan="1">The final liquidation is expected completed in the course of 1-2 years. During this period, the Foundation will realise losses which are expected funded by the Foundation’s funds, and closing proceeds will be distributed in accordance with the purpose of the Foundation.</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">Lovpligtig redegørelse</td></tr><tr><td colspan="1">I relation til ”Lovpligtig redegørelse om god fondsledelse” jf. Arsregnskabslovens §77a, bemærkes det, at fondens bestyrelse er fratrådt i forbindelse med likvidationen, og at fonden i regnskabsåret ikke har haft en bestyrelse. Fonden følger derfor ikke anbefalingerne for god fondsledelse, der ikke er relevante for fonden.</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">Statutory Review</td></tr><tr><td colspan="1">With respect to the “statutory statement of governance practices” pursuant to section 77a of the Danish Financial Statements Act, it should be noted that the Board of Directors of the Foundation has resigned in connection with the liquidation, and that the Foundation has not had a board of directors during the year. Consequently, the Foundation does not observe the recommendations on foundation governance, which are not relevant to the Foundation.</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">Der er som følge af fondens særlige aktivitet valgt at foretage tilpasninger af opstillingsformen af resultatopgørelsen og balancen med henblik på at opfylde kravet om retvisende billede, jf. Årl. § 23.</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">Due to the special activity of the Foundation it has been chosen to make adjustments to the presentation of the income statement and the balance sheet in order to comply with the requirement regarding a true and fair view, cf section 23 of 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">Årsrapporten for Fonden Aarhus 2017 under frivillig likvidation for 2019 er udarbejdet i overensstemmelse med årsregnskabslovens bestemmelser for mellemstore virksomheder i regnskabsklasse 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 Fonden Aarhus 2017 in voluntary liquidation for 2019 has been prepared in accordance with the Danish Financial Statements Act applying to medium-sized companies of the reporting class C.</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">Årsrapporten 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">Indtægter indregnes i resultatopgørelsen i takt med, at de indtjenes. Herudover indregnes værdireguleringer af finansielle aktiver og forpligtelser. Tilskud indregnes i takt med, at fonden har erhvervet endelig ret til modtagelse heraf. I resultatopgørelsen indregnes ligeledes alle omkostninger.</td></tr><tr><td colspan="1">Aktiver indregnes i balancen, når det er sandsynligt, at fremtidige økonomiske fordele vil tilflyde fonden, 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 fonden, 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><tr><td colspan="1">Som målevaluta anvendes danske kroner. Alle andre valutaer anses som fremmed valuta.</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 for 2019 is presented in DKK.</td></tr><tr><td colspan="1">Recognition and measurement</td></tr><tr><td colspan="1">Revenues are recognised in the income statement as earned, including value adjustments of financial assets and liabilities. Grants are recognised as the Foundation has earned the right to receive it. Moreover, all expenses incurred for the year are 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 foundation, 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 foundation, 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><tr><td colspan="1">Danish kroners is used as measurement currency. All other currencies are regarded as foreign currencies.</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">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.</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">Transactions in foreign currencies are translated at the exchange rates at the dates of transaction. Exchange rate 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.</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">Tilskud og sponsorater</td></tr><tr><td colspan="1">Fondens tilskud og sponsorater omfatter tilskud og sponsorater som vedrører perioden, hvor fonden har erhvervet endelig ret til tilskuddet eller sponsoratet.</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">Grants and sponsorships</td></tr><tr><td colspan="1">The Foundation’s grants and sponsorships include grants and sponsorships relating to the period in which the Foundation has earned the right to grant or sponsorship.</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">Fællessomkostninger</td></tr><tr><td colspan="1">Fællesomkostninger omfatter andre eksterne omkostninger og personaleomkostninger.</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">Overhead costs</td></tr><tr><td colspan="1">Overhead costs include Other external expenses and personnel 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">Programaktiviteter</td></tr><tr><td colspan="1">Programaktiviteter i resultatopgørelsen vedrører udgifter til udførelse af fondens programaktiviteter. Den væsentligste del af fondens programaktiviteter udføres af eksterne samarbejdspartnere. Alle tilskud til disse projekter udgiftsføres i det år, hvor fonden har forpligtiget sig til at støtte projektet.</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">Programme activities</td></tr><tr><td colspan="1">Programme activities in the income statement relates to costs for the execution of programme activities. The main part of the Foundation's programme activities are carried out by external partners. All grants for these projects are expensed in the year in which the Foundation has assumed the obligation to support the project.</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 omfatter renter.</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 comprise interest.</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, som består af årets aktuelle skat og årets udskudte skat, indregnes i resultatopgørelsen med den del, der kan henføres til årets resultat og direkte på egenkapitalen med den del, der kan henføres til egenkapitaltransaktioner. Den skat, der indregnes i resultatopgørelsen, klassificeres som henholdsvis skat af ordinær drift og skat af ekstraordinære poster.</td></tr><tr><td colspan="1">Ændring i udskudt skat som følge af ændringer i skattesatser indregnes i resultatopgørelsen.</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 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. The tax recognised in the income statement is classified as tax on ordinary activities and tax on extraordinary items, respectively</td></tr><tr><td colspan="1">Any changes in deferred tax due to changes to tax rates are recognised 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">Tilgodehavender</td></tr><tr><td colspan="1">Tilgodehavender måles i balancen til nominel værdi eller en lavere nettorealisationsværdi.</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 nominal value and net realisable value.</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">Periodeafgrænsningsposter, aktiver</td></tr><tr><td colspan="1">Periodeafgrænsningspoter opført som aktiver omfatter afholdte forudbetalte omkostninger vedrørende efterfølgende regnskabsår.</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">Prepayments</td></tr><tr><td colspan="1">Prepayments comprise prepaid expenses concerning subsequent years.</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">Gældsforpligtelser</td></tr><tr><td colspan="1">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">Debts</td></tr><tr><td colspan="1">Debts are measured at amortised cost, substantially corresponding to nominal value.</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">Periodeafgrænsningsposter, forpligtelser</td></tr><tr><td colspan="1">Periodeafgrænsningsposter opført som forpligtelser udgøres af modtagne betalinger vedrørende indtægter i de efterfølgende regnskabsår.</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 income</td></tr><tr><td colspan="1">Deferred income comprises payments received in respect of income in subsequent years.</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">Pengestrømsopgørelse</td></tr><tr><td colspan="1">Pengestrømsopgørelsen viser selskabets pengestrømme for året opdelt på drifts- investerings- og finansieringsaktivitet, årets forskydning i likvider samt selskabets likvider ved årets begyndelse og slutning.</td></tr><tr><td colspan="1">Pengestrøm fra driftsaktivitet</td></tr><tr><td colspan="1">Pengestrøm fra driftsaktiviteten opgøres som årets resultat reguleret for ændring I driftskapitalen og ikke kontante resultatposter som af- og nedskrivninger og hensatte forpligtelser. Driftskapitalen omfatter omsætningsaktiver minus kortfristede gældsforpligtelser eksklusive de poster, der indgår i likvider.</td></tr><tr><td colspan="1">Pengestrøm fra investeringsaktivitet</td></tr><tr><td colspan="1">Pengestrøm fra investeringsaktiviteten omfatter pengestrømme fra køb og salg af immaterielle og materielle anlægsaktiver.</td></tr><tr><td colspan="1">Pengestrøm fra finansieringsaktivitet</td></tr><tr><td colspan="1">Pengestrøm fra finansieringsaktiviteten omfatter pengestrømme fra optagelse og tilbagebetaling af langfristende gældsforpligtelser samt ind- og udbetalinger til og fra selskabsdeltagerne.</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">Pengestrømsopgørelsen kan ikke udledes alene af det offentliggjorte regnskabsmateriale.</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 Flow Statement</td></tr><tr><td colspan="1">The cash flow statement shows the Company’s cash flows for the year broken down by operating, investing and financing activities, changes for the year in cash and cash equivalents as well as the Company’s cash and cash equivalents at the beginning and end of the year.</td></tr><tr><td colspan="1">Cash flows from operating activities</td></tr><tr><td colspan="1">Cash flows from operating activities are calculated as tne net profit/loss for the year adjusted for changes in working capital and non-cash operating items such as depreciation, amortisation and impairment losses, and provisions. Working capital comprises current assets less short-term debt excluding items included in cash and cash equivalents.</td></tr><tr><td colspan="1">Cash flows from investing activities</td></tr><tr><td colspan="1">Cash flows from investing activities comprise cash flows from acquisitions and disposals of intangible assets and property, plant and equipment.</td></tr><tr><td colspan="1">Cash flows from financing activities</td></tr><tr><td colspan="1">Cash flows from financing activities comprise cash flows from the raising and repayment of long-term debt as well as payments to and from shareholders.</td></tr><tr><td colspan="1">The cash flow statement cannot be immediately derived from the published financial records</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">Likvider</td></tr><tr><td colspan="1">Likvide midler består af “Likvide beholdninger” under omsætningsaktiver.</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 and cash equivalents</td></tr><tr><td colspan="1">Cash and cash equivalents comprise ”Cash at bank and in hand” under current assets.</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">Hoved- og nøgletal</td></tr><tr><td colspan="1">Forklaring af nøgletal</td></tr><tr><td colspan="1">Soliditetsgrad = Egenkapital ultimo x 100 / Samlede aktiver ultimo</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 Highlights</td></tr><tr><td colspan="1">Explanation of financial ratios</td></tr><tr><td colspan="1">Solvency ratio = Equity at year end x 100 / Total assets at year end</td></tr></table> Årsrapport 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Strandvejen 44 2900 Hellerup 2018-01-01 2018-12-31 Revisionspåtegning 0.000 Tilskud og sponsorater 0 Tilskud og sponsorater 9943000 Tilskud og sponsorater 202200000 Tilskud og sponsorater 105125000 Tilskud og sponsorater 81388000 -11831000 -41000 -11871000 0 0.822 -1862000 -74000 -1937000 0 0.201 -12740000 -19000 -12759000 0 0.267 12664000 0 12664000 0 0.488 2154300 1732869 7779 14322 22101 2132199 2154300 300000 1432869 0 421431 421431 421431 2154300 2132199 2477000 2036000 69144000 13908000 59316000 15844000 58592000 28603000 9942962 9461577 12311771 -11830386 40993 -11871379 0 -11871379 2018 40993 -21753962 -33584348 40993 -33625341 0 -33625341 0 0 -33625341 0 0 -303320 -11871379 2393 0 2393 2474681 2477074 2477074 300000 1736189 2036189 134767 306118 440885 440885 2477074 2474681 Årets resultat -303320 Årets resultat -11871379 2474681 36100022 Nobelparken, Jens Chr. Skous Vej 1 8000 Aarhus C 8932 0000 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab 33771231 Henrik Kragh statsautoriseret revisor mne26783