Årsrapport25578198KPMGBredskifte Allé 138210 Aarhus V2014-03-012015-02-282015-06-0120977841Scan-Thor Holding ApSPoppelvej17400HerningDKDanmark1998-03-31HerningKPMG25578198Michael MortensenState Authorised Public AccountantBredskifte Allé138210Aarhus VDKDanmark+45 707077602015-06-01Knud Thor LarsenRegnskabsklasse BRevisionspåtegningKnud Thor LarsenHanjo Kurt SchneiderChairmanMichael DumkeChristian G. Thor LarsenKnud Thor LarsenAarhusKPMGMichael MortensenState Authorised Public Accountant-180630-180630248291010852048002464767108520400246476710852042482910-106799-18143119200358026064208700580260642087005802606420870058026064208700200000200000543170338377171358401539835767543419170035063170003506317000350631700058026064208700SIA Scan-Thors BaltikumRiga (Latvia)100580260624829102000003837717153983-8779200-1100402482910-18143-8779208779202000005431703135840100000The Board of Directors and the Executive Board have today discussed and approved the annual report of Scan-Thor Holding ApS for the financial year 1 March 2014 - 28 February 2015.The annual report has been prepared in accordance with the Danish Financial Statements Act.It is our opinion that the financial statements give a true and fair view of the Company's assets, liabilities and financial position at 28 February 2015 and of the results of the Company's operations for the year 1 March 2014 - 28 February 2015.To the Shareholders of Scan-Thor Holding ApSWe have audited the financial statements of Scan-Thor Holding ApS for the financial year 1 March 2014 - 28 February 2015. The financial statements comprise accounting policies, income statement, balance sheet and notes. The financial statements are prepared in accordance with the Danish Financial Statements Act.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 that Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.Our responsibility is to express an opinion on the financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing and additional requirements under Danish audit regulation. This requires that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance as to whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors' judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditors consider internal control relevant to the Company's preparation of financial statements that give a true and fair view in order to to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Companys's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by Management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Our audit has not resulted in any qualification.In our opinion, the financial statements give a true and fair view of the Company´s assets, liabilities and financial position at 28 February 2015 and of the results of the Company's operations for the financial year 1 March 2014 - 28 February 2015 in accordance with the Danish Financial Statements Act.The Annual Report of Scan-Thor Holding ApS for 2014/15 has been prepared in accordance with the provisions of the Danish Financial Statements Act applying to enterprises of reporting class B. The accounting policies applied remain unchanged from previous years. In accordance with the Danish Financial Statements Act 110, the Company has chosen not to prepare consolidated financial statements.Other external costs include costs related to administration.Financial income and expenses are recognised in the income statement at the amounts relating to the financial year. Financial items comprise interest income and interest expense, costs of finance leases as well as realised and unrealised gains and losses on securities, payables and transactions in foreign currencies, amortisation of financial assets and liabilities as well as surcharges and refunds under the on-account tax scheme, etc. Dividends from investments in subsidiaries are recognised in the income statement in the year when the dividends are declared. Income statement The proportionate share of the individual subsidiaries' profits/losses after tax is recognised in the income statement after proportionate elimination of internal profit/loss and less amortised goodwill. Balance sheet Investments in subsidiaries are measured at the proportionate share of the enterprises' net asset values calculated in accordance with the parent company's accounting policies minus or plus unrealised intra-group profits and losses and plus or minus any residual value of positive or negative goodwill determined in accordance with the acquisition method. Net revaluation of investments in subsidiaries is recognised in the reserve for net revaluation in equity according to the equity method to the extent that the carrying amount exceeds cost.Net revaluation of investments in subsidiaries is recognised at cost in the reserve for net revaluation according to the equity method. The reserve may be eliminated in case of losses, realisation of investments or a change in accounting estimates. The reserve cannot be recognised at a negative amount. The expected dividend payment for the year is disclosed as a separate item under equity.Amounts owed to associates and other payables are measured at amortisated cost.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 rates at the transaction date and 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 the exchange rates at the balance sheet date. The difference between the exchange rates at the balance sheet date and at 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. Foreign subsidiaries are considered separate entities. The income statements are translated at the average exchange rates for the month, and the balance sheet items are translated at the exchange rates at the balance sheet date. Currency translation differences arisen when translating foreign subsidiaries' equity at the beginning of the year using the closing rate and when translating income statements from average exchange rates using the closing rate are recognised directly in equity.The business objective of the Company is to carry out investment and finance activities.209778412014-03-012015-02-28209778412014-03-012015-02-281209778412013-03-012014-02-28209778412014-03-012015-02-28e:ReserveForNetRevaluationAccordingToEquityMethodMember209778412014-03-012015-02-28e:RetainedEarningsMember209778412013-03-012014-02-28e:RetainedEarningsMember209778412014-02-28209778412015-02-28209778412014-03-012015-02-281209778412014-03-012015-02-282209778412014-03-012015-02-283209778412014-03-012015-02-284209778412014-03-012015-02-281209778412014-03-01e:ContributedCapitalMember209778412014-03-012015-02-28e:ContributedCapitalMember209778412015-02-28e:ContributedCapitalMember209778412014-03-01e:ReserveForNetRevaluationAccordingToEquityMethodMember209778412015-02-28e:ReserveForNetRevaluationAccordingToEquityMethodMember209778412014-03-012015-02-28e:ReserveForNetRevaluationAccordingToEquityMethodMember209778412014-03-01e:RetainedEarningsMember209778412014-03-012015-02-28e:RetainedEarningsMember209778412015-02-28e:RetainedEarningsMember209778412015-02-281209778412013-03-012014-02-28e:ReserveForNetRevaluationAccordingToEquityMethodMember209778412014-03-012015-02-28e:SubsidiaryMember1209778412015-02-28e:SubsidiaryMember1xbrli:sharesiso4217:DKKxbrli:pure