273535762016-01-012016-12-31273535762016-01-012016-12-31Direktionsmedlem 01273535762016-01-012016-12-31Bestyrelsesmedlem 1273535762016-01-012016-12-31Bestyrelsesmedlem 2273535762016-01-012016-12-31Bestyrelsesmedlem 3273535762015-12-31273535762016-12-31273535762015-01-012015-12-31273535762016-01-012016-12-31fsa:RetainedEarningsMember273535762015-01-012015-12-31fsa:RetainedEarningsMember273535762016-01-012016-12-31fsa:RetainedEarningsMember273535762015-01-012015-12-31fsa:RetainedEarningsMember273535762016-12-31fsa:ContributedCapitalMember273535762015-12-31fsa:ContributedCapitalMember273535762016-12-31fsa:RetainedEarningsMember273535762015-12-31fsa:RetainedEarningsMember273535762016-01-012016-12-31fsa:ParentOfSmallestGroupInWhichReportingEntityIsSubsidiaryMember273535762016-01-012016-12-31Revisionsvirksomhed 01273535762016-01-012016-12-31Revisionsvirksomhed 02273535762016-01-012016-12-31Revisionsvirksomhed 01 - Revisor 01273535762016-01-012016-12-31Revisionsvirksomhed 01 - Revisor 02iso4217:DKKThe object of the Company is to carry on engineering, render consultancy services and sell personnel services to the cement and minerals industry as well as to carry on any other activities as deemed related thereto by the Board of Directors. Pak Dan Consult A/S is a wholly-owned subsidiary of Cement Plant Consultants A/S and is included in the consolidated financial statements of Cement Plant Consultants A/S. Pak Dan Consult A/S realised a net profit of DKK 33 thousand, which is considered satisfactory. The profit for the year of DKK 33 thousand is to be transferred to next year. The balance sheet total at financial year-end 2016 is DKK 867 thousand and the equity at the balance sheet date is DKK 710 thousand. Uncertainty relating to recognition and measurement Management believes that there are no significant uncertainties associated with the preparation of the annual report. Unusual circumstances The annual report is not affected by unusual circumstances. Outlook A slight improvement is expected in the financial performance for 2017, although there is still some slowdown in the market. No events have occurred after the balance sheet date to this date which would influence the evaluation of this annual report. Henrik Peter SamsøeThe Board of Directors and the Executive Board have today considered and approved the annual report of Pak Dan Consult A/S for the financial year 01.01.2016 - 31.12.2016.The annual report is presented in accordance with the Danish Financial Statements Act. We recommend the annual report for adoption at the Annual General Meeting. We believe that the management commentary contains a fair review of the affairs and conditions referred to therein. Peter ThomsenErik Bonde PedersenHenrik Peter SamsøeChairman65000317000383000549000478000866000926000650008660008610006500020002880003520002900029000156000249000-5500010000211000239000790006800054000550001140002260002100019500030002000-51000-5300042000-22000This annual report has been presented in accordance with the provisions of the Danish Financial Statements Act governing reporting class B enterprises with addition of certain provisions for reporting class C enterprises. Assets are recognised in the balance sheet when it is probable as a result of a prior event that future economic benefits will flow to the Entity, and the value of the asset can be measured reliably. Liabilities are recognised in the balance sheet when the Entity has a legal or constructive obligation as a result of a prior event, and it is probable that future economic benefits will flow out of the Entity, and the value of the liability can be measured reliably. On initial recognition, assets and liabilities are measured at cost. Measurement subsequent to initial recognition is effected as described below for each financial statement item. Anticipated risks and losses that arise before the time of presentation of the annual report and that confirm or invalidate affairs and conditions existing at the balance sheet date are considered at recognition and measurement. Income is recognised in the income statement when earned, whereas costs are recognised by the amounts attributable to this financial year.Receivables are measured at amortised cost, usually equalling nominal value less write-downs for bad and doubtful debts. Deferred tax is recognised on all temporary differences between the carrying amount and tax-based value of assets and liabilities, for which the tax-based value of assets is calculated based on the planned use of each asset. Deferred tax assets, including the tax base of tax loss carryforwards, are recognised in the balance sheet at their estimated realisable value, either as a set-off against deferred tax liabilities or as net tax assets. Prepayments comprise incurred costs relating to subsequent financial years. Prepayments are measured at cost. Cash comprises cash in hand and bank deposits. Other financial liabilities are measured at amortised cost, which usually corresponds to nominal value. Revenue from the sale of manufactured goods and goods for resale is recognised in the income statement when delivery is made and risk has passed to the buyer. Production costs comprise expenses incurred to earn revenue for the financial year. Production costs comprise direct and indirect costs for raw materials and consumables included in the production process. Administrative expenses comprise expenses incurred for the Entity’s administrative functions, including wages and salaries for administrative staff and Management. Other financial income comprises interest income, including payables and transactions in foreign currencies. Other financial expenses comprise interest expenses, including interest expenses on payables to group enterprises, payables and transactions in foreign currencies. Tax for the year, which consists of current tax for the year and changes in deferred tax, is recognised in the income statement by the portion attributable to the profit for the year and recognised directly in equity by the portion attributable to entries directly in equity. The Entity is jointly taxed with all Danish subsidiaries in the Cement Plant Consulting Group. The current Danish income tax is allocated among the jointly taxed entities proportionally to their taxable income (full allocation with a refund concerning tax losses). 200084000178000300004600020002000019300010009000-500028800035200027353576Pak Dan Consult A/SCopenhagen2017-05-30Peter ThomsenIn our opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.12.2016 and of the results of its operations for the financial year 01.01.2016 - 31.12.2016.2017-05-30ValbyThe Company is part of a Danish joint taxation where its Parent, Cement Plant Consultants A/S, is the admi-nistration company. Consequently, referring to regulations of the Danish Corporation Tax Act, the Company is, with effect from 1 July 2012, liable for any obligations to withhold tax at source on interest, royalties and returns and from 1 January 2013 for corporation taxes for the jointly taxed companies. The share capital consists of 500 shares at DKK 1,000. The shares are not divided into classes. There have been no changes to the share capital since the establishment in 2003. 33963556Deloitte Statsautoriseret RevisionspartnerselskabWeidekampsgade Postboks 16000900 København C866000926000710000677000500000500000210000177000156000249000820007000033000-170009000-500033000-1700033000-1700033000-17000500000500000210000177000Cement Plant Consultants A/S. Incorporated: Copenhagen, Denmark.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 Entity’s ability to continue as a going concern, for disclosing, as applicable, matters related to going concern, and for using the going concern basis of accounting in preparing the financial statements unless Management either intends to liquidate the Entity or to cease operations, or has no realistic alternative but to do so.Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark will always detect a material misstatement when it exits. 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 the additional requirements applicable in Denmark, we exercise professional judgement and maintain professional scepticism 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 Entity’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 Entity’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 Entity to cease to continue as a going concern. • Evaluate the overall presentation, structure and content of the financial statements, including the disclosures in the notes, 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.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 this auditor’s report. We are independent of the Entity in accordance with the International Ethics Standards Board of 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.We have audited the financial statements of Pak Dan Consult A/S for the financial year 01.01.2016 - 31.12.2016, which comprise the income statement, balance sheet, statement of changes in equity and notes, including a summary of significant 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 Entity’s financial position at 31.12.2016 and of the results of its operations for the financial year 01.01.2016 - 31.12.2016 in accordance with the Danish Financial Statements Act.Management is responsible for the management commentary. Our opinion on the financial statements does not cover the management commentary, 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 commentary and, in doing so, consider whether the management commentary is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. Moreover, it is our responsibility to consider whether the management commentary provides the information required under the Danish Financial Statements Act.Based on the work we have performed, we conclude that the management commentary 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 commentary.ÅrsrapportRegnskabsklasse BTo the shareholder of Pak Dan Consult A/SThe Company has no employees.Copenhagen2017-05-30Ramsingsvej72500Valby33963556Deloitte Statsautoriseret RevisionspartnerselskabWeidekampsgadePostboks 160060900København COn initial recognition, foreign currency transactions are translated applying the exchange rate at the transaction date. Receivables, payables and other monetary items denominated in foreign currencies that have not been settled at the balance sheet date are translated using the exchange rate at the balance sheet date. Exchange differences that arise between the rate at the transaction date and the one in effect at the payment date, or the rate at the balance sheet date are recognised in the income statement as financial income or financial expenses. Revisionspåtegning33000-17000The accounting policies applied for these financial statements are consistent with those applied last year. State-Authorised Public AccountantState-Authorised Public AccountantLars Siggaard HansenChristian Dahlstrøm36 10 20 302016-01-012016-12-312015-12-312015-01-01