xbrli:pureiso4217:DKK343539052020-01-012020-12-31343539052020-01-012020-12-311343539052020-01-012020-12-311343539052020-01-012020-12-311343539052020-01-012020-12-312343539052020-01-012020-12-313343539052020-01-012020-12-31343539052019-01-012019-12-31343539052020-01-012020-12-31fsa:RetainedEarningsMember343539052019-01-012019-12-31fsa:RetainedEarningsMember343539052020-01-012020-12-31fsa:RetainedEarningsMember343539052020-12-31343539052019-12-31343539052020-01-01fsa:ContributedCapitalMember343539052020-01-01fsa:RetainedEarningsMember343539052020-01-01343539052020-12-31fsa:ContributedCapitalMember343539052020-12-31fsa:RetainedEarningsMember343539052020-01-012020-12-31fsa:OtherShorttermPayablesMember2021-07-132021-07-13true339635562019-01-012019-12-31Esbjerg67018DokkenDeloitte Statsautoriseret RevisionspartnerselskabKoldingKolding6000Regnskabsklasse BErklæring om udvidet gennemgang2020-12-312020-01-01<br /><br />140HaderslevvejDMK Kolding A/S34353905339635562300 København SWeidekampsgade 6Deloitte Statsautoriseret RevisionspartnerselskabÅrsrapportThe Board of Directors and the Executive Board have today considered and approved the annual report of DMK Kolding A/S for the financial year 01.01.2020 - 31.12.2020.The annual report is presented in accordance with the Danish Financial Statements Act.In our opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.12.2020 and of the results of its operations for the financial year 01.01.2020 - 31.12.2020.We believe that the management commentary contains a fair review of the affairs and conditions referred to therein.We recommend the annual report for adoption at the Annual General Meeting.KoldingAyad Musa Kazem Al-MosawiAyad Musa Kazem Al-MosawiHaider Faris HusseinImad Mousa Kadhim Al-MousaTo the shareholders of DMK Kolding A/SWe have performed an extended review of the financial statements of DMK Kolding A/S for the ​financial year 01.01.2020 - 31.12.2020, 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. ​Based on our extended review, in our opinion, the financial statements give a true and fair view of the Entity’s ​financial position at. 31.12.2020 and of the results of its operations for the financial year 01.01.2020 - 31.12.2020 in accordance with the Danish Financial Statements Act.We conducted our extended review in accordance with the assurance engagement standard for small enterprises as issued by the Danish Business Authority and the standard on extended review of financial statements prepared in accordance with the Danish Financial Statements Act as issued by FSR - Danish Auditors. Our responsibilities under those standards and requirements are further described in the ”Auditor’s responsibilities for the extended review of the financial statements” section. We are independent of the Entity 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 evidence we have obtained is sufficient and appropriate to provide a basis for our conclusion.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, disclosing, as applicable, matters related to going concern, and using the going concern basis of accounting unless Management either intends to liquidate the Entity or to cease operations, or has no realistic alternative but to do so.Our responsibility is to express a conclusion on the financial statements. This requires that we plan and perform procedures to obtain limited assurance about our conclusion on the financial statements and that we also perform specifically required supplementary procedures for the purpose of obtaining additional assurance about our conclusion. An extended review consists of making inquiries, primarily of management and, if appropriate, of other entity personnel, performing analytical and the specifically required supplementary procedures as well as evaluating the evidence obtained. The procedures performed in an extended review are less in scope than in an audit, and accordingly we do not express an audit opinion on the financial statements.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 extended review 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 extended review 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.<br />Based on the work we have performed, we conclude that the management commentary is in accordance with 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.EsbjergAnders Rasmussenmne34316State Authorised Public AccountantPrimary activitiesThe Company’s purpose is to sell medicine and medical equipment and other relates services.Development in activities and financesThe Company’s profit is DKK 50k, which is satisfying.59021378225893512111486332279722797-367705-3891720-61104409742379079768843365293-45992515000-10000050293-35992550293-359925502933605866362866336058663628663220920220920220920220920382678638495838490121562312112674816979682140002290003353822884967218025323603777776254660176603278702039543796613806780396250000050000040798184029525457981845295255000004029525452952550000040798180970816467912927151909790702166543197892115572270872033988327443720339883274437661380678039621 Staff costs2020 DKK2019 DKKWages and salaries912,8321,127,168Other social security costs16,82217,740Other staff costs5,4673,725935,1211,148,633Average number of full-time employees33332 Depreciation, amortisation and impairment losses2020 DKK2019 DKKDepreciation of property, plant and equipment22,79722,79722,79722,7973 Other financial income 2020 DKK2019 DKKFinancial income from group enterprises50,89017,688Exchange rate adjustments258,9046,102Other financial income131,1800440,97423,7904 Other financial expenses2020 DKK2019 DKKFinancial expenses from group enterprises554917Other interest expenses3,9259,850Exchange rate adjustments3,46864,446Interest regarding tax paid on account290Other financial expenses013,2207,97688,433<br />2020 DKK2019 DKKFinancial expenses from group enterprises554917Other interest expenses3,9259,850Exchange rate adjustments3,46864,446Interest regarding tax paid on account290Other financial expenses013,2207,97688,4335 Tax on profit/loss for the year2020 DKK2019 DKKChange in deferred tax15,000(100,000)15,000(100,000)6 Property, plant and equipmentLand and buildings DKKCost beginning of year3,721,326Cost end of year3,721,326Depreciation and impairment losses beginning of year(92,663)Depreciation for the year(22,797)Depreciation and impairment losses end of year(115,460)Carrying amount end of year3,605,8667 Financial assetsInvestments in group enterprises DKKCost beginning of year227,030Cost end of year227,030Impairment losses beginning of year(6,110)Impairment losses end of year(6,110)Carrying amount end of year220,9208 Deferred tax2020 DKK2019 DKKProperty, plant and equipment(33,000)(28,000)Tax losses carried forward247,000257,000Deferred tax214,000229,0009 Other payables2020 DKK2019 DKKWages and salaries, personal income taxes, social security costs, etc payable143,00133,022Holiday pay obligation18,527113,000Other costs payable50,02981,065211,557227,08710 Assets charged and collateralBank loans are secured by way of a deposited mortgage deed registered to the mortgagor on properties of DKK 3,000k nominal. The carrying amount of mortgaged properties is DKK 3,606k This 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.The accounting policies applied to these financial statements are consistent with those applied last year.falseConsolidated financial statementsReferring to section 110 of the Danish Financial Statements Act, no consolidated financial statements have been prepared.Recognition and measurementAssets 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.Foreign currency translationOn initial recognition, foreign currency transactions are translated applying the exchange rate at the trans-action 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 rate 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.Gross profit or lossGross profit or loss comprises revenue, changes in inventories of finished goods, other operating income, and consumables and external expenses.RevenueRevenue 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. Revenue from the sale of services is recognised in the income statement when delivery is made to the buyer. Revenue is recognised net of VAT, duties and sales discounts and is measured at fair value of the consideration fixed.Other operating incomeOther operating income comprises income of a secondary nature as viewed in relation to the Entity’s primary activities.Cost of salesCost of sales comprises goods consumed in the financial year measured at cost.Other external expensesOther external expenses include expenses relating to the Entity’s ordinary activities, including expenses for premises, stationery and office supplies, marketing costs, etc. This item also includes writedowns of receiv-ables recognised in current assets.Staff costsStaff costs comprise salaries and wages, and social security contributions, pension contributions, etc for entity staff.Depreciation, amortisation and impairment lossesDepreciation, amortisation and impairment losses relating to property, plant and equipment and intangible assets comprise depreciation, amortisation and impairment losses for the financial year, and gains and losses from the sale of intangible assets and property, plant and equipment.Income from investments in group enterprisesIncome from investments in group enterprises comprises the pro rata share of the individual enterprises’ profit/loss after full elimination of intra-group profits or losses.Other financial incomeOther financial income comprises dividends etc received on other investments, interest income, including interest income on receivables from group enterprises, net capital gains on securities, payables and transac-tions in foreign currencies, amortisation of financial assets as well as tax relief under the Danish Tax Prepay-ment Scheme etc.Other financial expensesOther financial expenses comprise interest expenses and payables and transactions in foreign currencies.Tax on profit/loss for the yearTax 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 group enterprises. 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).Property, plant and equipmentLand and building are measured at cost less accumulated depreciation and impairment losses. Land is not depreciated. Cost comprises the acquisition price, costs directly attributable to the acquisition and preparation costs of the asset until the time when it is ready to be put into operation. Interest expenses on loans for the financing of the manufacture of property, plant and equipment are included in cost if they relate to the manufacturing period. All other finance costs are recognised in the income state-ment. The basis of depreciation is cost less estimated residual value after the end of useful life. Straight-line de-preciation is made on the basis of the following estimated useful lives of the assets:Buildings50 yearsEstimated useful lives and residual values are reassessed annually. Items of property, plant and equipment are written down to the lower of recoverable amount and carrying amount.Investments in group enterprisesInvestments in group enterprises are measured at cost and are written down to the lower of recoverable amount and carrying amount.ReceivablesReceivables are measured at amortised cost, usually equalling nominal value less writedowns for bad and doubtful debts.Deferred taxDeferred tax is recognised on all temporary differences between the carrying amount and the tax-based value of assets and liabilities, for which the tax-based value 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.PrepaymentsPrepayments comprise incurred costs relating to subsequent financial years. Prepayments are measured at cost.CashCash comprises bank deposits.Other financial liabilitiesOther financial liabilities are measured at amortised cost, which usually corresponds to nominal value.2021-07-13Imad Mousa Kadhim Al-Mousa