36422246 2017-04-01 2018-03-31 36422246 2017-04-01 2018-03-31 1 36422246 2017-04-01 2018-03-31 0 36422246 2017-04-01 2018-03-31 1 36422246 2017-04-01 2018-03-31 2 36422246 2017-04-01 2018-03-31 2 36422246 2016-04-01 2017-03-31 36422246 2017-04-01 2018-03-31 fsa:RetainedEarningsMember 36422246 2016-04-01 2017-03-31 fsa:RetainedEarningsMember 36422246 2018-03-31 36422246 2017-03-31 36422246 2017-04-01 fsa:ContributedCapitalMember 36422246 2017-04-01 fsa:RetainedEarningsMember 36422246 2017-04-01 36422246 2017-04-01 2018-03-31 fsa:ContributedCapitalMember 36422246 2017-04-01 2018-03-31 fsa:RetainedEarningsMember 36422246 2018-03-31 fsa:ContributedCapitalMember 36422246 2018-03-31 fsa:RetainedEarningsMember iso4217:DKK Annual report 2018-08-20 Lasse Andreassen CEMBRANE HOLDING ApS Lille Vokstrupvej 7 3230 Græsted 36422246 2017-04-01 2018-03-31 Dupont Revision Hovedgaden 8, 1 A 3460 Birkerød DK Danmark 26563976 1009056722 <p style="margin: 0cm 0cm 0pt;" xmlns="http://www.w3.org/1999/xhtml">Today the Management have discussed and approved the annual report for accounting year 1 april 2017 to 31 March 2018 for Cembrane Holding ApS.</p> <p xmlns="http://www.w3.org/1999/xhtml"> <span> </span> </p> <p style="margin: 0cm 0cm 0pt;" xmlns="http://www.w3.org/1999/xhtml">The annual report has been published in accordance with the Danish Financial Statements Act.</p> <p style="margin: 0cm 0cm 0pt;" xmlns="http://www.w3.org/1999/xhtml"> </p> <p style="margin: 0cm 0cm 0pt;" xmlns="http://www.w3.org/1999/xhtml">It is our opinion that the financial statement gives a true and fair view of the company's assets, liabilities and financial position as at 31 March 2018 and of the results of the company's activities for the accounting year 1 April 2017 to 31 March 2018.</p> <p style="margin: 0cm 0cm 0pt;" xmlns="http://www.w3.org/1999/xhtml"> </p> <p style="margin: 0cm 0cm 0pt;" xmlns="http://www.w3.org/1999/xhtml">It is also our opinion that the management report includes a fair statement on the conditions the report deals with.</p> <p style="margin: 0cm 0cm 0pt;" xmlns="http://www.w3.org/1999/xhtml"> </p> <p style="margin: 0cm 0cm 0pt;" xmlns="http://www.w3.org/1999/xhtml">The annual report will be submitted for approval by the annual general meeting.</p> Græsted 2018-06-22 Lasse Andreassen Merete Andreassen Alexander Lindeskov Andreassen The independent auditor's report on financial statements To the shareholders of CEMBRANE HOLDING ApS Opinion We have audited the Financial Statements of Cembrane Holding ApS for the financial year 1 April 2017 - 31 March 2018, which comprise income statement, balance sheet and notes, including a summary of significant accounting policies, for the Company. 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 Company’s financial position at 31 March 2018 and of the results of the Company’s operations for the financial year 1 April 2017 - 31 March 2018 in accordance with the Danish Financial Statements Act. Basis for Opinion We conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the “Auditor’s Responsibilities for the Audit of the Financial Statements” section of our report. We are independent of the Company 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 rules and requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Management is responsible for the preparation of Financial Statements that give a true and fair view in accordance with the Danish Financial Statements Act, and for such internal control as Management determines is necessary to enable the preparation of Financial Statements that are free from material misstatement, whether due to fraud or error. In preparing the Financial Statements, Management is responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting in preparing the Financial Statements unless Management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. Our objectives are to obtain reasonable assurance 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 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 of accounting information 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 judgment and maintain professional skepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management. Conclude on the appropriateness of Management’s use of the going concern basis of accounting in preparing the Financial Statements and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the Financial Statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to continue as a going concern. Evaluate the overall presentation, structure and contents of the Financial State-ments, including the disclosures, and whether the Financial Statements represent the underlying transactions and events in a manner that gives a true and fair view. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Management is responsible for Management’s Review. Our opinion on the Financial Statements does not cover Management’s Review, and we do not express any form of assurance conclusion thereon. In connection with our audit of the Financial Statements, our responsibility is to read 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. Moreover, it is our responsibility to consider whether Management’s Review provides the information required under the Danish Financial Statements Act. Based on the work we have performed, we conclude that Management’s Review is in accordance with the Financial Statements and has been prepared in accordance with the requirements of the Danish Financial Statement Act. We did not identify any material misstatement of Management’s Review. Birkerød 2018-06-22 Pernille Dupont mne2627 Registreret revisor, medlem af FSR – danske revisorer Dupont Revision 26563976 <h3 xmlns="http://www.w3.org/1999/xhtml">Main activities</h3> <p xmlns="http://www.w3.org/1999/xhtml">The company’s activities comprise the ownership of shares in subsidiaries.</p> <h3 xmlns="http://www.w3.org/1999/xhtml">Development of activities and financial situation</h3> <p xmlns="http://www.w3.org/1999/xhtml">The net result for the year is considered satisfactory. The management also expects a satisfactory result for the coming financial year.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml"> <strong>Own shares</strong> </p> <p xmlns="http://www.w3.org/1999/xhtml">On the balance sheet date, the company’s holding of its own shares amounted to nom. DKK 8,036, corresponding to 10% of the total share capital.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml">The following transactions have taken place in the financial year:</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml">                                                Nom.              Transfer amount                    Proportion of total </p> <p xmlns="http://www.w3.org/1999/xhtml">                                                                                                                              share capital</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml">Capital increase                      20.358                           20.358                                   25,33 %</p> <p xmlns="http://www.w3.org/1999/xhtml">Purchases                                  3.750                      1.000.000                                     4,67 %</p> <p xmlns="http://www.w3.org/1999/xhtml">Sales                                        16.072                      8.915.353                                   20,00 %</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml">The plan was for new shareholders to acquire 30% of the share capital, but this was amended to 20%, for which reason the company has reserves of 10% of the total share capital.</p> <h3 xmlns="http://www.w3.org/1999/xhtml">Events following the finalisation of the account</h3> <p xmlns="http://www.w3.org/1999/xhtml">Following the finalisation of the account, no events have occurred which have the potential to significantly influence the company’s financial standing.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> The annual report has been prepared in accordance with the regulation applying to Reporting class B. Reporting class B <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml">The annual account has been prepared according to the same accounting practices as the previous year’s account.</p> <h3 xmlns="http://www.w3.org/1999/xhtml"> <strong>Profit and loss account</strong> </h3> <p xmlns="http://www.w3.org/1999/xhtml"> <strong>Financial items</strong> </p> <p xmlns="http://www.w3.org/1999/xhtml">Dividends on shares are booked as income in the financial year in which the profit is declared.</p> <p style="margin: 0cm 0cm 0pt;" xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml"> <strong>Tax on the net result for the year</strong> </p> <p xmlns="http://www.w3.org/1999/xhtml">The part of the tax for the year that can be attributed to the year’s net result, consisting of the year’s current tax and displacement of deferred taxes, is included in the profit and loss account, while the part that can be attributed to items posted directly to own capital is directly included in own capital.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml"> <strong>Balance</strong> </p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml"> <strong>Financial fixed assets</strong> </p> <p xmlns="http://www.w3.org/1999/xhtml">Shares in subsidiaries are calculated at cost price. In the event that the cost price exceeds the recoverable amount, this will be written down to the lower value.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml"> <strong>Dividend</strong> </p> <p xmlns="http://www.w3.org/1999/xhtml">The proposed dividend is included as a liability at the date of adoption at the Annual General Meeting (date of declaration). The dividend that is expected to be paid for the year is entered as a separate item under own capital.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml"> <strong>Corporation tax and deferred tax</strong> </p> <p xmlns="http://www.w3.org/1999/xhtml">Current tax liabilities and outstanding current tax are included in the balance sheet as tax calculated on the year’s taxable income, adjusted for tax on preceding years’ taxable income and for tax paid on account. <br/> <br/>Deferred tax is calculated according to the balance sheet liability method based on the difference between the accounting value and the tax value of assets and liabilities. In the event that the calculation of the tax value can be carried out according to other tax regulations, deferred tax will be calculated on the basis of the planned use of the asset or the settlement of the liability.</p> <p xmlns="http://www.w3.org/1999/xhtml">Deferred tax assets, including the tax value of deferrable tax losses, is calculated at the value at which the asset is expected to be realisable, either by equalisation of tax rates for future earnings or by setting off deferred tax liabilities within the same legal tax entity. Any deferred net tax assets are calculated at their net realisable value.</p> <p xmlns="http://www.w3.org/1999/xhtml">Deferred tax is calculated on the basis of the tax regulations and tax rates which, pursuant to the balance sheet date provisions, will apply when the deferred tax is expected to become current tax. Changes to deferred tax as a result of changes to tax rates will be included in the profit and loss account.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml"> <strong>Debt</strong> </p> <p xmlns="http://www.w3.org/1999/xhtml">Debt is measured at amortised cost price, which usually equals the nominal value.</p> -5210 -2780 -5210 -2780 104973 245669 -110183 -248449 -110183 -248449 -110183 -248449 -110183 -248449 8300001 8300001 8300001 8300001 8300001 8300001 5776645 0 5776645 0 1343910 967 7120555 967 15420556 8300968 80358 60000 7632147 -152665 7712505 -92665 5000 2750 7703051 8390883 7708051 8393633 7708051 8393633 15420556 8300968 60000 -152665 -92665 20358 -20358 0 0 1000000 1000000 0 8915353 8915353 0 -110183 -110183 80358 7632147 7712505 false false false false true 2016-04-01 2017-03-31 Auditor's report on audited financial statements false false false false Pernille Dupont Hovedgaden 8, 1A 3460 Birkerød