38394126 2017-01-23 2017-12-31 38394126 2017-01-23 2017-12-31 0 38394126 2017-01-23 2017-12-31 0 38394126 2017-01-23 2017-12-31 fsa:ProposedDividendRecognisedInEquityMember 38394126 2017-01-23 2017-12-31 fsa:RetainedEarningsMember 38394126 2017-12-31 iso4217:DKK 2017-01-23 2017-12-31 Paula Marie Binney <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><tr><td colspan="1">Direktionen har dags dato aflagt årsregnskabet for året 23. janaur 2017 - 31. december 2017</td></tr><tr><td colspan="1">for Co-Brand Solutions ApS.</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 /><td>The management has today adopted the Annual Report for the year</td></tr><tr><td /><td>23. janaur - 31. december 2017 of Co-Brand Solutions ApS.</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">Årsregnskabet er aflagt i overensstemmelse med årsregnskabsloven.</td></tr><tr><td colspan="1">Vi anser den valgte regnskabspraksis for hensigtsmæssig, således at årsregnskabet</td></tr><tr><td colspan="1">giver et retvisende billede af selskabets aktiver, passiver, finansielle stilling samt</td></tr><tr><td colspan="1">af resultatet.</td></tr><tr><td colspan="1">Ingen af virksomhedens aktiver er pantsat eller behæftet med ejendomsforbehold</td></tr><tr><td colspan="1">udover det i årsregnskabet anførte, og der påhviler ikke selskabet eventualforpligtelser,</td></tr><tr><td colspan="1">som ikke fremgår af årsregnskabet.</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 /><td>The Annual Report has been prepared in accordance with the Danish Financial</td></tr><tr><td /><td>Statements Act.</td></tr><tr><td /><td colspan="6">We consider that the accounting policies used are appropriate and that the annual</td></tr><tr><td /><td colspan="6">report gives a true and fair view of the company's assets and liabilities, its financial</td></tr><tr><td /><td colspan="6">position and the result of its activities.</td></tr><tr><td /><td>None of the company’s assets are charged or otherwise provided as security or are</td></tr><tr><td /><td>subject to retention of title apart from what is disclosed in the Annual Report, and the</td></tr><tr><td /><td>company has no contingent liabilities that have not been included in the Annual Report.</td></tr></table> København K 2018-05-11 <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 erklæring om opstilling af årsregnskab</td></tr><tr><td colspan="1">Til den daglige ledelse i Co-Brand Solutions ApS</td></tr><tr><td colspan="1">Vi har opstillet årsregnskabet for Co-Brand Solutions ApS for regnskabsåret 23. januar -</td></tr><tr><td colspan="1">31. december 2017 på grundlag af selskabets bogføring og øvrige oplysninger, som De har</td></tr><tr><td colspan="1">tilvejebragt.</td></tr><tr><td colspan="1">Årsregnskabet omfatter anvendt regnskabspraksis, resultatopgørelse, balance og</td></tr><tr><td colspan="1">noter.</td></tr><tr><td colspan="1">Vi har udført opgaven i overensstemmelse med ISRS 4410, Opgaver om opstilling</td></tr><tr><td colspan="1">af finansielle oplysninger.</td></tr><tr><td colspan="1">Vi har anvendt vores faglige ekspertise til at assistere Dem med at udarbejde og</td></tr><tr><td colspan="1">præsentere årsregnskabet i overensstemmelse med årsregnskabsloven. Vi har</td></tr><tr><td colspan="1">overholdt relevante bestemmelser i revisorloven og FSR - danske revisorers Etiske</td></tr><tr><td colspan="1">regler for revisorer, herunder principper vedrørende integritet, objektivitet, faglig</td></tr><tr><td colspan="1">kompetence og fornøden omhu.</td></tr><tr><td colspan="1">Årsregnskabet samt nøjagtigheden og fuldstændigheden af de oplysninger, der er</td></tr><tr><td colspan="1">anvendt til opstillingen af årsregnskabet, er Deres ansvar.</td></tr><tr><td colspan="1">Da en opgave om opstilling af finansielle oplysninger ikke er en erklæringsopgave</td></tr><tr><td colspan="1">med sikkerhed, er vi ikke forpligtet til at verificere nøjagtigheden eller fuld-</td></tr><tr><td colspan="1">stændigheden af de oplysninger, De har givet os til brug for at opstille årsregnskabet.</td></tr><tr><td colspan="1">Vi udtrykker derfor ingen revisions- eller reviewkonklusion om, hvorvidt årsregnskabet</td></tr><tr><td colspan="1">er udarbejdet 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">Practitioner’s Compilation Report</td></tr><tr><td colspan="1">To the Management of Co-Brand Solutions ApS</td></tr><tr><td colspan="1">We have compiled the accompanying financial statements of Co-Brand Solutions ApS for the</td></tr><tr><td colspan="1">financial year 23 January to 31 December 2017[for the financial year ended 31 December</td></tr><tr><td colspan="1">2017] based on information you have provided.</td></tr><tr><td colspan="1">These financial statements comprise a summary of significant accounting policies,</td></tr><tr><td colspan="1">income statement, balance sheet and notes.</td></tr><tr><td colspan="1">We performed this compilation engagement in accordance with International Standard</td></tr><tr><td colspan="1">on Related Services 4410 (Revised), Compilation Engagements.</td></tr><tr><td colspan="1">We have applied our expertise in accounting and financial reporting to assist you in</td></tr><tr><td colspan="1">the preparation and presentation of these financial statements in accordance with the</td></tr><tr><td colspan="1">Danish Financial Statements Act. We have complied with relevant requirements under</td></tr><tr><td colspan="1">the Danish Act on Approved Auditors and Audit Firms and FSR – danske revisorer’s</td></tr><tr><td colspan="1">Code of Ethics, including principles of integrity, objectivity, professional competence</td></tr><tr><td colspan="1">and due care.</td></tr><tr><td colspan="1">These financial statements and the accuracy and completeness of the information used</td></tr><tr><td colspan="1">to compile them are your responsibility.</td></tr><tr><td colspan="1">Since a compilation engagement is not an assurance engagement, we are not required</td></tr><tr><td colspan="1">to verify the accuracy or completeness of the information you provided to us to</td></tr><tr><td colspan="1">compile these financial statements. Accordingly, we do not express an audit opinion or</td></tr><tr><td colspan="1">a review conclusion on whether these financial statements are prepared in accordance</td></tr><tr><td colspan="1">with the Danish Financial Statements Act.</td></tr></table> Kgs. Lyngby 2018-05-11 Co-Brand Solutions ApS Strandgade 4 A 1401 København K 38394126 3,80938E+11 n.ponomareva@brand4y.eu 2018-05-11 <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="2">Præsentation af virksomheden</td></tr><tr><td /><td>Main Activities</td></tr><tr><td colspan="2">Selskabets formål er at yde salg og konsulent rådgivning og deraf beslægtet virksomhed</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 /><td>The activities of the Company are to provide sale and consultancy and associated</td></tr><tr><td /><td>business.</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">Udvikling i økonomiske aktiviteter og forhold</td></tr><tr><td colspan="1">Selskabets resultatopgørelse for 2017 udviser et resultat på kr. -14.505, og selskabets balance pr. 31. december 2017 udviser en egenkapital på kr. 35.495.</td></tr><tr><td colspan="1">Ledelsen anser årets resultat for tilfredsstillende.</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 /><td>Development in financial activities and position</td></tr><tr><td /><td>The income statement of the company for 2017 results in DKK -14,505,</td></tr><tr><td /><td>and the company's balance sheet at 31. december 2017 results in the equity of</td></tr><tr><td /><td>DKK 35,495.</td></tr><tr><td /><td>The management regards the result for the financial year as satisfactory.</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">Forventet udvikling</td></tr><tr><td colspan="1">Selskabets forventer en positiv udvikling i de kommende år bl.a. på grund af</td></tr><tr><td colspan="1">udviklingen inden for selskabets eksisterende markedssegmenter og introduktion af</td></tr><tr><td colspan="1">færdigudviklede produktlinjer og dækningskoncepter.</td></tr><tr><td colspan="1">Der er efter regnskabsårets afslutning ikke indtruffet begivenheder, som væsentligt</td></tr><tr><td colspan="1">vil kunne påvirke selskabets finansielle stilling.</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 /><td>Expected development</td></tr><tr><td /><td>The company expects a very positive development in the coming years i.a.</td></tr><tr><td /><td>because of the development in the companys existing market segments</td></tr><tr><td /><td>and introduction of fully developed product lines and coverage concepts.</td></tr><tr><td /><td>After closing of the financial year no events have ocurred that will affect the</td></tr><tr><td /><td>Company's financial position materially.</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">GENERELT OM INDREGNING OG MÅLING</td></tr><tr><td colspan="1">I resultatopgørelsen indregnes indtægter i takt med, at de indtjenes, herunder indregnes</td></tr><tr><td colspan="1">værdireguleringer af finansielle aktiver og forpligtelser. I resultatopgørelsen indregnes</td></tr><tr><td colspan="1">ligeledes alle omkostninger, herunder af- og nedskrivninger.</td></tr><tr><td colspan="1">Aktiver indregnes i balancen, når det er sandsynligt, at fremtidige økonomiske fordele</td></tr><tr><td colspan="1">vil tilflyde selskabet, og aktivets værdi kan måles pålideligt.</td></tr><tr><td colspan="1">Forpligtelser indregnes i balancen, når det er sandsynligt, at fremtidige økonomiske</td></tr><tr><td colspan="1">fordele vil fragå selskabet og forpligtelsens værdi kan måles pålideligt.</td></tr><tr><td colspan="1">Ved første indregning måles aktiver og forpligtelser til kostpris. Efterfølgende måles</td></tr><tr><td colspan="1">aktiver og forpligtelser som beskrevet for hvert enkelt regnskabspost nedenfor.</td></tr><tr><td colspan="1">Visse finansielle aktiver og forpligtelser måles til amortiseret kostpris, hvorved der</td></tr><tr><td colspan="1">indregnes en konstant effektiv rente over løbetiden. Amortiseret kostpris opgøres som</td></tr><tr><td colspan="1">oprindelig kostpris med fradrag af eventuelle afdrag samt tillæg/fradrag af den</td></tr><tr><td colspan="1">akkumulerede amortisering af forskellen mellem kostpris og nominelt beløb.</td></tr><tr><td colspan="1">Ved indregning og måling tages hensyn til forudsigelige tab og risici, der fremkommer</td></tr><tr><td colspan="1">inden årsregnskabet aflægges, og som be- eller afkræfter forhold, der eksisterer på</td></tr><tr><td colspan="1">balancedagen.</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 /><td>RECOGNITION AND MEASUREMENT</td></tr><tr><td /><td>Income is recognised in the Income Statement as earned, including value</td></tr><tr><td /><td>adjustments of financial assets and liabilities. All expenses including depreciation</td></tr><tr><td /><td>amortisation and impairment losses are recognised in the Income Statement.</td></tr><tr><td /><td>Assets are recognised in the balance sheet when it is probable that future</td></tr><tr><td /><td>economic benefits will flow to the company and the when value of the asset</td></tr><tr><td /><td>can be measured reliably.</td></tr><tr><td /><td>Liabilities are recognised in the balance sheet when it is probable that future</td></tr><tr><td /><td>economic benefits will flow out of the company and when the value of the</td></tr><tr><td /><td>liability can be measured reliably.</td></tr><tr><td /><td>On initial recognition, assets and liabilities are recognised at cost. Subsequently,</td></tr><tr><td /><td>assets and liabilities are measured as described below for each item.</td></tr><tr><td /><td>Certain financial assets and liabilities are measured at amortised cost where</td></tr><tr><td /><td>a constant effective interest is recognised over the maturity. Amortised cost</td></tr><tr><td /><td>is stated as original cost less principal repayments and with the addition</td></tr><tr><td /><td>deduction of the cumulative amortisation of the difference between cost and</td></tr><tr><td /><td>nominal amount.</td></tr><tr><td /><td>Allowances are made for predictable losses and risks that arise before the</td></tr><tr><td /><td>presentation of the Financial Statements and that confirm or invalidate</td></tr><tr><td /><td>circumstances that existed at the balance sheet date.</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">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 /><td>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">Nettoomsætning</td></tr><tr><td colspan="1">Nettoomsætningen ved salg af handelsvarer og færdigvarer og tjenesteydelser indregnes</td></tr><tr><td colspan="1">i resultatopgørelsen, såfremt levering og risikoovergang til køber har fundet sted inden</td></tr><tr><td colspan="1">årets udgang (faktureringsprincippet). Nettoomsætning indregnes ekskl. moms og med</td></tr><tr><td colspan="1">fradrag af rabatter i forbindelse med salget. Under henvisning til selskabets konkurrencemæssige stilling, har selskabet ikke ønsket</td></tr><tr><td colspan="1">at oplyse nettoomsætningen, jf. årsregnskabslovens §32.</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 /><td>Revenue</td></tr><tr><td /><td>Revenue related to sales of goods for resale, finished goods and services provided is</td></tr><tr><td /><td>recognised in the income statement if delivery and transfer of risk have taken place</td></tr><tr><td /><td>before the end of the year (the completed contract method). Revenue is recognised</td></tr><tr><td /><td>less VAT and discounts granted in connection with the sale.</td></tr><tr><td /><td>Referring to the company's competitive position, the company has not wanted</td></tr><tr><td /><td>to state revenue, cf. The Danish Financial Statements Act, section 32.</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">Andre driftsindtægter og -omkostninger</td></tr><tr><td colspan="1">Andre driftsindtægter og omkostninger indeholder regnskabsposter af sekundær karakter</td></tr><tr><td colspan="1">i forbindelse til virksomhedens hovedaktivitet.</td></tr><tr><td colspan="1">Andre eksterne omkostninger</td></tr><tr><td colspan="1">Andre eksterne omkostninger omfatter omkostninger til distribution, salg, reklame,</td></tr><tr><td colspan="1">administration, lokaler, tab på debitorer m.v.</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 /><td>Other operating income and operating expenses</td></tr><tr><td /><td>Other operating income and operating expenses include items of secondary nature</td></tr><tr><td /><td>compared to the company's principal activities.</td></tr><tr><td /><td>Other external expenses</td></tr><tr><td /><td>Other external expenses include distribution and advertising costs, administrative</td></tr><tr><td /><td>expenses, expenses related to company premises, bad debts etc.</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 indregnes i resultatopgørelsen med de beløb, der</td></tr><tr><td colspan="1">vedrører regnskabsåret. Finansielle poster omfatter renteindtægter og omkostninger,</td></tr><tr><td colspan="1">finansielle omkostninger ved finansiel leasing, realiserede og urealiserede kursgevinster</td></tr><tr><td colspan="1">og tab vedrørende værdipapirer, gæld og transaktioner i fremmed valuta, amortisering</td></tr><tr><td colspan="1">af realkreditlån samt tillæg og godtgørelse under acontoskatteordningen m.v.</td></tr><tr><td colspan="1">Udbytte fra kapitalandele indtægtsføres i det regnskabsår, hvor udbyttet deklareres.</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 /><td>Net financials</td></tr><tr><td /><td>Financial income and financial expenses are recognised in the income statement</td></tr><tr><td /><td>with the amounts related to the financial year. Financial income and financial</td></tr><tr><td /><td>expenses include interest receivable and payable, financial expenses related to</td></tr><tr><td /><td>finance leases, realised and unrealised gains and losses on securities, exchange</td></tr><tr><td /><td>gains and losses on debt and transactions denomimated in foreign currencies,</td></tr><tr><td /><td>repayment of mortgage loans and charges and extra charges related to the</td></tr><tr><td /><td>Danish Scheme for Payment of Tax on Account etc.</td></tr><tr><td /><td>Dividends from investments in group enterprises are recognised as income in</td></tr><tr><td /><td>the financial year in which the dividend is declared.</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">Årets skat, som består af årets aktuelle skat og forskydning i udskudt skat, indregnes i</td></tr><tr><td colspan="1">resultatopgørelsen med den del, der kan henføres til årets resultat, og direkte på</td></tr><tr><td colspan="1">egenkapitalen med den del, der kan henføres til posteringer direkte på egenkapitalen.</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">Selskabsskat og udskudt skat</td></tr><tr><td colspan="1">Aktuelle skatteforpligtelser og tilgodehavende af aktuel skat indregnes i balancen</td></tr><tr><td colspan="1">som beregnet skat af årets skattepligtige indkomst reguleret for skat af tidligere års</td></tr><tr><td colspan="1">skattepligtige indkomster samt for betalte acontoskatter.</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 /><td>Tax on results for the year</td></tr><tr><td /><td>Tax on results for the year which comprises current tax and changes in deferred</td></tr><tr><td /><td>tax is recognised in the income statement with the portion of taxes related to the</td></tr><tr><td /><td>taxable income for the year whereas the portion attributable to entries on equity</td></tr><tr><td /><td>is recognised directly in equity.</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 /><td>Tax payable and deferred tax</td></tr><tr><td /><td>Current tax liabilities and current tax receivable are recognised in the balance</td></tr><tr><td /><td>sheet as tax calculated on the taxable income for the year adjusted for tax on</td></tr><tr><td /><td>previous year's taxable income and taxes paid on account/prepaid.</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">BALANCEN</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 /><td>THE BALANCE SHEET</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="5">Materielle anlægsaktiver</td></tr><tr><td colspan="5">Grunde og bygninger, tekniske anlæg og maskiner samt andre anlæg, driftsmateriel og</td></tr><tr><td colspan="5">inventar måles til kostpris med fradrag af akkumulerede afskrivninger.</td></tr><tr><td colspan="5">Afskrivningsgrundlaget er kostpris med fradrag af forventet restværdi efter afsluttet brugstid.</td></tr><tr><td colspan="5">Kostprisen omfatter anskaffelsesprisen samt omkostninger direkte tilknyttet anskaffelsen</td></tr><tr><td colspan="5">indtil det tidspunkt, hvor aktivet er klar til at blive taget i brug.</td></tr><tr><td colspan="5">Der foretages lineære afskrivninger baseret på følgende vurdering af aktivernes forventede</td></tr><tr><td colspan="5">brugstider</td></tr><tr><td>Tekniske anlæg og maskiner</td><td /><td /><td /><td>5 år</td></tr><tr><td>Andre anlæg, driftsmateriel og inventar</td><td /><td /><td /><td>5 år</td></tr><tr><td colspan="5">Aktiver med en kostpris på under DKK 13.200 pr. enhed indregnes som omkostninger i</td></tr><tr><td colspan="5">resultatopgørelsen i anskaffelsesåret.</td></tr><tr><td colspan="5">Fortjeneste eller tab ved afhændelse af materielle anlægsaktiver opgøres som forskellen</td></tr><tr><td colspan="5">mellem salgspris med fradrag af salgsomkostninger og den regnskabsmæssige værdi på</td></tr><tr><td colspan="5">salgstidspunktet. Fortjeneste eller tab indregnes i resultatopgørelsen som en ekstraordinær</td></tr><tr><td colspan="5">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 /><td>Property, plant and equipement</td></tr><tr><td /><td>Land and buildings, plant and machinery, other fixtures and fittings, tools and</td></tr><tr><td /><td>equipment are measured at cost less accumulated depreciation.</td></tr><tr><td /><td>The depreciable amount is cost less expected value after the end of the asset's</td></tr><tr><td /><td>useful life.</td></tr><tr><td /><td>Cost comprises acquisition price and costs directly related to acquisition until the</td></tr><tr><td /><td>time when the Company starts using the assets.</td></tr><tr><td /><td>Assets are depreciated under the straight-line method over the expected useful</td></tr><tr><td /><td>lives of the assets. The depreciation periods are as follows</td></tr><tr><td /><td>Plant and machinery</td><td /><td /><td /><td /><td>5 years</td></tr><tr><td /><td>Other fixtures and fittings, tools and equipment</td><td /><td /><td /><td /><td>5 years</td></tr><tr><td /><td>Assets with a purchase price not exceeding DKK 13.200 per unit are recognised as</td></tr><tr><td /><td>costs in the income statement in the year of acquisition.</td></tr><tr><td /><td>Profits and losses arising from disposal of property, plant and equipment are</td></tr><tr><td /><td>stated as the difference between the selling price less the selling costs and the</td></tr><tr><td /><td>carrying amount of the asset at the time of the disposal. Profits and losses are</td></tr><tr><td /><td>recognised in the income statement as extraordinary items.</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">Udbytte</td></tr><tr><td colspan="1">Foreslået udbytte for regnskabsåret indregnes som en kortfristet gældsforpligtelse.</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 /><td>Dividends</td></tr><tr><td /><td>Proposed dividend for the financial year is recognised as a short-term liability.</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">Udskudt skat måles efter den balanceorienterede gældsmetode af midlertidige forskelle</td></tr><tr><td colspan="1">mellem regnskabsmæssig og skattemæssig værdi af aktiver og forpligtelser.</td></tr><tr><td colspan="1">Udskudte skatteaktiver, herunder skatteværdien af fremførselsberettiget skattemæssigt</td></tr><tr><td colspan="1">underskud, måles til den værdi, hvortil aktivet forventes at kunne realiseres, enten ved</td></tr><tr><td colspan="1">udligning i skat af fremtidig indtjening eller ved modregning i udskudte skatteforpligtelser</td></tr><tr><td colspan="1">inden for samme juridiske skatteenhed.</td></tr><tr><td colspan="1">Eventuelle udskudte nettoaktiver måles til nettorealisationsværdi.</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">Udskudt skat måles på grundlag af de skatteregler og skattesatser, der med balancedagens</td></tr><tr><td colspan="1">lovgivning vil være gældende, når den udskudte skat forventes udløst som aktuel skat.</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 /><td>Deferred tax is measured according to the balance sheet liability method in respect</td></tr><tr><td /><td>of temporary differences between the carrying amount and the tax base of assets</td></tr><tr><td /><td>and liabilities.</td></tr><tr><td /><td>Deferred tax assets including the tax value of tax loss carryforwards, are</td></tr><tr><td /><td>measured at the expected realisable value, either by elimination in tax on</td></tr><tr><td /><td>future earnings or by set-off against deferred tax liabilities within the same</td></tr><tr><td /><td>legal tax entity and jurisdiction.</td></tr><tr><td /><td>Any deferred net tax assets are measured at net realisable value.</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 /><td>Deferred tax is measured on the basis of the tax rules and tax rates in force at</td></tr><tr><td /><td>the balance sheet date when the deferred tax is expected to crystallise as current</td></tr><tr><td /><td>tax. Any changes in deferred tax as a consequence of amendments to tax rates are</td></tr><tr><td /><td>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">Gældsforpligtelser</td></tr><tr><td colspan="1">Gæld i øvrigt er målt til amortiseret kostpris, hvilket for korte og uforrentede eller variabelt</td></tr><tr><td colspan="1">forrentede gældsforpligtelser 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 /><td>Financial liabilities other than provisions</td></tr><tr><td /><td>Other liabilities are measured at amortised cost, which for short-term and non</td></tr><tr><td /><td>interest-bearing liabilities is equal 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">Omregning af fremmed valuta</td></tr><tr><td colspan="1">Transaktioner i fremmed valuta omregnes til transaktionsdagens valutakurs.</td></tr><tr><td colspan="1">Kursdifferencer der opstår mellem transaktionsdagens kurs og kursen på betalingsdagen,</td></tr><tr><td colspan="1">indregnes resultatopgørelsen som en finansiel post. Hvis valutapositioner anses for sikring</td></tr><tr><td colspan="1">af fremtidige pengestrømme, indregnes værdireguleringerne direkte på egenkapitalen.</td></tr><tr><td colspan="1">Tilgodehavender, gæld og andre monetære poster i fremmed valuta, som ikke er</td></tr><tr><td colspan="1">afregnet på balancedagen, måles til balancedagens valutakurs. Forskellen mellem kursen</td></tr><tr><td colspan="1">på balancedagen og kursen på tidspunktet for tilgodehavendets eller gældens opståen</td></tr><tr><td colspan="1">indregnes i resultatopgørelsen under finansielle indtægter og omkostninger.</td></tr><tr><td colspan="1">Anlægsaktiver, der er købt i fremmed valuta, måles til kursen på transaktionsdagen.</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 /><td>Foreign currency translation</td></tr><tr><td /><td>Transactions denominated in foreign currencies are translated at the exchange</td></tr><tr><td /><td>rates at the dates of transaction.</td></tr><tr><td /><td>Exchange differences arising between the rate on the date of transaction and the</td></tr><tr><td /><td>rate on the payment day are recognised in the income statement as financial income</td></tr><tr><td /><td>or financial expenses. Where foreign exchange exposures are considered cash flow</td></tr><tr><td /><td>hedges, value adjustments are recognised directly in equity.</td></tr><tr><td /><td>Receivables, payables and other monetary items denominated in foreign currencies</td></tr><tr><td /><td>that have not been settled at the balance sheet date are translated by applying the</td></tr><tr><td /><td>exchange rates at the balance sheet date. Differences arising between the rate at</td></tr><tr><td /><td>the balance sheet date and the rate at the date of the arising of the receivable or</td></tr><tr><td /><td>payable are recognised in the income statement under financial income and expenses.</td></tr><tr><td /><td>Fixed assets purchased in foreign currencies are measured at the rate of the date</td></tr><tr><td /><td>of transaction.</td></tr></table> -14455 0 0 50 0 -14505 <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="11"></td></tr><tr><td width="7%" colspan="1" align="center" valign="middle" >Note</td><td width="5%" colspan="1" align="center" valign="middle" ></td><td width="10%" colspan="1" align="center" valign="middle" ></td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="25%" colspan="1" align="center" valign="middle" ></td><td width="1%" colspan="1" align="center" valign="middle" ></td><td width="17%" colspan="1" align="center" valign="middle" ></td><td width="0%" colspan="1" align="center" valign="middle" ></td><td width="3%" colspan="1" align="center" valign="middle" ></td><td width="8%" colspan="1" align="center" valign="middle" ></td><td width="23%" align="center" valign="middle" >2017</td></tr><tr><td colspan="11"></td></tr><tr><td width="7%" ></td><td width="93%" colspan="10" align="left" valign="middle" ><b>SKAT AF ÅRETS RESULTAT</b></td></tr><tr><td width="7%" ></td><td width="5%" ></td><td width="10%" ></td><td width="1%" ></td><td width="77%" colspan="7" align="left" valign="middle" ><b>TAX ON PROFIT FOR THE YEAR</b></td></tr><tr><td width="7%" ></td><td width="70%" colspan="9" align="left" valign="middle" >Skat af årets resultat/Tax on profit for the year</td><td width="23%" align="right" valign="middle" >0</td></tr><tr><td width="7%" ></td><td width="70%" colspan="9" align="left" valign="middle" >Udskudt skat, årets regulering/Adjustment of deferred tax</td><td width="23%" align="right" valign="middle" >0</td></tr><tr><td width="7%" ></td><td width="5%" ></td><td width="10%" ></td><td width="1%" ></td><td width="25%" ></td><td width="1%" ></td><td width="17%" ></td><td width="0%" ></td><td width="3%" ></td><td width="8%" ></td><td width="23%" align="right" valign="middle" >0</td></tr><tr><td colspan="11"></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="6" align="left" valign="middle" ><b>EJERFORHOLD</b></td></tr><tr><td width="8%" ></td><td width="92%" colspan="5" align="left" valign="middle" ><b>OWNERSHIP</b></td></tr><tr><td colspan="6"></td></tr><tr><td width="100%" colspan="6" align="left" valign="middle" >Følgende anpartshavere er noteret i selskabets anpartshaverfortegnelse som ejende</td></tr><tr><td width="100%" colspan="6" align="left" valign="middle" >minimum 5% af stemmerne eller minimum 5% af anpartskapitalen</td></tr><tr><td width="8%" ></td><td width="92%" colspan="5" align="left" valign="middle" >The following shareholders are listed in the company's shareholder list as owned</td></tr><tr><td width="8%" ></td><td width="92%" colspan="5" align="left" valign="middle" >minimum 5% of the votes or at least 5% of the share capital</td></tr><tr><td colspan="6"></td></tr><tr><td width="71%" colspan="5" align="left" valign="middle" >TZEDAKAH FUNDS S.C.A.</td><td width="29%" colspan="1" align="left" valign="middle" >Ejerandel: 100%</td></tr><tr><td width="71%" colspan="5" align="left" valign="middle" >1B, rue jean piret</td><td width="29%" colspan="1" align="left" valign="middle" >Equity interest: 100%</td></tr><tr><td width="100%" colspan="6" align="left" valign="middle" >L-2350 Luxembourg</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="2"></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" ><b>NÆRTSTÅENDE PARTER</b></td></tr><tr><td width="33%" ></td><td width="67%" colspan="1" align="left" valign="middle" ><b>RELATED PARTIES</b></td></tr><tr><td colspan="2"></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" >Selskabets nærtstående parter omfatter følgende/Related parties</td></tr><tr><td colspan="2"></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" ><b>Bestemmende indflydelse/Controlling interest</b></td></tr><tr><td colspan="2"></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" >Paula Marie Binney har bestemmende indflydelse.</td></tr><tr><td width="33%" ></td><td width="67%" colspan="1" align="left" valign="middle" >Paula Marie Binney has the deciding influence.</td></tr><tr><td colspan="2"></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" ><b>Øvrige nærtstående parter, som virksomheden har haft transaktioner med.</b></td></tr><tr><td width="33%" ></td><td width="67%" colspan="1" align="left" valign="middle" ><b>Other related parties with which the company has had transactions.</b></td></tr><tr><td colspan="2"></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" >Ingen/None.</td></tr><tr><td colspan="2"></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="2" align="left" valign="middle" ><b>EVENTUALPOSTER</b></td></tr><tr><td width="33%" ></td><td width="67%" colspan="1" align="left" valign="middle" ><b>CONTINGENT LIABILITIES</b></td></tr><tr><td colspan="2"></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" >Selskabet har ingen eventualforpligtelser udover de i regnskabet afsatte forpligtelser.</td></tr><tr><td width="33%" ></td><td width="67%" colspan="1" align="left" valign="middle" >The Company has no contingent liabilities than the deposed obligations</td></tr><tr><td width="33%" ></td><td width="67%" colspan="1" align="left" valign="middle" >in the financial statements.</td></tr><tr><td colspan="2"></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="2" align="left" valign="middle" ><b>PANTSÆTNINGER OG SIKKERHEDSSTILLELSER</b></td></tr><tr><td width="33%" ></td><td width="67%" colspan="1" align="left" valign="middle" ><b>ASSETS CHARGED OR OTHERWISE PROVIDED AS SECURITY</b></td></tr><tr><td colspan="2"></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" >Ingen/None.</td></tr><tr><td colspan="2"></td></tr></table> Årsrapport 12318146 Bergmann Revisionsanpartsselskab Danmarksvej 46A 2800 Kgs. Lyngby Andre erklæringer uden sikkerhed Regnskabsklasse B 54213255 Frank Bergmann Hansen Statsautoriseret revisor mne9385 Revision Paula Marie Binney 0 -14505 0 40495 40495 40495 50000 -14505 35495 0 0 0 5000 5000 40495