315015472016-07-012017-06-30315015472016-07-012017-06-30Direktionsmedlem 01315015472016-07-012017-06-30Bestyrelsesmedlem 1315015472016-07-012017-06-30Bestyrelsesmedlem 2315015472016-06-30315015472017-06-30315015472015-07-012016-06-30315015472017-06-30fsa:InvestmentsInGroupEnterprisesMember315015472016-06-30fsa:InvestmentsInGroupEnterprisesMember315015472016-07-012017-06-30fsa:InvestmentsInGroupEnterprisesMember315015472015-07-012016-06-30fsa:InvestmentsInGroupEnterprisesMember315015472016-07-012017-06-30fsa:ReserveForNetRevaluationAccordingToEquityMethodMember315015472015-07-012016-06-30fsa:ReserveForNetRevaluationAccordingToEquityMethodMember315015472016-07-012017-06-30fsa:RetainedEarningsMember315015472015-07-012016-06-30fsa:RetainedEarningsMember315015472015-07-012016-06-30fsa:ReserveForNetRevaluationAccordingToEquityMethodMember315015472016-07-012017-06-30fsa:RetainedEarningsMember315015472016-07-012017-06-30fsa:ReserveForNetRevaluationAccordingToEquityMethodMember315015472015-07-012016-06-30fsa:RetainedEarningsMember315015472017-06-30fsa:ContributedCapitalMember315015472016-06-30fsa:ContributedCapitalMember315015472016-06-30fsa:ReserveForNetRevaluationAccordingToEquityMethodMember315015472017-06-30fsa:RetainedEarningsMember315015472016-06-30fsa:RetainedEarningsMember315015472016-07-012017-06-30Revisionsvirksomhed 01315015472016-07-012017-06-30Revisionsvirksomhed 02315015472016-07-012017-06-30Revisionsvirksomhed 01 - Revisor 01315015472016-07-012017-06-30Revisionsvirksomhed 01 - Revisor 02iso4217:DKKpureThe purpose of the Entity is to directly or indirectly own share capital in group enterprises.The Entity achieved a net loss of DKK 10.609k.
The Entity has sold it’s investments in group entreprises in the financial year 2016/17, which influenced the income statement negatively.No events have occurred after the balance sheet date to this date, which would influence the evaluation of this annual report.Claus Berner NielsenThe Board of Directors and the Executive Board have today considered and approved the annual report of KR Electronics Holding ApS for the financial year 01.07.2016 - 30.06.2017.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. Kim Thomas RasmussenClaus Berner NielsenChief Executive OfficerChairman23267100014630002440008624000184000468700016470002462260002326710001647000135550002326710001388000750002440008624000547000600050006000720004700002375000408000147000869000-1227400016184000-21000-143000-93000-143000-101390001558000072000This 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.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 writedowns for bad and doubtful debts. Current tax payable or receivable is recognised in the balance sheet, stated as tax computed on this year's taxable income, adjusted for prepaid taxSecurities recognised under current assets comprise listed securities measured at fair value (market price) at the balance sheet date.Cash comprises bank deposits.092161000-92161000014051000011354000-70000000Other financial liabilities are measured at amortised cost, which usually corresponds to nominal value.Other external expenses include expenses relating to the Entity’s ordinary activities, including expenses of distribution, sales, administration premises, bad debts etc. Income 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 income comprises dividends etc received on other investments, interest income, including interest income on receivables from group enterprises, payables and transactions in foreign currencies, amortisation of financial assets as well as tax relief under the Danish Tax Prepayment Scheme etc. Other financial expenses comprise interest expenses, including interest expenses on payables to group enterprises, net capital losses on securities, payables and transactions in foreign currencies, amortisation of financial liabilities as well as tax surcharge under the Danish Tax Prepayment Scheme etc.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. Staff costs comprise salaries and wages as well as social security contributions, pension contributions, etc for entity staff.-81864000474000-125000-40004000131501547KR Electronics Holding ApSRønde2017-10-24Claus Berner NielsenIn our opinion, the financial statements give a true and fair view of the Entity’s financial position at 30.06.2017 and of the results of its operations for the financial year 01.07.2016 - 30.06.2017.2017-10-24RøndeGross profit or loss comprises other operating income and external expenses. The Entity serves as an administration company in a Danish joint taxation arrangement. According to the joint taxation provisions of the Danish Corporation Tax Act, the Entity is therefore liable from the financial year 2013 for income taxes etc. for the jointly taxed entities, and from 1 July 2012 also for obligations, if any, relating to the withholding of tax on interest, royalties and dividends for these companies. 33963556Deloitte Statsautoriseret RevisionspartnerselskabCity Tower, Værkmestergade 8000 Aarhus C164700024622600011000002462200001250001250001439100009750001021850005470006000-106090001570100072000470000-1210002343740001135400016184000-256337000-483000-1060900015701000-1370001135400016184000-256337000-483000125000125000143910000975000102185000Management 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 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 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 KR Electronics Holding ApS for the financial year 01.07.2016 - 30.06.2017, 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 30.06.2017 and of the results of its operations for the financial year 01.07.2016 - 30.06.2017 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.Årsrapport232671000Regnskabsklasse BTo the shareholders of KR Electronics Holding ApSAarhus2017-10-24Lerbakken108410Rønde33963556Deloitte Statsautoriseret RevisionspartnerselskabCity Tower, Værkmestergade28000Aarhus C-155264000155264000234374000-234374000Revisionspåtegning-1060900015701000The accounting policies applied to these financial statements are consistent with those applied last year however with some reclassifications.Investments in group enterprises are recognised and measured according to the equity method. This means that investments are measured at the pro rata share of the enterprises’ equity value plus or minus unamortised goodwill and plus or minus unrealised intra-group profits or losses.
Group enterprises with negative equity value are measured at DKK 0. Any receivables from these enterprises are written down to net realisable value based on a specific assessment. If the Parent has a legal or constructive obligation to cover the liabilities of the relevant enterprise, and it is probable that such obligation is imminent, a provision is recognised that is measured at present value of the costs deemed necessary to incur to settle the obligation.
Upon distribution of profit or loss, net revaluation of investments in group enterprises is transferred to Reserve for net revaluation according to the equity method under equity.
Goodwill is calculated as the difference between cost of the investments and fair value of the pro rata share of assets and liabilities acquired. Goodwill is amortised straight-line over its estimated useful life, which is fixed based on the experience gained by Management for each business area. Useful life is determined based on an assessment of whether the enterprises are strategically acquired enterprises with a strong market position and a long-term earnings profile and whether the amount of goodwill includes intangible resources of a temporary nature that cannot be separated and recognised as separate assets. If the useful life cannot be estimated reliably, it is fixed at 10 years. Useful lives are reassessed annually. The amortisation periods used are 10 years.
Investments in group enterprises are written down to the lower of recoverable amount and carrying amount.State Authorised Public AccountantState Authorised Public AccountantKlaus Tvede-JensenHenrik Brorsbøl Jakobsen89 41 41 412016-07-012017-06-302016-06-302015-07-01