360638582014-08-132015-12-31360638582015-12-31360638582014-08-132015-12-310360638582014-08-132015-12-311360638582014-08-132015-12-312360638582014-08-132015-12-313360638582014-08-132015-12-314360638582014-08-132015-12-31fsa:ProposedDividendRecognisedInLiabilitiesMember360638582014-08-132015-12-31fsa:RetainedEarningsMemberiso4217:DKKsharespure2016-03-18Béla BenedekFrederiksberg2016-03-18RevisionspåtegningFrederiksberg2016-03-18Regnskabsklasse BfalsefalseÅrsrapport36063858ANC Group ApSco/ Revision København Finsensvej 80 A 1. sal2000Frederiksberg2014-08-13000 - Uspecificeretbela.vince@anc.hu2014-08-132015-12-31Revision København,Godkendt RevisionspartnerselskabFinsensvej 80 A2000 FrederiksbergOwnershipMain activityThe company's main activity is wholesale trade with corn and similar productsToday the Executive Board has discussed and approved the Annual Report of ANC Group ApS for the period 13. august 2014 - 31. december 2015.The Annual Report has been prepared in conformity with the Financial Statements Act.In my opinion, the financial statements give a true and fair view of the Company's assets, equity, liabilities and financial position at 31. december 2015 and of its financial performance for the period 13. august 2014 - 31. december 2015.We recommend that the Annual Report be approved by the Annual General Meeting.To the shareholders of ANC Group ApSWe have audited the financial statements of ANC Group ApS for the period 13. august 2014 - 31. december 2015 , including accounting policies, income statement, balance sheet and notes. The financial statements have been prepared in conformity with the Danish Financial Statements Act.Management's responsibility for the financial statements The Company's Management is responsible for the preparation and fair presentation of financial statements in conformity with the Danish Financial Statements Act. Management is also responsible for the internal control that it deems necessary for the preparation of financial statements that are free from material misstatement, whether due to fraud or error.Auditor’s responsibility Our responsibility is to express an opinion on the financial statements based on our audit. We have performed the audit in accordance with international auditing standards and additional requirements under Danish audit regulations. That requires that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance that the financial statements are free from material misstatement.An audit includes performing procedures to obtain audit evidence of the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditors consider internal control relevant to the Company's preparation and fair presentation of financial statements 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. An audit also includes evaluating the appropriateness of the accounting policies applied and the reasonableness of the accounting estimates made by Management as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence obtained is sufficient and appropriate to provide a basis for our opinion.The audit did not result in a qualification.Conclusion In our opinion, the financial statements give a true and fair view of the Company's assets, equity, liabilities and financial position at 31. december 2015 and of its financial performance for the period 13. august 2014 - 31. december 2015 in conformity with the Danish Financial Statements Act.IN GENERAL The annual financial statement of ANC Group ApS for 2014/15 is prepared in accordance with the recognition and measurement criteria stipulated for accounting class B in the Financial Statements Act. The current year is the first financial period of the Company, for which reason no comparative figures are disclosed in the income statement, balance sheet and notes.Recognition and measurement in general The financial statements have been prepared under the historical cost convention. Income is recognised in the income statement when earned. Value adjustments of financial assets and liabilities measured at fair value or amortised cost are also recognised in the income statement. Costs incurred to generate the earnings for the year are also recognised in the income statement, including amortisation, depreciation, impairment losses and provisions as well as reversals resulting from changed accounting estimates of amounts previously recognised in the income statement. Assets are recognised in the balance sheet when it is probable that future financial benefits will flow to the Company and it is possible to obtain a reliable measurement of the individual assets. Liabilities are recognised in the balance sheet when it is probable that future financial benefits will flow from the Company and it is possible to obtain a reliable measurement of the individual liabilities. On initial recognition, assets and liabilities are measured at cost. Subsequently, assets and liabilities are measured as described for each item. Anticipated losses and risks arising before the presentation of the financial statements and confirming or disconfirming facts and circumstances known at the reporting date are taken into consideration at recognition and measurement.The functional currency used is Danish kroner. All other currencies are considered foreign currencies. Foreign currency translation Foreign currency transactions are translated at the exchange rates ruling at the transaction dates. Gains and losses arising from movements between the exchange rates at the date of the individual transaction and the date of payment are recognised in the income statement as financial income or financial expenses.INCOME STATEMENT General informationCertain income and expenses have been aggregated in the item designated 'Gross profit' with reference to section 32 of the Financial Statements Act.Gross profitGross profit is a combination of the items of 'Revenue', 'Change in inventories of finished goods, work in progress and goods for resale', 'Other operating income', 'Cost of raw materials and consumables' and 'Other external costs'.Revenue Revenue from the sale of goods for resale and finished goods is recognised in the income statement if the goods have been delivered and the risk has passed to the buyer before year-end. Revenue is recognised exclusive of VAT and net of sales discounts.Other operating income and expensesOther operating income and expenses comprise items relating to activities secondary to the activities of the enterprise, including profit and loss from the disposal of property, plant and equipment.Cost of raw materials and consumablesCost of raw materials and consumables includes the cost of goods purchased less discounts and changes in inventories for the year.Other external expensesOther external expenses include costs for sales, advertising, administration, premises, bad debts, rental expenses under operating leases, etc.Staff costs Staff costs include wages, salaries and other pay-related costs, such as sickness benefits for enterprise employees less wage/salary reimbursement from the Government.Financial income and expensesFinancial income and expenses are recognised in the income statement based on the amounts which relate to the financial year. Financial income and expenses include interest revenue and expenses, finance charges in respect of finance leases, realised and unrealised capital gains and losses on securities, accounts payable and transactions in foreign currencies, repayment on mortgage loans, and surcharges and allowances under the tax prepayment scheme. Dividends from other equity investments are recognised as income in the financial year in which the dividends are declared.Tax on net profit for the yearTax for the year comprises current tax and changes in deferred tax. The share attributable to the profit or loss for the year is recognised in the income statement, and the share attributable directly to equity is recognised directly in equity. Any change in deferred tax as a result of changes in the tax rate is recognised in the income statement.BALANCE SHEETReceivablesReceivables are measured at amortised cost, which normally corresponds to the nominal value. The value is reduced by an allowance for expected impairment losses.DividendsProposed dividends for the year are recognised as a separate item under equity. Proposed dividends are recognised as a liability when approved by the Annual General Meeting.Corporate income tax and deferred taxCurrent tax liabilities and current tax receivables are recognised in the balance sheet as tax calculated on the taxable income for the year adjusted for tax on the taxable income for previous years and for prepaid taxes.Deferred tax is measured using the balance-sheet liability method on any temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. In cases where the tax base can be determined under alternative taxation rules, such as in relation to shares, deferred tax is measured on the basis of the intended use of the relevant asset or settlement of the liability.Deferred tax assets, including the tax base of tax losses allowed for carryforward, are measured at their anticipated realisable values, either by elimination in tax on future earnings or by being offset against deferred tax liabilities within the same legal tax entity. Any deferred net tax assets are measured at their net realisable values. Deferred tax is measured based on the tax rules and tax rates applicable when the deferred tax is expected to crystallise as current tax according to the legislation in force at the reporting date. Any change in deferred tax as a result of changes in the tax rates is recognised in the income statement.Payables Other payables, comprising trade payables and amounts owed to Group enterprises and associates and other accounts payable, are measured at amortised cost, which normally corresponds to the nominal value.34609725582251089765907424464562271 Staff costs Wages and salaries 254.472 Other social security costs 1.350 255.822 2 Tax on net profit for the year Calculated tax on net profit for the year 24.464 24.464 3 Equity Contributed capital 50.000 050.000 Retained earnings 0 11.22711.227 Proposed dividends for the year 0 45.00045.000 50.000 56.227106.227 The share capital is divided as follows: 50 shares of nom 1.000 50.000 50.000 4 Contingencies, etc. The company has no contingent assets and liabilities 5 Charges and securities The company has not pawned or provide security of any kind 5179318833945446710607378043681865105186510550000112274500010622716457232556587590175887817588781865105Brian Hansen34619654Revision København, Godkendt RevisionspartnerselskabRegistreret revisor, Cand.merc.aud. FSR - Danske RevisorerBéla Benedek4500011227