200803452015-10-012016-09-30200803452015-10-012016-09-301200803452015-10-012016-09-302200803452015-10-012016-09-30200803452015-10-012016-09-30200803452015-10-012016-09-30fsa:RetainedEarningsMember200803452014-10-012015-09-30200803452014-10-012015-09-30fsa:RetainedEarningsMember200803452016-09-30200803452015-09-30xbrli:purexbrli:pureiso4217:DKKxbrli:shares To the day-to-day management of Sundeved VVS ApS We have compiled the Financial Statements of Sundeved VVS ApS for the financial year 1 October 2015 - 30 September 2016 based on the Company's bookkeeping and other information provided by it. The Financial Statements comprise Accounting Policies, Income Statement, Balance Sheet and Notes. , Since a compilation engagement regarding financial information is not an assurance engagement, we are not required to verify the accuracy or completeness of the information you have given us in order for us to compile the Financial Statements. Accordingly, we do not express an audit or review opinion on whether the Financial Statements are prepared in accordance with the Danish Financial Accounts Act. , The Financial Statement and the accuracy and completeness of the information used to compile them are your responsibility. , We have completed the engagement of Compiling Finansial Information in accordance with The International Standards on Related Services, ISRS 4410 (Revised), Compilation Engagements. We have applied our professional expertise to assist you in the preparation and presentation of these Financial Statements in accordance with the Danish Financial Statements Act. We have complied with relevant provisions in the Danish Act on Auditors and Audit Firms as well as Danish Auditors' (FSR) ethical rules for auditors, including principles of integrity, objectivity, professional competence and due care. Sønderborg, 16 February 2017 Mogens Knudsen, registreret revisionsselskab ApS CVR-no. 44650819 Mogens Knudsen, HD Registreret revisor 2017-02-16Sønderborg44650819Friedrich JepsenFinn Bonde Executive Board Friedrich Jepsen Finn Bonde Direktør Direktør Mogens Knudsen, registreret revisionsselskab ApSManagerManagerAndre erklæringer uden sikkerhed89399311268522302493Regnskabsklasse B442695996125000125000834712102354365226064402846404 Reporting Class The Annual Report of Sundeved VVS ApS for 2015/16 has been presented in accordance with the provisions of the Danish Financial Statements Act applying to enterprises of reporting class B. The accounting policies applied remain unchanged from last year. Reporting currency The Annual Report is presented in Danish kroner. General Information Basis of recognition and measurement Income is recognised in the Income Statement as it is earned, including value adjustments of financial assets and liabilities that are measured at fair value or amortised cost. Moreover, all expenses incurred to achieve the earnings for the year are recognised in the Income Statement, including depreciation, amortisation, impairment losses and provisions as well as reversals due to changed accounting estimates of amounts that have previously been recognised in the Income Statement. Assets are recognised in the Balance Sheet when it is probable that future economic benefits attributable to the asset will accrue to the Company, and the value of the asset can be measured reliably. Liabilities are recognised in the Balance Sheet when it is probable that future economic benefits attributable to the asset will flow out of the Company, and the value of the liability can be measured reliably. At initial recognition, assets and liabilities are measured at cost. Subsequently, assets and liabilities are measured as described for each item below. Certain financial assets and liabilities are measured at amortised cost, which involves the recognition of a constant effective interest rate over the term. Amortised cost is calculated as original cost less repayments and with the addition/deduction of the accumulated amortisation of the difference between the cost and the nominal amount. This way, exchange losses and gains are allocated over the term. In connection with recognition and measurement, consideration is given to predictable losses and risks occurring prior to the presentation of the Annual Report, i.e. losses and risks which prove or disprove matters which exist at the balance sheet date. Income Statement Gross profit/loss The Company has decided to aggregate certain items of the Income Statement in accordance with the provisions of Section 32 of the Danish Financial Statements Act. Revenue Other operating income and expenses Other operating income and expenses comprise items of a secondary nature to the principal activity of the Company. Raw materials and consumables Costs for raw materials and consumables comprise purchase of goods and services for resale. Other external expenses Other external expenses comprise expenses regarding sale and administration. Staff expenses Staff expenses comprise wages and salaries, pensions and social security costs. Other staff expenses are recognised in other external expenses. Amortisation and impairment of tangible and intangible assets Amortisation and impairment of intangible and tangible assets has been performed based on a continuing assessment of the useful life of the assets in the Company. Non-current assets are amortised on a straight line basis, based on cost, on the basis of the following assessment of useful life and residual values: Useful life Residual value Completed development projects 5 years 0% Consessions, patents, licens, trademarks and other similar rights 10 years 0% Goodwill 5 years 0% Properties 20-50 years 0% Plant and machinery 5-10 years 0% Other fixtures and fittings, tools and equipment 3-10 years 0% Leasehold improvements 5 years 0% Land is not amortised. Profit or loss resulting from the sale of intangible or tangible assets is determined as the difference between the selling price less selling costs and the carrying amount at the date of sale, and is recognised in the Income Statement under other operating income or expenses. Financial income and expenses Financial income and expenses are recognised in the Income Statement with the amounts that concern the financial year. Financial income and expenses include interest income and expenses, realised and unrealised capital gains and losses regarding securities, debt and foreign currency transactions, dividends received from other equity investments, amortisation of financial assets and liabilities as well as surcharges and allowances under the tax repayment scheme. Tax on net profit/loss for the year Tax on net profit/loss for the year comprises current tax on expected taxable income of the year and the year's adjustment of deferred tax less the part of the tax of the year that relates to changes in equity. Current and deferred tax regarding changes in equity is recognised directly in equity. Balance Sheet Tangible assets Tangible assets are measured at cost plus revaluations, if any, and less accumulated amortisation and impairment losses. Cost comprises the purchase price and costs directly attributable to the purchase until the date when the asset is available for use. Inventories Inventories are measured at cost on the basis of the FIFO principle or at the net realisable value if the latter is lower. Merchandise are measured at cost comprising purchase price plus delivery costs. Supply of services in progress Supply of services in progress is measured at the selling price of the work performed. The stage of completion is determined on the basis of direct and indirect costs incurred in relation to expected total costs. The value of the individual supplies in progress less invoicing on account is classified as receivables if the amounts are positive and as payables if the amounts are negative. Deduction for loss is determined as the total expected contract loss, irrespective of the share actually performed. Receivables Receivables are measured at amortised cost which usually corresponds to the nominal value. The value is reduced by write-downs for expected bad debts. Accrued income, assets Accrued income recognised in assets comprises prepaid costs regarding subsequent financial years. Cash and cash equivalents Cash and cash equivalents comprise cash at bank and in hand as well as short-term securities with a term of less than three months which can be converted directly into cash at bank and in hand and involve only an insignificant risk of value changes. Financial liabilities Fixed-rate loans such as mortgage loans and loans from credit institutions are recognised initially at the proceeds received less transaction expenses incurred. In subsequent periods, loans are measured at amortised cost so that the difference between the proceeds and the nominal value is recognised in the Income Statement as an interest expense over the term of the loan. Other liabilities are measured at amortised cost which usually corresponds to the nominal value. Current tax liabilities Current tax liabilities and current tax receivables are recognised in the Balance Sheet as calculated tax on the expected taxable income for the year, adjusted for tax on taxable income for previous years as well as for tax prepaid. Contingent assets and liabilities Contingent assets and liabilities are not recognised in the Balance Sheet but appear only in the notes. 8. Contingent liabilities No contingent liabilities exist at the balance sheet date. 6. Contributed capital Balance at the beginning of the year 125.000 125.000 Additions during the year 300.000 0 Disposals during the year -300.000 0 Balance at the end of the year 125.000 125.000 The share capital has remained unchanged for the last 5 years. 1. Employee benefits expense Wages and salaries 1.385.889 1.540.892 Post-employement benefit expense 81.379 100.129 Social security contributions 38.936 39.005 1.506.204 1.680.026 7. Retained earnings Balance at the beginning of the year -279.205 -137.004 Additions during the year 312.972 0 Disposals during the year 0 -142.201 Balance at the end of the year 33.767 -279.205 4. Inventories Inventories are stated as follows: Manufactured goods and goods for resale 482.275 571.218 Inventories in total 482.275 571.218 11. Liabilities under leases 10. The Company's principal activities 9. Collaterals and securities No securities or mortgages exist at the balance sheet date. 3. Finance expenses 40.315 42.620 40.315 42.620 2. Finance income 2.100 1.335 2.100 1.335 15062041680026158767-15420559281103309160141916255145. Contract work in progress Sales value of work 44.269 5.996 Net value of contract work 44.269 5.996 4822755712188939931126852735226128105748227557121859281103309403154262021001335255413263812101871895112972-142201-1297214220112972-14220151187-1009165928110330933767-27920528054446216173522612810571084264094283522074498320400040228084908431416562930774141956400, SønderborgDamgade 732017-02-161997-05-012017-02-23svvs@pc.dk74 46 15 212008034544650819ÅrsrapportFinn BondeDanske Andelskassers Bank A/SSundeved VVS ApSMogens Knudsen, registreret revisionsselskab ApS2014-10-012015-09-30540, Sønderborg2016-09-302015-10-0174 46 15 42Development in activities and financial matters The Company's Income Statement of the financial year 01-10-2015 - 30-09-2016 shows a result of DKK 12.972 and the Balance Sheet at 30-09-2016 a balance sheet total of DKK 893.993 and an equity of DKK 158.767. The Company's principal activities The Company's principal activities consist in ... The Company's principal activities The Company's principal activities consist in ... Development in activities and financial matters The Company's Income Statement of the financial year 01-10-2015 - 30-09-2016 shows a result of DKK 12.972 and the Balance Sheet at 30-09-2016 a balance sheet total of DKK 893.993 and an equity of DKK 158.767. Post financial year events After the end of the financial year, no events have occurred which may change the financial position of the entity substantially. 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 assets, liabilities and financial position of the Company at 30 September 2016 and of the results of the Company's operations for the financial year 1 October 2015 - 30 September 2016. The conditions for not conducting an audit of the Financial Statement have been met. 2017-02-16 Today, Management has considered and adopted the Annual Report of Sundeved VVS ApS for the financial year 1 October 2015 - 30 September 2016. SønderborgWe recommend that the Annual Report be adopted at the Annual General Meeting. Today, Management has considered and adopted the Annual Report of Sundeved VVS ApS for the financial year 1 October 2015 - 30 September 2016. 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 assets, liabilities and financial position of the Company at 30 September 2016 and of the results of the Company's operations for the financial year 1 October 2015 - 30 September 2016. The conditions for not conducting an audit of the Financial Statement have been met. The Annual General Meeting of the Company decides that the Financial Statements for next year are not to be audited. The conditions for not conducting an audit of the Financial Statements have been met. We recommend that the Annual Report be adopted at the Annual General Meeting. Sønderborg, 16 February 2017 Executive Board Friedrich Jepsen Finn Bonde Direktør Direktør The Annual General Meeting of the Company decides that the Financial Statements for next year are not to be audited. The conditions for not conducting an audit of the Financial Statements have been met.