36054239 2021-01-01 2021-12-31 36054239 2021-12-31 36054239 2020-01-01 2020-12-31 36054239 2020-12-31 36054239 2021-01-01 2021-12-31 2 36054239 2021-01-01 2021-12-31 1 36054239 2021-01-01 2021-12-31 2 36054239 2021-01-01 2021-12-31 fsa:RetainedEarningsMember 36054239 2020-01-01 2020-12-31 fsa:RetainedEarningsMember iso4217:DKK xbrli:pure xbrli:shares 2021-01-01 2021-12-31 2020-01-01 2020-12-31 Årsrapport SØNDERUP I/S 31824559 registreret revisor mne32755 Sønderup I/S Jyllandsgade 9 4100 Ringsted BHGK ApS Ryttergårdsvej 3 7673 Harboøre 36054239 Chun Kei Alex Lau Jan Pedersen Ole Rygaard Andersen Regnskabsklasse B 2022-06-29 Blåvand 2022-06-29 Jan Pedersen 2022-06-29 Ringsted Auditor's report on extended review <p>The management have today considered and approved the annual report for BHGK ApS for the financial year 1 January to 31 December 2021.</p><p>The annual report is presented in accordance with the Danish Financial Statements Act.</p><p>In the managements opinion, the financial statements give a true and fair view of the company's financial position at 31 December 2021 and of its financial performance for the financial year 1 January to 31 December 2021.</p><p>We recommend the annual report for approval at the annual general meeting.</p> <p>We have performed an extended review of the financial statements of which comprise income statement, balance sheet, statement of changes in equity and notes, including a summary of significant accounting policies. The financial statements are prepared under the Danish Financial Statements Act.</p><p>Based on the work performed, in our opinion, the financial statements give a true and fair view of the Company's financial position at 31. december 2021 and of the results of the Company's operations for the financial year 1. januar - 31. december 2021 in accordance with the Danish Financial Statements Act.</p> <p>We conducted our extended review in accordance with the Danish Business Authority's Assurance Standard for Small Enterprises and FSR - Danish Auditors' standard on extended review of financial statements prepared in accordance with the Danish Financial Statements Act. Our responsibilities under those standards and requirements are further described in the 'Practitioner's responsibilities for the extended review 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 evidence we have obtained is sufficient and appropriate to provide a basis for our conclusion.</p> <p>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 the financial statements that are free from material misstatement, whether due to fraud or error.</p><p>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.</p> <p>Our responsibility is to express a conclusion on the financial statements. This requires that we plan and perform procedures in order to obtain limited assurance for our conclusion on the financial statements and in addition perform specifically required supplementary procedures to obtain further assurance for our conclusion.</p><p>An extended review comprises procedures that primarily consist of making inquiries of Management and others within the Company, as appropriate, analytical procedures and the specifically required supplementary procedures as well as evaluation of the evidence obtained. </p><p>The procedures performed in an extended review are less than those performed in an audit, and accordingly, we do not express an audit opinion on the financial statements.</p> <p>The annual report for BHGK ApS 2021 has been prepared in accordance with the Danish Financial Statements Act for class B companies with application of individual rules from class C.</p><p>The income statement is presented by type of expenditure and the balance sheet is presented in account from. The measurement currency used is Danish kroner. All other currencies are considered foreign currency.</p><p>The accounting principles were applied consistently with the principles of last year's financial reporting.</p> <p>Income is recognized in the income statement as earned, including any value adjustments of financial assets and liabilities. Furthermore, all costs, including amortisation/depreciation and write-downs, are recognized in the income statement.</p><p>Assets are recognized in the balance sheet when it is probable that future economic benefits will flow to the company, and the value of the assets can be measured reliably.</p><p>Liabilities are recognized in the balance sheet when it is probable that future economic benefits wil flow out of the company, and the value of the liabilities can be measured reliably.</p><p>The first recognition measures assets and liabilities at cost. Subsequently, assets and liabilities will be measured individually in respect of each accounting item as described below.</p><p>Anticipated risks and loses 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.</p> <p>In pursuance of section 32 (1) of the Danish Financial Statements Act, the first item in the income statement is the gross profit. The item gross profit is the result of revenue, cost of sales, other external cost and other operating income.</p><p>Net sales in connection with sales of commercial products and finished products are recognized in the profit and loss account, if delivery has taken place and the risk has passed to the customer before the end of the year. Net sales are recognized ex. VAT and net of discounts related to the individual sale.</p> <p>Cost of goods sold comprises the financial year's cost of sales measured to sales price, ajusted for ordinary inventory write-offs.</p> <p>Other external cost comprise costs for distribution, sales, advertising, administration, premises, operating leasing costs etc.</p> <p>Financial income and expenses are regognized in the income statement with the amounts relating to the financial year. The financial items comprise interest income and expense and surcharges and refunds regarding corporation tax.</p> <p> The company is jointly taxed with other group companies. The current corporation tax is divided between the jointly taxed companies pro rata to their taxable incomes. The parent company functions as the management company for the joint taxation and handles the tax payments to the danish tax authorities.</p><p>Tax for the year, which consists of current tax for the year and changes in deferred tax, is recognized in the income statement by the portion attributable to the profit for the year and recognized directly on equity by the portion attributable to entries directly on equity.</p> <p>Land and buildings, other plant, operating equipment and tools and fixtures as well as leasehold improvements are measured at cost price less accumulated depreciation and write-down. </p><p>Depreciation is based on cost price less expected residual value after end of service life. Land is not subject to depreciation. The cost price includes acquisition price and costs directly linked to the acquisition until the time when the asset is ready for commencement of use.</p><p>Straight-line depreciation is based on the following assesment of the assets expected useful lives:</p><p>[n- Buildings: life cycle 50 years, residual value 0% [n- Other fixtures and fittings, tools and equipment: Life cycle 5 years, residual value 0%.</p><p>Assets with a cost per unit under the tax threshold for small assets are recognized as expenses in the year of acquisition.</p><p>Profits or losses in connection with disposal of tangible fixed assets are calculated as the difference between the sales price less sales costs and the book value at the time of sale. Profits and losses are entered in the income statement under other operating income and -costs.</p> <p>Rental and lease contracts is considered as operating leases. Payments in connection with operating lease and other rental agreements are recognized in the income statement over the lease term. The company's total liabilities concerning operating leases are disclosed in connection with contingent items etc.</p> <p></p><p>The proportionate share of the group companies and associated companies are recognized in the income statement. Investments from these companies are recognized in the balance sheet at the proportionate share of the net asset value.</p><p>Group companies and associates with negative net asset values are recognized at DKK zero and any receivables from these enterprises are written down by the parent company's share of the negative equity to the extent it is deemed uncollectible. If the negative net book value exceeds the amount owed, the remaining amount is recognized under provisions to the extent that the parent has a legal or constructive obligation to cover the subsidiary's balance sheet.</p><p>The total net revaluation of investments in group companies and associates are transferred to reserve for net revaluation according to the equity method under equity. The reserve is reduced by dividend payments to the parent company and by other changes in equity in group companies and associated companies.</p><p>Newly acquired or established companies are recognized in the annual report from the acquisition date. Sold or divested companies are included up to the date of disposal.</p><p>Surcharge on acquisition of interests in relation to the actual net asset value is considered goodwill. This goodwill is amortized linearly over the estimated service life. The amortization period for goodwill is in the annual report incorporated with 10 years.</p> <p>The carrying value of intangible and tangible fixed assets and investments in subsidiaries are assessed annually for indications of impairment beyond what is expressed by depreciation.</p><p>If there are indications of impairment, an impairment test of each asset or group of assets will be made. Impairment will be made to its recoverable amount if this is lower than the carrying value.</p> <p>Inventories are valued at cost using the FIFO method. In cases where net realizable value is lower than cost, it will be written down to this lower value.</p><p>Cost of goods for resale, raw materials and consumables comprise of purchase price plus transportation costs.</p><p>The cost of finished goods and work in progress comprises raw materials, direct labor and direct production costs.</p><p>The net realizable value of inventories is calculated as the selling price less costs of completion and costs to be incurred to make the sale and is determined taking into account marketability, obsolescence and development in expected sales.</p> <p>Receivables are measured at amortized cost, which usually corresponds to the nominal value. Value is reduced by provisions for bad debts.</p> <p>Prepaid expenses are recorded as assets.</p> <p>Liquid assets are measured at nominal value.</p> <p>Current tax liabilities and current tax assets are recognized in the balance sheet as tax calculated on the taxable income allocated with the current tax rate, and adjusted for tax on prior years taxable income and prepaid taxes.</p><p>Deferred tax is measured by the liability method concerning temporary differences between the caffying value and tax value of assets and liabilities, calculated based on the planned use of the assets and settlement of the obligation, respectively.</p><p>Deferred tax assets, including the tax value of tax losses allowed for carry-forward, are measured at the value at which the asset is expected to be realisable, either through elimanation in tax on future earnings or through offsetting in deferred tax liabilities in the same legal tax unit. Any deferred net tax assets are measured at their net realisation values.</p><p>Deferred tax is measured based on the tax rules and tax rates applicable in pursuance of the legislation in force on the balance sheet date when the deferred tax is expected to become payable as current tax. Changes in deferred tax due to change in tax rates is recognized in the income statement.</p> <p> Other liabilities are measured at amortised cost corresponding to the nominal value.</p> <p>Transactions in foreign currencies are converted at the rate of exchange on the transaction date. Exchange differences arising between the rate on the transaction date and the rate on the payment date are recognized in the income statement as a financial income or expence. If the foreign exchange position is considered to hedge future cash flows, the unrealised exchange adjustments are recognized directly in the equity.</p><p>Accounts receivable, payable and other monetary items in foreign currencies that are not settled on the balance sheet date are converted at the exchange rate on the balance sheet date. The difference between the exchange rate on the balance sheet date and the receivable or payable is recognized in the income statement as financial income or expenses.</p><p>Fixed assets acquired in foreign currencies are converted at the rate of exchange on the transaction date.</p> 1 0 799054 1104523 506110 0 386760 425663 -93816 678860 -405468 -719385 -51128 -59105 -550412 -99630 -550412 -99630 -550412 -99630 11852724 12037649 298089 424338 12150813 12461987 50000 50001 50000 50001 12200813 12511988 640710 279237 39789 633390 0 680 680499 913307 853 20901 853 20901 681352 934208 12882165 13446196 50000 50000 -1299420 -749008 -1249420 -699008 2806970 2971064 2806970 2971064 0 68563 11280259 11105577 44356 0 11324615 11174140 14131585 14145204 12882165 13446196 <table style="border-collapse: collapse"><tbody><tr><th style="border: 0px solid; text-align: left"><h4></h4></th><th style="border: 0px solid; text-align: right; width: 15%"><h4>2021</h4></th><th style="border: 0px solid; text-align: right; width: 15%"><h4>2020</h4></th></tr><tr><td style="border: 0px solid">Salaries</td><td style="border: 0px solid; text-align: right"> 496.570</td><td style="border: 0px solid; text-align: right"> 0</td></tr><tr><td style="border: 0px solid">Other social security costs</td><td style="border: 0px solid; text-align: right"> 9.540</td><td style="border: 0px solid; text-align: right"> 0</td></tr><tr><td style="border: 0px solid">Total staff costs</td><td style="border: 0px solid; text-align: right"> 506.110</td><td style="border: 0px solid; text-align: right"> 0</td></tr><tr><td style="border: 0px solid"></td><td style="border: 0px solid; text-align: right"></td><td style="border: 0px solid; text-align: right"></td></tr><tr><td style="border: 0px solid">Persons employed on average</td><td style="border: 0px solid; text-align: right"> 1</td><td style="border: 0px solid; text-align: right"> 0</td></tr></tbody></table><table style="border-collapse: collapse"><tbody><tr><th style="border: 0px solid; text-align: left"><h4></h4></th><th style="border: 0px solid; text-align: right; width: 15%"><h4></h4></th><th style="border: 0px solid; text-align: right; width: 15%"><h4></h4></th></tr><tr><td style="border: 0px solid">Persons employed on average</td><td style="border: 0px solid; text-align: right"> 1</td><td style="border: 0px solid; text-align: right"> 0</td></tr><tr><td style="border: 0px solid"></td><td style="border: 0px solid; text-align: right"></td><td style="border: 0px solid; text-align: right"></td></tr></tbody></table> <table style="border-collapse: collapse"><tbody><tr><th style="border: 0px solid; text-align: left"><h4></h4></th><th style="border: 0px solid; text-align: right; width: 15%"><h4>2021</h4></th><th style="border: 0px solid; text-align: right; width: 15%"><h4>2020</h4></th></tr><tr><td style="border: 0px solid">Depreciation and write-downs of fixed assets</td><td style="border: 0px solid; text-align: right"> 386.760</td><td style="border: 0px solid; text-align: right"> 425.663</td></tr><tr><td style="border: 0px solid">Total depreciation and write-downs</td><td style="border: 0px solid; text-align: right"> 386.760</td><td style="border: 0px solid; text-align: right"> 425.663</td></tr></tbody></table> <p></p><p style="font-weight: bold;">Specification of investments in group companies <br />BHGK Catering ApS, Blåvand, ownership 100%</p> <p></p><p style="font-weight: bold;">DKK 2.125.926 of long-term debt are due after 5 years.</p> <p></p><p style="font-weight: bold;">The company's main activity is to own and operate a golf course along with related activity.</p> <p></p><p style="font-weight: bold;">The company has not made any pledges or security.</p><p> As security for the mortgage loans, large DKK 2.971.064, land and buildings with a carrying amount of DKK 4.088.305 has been mortgaged.</p><p></p> <p></p><p style="font-weight: bold;">The company is jointly and severally liable for all group companies for the total tax on joint taxation income and for certain possible withholding taxes, such as dividends and royalties.</p><p> The organisation has expressed that it wishes to provide liquidity to its subsidiaries, only for the necessary functions for continued operations. The statement is given to the next financial reporting period.</p>