Lind Capital Annual Report 2021 - Flipbook - Side 39
BASIS OF PREPARATION
The annual report of Lind Capital A/S for 2021 has been
prepared in accordance with the provisions of the Danish Financial Statements Act applying to enterprises
of reporting class C average.
The annual report for 2021 is presented in DKK ’000.
In accordance with the provisions of the Danish Financial Statements Act, § 86, 4, the company does not prepare cash flow statement. The company’s cash flow is
included in the cash flow statement in the consolidated
accounts of Lind Invest ApS, CVR-no. 26559243.
Effective from the financial year 2020, the Company
has implemented amending act no. 1716 of 27 December 2018 to the Danish Financial Statements Act. The
implementation of the amending act has not affected
the Company’s accounting policies on recognition and
measurement of assets and liabilities but has solely entailed new and amended presentation and disclosure
requirements. The accounting policies used in the preparation of the financial statements are consistent with
those of last year.
RECOGNITION AND MEASUREMENT
Revenues are recognised in the income statement as
earned. Furthermore, value adjustments of financial assets and liabilities measured at fair value or amortised
cost are recognised. 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
Assets are recognised in the balance sheet when it is
probable that future economic benefits attributable to
the asset will flow to the company, and the value of the
Liabilities are recognised in the balance sheet when it is
probable that future economic benefits will flow out of
the company, and the value of the liability can be measured reliably. Assets and liabilities are initially measured at cost. Subsequently, assets and liabilities are
measured as described for each item below.
Transactions in foreign currencies are translated at the
exchange rates at the dates of transaction. Gains and
losses arising due to differences between the transaction date rates and the rates of the dates of payment
are recognised in financial income and expenses in the
Receivables, payables, and other monetary items in
foreign currencies that have not been settled at the balance sheet date are translated at the exchange rates
at the balance sheet date. Any differences between the
exchange rate at the balance sheet date and the transaction date rate are recognised in financial income and
expenses in the income statement.
Changes in fair values of derivative financial instruments are recognised in the income statement unless
the derivative financial instrument is designated and
qualifies for hedge accounting.
The trading income contains the purchase and sale of
financial instruments, unrealised gains and losses on
financial instruments, dividends received, payment
in lieu of dividends of short sale, interest expenses of
short sale as well as fees and commissions, etc.
OTHER EXTERNAL COSTS
Other external costs comprise costs for premises, sales, and distributions as well as office expenses, etc.
Staff expenses comprise wages and salaries as well as
IMPAIRMENT LOSSES AND DEPRECIATIONS
Impairment losses and depreciation comprise impairment losses and depreciation of property, plant, and
FINANCIAL INCOME AND EXPENSES
Financial income and expenses are recognised in the
income statement at the amounts relating to the financial year.
TAX ON PROFIT/LOSS FOR THE YEAR
Tax on profit/loss for the year consists of current tax
for the year and deferred tax for the year. The tax attributable to the profit for the year is recognised in the income statement whereas the tax attributable to equity
transactions is recognised directly in equity.
The company is jointly taxed with Danish group enterprises. The Danish corporation tax is divided between
the jointly taxed Danish companies in proportion to
their taxable incomes.
PROPERTY, PLANT, AND EQUIPMENT
ted impairment losses.
Cost comprises the cost of acquisition and expenses directly related to the acquisition up until the time when
the asset is ready for use.
Depreciation based on cost reduced by any residual value is calculated on a straight-line basis over the expected useful lives of the assets, which are:
Other fixtures and fittings, tools, and equipment:
IMPAIRMENT OF NON-CURRENT ASSETS
The carrying amount of property, plant, and equipment
is reviewed on an annual basis to determine whether
there is any indication of impairment other than that
expressed by depreciation.
If so, the asset is written down to its lower recoverable
amount. The recoverable amount for the asset is calculated as the highest value of the net sales price and capital value.
Receivables are measured in the balance sheet at amortised cost, which substantially corresponds to nominal
Receivables are written down to net realizable value to
meet the expected loss amount.
Prepayments comprise prepaid expenses and are measured at cost.
Property, plant, and equipment are measured at cost
less accumulated depreciation and less any accumula
asset can be measured reliably.
LIND CAPITAL ANNUAL REPORT 2021