Lind Capital Annual Report 2021 - Flipbook - Side 40
CURRENT ASSET INVESTMENTS
Current asset investments that consist of listed bonds
and shares are measured at their fair values at the balance sheet date. Fair value is determined on the basis
of the latest quoted market price.
The value statement of the company’s corporate bonds
is associated with some uncertainty. This is due to the
fact that they are traded on a less liquid market. The
corporate bonds are included at fair value. The fair value is based on the latest closing prices or order price.
The order price is based on the latest closing market
prices or order price. The order price is based on a prudence concept and is based on the average order price
in the market.
Dividend distribution proposed by management for the
year is disclosed as a separate equity item.
DEFERRED TAX ASSETS AND LIABILITIES
Deferred tax assets are measured using the balance
sheet liability method in respect of temporary differences arising between the tax values of assets and liabilities and their carrying amounts for financial reporting
purposes on the basis of the intended use of the asset
and settlement of the liability, respectively.
Deferred tax assets, including the tax value of tax loss
Deferred tax is measured on the basis of the tax rules
and tax rates that will be effective under the legislati-
FAIR VALUE OF FINANCIAL INSTRUMENTS
on at the balance sheet date when the deferred tax is
expected to crystallise as current tax. Any changes in
The fair value of financial instruments is initially recog-
deferred tax due to changes to tax rates are recognised
nised in the balance sheet at cost and is subsequent-
in the income statement.
ly re-measured at fair value. Positive and negative fair
CURRENT TAX RECEIVABLES AND
values of derivative financial instruments are classified
as “fair value of financial instruments”. Obligations with
reference to “short sale“ are included as negative fair
value of derivative financial instruments.
Current tax liabilities and receivables are recognised in
thebalance sheet as tax calculated on the taxable in-
come for the year adjusted for tax on taxable incomes
for prior years and tax paid on account. Surcharges and
Key figures and financial ratios are defined and calcula-
refunds under the on-account taxation scheme are re-
ted in accordance with “Recommendations & Financial
cognised in the income statement in financial income
Ratios 2010” issued by the Danish Society of Financial
Return on equity (%)
Other debts are measured at amortised cost, substan-
Net profit x 100
tially corresponding to nominal value.
Return on assets (%)
Net profit before financial items x 100
Equity x 100
Futhermore, trading activity is measured as gross value
from sale of CFDs, futures, and securities, etc.
carry forwards, are measured at the value at which the
asset is expected to be realised either by elimination in
tax on future earnings or by set-off against deferred tax
liabilities within the same legal tax entity.
LIND CAPITAL ANNUAL REPORT 2021