34888981 2021-07-01 2022-06-30 34888981 2021-07-01 2022-06-30 34888981 2021-07-01 2022-06-30 34888981 2021-07-01 2022-06-30 34888981 2021-07-01 2022-06-30 1 34888981 2020-07-01 2021-06-30 34888981 2021-07-01 2022-06-30 fsa:RetainedEarningsMember 34888981 2020-07-01 2021-06-30 fsa:RetainedEarningsMember 34888981 2022-06-30 34888981 2021-06-30 34888981 2021-07-01 2022-06-30 34888981 2020-07-01 2021-06-30 34888981 2021-07-01 2022-06-30 iso4217:DKK xbrli:pure Årsrapport 2022-12-29 Allan Dyhr Hammershøj 34888981 Regnskabsklasse B 33883889 XBRL Takeoff ApS Ole Larsensvej 1 2670 Greve Revisionspåtegning Greve 2022-12-29 2021-07-01 2022-06-30 2020-07-01 2021-06-30 Mediathand ApS Frederikskaj 12 2450 Copenhagen SV <p xmlns="http://www.w3.org/1999/xhtml">Statement by Management on the annual report</p> <p xmlns="http://www.w3.org/1999/xhtml">We have today presented the annual report of Mediathand ApS for the financial year 1 July 2021 to 30 June 2022.</p> <p xmlns="http://www.w3.org/1999/xhtml">The annual report is presented in accordance with the Danish Financial Statements Act.</p> <p xmlns="http://www.w3.org/1999/xhtml">In our opinion, the financial statements give a true and fair view of the Company’s financial position and results. Also, we believe that the management commentary contains a fair review of the affairs and conditions referred to therein.</p> <p xmlns="http://www.w3.org/1999/xhtml">It is recommended at the general meeting that the annual report for 2022/2023 should not be revised. The Board of Directors and the Executive Management consider that the conditions for opting out of auditing have been met.</p> <p xmlns="http://www.w3.org/1999/xhtml">We recommend the annual report for adoption at the Annual General Meeting.</p> Gert Skov Petersen Allan Dyhr Hammershøj <p xmlns="http://www.w3.org/1999/xhtml">Opinion </p> <p xmlns="http://www.w3.org/1999/xhtml">We have audited the Financial Statements of Mediathand ApS for the financial year 1 July 2021 - 30 June 2022, which comprise income statement, balance sheet and notes, including a summary of significant accounting policies, for the Company. The Financial Statements are prepared in accordance with the Danish Financial Statements Act. </p> <p xmlns="http://www.w3.org/1999/xhtml">In our opinion, the Financial Statements give a true and fair view of the Company’s financial position at 30 June 2022 and of the results of the Company’s operations for the financial year 1 July 2021 - 30 June 2022 in accordance with the Danish Financial Statements Act.</p> <p xmlns="http://www.w3.org/1999/xhtml">Basis for Opinion </p> <p xmlns="http://www.w3.org/1999/xhtml">We conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the “Auditor’s Responsibilities for the Audit 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 audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. </p> <p xmlns="http://www.w3.org/1999/xhtml">Management’s Responsibilities for the Financial Statements </p> <p xmlns="http://www.w3.org/1999/xhtml">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 Financial Statements that are free from material misstatement, whether due to fraud or error. </p> <p xmlns="http://www.w3.org/1999/xhtml">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 xmlns="http://www.w3.org/1999/xhtml">Auditor’s Responsibilities for the Audit of the Financial Statements </p> <p xmlns="http://www.w3.org/1999/xhtml">Our objectives are to obtain reasonable assurance about whether the Financial Statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users of accounting information taken on the basis of these Financial Statements. </p> <p xmlns="http://www.w3.org/1999/xhtml">As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:</p> <p xmlns="http://www.w3.org/1999/xhtml">Identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.</p> <p xmlns="http://www.w3.org/1999/xhtml">Obtain an understanding of internal control relevant to the audit 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. </p> <p xmlns="http://www.w3.org/1999/xhtml">Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management. </p> <p xmlns="http://www.w3.org/1999/xhtml">Conclude on the appropriateness of Management’s use of the going concern basis of accounting in preparing the Financial Statements and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the Financial Statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to continue as a going concern.</p> <p xmlns="http://www.w3.org/1999/xhtml">Evaluate the overall presentation, structure and contents of the Financial Statements, including the disclosures, and whether the Financial Statements represent the underlying transactions and events in a manner that gives a true and fair view. </p> <p xmlns="http://www.w3.org/1999/xhtml">We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. </p> <p xmlns="http://www.w3.org/1999/xhtml">Statement on Management’s Review</p> <p xmlns="http://www.w3.org/1999/xhtml">Management is responsible for Management’s Review. </p> <p xmlns="http://www.w3.org/1999/xhtml">T. Rasmussen Revision</p> <p xmlns="http://www.w3.org/1999/xhtml">Statsautoriseret Revisionsanpartsselskab</p> 32942490 Tom Rasmussen State Authorized Public Acountant mne10032 <p xmlns="http://www.w3.org/1999/xhtml">Our opinion on the Financial Statements does not cover Management’s Review, and we do not express any form of assurance conclusion thereon. </p> <p xmlns="http://www.w3.org/1999/xhtml">In connection with our audit of the Financial Statements, our responsibility is to read Management’s Review and, in doing so, consider whether Management’s Review is materially inconsistent with the Financial Statements or our knowledge obtained during the audit, or otherwise appears to be materially misstated.</p> <p xmlns="http://www.w3.org/1999/xhtml">Moreover, it is our responsibility to consider whether Management’s Review provides the information required under the Danish Financial Statements Act. </p> <p xmlns="http://www.w3.org/1999/xhtml">Based on the work we have performed, we conclude that Management’s Review is in accordance with the Financial Statements and has been prepared in accordance with the requirements of the Danish Financial Statement Act. We did not identify any material misstatement of Management’s Review.</p> <p xmlns="http://www.w3.org/1999/xhtml">Management commentary</p> <p xmlns="http://www.w3.org/1999/xhtml">Main activitie</p> <p xmlns="http://www.w3.org/1999/xhtml">The company's main activity is development and sale of a modular end-to-end live-on-demand streaming and distribution technology services to global broadcast-, streaming, and network operators. </p> <p xmlns="http://www.w3.org/1999/xhtml">Development in activities and finances</p> <p xmlns="http://www.w3.org/1999/xhtml">Loss amounts to DKK 1.233.824 after tax, which is as expected, given the very high activity level in technical R&D, market and the company’s current business development.</p> <p xmlns="http://www.w3.org/1999/xhtml">The company's balance sheet shows a total asset base of DKK 1.538.495, an equity of DKK 1.181.826 and cash in the bank of DKK 1.201.031.</p> <p xmlns="http://www.w3.org/1999/xhtml">The company continued investing in prototypes, supporting systems, services and to develop market activities in especially USA with local partners. </p> <p xmlns="http://www.w3.org/1999/xhtml">Most of the business outreach was online during the period, but in the end of the period Covid-19 restrictions was eased and the company was represented at the major US industry tradeshow NAB 2022 and received with good customer feedback. </p> <p xmlns="http://www.w3.org/1999/xhtml">The COVID-19 continued to infect revenue generating customer activities, delaying- and temporary shutdown customer projects with a minor but negative impact on customer revenue opportunities. Though we expect more projects will start up in the Q1-2023.</p> <p xmlns="http://www.w3.org/1999/xhtml">The Company has demonstrated continuous progress in the development of new technology solutions and services, with good feedback from the market and the business expectations for the financial year 2022/23 are more positive than it was for this period. </p> <p xmlns="http://www.w3.org/1999/xhtml">Customer negotiations and contracts are in process before and after the balance sheet closing date, which is expected to have a positive impact on the business and next year’s turnover and financial result.</p> <p xmlns="http://www.w3.org/1999/xhtml">Special circumstances of the financial year 2021/22</p> <p xmlns="http://www.w3.org/1999/xhtml">No special circumstances.</p> <p xmlns="http://www.w3.org/1999/xhtml">Events after the balance sheet date </p> <p xmlns="http://www.w3.org/1999/xhtml">The company are continuously reversing its scope and optimizing resources allocated to various innovative research & development and business activities and management expect to narrow the scope of business activities to balance all future company resources.</p> <p xmlns="http://www.w3.org/1999/xhtml">Accounting policies</p> <p xmlns="http://www.w3.org/1999/xhtml">The financial statements have been prepared in accordance with the provisions of the Danish Financial Statements Act for accounting class B with the option of individual rules from accounting class C.</p> <p xmlns="http://www.w3.org/1999/xhtml">The financial statements have been presented applying the accounting policies consistently with last year.</p> <p xmlns="http://www.w3.org/1999/xhtml">Recognition and measurement </p> <p xmlns="http://www.w3.org/1999/xhtml">Assets are recognised in the balance sheet when it is probable as a result of a prior event that future economic benefits will flow to the Company, and the value of the asset can be measured reliably.</p> <p xmlns="http://www.w3.org/1999/xhtml">Liabilities are recognised in the balance sheet when the Company has a legal or constructive obligation as a result of a prior event, and it is probable that future economic benefits will flow out of the Company, and the value of the liability can be measured reliably.</p> <p xmlns="http://www.w3.org/1999/xhtml">On initial recognition, assets and liabilities are measured at cost. Measurement subsequent to initial recognition is effected as described below for each financial statement item. </p> <p xmlns="http://www.w3.org/1999/xhtml">Anticipated risks and losses 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 xmlns="http://www.w3.org/1999/xhtml">Income is recognised in the income statement when earned, whereas costs are recognised by the amounts attributable to this financial year. </p> <p xmlns="http://www.w3.org/1999/xhtml">Income statement </p> <p xmlns="http://www.w3.org/1999/xhtml">Revenue</p> <p xmlns="http://www.w3.org/1999/xhtml">Revenue from the sale of manufactured goods and goods for resale is recognised in the income statement when delivery is made and risk has passed to the buyer. Revenue is recognised net of VAT, duties and sales discounts. </p> <p xmlns="http://www.w3.org/1999/xhtml">Other operating income and operating expenses </p> <p xmlns="http://www.w3.org/1999/xhtml">Other operating income and expenses comprise income and expenses of a secondary nature as viewed in relation to the Company’s primary activities.</p> <p xmlns="http://www.w3.org/1999/xhtml">Other external expenses</p> <p xmlns="http://www.w3.org/1999/xhtml">Other external expenses comprise expenses for distribution, sale, marketing, administration, premises, bad debts, etc.</p> <p xmlns="http://www.w3.org/1999/xhtml">Staff costs </p> <p xmlns="http://www.w3.org/1999/xhtml">Staff costs comprise salaries and wages as well as social security costs, pension contributions, etc for the Company’s staff.</p> <p xmlns="http://www.w3.org/1999/xhtml">Financial income and expenses</p> <p xmlns="http://www.w3.org/1999/xhtml">These items comprise interest income and interest expenses, the interest portion of finance lease payments, realised and unrealised capital gains and losses on securities and transactions in foreign currencies, amortisation premium or allowance on mortgage debt etc as well as tax surcharge and relief under the Danish Tax Prepayment Scheme.</p> <p xmlns="http://www.w3.org/1999/xhtml">Interest expenses and other financial expenses for manufacturing assets are not included in the cost of assets, but are recognised in the income statement as incurred.</p> <p xmlns="http://www.w3.org/1999/xhtml">Income taxes </p> <p xmlns="http://www.w3.org/1999/xhtml">Tax for the year, which consists of current tax for the year and changes in deferred tax, is recognised in the income statement by the portion attributable to the profit/loss for the year and recognised directly in equity by the portion attributable to entries directly in equity. </p> <p xmlns="http://www.w3.org/1999/xhtml">The current tax payable or receivable is recognised in the balance sheet, stated as tax calculated on this year’s taxable income, adjusted for prepaid tax.</p> <p xmlns="http://www.w3.org/1999/xhtml">Deferred tax is recognised on all temporary differences between the carrying amount and tax-based value of assets and liabilities.</p> <p xmlns="http://www.w3.org/1999/xhtml">Deferred tax assets, including the tax base of tax loss carryforwards, are recognised in the balance sheet at their estimated realisable value, either as a set-off against deferred tax liabilities or as net tax assets. </p> <table xmlns="http://www.w3.org/1999/xhtml"> <tr><td>Balance sheet</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> <tr><td>Intangible assets </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> <tr><td>Patents acquired are measured at cost less accumulated amortisation and impairment losses. The amortisation period for patents exceeds five years, as the patents are amortised over their remaining duration which normally represents 5 years. </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> <tr><td>Patents are written down to the lower of recoverable amount and carrying amount.</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> <tr><td>Costs for development of new products are recognised in the income statement as incurred.</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> <tr><td>Equipment</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> <tr><td>Fixtures and fittings, tools and equipment are measured at cost less accumulated depreciation and impairment losses.</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> <tr><td>Cost comprises the acquisition price, costs directly attributable to the acquisition and preparation costs of the asset until the time when the asset is ready to be put into operation.</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> <tr><td>The basis of depreciation is cost plus revaluation and minus estimated residual value after the end of useful life. Straight-line depreciation is made on the basis of the following estimated useful lives of the assets:</td><td> </td><td>Investments in subsidiaries are measured at the lower of cost and recoverable amount</td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> <tr><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td>Years</td></tr> <tr><td>Other fixtures and fittings, tools and equipment </td><td> </td><td> </td><td> </td><td>3-5</td><td> </td><td> </td><td> </td></tr> <tr><td>Equipment are written down to the lower of recoverable amount and carrying amount.</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> <tr><td>Investments in subsidiaries</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> <tr><td>Investments in subsidiaries are measured at the lower of cost and recoverable amount.</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> <tr><td>Receivables </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> <tr><td>Receivables are measured at amortised cost usually equalling nominal value less provisions for bad debts.</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> <tr><td>Other financial liabilities</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> <tr><td>Other financial liabilities are measured at amortised cost which usually corresponds to nominal value.</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> </table> 826500 2271149 1793907 2018290 -233225 54114 -1200632 306973 -33192 -27503 0 0 -1233824 279470 -1233824 279470 85430 97742 85430 97742 0 2739 0 2739 85430 100481 145938 860901 26829 94658 252034 1237846 1201031 2505344 1453065 3743190 1538495 3843671 200000 200000 981826 2215650 1181826 2415650 51332 246590 0 0 305337 1181431 356669 1428021 1538495 3843671 0 0 0 0 0 79267 282287 <table xmlns="http://www.w3.org/1999/xhtml"> <tr><td>Staff costs</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> <tr><td>Salaries and wages</td><td> </td><td> </td><td> </td><td> </td><td style="text-align: right">1763151,07</td><td> </td><td style="text-align: right">1987534,08</td></tr> <tr><td>Other social security costs</td><td> </td><td> </td><td> </td><td> </td><td style="text-align: right">30756</td><td> </td><td style="text-align: right">30756</td></tr> <tr><td> </td><td> </td><td> </td><td> </td><td> </td><td style="text-align: right">1793907,07</td><td> </td><td style="text-align: right">2018290,08</td></tr> </table> <table xmlns="http://www.w3.org/1999/xhtml"> <tr><td>Depreciation, amortisation and impairment losses</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> <tr><td>Acquired patents</td><td> </td><td> </td><td> </td><td> </td><td style="text-align: right">0</td><td> </td><td style="text-align: right">0</td></tr> <tr><td>Other fixtures and fittings, tools and equipment</td><td style="text-align: right">-30205</td><td> </td><td style="text-align: right">-42944</td><td style="text-align: right">30205</td><td> </td><td> </td><td> </td></tr> <tr><td>Special Post</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> <tr><td>Write-down, Pacini Medico ApS</td><td> </td><td> </td><td style="text-align: right">-203020</td><td> </td><td style="text-align: right">0</td><td> </td><td> </td></tr> <tr><td>Reversal af write-downs, Pacini Medico ApS</td><td> </td><td> </td><td> </td><td> </td><td style="text-align: right">0</td><td> </td><td style="text-align: right">97058</td></tr> <tr><td> </td><td> </td><td> </td><td> </td><td> </td><td style="text-align: right">-233225</td><td> </td><td style="text-align: right">54114</td></tr> </table> <table xmlns="http://www.w3.org/1999/xhtml"> <tr><td>Financial expenses</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> <tr><td>Other financial expenses</td><td> </td><td> </td><td> </td><td> </td><td style="text-align: right">-33192,26</td><td> </td><td style="text-align: right">-27502,78</td></tr> <tr><td> </td><td> </td><td> </td><td> </td><td> </td><td style="text-align: right">-33192,26</td><td> </td><td style="text-align: right">-27502,78</td></tr> </table> <table xmlns="http://www.w3.org/1999/xhtml"> <tr><td>Tax on profit/loss for the year </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> <tr><td>Current tax</td><td> </td><td> </td><td> </td><td> </td><td style="text-align: right">0</td><td> </td><td style="text-align: right">0</td></tr> <tr><td>Change in deferred tax</td><td> </td><td> </td><td> </td><td> </td><td style="text-align: right">0</td><td> </td><td style="text-align: right">0</td></tr> <tr><td> </td><td> </td><td> </td><td> </td><td> </td><td style="text-align: right">0</td><td> </td><td style="text-align: right">0</td></tr> <tr><td>Deferred tax</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> <tr><td>Deferred tax is not activated</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> </table> 4 5 <p xmlns="http://www.w3.org/1999/xhtml">Assets charged and contingent liabilities etc</p> <p xmlns="http://www.w3.org/1999/xhtml">The Company has no mortgages, collateral or contingent liabilities.</p> The company is a management company and jointly taxed with Pacini Medico ApS. The company is jointly and severally liable with jointly taxed companies in the group for payment of corporate taxes of DKK 0 and withholding taxes in the joint taxation circle. <table xmlns="http://www.w3.org/1999/xhtml"> <tr><td>Related parties</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> <tr><td>Controlling influence</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> <tr><td>Mediathand Limited</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td>Ownership</td></tr> <tr><td>Innovation Center</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> <tr><td>Gallows Hill</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> <tr><td>Warwick</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> <tr><td>CV34 6UN</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> <tr><td>United Kingdon</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> <tr><td>Other related parties, etc.:</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> <tr><td>Allan Dyhr Hammershøj</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td>Director</td></tr> <tr><td>2605 Brøndby</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> <tr><td>Gert Skov Petersen</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td>Executive</td></tr> <tr><td>2860 Søborg</td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> </table>