xbrli:pureiso4217:DKK355234722022-01-012022-12-31355234722022-01-012022-12-311355234722022-01-012022-12-311355234722022-01-012022-12-311355234722022-01-012022-12-312355234722022-01-012022-12-313355234722022-01-012022-12-314355234722022-01-012022-12-315355234722022-01-012022-12-31355234722021-01-012021-12-31355234722022-01-012022-12-31fsa:RetainedEarningsMember355234722021-01-012021-12-31fsa:RetainedEarningsMember355234722022-01-012022-12-31fsa:RetainedEarningsMember355234722022-12-31355234722021-12-31355234722022-01-01fsa:ContributedCapitalMember355234722022-01-01fsa:ReserveForDevelopmentExpenditureMember355234722022-01-01fsa:RetainedEarningsMember355234722022-01-01355234722022-12-31fsa:ContributedCapitalMember355234722022-12-31fsa:ReserveForDevelopmentExpenditureMember355234722022-12-31fsa:RetainedEarningsMember355234722022-01-012022-12-31fsa:ReserveForDevelopmentExpenditureMemberGrundlag for konklusionKonklusion2023-03-21true339635562021-01-012021-12-31Aalborg900026, 4. salØstre HavnepromenadeDeloitte Statsautoriseret RevisionspartnerselskabKøbenhavnKøbenhavn S2300Regnskabsklasse BErklæring om udvidet gennemgang2022-12-312022-01-016<br /><br />55Ørestads BoulevardBellmetric ApS35523472339635562300 København SWeidekampsgade 6Deloitte Statsautoriseret RevisionspartnerselskabÅrsrapportThe Board of Directors and the Executive Board have today considered and approved the annual report of Bellmetric ApS for the financial year 01.01.2022 - 31.12.2022.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 Entity’s financial position at 31.12.2022 and of the results of its operations for the financial year 01.01.2022 - 31.12.2022.We believe that the management commentary contains a fair review of the affairs and conditions referred to therein.We recommend the annual report for adoption at the Annual General Meeting.KøbenhavnMads Emil Holmer Gellert LarsenSøren Jessen NielsenJanus Johannes LindauThomas Wind BøglundJesper Vesten DrescherKathrine Stampe AndersenTo the shareholders of Bellmetric ApSWe have performed an extended review of the financial statements of Bellmetric ApS for the ​financial year 01.01.2022 - 31.12.2022, which comprise the income statement, balance sheet, statement of changes in equity and notes, including a summary of significant accounting policies. The financial statements are prepared in accordance with the Danish Financial Statements Act. ​Based on our extended review, in our opinion, the financial statements give a true and fair view of the Entity’s ​financial position at 31.12.2022 and of the results of its operations for the financial year 01.01.2022 - 31.12.2022 in accordance with the Danish Financial Statements Act.We conducted our extended review in accordance with the assurance engagement standard for small enterprises as issued by the Danish Business Authority and the standard on extended review of financial statements prepared in accordance with the Danish Financial Statements Act as issued by FSR - Danish Auditors. Our responsibilities under those standards and requirements are further described in the ”Auditor’s responsibilities for the extended review of the financial statements” section. We are independent of the Entity in accordance with the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our conclusion.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. In preparing the financial statements, Management is responsible for assessing the Entity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern, and using the going concern basis of accounting unless Management either intends to liquidate the Entity or to cease operations, or has no realistic alternative but to do so.Our responsibility is to express a conclusion on the financial statements. This requires that we plan and perform procedures to obtain limited assurance about our conclusion on the financial statements and that we also perform specifically required supplementary procedures for the purpose of obtaining additional assurance about our conclusion. An extended review consists of making inquiries, primarily of Management and, if appropriate, of other entity personnel, performing analytical and the specifically required supplementary procedures as well as evaluating the evidence obtained. The procedures performed in an extended review are less in scope than in an audit, and accordingly we do not express an audit opinion on the financial statements.Management is responsible for the management commentary. Our conclusion on the financial statements does not cover the management commentary, and we do not express any form of assurance conclusion thereon. In connection with our extended review of the financial statements our responsibility is to read the management commentary and, in doing so, consider whether the management commentary is materially inconsistent with the financial statements or our knowledge obtained in the extended review or otherwise appears to be materially misstated. Moreover, it is our responsibility to consider whether the management commentary provides the information required under the Danish Financial Statements Act.<br />Based on the work we have performed, we conclude that the management commentary is in accordance with financial statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not identify any material misstatement of the management commentary.Aalborg2023-03-31Sami Nikolai El-Galalymne42793State Authorised Public AccountantPrimary activitiesThe company's main purpose is to develop IT products and services, which aim to improve sales and increase customer satisfaction amongst their customers.Description of material changes in activities and financesProfit/loss for the year shows a negative result of -1,810,671 DKK and an equity of 508,549 DKK, which is considered ​unsatisfactory. ​ For the financial position as of 31.12.2022 and the financial development reference is made to the annual report.Uncertainty relating to recognition and measurementDeferred tax assets comprises of tax loss due to later offsetting in taxable income. It is management assesment that the asset will be utilized in the 2023 taxable income and thus it is recognized as a asset in the financial statement. The asset is however based on a budget which contains a change in strategy for the entity approved by management, thus the asset is based on a meterial judgement and related to incertaincies. 661202666805597435874795720314089641037838-2232812-2314482364420435196503167513-2425671-2461560-615000-622700-1810671-1838860-1810671-1838860-1810671376099537916880037609953791688670381257966703812579620662718000020662718000040346604097484252498623365835690000697135117931218821424513222839599082718608557177785083694670860591183541080608911149611149629335762957517-2536523-74979350854923192201114962957517-74979323192201114962933576-2536523046000046000274630126068803352153302613081516293714107574422440237250033938074713176786149929632314663068715528289550372886098058440869911835410806089-239412394101 Staff costs2022 DKK2021 DKKWages and salaries7,052,0287,539,337Other social security costs134,98598,607Other staff costs248,861319,2597,435,8747,957,203Average number of full-time employees151715172 Depreciation, amortisation and impairment losses2022 DKK2021 DKKAmortisation of intangible assets1,350,206990,507Depreciation of property, plant and equipment58,75847,3311,408,9641,037,8383 Tax on profit/loss for the year2022 DKK2021 DKKChange in deferred tax(615,000)(622,700)(615,000)(622,700)4 Intangible assetsCompleted development projects DKKGoodwill DKKCost beginning of year6,188,628429,860Additions1,319,5130Cost end of year7,508,141429,860Amortisation and impairment losses beginning of year(2,396,940)(429,860)Amortisation for the year(1,350,206)0Amortisation and impairment losses end of year(3,747,146)(429,860)Carrying amount end of year3,760,99505 Development projectsDevelopment costs relates to development of the company's software solutions, which are sold to customers on subscription. Prior to starting the projects, the company has inquired regarding its customers about specifics development needs. The projects have been completed and future demand for the company's software solutions is expected . 6 Property, plant and equipmentOther fixtures and fittings, tools and equipment DKKCost beginning of year236,910Cost end of year236,910Depreciation and impairment losses beginning of year(111,114)Depreciation for the year(58,758)Depreciation and impairment losses end of year(169,872)Carrying amount end of year67,0387 Financial assetsDeposits DKKCost beginning of year180,000Additions26,627Cost end of year206,627Carrying amount end of year206,6278 Deferred tax​Deferred tax assetsDeferred tax assets comprises of tax loss due to later offsetting in taxable income. It is management assesment that the asset will be utilized in the 2023 taxable income and thus it is recognized as a asset in the financial statement. The asset is however based on a budget which contains a change in strategy for the entity approved by management, thus the asset is based on a meterial judgement and related to incertaincies. 9 Non-current liabilities other than provisionsDue after more than 12 months 2022 DKKOutstanding after 5 years 2022 DKKDebt to other credit institutions2,746,301228,191Other payables335,215335,2153,081,516563,40610 Unrecognised rental and lease commitments2022 DKK2021 DKKLiabilities under rental or lease agreements until maturity in total285,705612,057This annual report has been presented in accordance with the provisions of the Danish Financial Statements Act governing reporting class B enterprises with addition of a few provisions for reporting class C.The accounting policies applied to these financial statements are consistent with those applied last year.falseRecognition and measurementAssets 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 Entity, and the value of the asset can be measured reliably. Liabilities are recognised in the balance sheet when the Entity 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 Entity, and the value of the liability can be measured reliably. 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. 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. Income is recognised in the income statement when earned, whereas costs are recognised by the amounts attributable to this financial year.Foreign currency translationOn initial recognition, foreign currency transactions are translated applying the exchange rate at the transaction date. Receivables, payables and other monetary items denominated in foreign currencies that have not been settled at the balance sheet date are translated using the exchange rate at the balance sheet date. Exchange differences that arise between the rate at the transaction date and the rate in effect at the payment date, or the rate at the balance sheet date, are recognised in the income statement as financial income or financial expenses. Property, plant and equipment, intangible assets, inventories and other non-monetary assets that have been purchased in foreign currencies are translated using historical rates.Gross profit or lossGross profit or loss comprises revenue, other operating income and external expenses.RevenueRevenue from the sale of services is recognised in the income statement when delivery is made to the buyer. Revenue is recognised net of VAT, duties and sales discounts and is measured at fair value of the consideration fixed.Own work capitalisedOwn work capitalised comprises staff costs incurred in the financial year and recognised in cost for proprietary intangible assets.Other operating incomeOther operating income comprises income of a secondary nature as viewed in relation to the Entity’s primary activities.Other external expensesOther external expenses include expenses relating to the Entity’s ordinary activities, including expenses for premises, stationery and office supplies, marketing costs, etc. This item also includes writedowns of receivables recognised in current assets.Staff costsStaff costs comprise salaries and wages, and social security contributions, pension contributions, etc . for entity staff.Depreciation, amortisation and impairment lossesDepreciation, amortisation and impairment losses relating to property, plant and equipment and intangible assets comprise depreciation, amortisation and impairment losses for the financial year, and gains and losses from the sale of intangible assets and property, plant and equipment.Other financial incomeOther financial income comprises interest income, net capital or exchange gains on securities, payables and transactions in foreign currencies, amortisation of financial assets, and tax relief under the Danish Tax Prepayment Scheme etc.Other financial expensesOther financial expenses comprise interest expenses, net capital or exchange losses on securities, payables and transactions in foreign currencies, amortisation of financial liabilities, and tax surcharge under the Danish Tax Prepayment Scheme etc.Tax on profit/loss for the yearTax 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 for the year and recognised directly in equity by the portion attributable to entries directly in equity.GoodwillGoodwill is calculated as the difference between cost of investments and fair value of the pro rata share of assets and liabilities acquired. Goodwill is amortised straight-line over its estimated useful life, which is fixed based on the experience gained by Management for each business area. Useful lives are reassessed annually. The amortisation periods used are 5 years. Goodwill is written down to the lower of recoverable amount and carrying amount.<br />Intellectual property rights etc.Intellectual property rights etc. comprise development projects completed.Development projects on clearly defined and identifiable products and processes, for which the technical rate of utilisation, adequate resources and a potential future market or development opportunity in the enterprise can be established, and where the intention is to manufacture, market or apply the product or process in question, are recognised as intangible assets. Other development costs are recognised as costs in the income statement as incurred. When recognising development projects as intangible assets, an amount equalling the costs incurred less deferred tax is taken to equity in the reserve for development costs that is reduced as the development projects are amortised and written down. ​ ​The cost of development projects comprises costs such as salaries and amortisation that are directly and indirectly attributable to the development projects. ​ ​Indirect production costs in the form of indirectly attributable staff costs and amortisation of intangible assets and depreciation of property, plant and equipment used in the development process are recognised in cost based on time spent on each project. ​Completed development projects are amortised on a straight-line basis using their estimated useful lives which are determined based on a specific assessment of each development project. If the useful life cannot be estimated reliably, it is fixed at 10 years. For development projects protected by intellectual property rights, the maximum period of amortisation is the remaining duration of the relevant rights. The amortisation periods used are 5 years. ​ ​Intellectual property rights etc. are written down to the lower of recoverable amount and carrying amount.Property, plant and equipmentOther fixtures and fittings, tools and equipment are measured at cost less accumulated depreciation and impairment losses. Cost comprises the acquisition price, costs directly attributable to the acquisition and preparation costs of the asset until the time when it is ready to be put into operation. The basis of depreciation is cost less 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:Useful life Other fixtures and fittings, tools and equipment3 yearsEstimated useful lives and residual values are reassessed annually. Items of property, plant and equipment are written down to the lower of recoverable amount and carrying amount.ReceivablesReceivables are measured at amortised cost, usually equalling nominal value less writedowns for bad and doubtful debts.Deferred taxDeferred tax is recognised on all temporary differences between the carrying amount and the tax-based value of assets and liabilities, for which the tax-based value is calculated based on the planned use of each asset. 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.PrepaymentsPrepayments comprise incurred costs relating to subsequent financial years. Prepayments are measured at cost.CashCash comprises cash in hand and bank deposits.Operating leasesLease payments on operating leases are recognised on a straight-line basis in the income statement over the term of the lease.Other financial liabilitiesOther financial liabilities are measured at amortised cost, which usually corresponds to nominal value.Prepayments received from customersPrepayments received from customers comprise amounts received from customers prior to delivery of the goods agreed or completion of the service agreed.Deferred incomeDeferred income comprises income received for recognition in subsequent financial years. Deferred income is measured at cost.2023-04-25Mads-Emil Gellert Larsen