xbrli:pureiso4217:DKK363925762022-01-012022-12-31363925762022-01-012022-12-311363925762022-01-012022-12-311363925762022-01-012022-12-311363925762022-01-012022-12-312363925762022-01-012022-12-313363925762022-01-012022-12-31363925762021-01-012021-12-31363925762022-01-012022-12-31fsa:RetainedEarningsMember363925762021-01-012021-12-31fsa:RetainedEarningsMember363925762022-01-012022-12-31fsa:RetainedEarningsMember363925762022-12-31363925762021-12-31363925762022-01-01fsa:ContributedCapitalMember363925762022-01-01fsa:ReserveForDevelopmentExpenditureMember363925762022-01-01fsa:RetainedEarningsMember363925762022-01-01363925762022-12-31fsa:ContributedCapitalMember363925762022-12-31fsa:ReserveForDevelopmentExpenditureMember363925762022-12-31fsa:RetainedEarningsMember363925762022-01-012022-12-31fsa:ContributedCapitalMember363925762022-01-012022-12-31fsa:ReserveForDevelopmentExpenditureMember363925762022-01-012022-12-31fsa:OtherShorttermPayablesMemberGrundlag for konklusionKonklusion2023-07-142023-07-14true2021-01-012021-12-3133963556København S23006WeidekampsgadeDeloitte Statsautoriseret RevisionspartnerselskabRandersRanders SV8940Regnskabsklasse BtrueRevisionspåtegning2022-12-312022-01-01<br /><br />21AlsvejPractio ApS36392576339635562300 København SWeidekampsgade 6Deloitte Statsautoriseret RevisionspartnerselskabÅrsrapportThe Board of Directors and the Executive Board have today considered and approved the annual report of Practio 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.RandersBrian RosenbergJens HeimburgerChristian ThygesenBrian RosenbergchairmanTo the shareholders of Practio ApSWe have audited the financial statements of Practio 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. ​ ​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 audit in accordance with International Standards on Auditing (ISAs) and 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 this auditor’s report. 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 audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.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, for disclosing, as applicable, matters related to going concern, and for using the going concern basis of accounting in preparing the financial statements unless Management either intends to liquidate the Entity or to cease operations, or has no realistic alternative but to do so.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 taken on the basis of these financial statements. As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgement and maintain professional scepticism throughout the audit. We also:<br />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. <br />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 Entity’s internal control. <br />Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management. <br />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 Entity’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 Entity to cease to continue as a going concern. <br />Evaluate the overall presentation, structure and content of the financial statements, including the disclosures in the notes, and whether the financial statements represent the underlying transactions and events in a manner that gives a true and fair view.<br />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.Management is responsible for the management commentary. Our opinion 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 audit 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 audit 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 the 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.The Entity has not stored the full documentation for its accounting records, which is a violation of the Danish Bookkeeping Act, for which Management may be held liable.CopenhagenHenrik Wolff Mikkelsenmne33747State Authorised Public AccountantPrimary activitiesThe Company’s primary activities are to develop software for delivery of medical services directly or indirectly, as well as to perform medical consultancy.Description of material changes in activities and financesIn 2022, the company has not had very much activity, because of the downward curve on COVID-19 . Due to the company's strong focus on COVID-19 in the previous years, the company has had a slowdown due to less COVID-19 activity. The loss for the year amounts to 5,919,172 DKK which reflects that the COVID-19 curve has been downward this year, and therefore not as much has been sold as in 2021. Unusual circumstances affecting recognition and measurementBecause of market uncertainties in Germany and the UK, Management has decided to write most off previously capitalized development costs related to these markets. The asset value is at 31th December 2022 equal to 375tDKK. The company was sold end of December 2022 to the Welfare Group Carelink A/S. Events after the balance sheet dateNo events have occurred after the balance sheet date to this date, which would influence the evaluation of this annual report. 2268089325664150824551105649345971430903229710574478200-37489351687358541468515423544392544038003-8173504164852086-225433236473503-5919172128378583-5919172128378583-591917237496017887633749601788763017098000170980221751019030704120583749602217919039162105063529220111154320138701237538134037558398811829756722212950182979422805283128672902282746231143952130971292469139523576993151493275058135736150853711130971139523514932749515085370114395229246976993153102446933333154151365853677277188373820537166131892520537166131892520867290228274623112981012981-136811774-136811774-1102766110276601 Staff costs2022 DKK2021 DKKWages and salaries24,101,76064,371,765Pension costs140,810307,998Other social security costs308,535254,83424,551,10564,934,597Average number of full-time employees21232212322 Other financial income 2022 DKK2021 DKKOther interest income11,59432,100Exchange rate adjustments3,091119,839Other financial income02,29614,685154,2353 Other financial expenses2022 DKK2021 DKKOther interest expenses725,0943,705,976Exchange rate adjustments6,90913,131Other financial expenses3,707,251318,8964,439,2544,038,003<br />2022 DKK2021 DKKOther interest expenses725,0943,705,976Exchange rate adjustments6,90913,131Other financial expenses3,707,251318,8964,439,2544,038,0034 Tax on profit/loss for the year2022 DKK2021 DKKCurrent tax036,270,325Adjustment concerning previous years(2,254,332)203,178(2,254,332)36,473,5035 Intangible assetsCompleted development projects DKKCost beginning of year36,276,074Disposals(28,286,545)Cost end of year7,989,529Amortisation and impairment losses beginning of year(34,487,311)Amortisation for the year(1,413,803)Reversal regarding disposals28,286,545Amortisation and impairment losses end of year(7,614,569)Carrying amount end of year374,9606 Development projectsIt is Management's assessment that the remaining value of completed development projects will incur a level of revenue and earnings, which will recoup the cost of development in the coming 1-2 years.7 Property, plant and equipmentOther fixtures and fittings, tools and equipment DKKLeasehold improvements DKKCost beginning of year357,85921,177Disposals(357,859)(21,177)Cost end of year00Depreciation and impairment losses beginning of year(340,759)(21,177)Depreciation for the year(17,100)0Reversal regarding disposals357,85921,177Depreciation and impairment losses end of year00Carrying amount end of year008 Financial assetsInvestments in group enterprises DKKDeposits DKKCost beginning of year221,751190,308Disposals0(190,308)Cost end of year221,7510Impairment losses for the year(221,751)0Impairment losses end of year(221,751)0Carrying amount end of year00Investments in subsidiariesRegistered inCorporate formEquity interest %Practio UK Ltd. (liquidated in 2023)Liverpool, UKLtd.100,0Practio DE GmbHBerlin, DEGmbH100,09 Other payables2022 DKK2021 DKKVAT and duties72,77111,229,191Wages and salaries, personal income taxes, social security costs, etc. payable014,643,331Holiday pay obligation0501,817Other costs payable061,999,48172,77188,373,82010 Unrecognised rental and lease commitments2022 DKK2021 DKKLiabilities under rental or lease agreements until maturity in total0251,828This 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.falseConsolidated financial statementsReferring to section 110 of the Danish Financial Statements Act, no consolidated financial statements have been prepared.Gross profit or lossGross profit or loss comprises revenue, own work capitalised, other operating income, cost of sales and external expenses.RevenueThe Company’s revenue consists of sale of vaccination services and education and training fees for pharmacies etc. Revenue from the sale of vaccination services is recognised in the income statement when the vaccination has been administered. Revenue from education and training fees is recognised in the income statement when the participants are ready to render vaccinations services. Revenue is recognised net of VAT, duties and sales discounts and is measured at fair value of the consideration fixed.Other operating incomeOther operating income comprises income of a secondary nature as viewed in relation to the Entity’s primary activities.Cost of salesCost of sales comprises goods consumed in the financial year measured at cost, adjusted for ordinary inventory writedowns.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 as well as 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, calculated on the basis of the residual values and useful lives of the individual assets and impairment testing as well as gains and losses from the sale of intangible assets as well as property, plant and equipment.Other operating expensesOther operating expenses comprise expenses of a secondary nature as viewed in relation to the Entity’s primary activities.Other financial incomeOther financial income comprises interest income, exchange gains on transactions in foreign currencies, amortisation of financial assets as well as tax relief under the Danish Tax Prepayment Scheme etc.Other financial expensesOther financial expenses comprise interest expenses, net capital or exchange losses on payables and transactions in foreign currencies, amortisation of financial liabilities as well as 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.Intellectual property rights etc.Intellectual property rights etc comprise development projects completed and in progress with related intellectual property rights, acquired intellectual property rights and prepayments for intangible assets.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 under 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 3-5 years. ​ ​Intellectual property rights etc. are written down to the lower of recoverable amount and carrying amount.Property, plant and equipmentOther fixtures and fittings as well as leasehold improvements 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 equipment3-5 yearsLeasehold improvements5 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.Investments in group enterprisesInvestments in group enterprises are measured at cost. Investments 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.PrepaymentsPrepayments comprise incurred costs relating to subsequent financial years. Prepayments are measured at cost.CashCash comprises bank deposits.Other financial liabilitiesOther financial liabilities are measured at amortised cost, which usually corresponds to nominal value.Tax receivable or payableCurrent tax receivable or payable is recognised in the balance sheet, stated as tax computed on this year's taxable income, adjusted for prepaid tax.2023-07-14Jesper Munk