27664458 2021-10-31 cmn:TwoYearsAgoMember 27664458 2020-10-31 cmn:ThreeYearsAgoMember 27664458 2019-10-31 cmn:FourYearsAgoMember 27664458 2023-10-31 27664458 2022-10-31 27664458 2022-11-01 fsa:ContributedCapitalMember 27664458 2022-11-01 fsa:RevaluationReserveMember 27664458 2022-11-01 fsa:HedgeFundMember 27664458 2022-11-01 fsa:RetainedEarningsMember 27664458 2023-10-31 fsa:ContributedCapitalMember 27664458 2023-10-31 fsa:RevaluationReserveMember 27664458 2023-10-31 fsa:HedgeFundMember 27664458 2023-10-31 fsa:RetainedEarningsMember 27664458 2023-10-31 fsa:LongtermMortgageLoansMember 27664458 2022-10-31 fsa:LongtermMortgageLoansMember 27664458 2022-11-01 2023-10-31 27664458 2022-11-01 2023-10-31 1 27664458 2022-11-01 2023-10-31 memberOfBoardIdentifier_executive_board_1 27664458 2022-11-01 2023-10-31 2 27664458 2020-11-01 2021-10-31 cmn:TwoYearsAgoMember 27664458 2019-11-01 2020-10-31 cmn:ThreeYearsAgoMember 27664458 2018-11-01 2019-10-31 cmn:FourYearsAgoMember 27664458 2021-11-01 2022-10-31 27664458 2022-11-01 2023-10-31 fsa:RetainedEarningsMember 27664458 2021-11-01 2022-10-31 fsa:RetainedEarningsMember 27664458 2022-11-01 2023-10-31 fsa:ContributedCapitalMember 27664458 2022-11-01 2023-10-31 fsa:RevaluationReserveMember 27664458 2022-11-01 2023-10-31 fsa:HedgeFundMember 27664458 2022-11-01 2023-10-31 fsa:RetainedEarningsMember iso4217:DKK pure Årsrapport 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Strandvejen 44 2900 Hellerup 2022-11-01 2021-11-01 2023-10-31 2022-10-31 27664458 Techno Ejendomme ApS Kilde Alle 4 8722 Hedensted Hedensted PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab 33771231 Herredsvej 32 7100 Vejle Denmark 79 21 27 00 Underskriv. revisors e-mail anvendes 2023-12-14 Lars Jensen Regnskabsklasse B Revisionspåtegning The Executive Board has today considered and adopted the Financial Statements of Techno Ejendomme ApS for the financial year 1 November 2022 - 31 October 2023. The Annual Report is prepared in accordance with the Danish Financial Statements Act. In my opinion the Financial Statements give a true and fair view of the financial position at 31 October 2023 of the Company and of the results of the Company operations for 2022/23. I recommend that the Financial Statements be adopted at the Annual General Meeting. 2023-12-14 Hedensted Lars Jensen CEO To the shareholder of Techno Ejendomme ApS Opinion In our opinion, the Financial Statements give a true and fair view of the financial position of the Company at 31 October 2023 and of the results of the Company´s operations for the financial year 1 November 2022 - 31 October 2023 in accordance with the Danish Financial Statements Act. We have audited the Financial Statements of Techno Ejendomme ApS for the financial year 1 November 2022 - 31 October 2023, which comprise income statement, balance sheet, statement of changes in equity and notes, including a summary of significant accounting policies (”the Financial Statements”). Basis for Opinion 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’ 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 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. 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: 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. 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. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management. 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. 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. 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. Trekantområdet 2023-12-14 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Lars Almskou Ohmeyer State Authorised Public Accountant mne24817 Heidi Bonde State Authorised Public Accountant mne42815 8758000 6621000 6325000 -757000 -856000 -227000 2614000 44000 1570000 39775000 37099000 36993000 101413000 104091000 101287000 8992000 5288000 8038000 101.1 93.5 93.6 73.1 91.2 46.2 47.4 47.1 14.0 35.4 2.8 2.3 4.1 0.9 2.2 44.6 38.4 39.2 35.6 36.5 2.2 4.2 6.8 0.1 4.3 14925300 10110657 605639 0 435195 661995 15095744 9448662 8203227 4656485 6892517 4792177 4125534 1483465 2766983 3308712 626758 741695 2140225 2567017 2140225 2567017 240000000 173016986 0 0 7769641 36309821 247769641 209326807 0 1340127 0 2420099 247769641 211746906 247769641 209326807 0 1039730 0 2379857 0 40242 5000000 5000000 82492151 58664459 -974421 -1037047 26761140 19690071 26761140 19690071 70777930 74597813 70777930 74597813 3892059 4009469 33419011 27139619 1112810 811572 5000000 5000000 23883626 18777668 110401356 81405080 660607 3917055 744728 176227 39829215 36053942 110607145 110651755 247769641 211746906 5000000 58664459 -1037047 18777668 0 -7557120 0 0 0 34350545 0 0 0 0 62626 0 0 -2965733 0 2965733 0 0 0 2140225 5000000 82492151 -974421 23883626 The Company's key activity is property investment and related activities. 1678145 274966 2447389 1208499 4125534 1483465 1112810 0 7071068 11741695 626758 741695 7557120 11000000 54328213 57945908 16449717 16651905 3892059 4009469 74669989 78607282 Payments due within 1 year are recognised in short-term debt. Other debt is recognised in long-term debt. The debt falls due for payment as specified below: Charges and security The following assets have been placed as security with mortgage credit institutes: Land and buildings with a carrying amount of 247,769,641 208,299,803 Other contingent liabilities A contractual obligation has been entered into to a value of 40,000,000 5,224,808 The group companies are jointly and severally liable for tax on the jointly taxed incomes etc of the Group. The total amount of corporation tax payable is disclosed in the Annual Report of Eltronic Group A/S, which is the management company of the joint taxation purposes. Moreover, the group companies are jointly and severally liable for Danish withholding taxes by way of dividend tax, tax on royalty payments and tax on unearned income. Any subsequent adjustments of corporation taxes and withholding taxes may increase the Company's liability. The Annual Report of Techno Ejendomme ApS for 2022/23 has been prepared in accordance with the provisions of the Danish Financial Statements Act applying to enterprises of reporting class B as well as selected rules applying to reporting class C. The accounting policies applied remain unchanged from last year. The Financial Statements for 2022/23 are presented in DKK. 1 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 statement. 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 asset can be measured reliably. 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. Derivative financial instruments are initially recognised in the balance sheet at cost and are subsequently remeasured at their fair values. Positive and negative fair values of derivative financial instruments are classified as ”Other receivables” and ”Other payables”, respectively. Changes in the fair values of derivative financial instruments are recognised in the income statement unless the derivative financial instrument is designated and qualify as hedge accounting, see below. Changes in the fair values of financial instruments that are designated and qualify as fair value hedges of a recognised asset or a recognised liability are recognised in the income statement as are any changes in the fair value of the hedged asset or the hedged liability related to the hedged risk. Changes in the fair values of derivative financial instruments that are designated and qualify as hedges of expected future transactions are recognised in the fair value reserve under equity as regards the effective portion of the hedge. The ineffective portion is recognised in the income statement. If the hedged transaction results in an asset or a liability, the amount deferred in equity is transferred from equity and recognised in the cost of the asset or the liability, respectively. If the hedged transaction results in an income or an expense, the amount deferred in equity is transferred from equity to the income statement in the period in which the hedged transaction is recognised. The amount is recognised in the same item as the hedged transaction. Changes in the fair values of financial instruments that are designated and qualify as hedges of net investments in independent foreign subsidiaries or associates are recognised directly in equity as regards the effective portion of the hedge, whereas the ineffective portion is recognised in the income statement. Huslejeindtægter indregnes lineært i lejeperioden. Rental income is recognised on a straight-line basis over the lease term. Andre eksterne omkostninger indeholder omkostninger til ejendomsdrift samt kontorhold mv. Other external expenses comprise of property management as well as office expenses, etc. Amortisation, depreciation and impairment losses comprise depreciation and impairment of property, plant and equipment. Other operating income and other operating expenses comprise items of a secondary nature to the main activities of the Company, including gains and losses on the sale of property, plant and equipment. Financial income and expenses are recognised in the income statement at the amounts relating to the financial year. Tax for the year consists of current tax for the year and changes in 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 companies. The tax effect of the joint taxation is allocated to enterprises in proportion to their taxable incomes. On acquisition land and buildings are measured at cost comprising the acquisition price and costs of acquisition. The cost of own constructed properties comprises the acquisition price and expenses directly related to the acquisition, including costs of acquisition and indirect expenses for labour, materials, components and supsuppliers up until the time when the asset is ready for use. Interest expenses on loans contracted directly for financing the construction of properties are recognised in cost over the construction period. After the initial recognition land and buildings are measured at fair value. Fair value is the amount for which the property could be exchanged between knowledgeable, willing parties in an arm's length transaction on the balance sheet date. The determination of fair value involves material accounting estimates. Management uses specialists within the property market to determine the fair value. Other property, plant and equipment are measured at cost less accumulated depreciation and less any accumulated 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 added revaluations and reduced by any residual value is calculated on a straight-line basis over the expected useful lives of the assets, which are: Buildings 30 years Other fixtures and fittings, tools and equipment 3-5 years The fixed assets’ residual values are determined at nil. Depreciation period and residual value are reassessed annually. The carrying amounts of property, plant and equipment and investments are 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. Receivables are measured in the balance sheet at the lower of amortised cost and net realisable value, which corresponds to nominal value less provisions for bad debts. Deferred income tax is measured using the balance sheet liability method in respect of temporary differences arising between the tax bases 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 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. Deferred tax is measured on the basis of the tax rules and tax rates that will be effective under the legislation at the balance sheet date when the deferred tax is expected to crystallise as current tax. Any changes in deferred tax due to changes to tax rates are recognised in the income statement or in equity if the deferred tax relates to items recognised in equity. Current tax liabilities and receivables are recognised in the balance sheet as the expected taxable income for the year adjusted for tax on taxable incomes for prior years and tax paid on account. Extra payments and repayment under the on-account taxation scheme are recognised in the income statement in financial income and expenses. Loans, such as mortgage loans and loans from credit institutions, are recognised initially at the proceeds received net of transaction expenses incurred. Subsequently, the loans are measured at amortised cost; the difference between the proceeds and the nominal value is recognised as an interest expense in the income statement over the loan period. Mortgage loans are measured at amortised cost, which for cash loans corresponds to the remaining loan. Amortised cost of debenture loans corresponds to the remaining loan calculated as the underlying cash value of the loan at the date of raising the loan adjusted for depreciation of the price adjustment of the loan made over the term of the loan at the date of raising the loan. Other debts are measured at amortised cost, substantially corresponding to nominal value. Gross margin Gross profit x 100 / Revenue Profit margin Profit/loss of ordinary primary operations x 100 / Revenue Return on assets Profit/loss of ordinary primary operations x 100 / Total assets at year end Solvency ratio Equity at year end x 100 / Total assets at year end Return on equity Net profit for the year x 100 / Average equity