10064627 2024-01-01 2024-12-31 10064627 2024-01-01 2024-12-31 0 10064627 2024-01-01 2024-12-31 0 10064627 2024-01-01 2024-12-31 1 10064627 2024-01-01 2024-12-31 2 10064627 2023-01-01 2023-12-31 10064627 2024-12-31 10064627 2023-12-31 10064627 2024-01-01 2024-12-31 0 iso4217:DKK xbrli:pure 2024-01-01 2024-12-31 2025-06-12 Jan Markus Granlund <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Management's statement</td></tr><tr><td colspan="1">Today, the Managing Director has approved the annual report of TFS Trial Form Support ApS for the</td></tr><tr><td colspan="1">financial year 1 January - 31 December 2024.</td></tr><tr><td colspan="1">The annual report has been prepared in accordance with the Danish Financial Statements Act.</td></tr><tr><td colspan="1">We consider the chosen accounting policy to be appropriate, and in my opinion, the financial statements</td></tr><tr><td colspan="1">give a true and fair view of the financial position of the Company at 31 December 2024 and of the results</td></tr><tr><td colspan="1">of the Company's operations for the financial year 1 January – 31 December 2024.</td></tr><tr><td colspan="1">Further, in my opinion, the Management's review gives a true and fair review of the matters discussed in</td></tr><tr><td colspan="1">the Management's review.</td></tr><tr><td colspan="1">We recommend that the annual report be approved at the Annual General Meeting.</td></tr></table> Søborg 2025-06-11 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Independent auditor's report</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">To the Shareholders of TFS Trial Form Support ApS</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Opinion</td></tr><tr><td colspan="1">We have audited the financial statements of TFS Trial Form Support ApS for the financial year 1 January</td></tr><tr><td colspan="1">- 31 December 2024, which comprise a summary of significant accounting policies, income statement,</td></tr><tr><td colspan="1">balance sheet, statement of changes in equity and notes, for the Company. The financial statements are</td></tr><tr><td colspan="1">prepared under the Danish Financial Statements Act.</td></tr><tr><td colspan="1">In our opinion, the financial statements give a true and fair view of the financial position of the Company</td></tr><tr><td colspan="1">at 31 December 2024, and of the results of the Company's operations for the financial year 1 January -31</td></tr><tr><td colspan="1">December 2024 in accordance with the Danish Financial Statements Act.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Basis for conclusion</td></tr><tr><td colspan="1">We conducted our audit in accordance with International Standards on Auditing (ISAs) and the</td></tr><tr><td colspan="1">additional requirements applicable in Denmark. Our responsibilities under those standards and</td></tr><tr><td colspan="1">requirements are further described in the “Auditor’s Responsibilities for the Audit of the Financial</td></tr><tr><td colspan="1">Statements” section of our report. We are independent of the Company in accordance with the</td></tr><tr><td colspan="1">International Ethics Standards Board for Accountants’ International Code of Ethics for Professional</td></tr><tr><td colspan="1">Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have</td></tr><tr><td colspan="1">fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code.</td></tr><tr><td colspan="1">We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for</td></tr><tr><td colspan="1">our opinion.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Management’s Responsibilities for the Financial Statements</td></tr><tr><td colspan="1">Management is responsible for the preparation of financial statements that give a true and fair view in</td></tr><tr><td colspan="1">accordance with the Danish Financial Statements Act, and for such internal control as Management</td></tr><tr><td colspan="1">determines is necessary to enable the preparation of financial statements that are free from material</td></tr><tr><td colspan="1">misstatement, whether due to fraud or error.</td></tr><tr><td colspan="1">In preparing the financial statements, Management is responsible for assessing the Company’s ability to</td></tr><tr><td colspan="1">continue as a going concern, disclosing, as applicable, matters related to going concern and using the</td></tr><tr><td colspan="1">going concern basis of accounting in preparing the financial statements unless Management either</td></tr><tr><td colspan="1">intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="2">Auditor’s Responsibilities for the Audit of the Financial Statements</td></tr><tr><td colspan="2">Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are</td></tr><tr><td colspan="2">free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that</td></tr><tr><td colspan="2">includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an</td></tr><tr><td colspan="2">audit conducted in accordance with ISAs and the additional requirements applicable in Denmark will</td></tr><tr><td colspan="2">always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are</td></tr><tr><td colspan="2">considered material if, individually or in the aggregate, they could reasonably be expected to influence</td></tr><tr><td colspan="2">the economic decisions of users taken on the basis of these financial statements.</td></tr><tr><td colspan="2">As part of an audit conducted in accordance with ISAs and the additional requirements applicable in</td></tr><tr><td colspan="2">Denmark, we exercise professional judgment and maintain professional skepticism throughout the audit.</td></tr><tr><td colspan="2">We also</td></tr><tr><td></td><td>Identify and assess the risks of material misstatement of the financial statements, whether due to</td></tr><tr><td /><td>fraud or error, design and perform audit procedures responsive to those risks, and obtain audit</td></tr><tr><td /><td>evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not</td></tr><tr><td /><td>detecting a material misstatement resulting from fraud is higher than for one resulting from error</td></tr><tr><td /><td>as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override</td></tr><tr><td /><td>of internal control.</td></tr><tr><td></td><td>Obtain an understanding of internal control relevant to the audit in order to design audit</td></tr><tr><td /><td>procedures that are appropriate in the circumstances, but not for the purpose of expressing an</td></tr><tr><td /><td>opinion on the effectiveness of the Company’s internal control.</td></tr><tr><td></td><td>Evaluate the appropriateness of accounting policies used and the reasonableness of accounting</td></tr><tr><td /><td>estimates and related disclosures made by Management.</td></tr><tr><td></td><td>Conclude on the appropriateness of Management’s use of the going concern basis of accounting</td></tr><tr><td /><td>in preparing the financial statements and, based on the audit evidence obtained, whether a</td></tr><tr><td /><td>material uncertainty exists related to events or conditions that may cast significant doubt on the</td></tr><tr><td /><td>Company’s ability to continue as a going concern. If we conclude that a material uncertainty</td></tr><tr><td /><td>exists, we are required to draw attention in our auditor’s report to the related disclosures in the</td></tr><tr><td /><td>financial statements or, if such disclosures are inadequate, to modify our opinion. Our</td></tr><tr><td /><td>conclusions are based on the audit evidence obtained up to the date of our auditor’s report.</td></tr><tr><td /><td>However, future events or conditions may cause the Company to cease to continue as a going</td></tr><tr><td /><td>concern.</td></tr><tr><td></td><td>Evaluate the overall presentation, structure and contents of the financial statements, including the</td></tr><tr><td /><td>disclosures, and whether the financial statements represent the underlying transactions and events</td></tr><tr><td /><td>in a manner that gives a true and fair view.</td></tr><tr><td colspan="2">We communicate with those charged with governance regarding, among other matters, the planned scope</td></tr><tr><td colspan="2">and timing of the audit and significant audit findings, including any significant deficiencies in internal</td></tr><tr><td colspan="2">control that we identify during our audit.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Statement on Management’s Review</td></tr><tr><td colspan="1">Management is responsible for Management’s Review.</td></tr><tr><td colspan="1">Our opinion on the financial statements does not cover Management’s Review, and we do not express</td></tr><tr><td colspan="1">any form of assurance conclusion thereon.</td></tr><tr><td colspan="1">In connection with our audit of the financial statements, our responsibility is to read Management’s</td></tr><tr><td colspan="1">Review and, in doing so, consider whether Management’s Review is materially inconsistent with the</td></tr><tr><td colspan="1">financial statements or our knowledge obtained during the audit, or otherwise appears to be materially</td></tr><tr><td colspan="1">misstated.</td></tr><tr><td colspan="1">Moreover, it is our responsibility to consider whether Management’s Review provides the information</td></tr><tr><td colspan="1">required under the Danish Financial Statements Act.</td></tr><tr><td colspan="1">Based on the work we have performed, we conclude that Management’s Review is in accordance with</td></tr><tr><td colspan="1">the financial statements and has been prepared in accordance with the requirements of the Danish</td></tr><tr><td colspan="1">Financial Statement Act. We did not identify any material misstatement of Management’s Review.</td></tr></table> Brøndby 2025-06-11 TFS Trial Form Support ApS Vandtårnsvej 77 2860 Søborg 10064627 2001-01-01 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td>Parent company</td><td>TFS International Clinical Development Services AB</td></tr></table> Regnskabsklasse B <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Accounting policies</td></tr><tr><td colspan="1">The annual report for TFS Trial Form Support ApS has been presented in accordance with the Danish</td></tr><tr><td colspan="1">Financial Statements Act regulations concerning reporting class B enterprises. Furthermore, the company</td></tr><tr><td colspan="1">has decided to comply with certain rules applying to reporting class C enterprises.</td></tr><tr><td colspan="1">The accounting policies are unchanged from last year, and the annual report is presented in DKK.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Recognition and measurement in general</td></tr><tr><td colspan="1">Income is recognised in the income statement concurrently with its realisation, including the recognition</td></tr><tr><td colspan="1">of value adjustments of financial assets and liabilities. Likewise, all costs are recognised in the income</td></tr><tr><td colspan="1">statement, including depreciations amortisations, writedowns for impairment, provisions, and reversals</td></tr><tr><td colspan="1">due to changes in estimated amounts previously recognised in the income statement.</td></tr><tr><td colspan="1">Assets are recognised in the statement of financial position when it seems probable that future economic</td></tr><tr><td colspan="1">benefits will flow to the company and the value of the asset can be reliably measured.</td></tr><tr><td colspan="1">Liabilities are recognised in the statement of financial position when it is seems probable that future</td></tr><tr><td colspan="1">economic benefits will flow out of the company and the value of the liability can be reliably measured.</td></tr><tr><td colspan="1">Assets and liabilities are measured at cost at the initial recognition. Hereafter, assets and liabilities are</td></tr><tr><td colspan="1">measured as described below for each individual accounting item.</td></tr><tr><td colspan="1">Certain financial assets and liabilities are measured at amortised cost, allowing a constant effective</td></tr><tr><td colspan="1">interest rate to be recognised during the useful life of the asset or liability. Amortised cost is recognised</td></tr><tr><td colspan="1">as the original cost less any payments, plus/less accrued amortisations of the difference between cost and</td></tr><tr><td colspan="1">nominal amount. In this way, capital losses and gains are allocated over the useful life of the liability.</td></tr><tr><td colspan="1">Upon recognition and measurement, allowances are made for such predictable losses and risks which</td></tr><tr><td colspan="1">may arise prior to the presentation of the annual report and concern matters that exist on the reporting</td></tr><tr><td colspan="1">date.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Foreign currency translation</td></tr><tr><td colspan="1">Transactions in foreign currency are translated by using the exchange rate prevailing at the date of the</td></tr><tr><td colspan="1">transaction. Differences in the rate of exchange arising between the rate at the date of transaction and the</td></tr><tr><td colspan="1">rate at the date of payment are recognised in the profit and loss account as an item under net financials.</td></tr><tr><td colspan="1">Receivables, payables, and other foreign currency monetary items are translated using the closing rate.</td></tr><tr><td colspan="1">The difference between the closing rate and the rate at the time of the occurrence or initial recognition in</td></tr><tr><td colspan="1">the latest financial statements of the receivable or payable is recognised in the income statement under</td></tr><tr><td colspan="1">financial income and expenses.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Income statement</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Gross profit</td></tr><tr><td colspan="1">Gross profit comprises the revenue, other operating income and other external costs.</td></tr><tr><td colspan="1">Revenue is recognised in the income statement if delivery and passing of risk to the buyer have taken</td></tr><tr><td colspan="1">place before the end of the year and if the income can be determined reliably and inflow is anticipated.</td></tr><tr><td colspan="1">Recognition of revenue is exclusive of VAT and taxes and less any discounts relating directly to sales.</td></tr><tr><td colspan="1">Other operating income comprises items of a secondary nature as regards the principal activities of the</td></tr><tr><td colspan="1">enterprise, including profit from the disposal of intangible and tangible assets.</td></tr><tr><td colspan="1">Other external costs comprise costs incurred for distribution, sales, advertising, administration, premises,</td></tr><tr><td colspan="1">loss on receivables, and operational leasing costs.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Staff costs</td></tr><tr><td colspan="1">Staff costs include salaries and wages, including holiday allowances, pensions, and other social security</td></tr><tr><td colspan="1">costs, etc., for staff members. Staff costs are less government reimbursements.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Depreciation, amortisation, and writedown for impairment</td></tr><tr><td colspan="1">Depreciation, amortisation, and writedown for impairment comprise depreciation on, amortisation of,</td></tr><tr><td colspan="1">and writedown for impairment of intangible and tangible assets, respectively.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Financial income and expenses</td></tr><tr><td colspan="1">Financial income and expenses comprise interest, realised and unrealised capital gains and losses</td></tr><tr><td colspan="1">concerning financial assets and liabilities, amortisation of financial assets and liabilities, additions and</td></tr><tr><td colspan="1">reimbursements under the Danish tax prepayment scheme, etc. Financial income and expenses are</td></tr><tr><td colspan="1">recognised in the income statement with the amounts concerning the financial year.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Tax on net profit or loss for the year</td></tr><tr><td colspan="1">Tax for the year comprises the current income tax for the year and changes in deferred tax and is</td></tr><tr><td colspan="1">recognised in the income statement with the share attributable to the net profit or loss for the year and</td></tr><tr><td colspan="1">directly in equity with the share attributable to entries directly in equity.</td></tr><tr><td colspan="1">The company is subject to Danish rules on compulsory joint taxation of Danish group enterprises.</td></tr><tr><td colspan="1">The current Danish income tax is allocated among the jointly taxed companies proportional to their</td></tr><tr><td colspan="1">respective taxable income (full allocation with reimbursement of tax losses).</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Statement of financial position</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="2">Other fixtures and fittings, tools and equipment</td></tr><tr><td colspan="2">Other fixtures and fittings, tools and equipment are measured at cost less accrued depreciation and</td></tr><tr><td colspan="2">writedown for impairment.</td></tr><tr><td colspan="2">The depreciable amount is cost less any expected residual value after the end of the useful life of the</td></tr><tr><td colspan="2">asset. The amortisation period and the residual value are determined at the acquisition date and</td></tr><tr><td colspan="2">reassessed annually. If the residual value exceeds the carrying amount, the depreciation is discontinued.</td></tr><tr><td colspan="2">If the amortisation period or the residual value is changed, the effect on amortisation will, in future, be</td></tr><tr><td colspan="2">recognised as a change in the accounting estimates.</td></tr><tr><td colspan="2">The cost comprises acquisition cost and costs directly associated with the acquisition until the time when</td></tr><tr><td colspan="2">the asset is ready for use.</td></tr><tr><td colspan="2">The cost of a total asset is divided into separate components. These components are depreciated</td></tr><tr><td colspan="2">separately, the useful lives of each individual components differing, and the individual component</td></tr><tr><td colspan="2">representing a material part of the total cost.</td></tr><tr><td colspan="2">Depreciation is done on a straight-line basis according to an assessment of the expected useful life and</td></tr><tr><td colspan="2">the residual value of the individual assets</td></tr><tr><td>Useful life</td><td>Residual value</td></tr></table><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td>Other fixtures and fittings, tools and equipment</td><td /><td>3-5 years</td><td>0</td></tr><tr><td colspan="4">Minor assets with an expected useful life of less than 1 year are recognised as costs in the income</td></tr><tr><td colspan="4">statement in the year of acquisition.</td></tr><tr><td colspan="4">Profit or loss derived from the disposal of property, land, and equipment is measured as the difference</td></tr><tr><td colspan="4">between the sales price less selling costs and the carrying amount at the date of disposal. Profit or loss is</td></tr><tr><td colspan="4">recognised in the income statement as other operating income or other operating expenses.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Leases</td></tr><tr><td colspan="1">Leases are regarded as operating leases. Payments in connection with operating leases and other lease</td></tr><tr><td colspan="1">agreements are recognised in the income statement for the term of the contract. The company's total</td></tr><tr><td colspan="1">liabilities concerning operating leases and lease agreements are recognised under contingencies, etc.</td></tr><tr><td colspan="1">Impairment loss relating to non-current assets</td></tr><tr><td colspan="1">The carrying amount of both intangible and tangible fixed assets are subject to annual impairment tests in</td></tr><tr><td colspan="1">order to disclose any indications of impairment beyond those expressed by amortisation and depreciation</td></tr><tr><td colspan="1">respectively.</td></tr><tr><td colspan="1">If indications of impairment are disclosed, impairment tests are carried out for each individual asset or</td></tr><tr><td colspan="1">group of assets, respectively. Writedown for impairment is done to the recoverable amount if this value is</td></tr><tr><td colspan="1">lower than the carrying amount.</td></tr><tr><td colspan="1">The recoverable amount is the higher value of value in use and selling price less expected selling cost.</td></tr><tr><td colspan="1">The value in use is calculated as the present value of the expected net cash flows from the use of the</td></tr><tr><td colspan="1">asset or the asset group and expected net cash flows from the sale of the asset or the asset group after the</td></tr><tr><td colspan="1">end of their useful life.</td></tr><tr><td colspan="1">Previously recognised impairment losses are reversed when conditions for impairment no longer exist.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Deposits</td></tr><tr><td colspan="1">Deposits are measured at amortised cost.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Receivables</td></tr><tr><td colspan="1">Receivables are measured at amortised cost, which usually corresponds to nominal value.In order to meet</td></tr><tr><td colspan="1">expected losses, impairment takes place at the net realisable value.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Prepayments and accrued income</td></tr><tr><td colspan="1">Prepayments and accrued income recognised under assets comprise incurred costs concerning the</td></tr><tr><td colspan="1">following financial year.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Cash on hand and demand deposits</td></tr><tr><td colspan="1">Cash on hand and demand deposits comprise cash at bank and on hand.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Income tax and deferred tax</td></tr><tr><td colspan="1">Current tax liabilities and current tax receivable are recognised in the statement of financial position as</td></tr><tr><td colspan="1">calculated tax on the taxable income for the year, adjusted for tax of previous years' taxable income and</td></tr><tr><td colspan="1">for tax paid on account.</td></tr><tr><td colspan="1">The company is jointly taxed with consolidated Danish companies. The current corporate income tax is</td></tr><tr><td colspan="1">distributed between the jointly taxed companies in proportion to their taxable income and with full</td></tr><tr><td colspan="1">distribution with reimbursement as to tax losses. The jointly taxed companies are comprised by the</td></tr><tr><td colspan="1">Danish tax prepayment scheme.</td></tr><tr><td colspan="1">Joint taxation contributions payable and receivable are recognised in the statement of financial position</td></tr><tr><td colspan="1">as ”Tax receivables from group enterprises" or “Tax payables to group enterprises”.</td></tr><tr><td colspan="1">According to the rules of joint taxation, TFS Trial Form Support ApS is unlimitedly, jointly, and</td></tr><tr><td colspan="1">severally liable to pay the Danish tax authorities the total income tax, including withholding tax on</td></tr><tr><td colspan="1">interest, royalties, and dividends, arising from the jointly taxed group of companies.</td></tr><tr><td colspan="1">Deferred tax is measured on the basis of temporary differences in assets and liabilities with a focus on</td></tr><tr><td colspan="1">the statement of financial position. Deferred tax is measured at net realisable value.</td></tr><tr><td colspan="1">Deferred tax is measured based on the tax rules and tax rates applying under the legislation prevailing in</td></tr><tr><td colspan="1">the respective countries on the reporting date when the deferred tax is expected to be released as current</td></tr><tr><td colspan="1">tax. Changes in deferred tax due to changed tax rates are recognised in the income statement, except for</td></tr><tr><td colspan="1">items included directly in the equity.</td></tr><tr><td colspan="1">Deferred tax assets, including the tax value of tax losses allowed for carryforward, are recognised at the</td></tr><tr><td colspan="1">value at which they are expected to be realisable, either by settlement against tax of future earnings or by</td></tr><tr><td colspan="1">set-off in deferred tax liabilities within the same legal tax unit. Any deferred net tax assets are measured</td></tr><tr><td colspan="1">at net realisable value.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Liabilities other than provisions</td></tr><tr><td colspan="1">Other liabilities concerning payables to suppliers, group enterprises, and other payables are measured at</td></tr><tr><td colspan="1">amortised cost which usually corresponds to the nominal value.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Accruals and deferred income</td></tr><tr><td colspan="1">Payments received concerning future income are recognised under accruals and deferred income.</td></tr></table> 11329008 12917526 9060 -1597578 116660 26679 97778 -1552017 282163 -1834180 -1834180 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="4" align="left" valign="middle" ><b>Statement of changes in equity</b></td></tr><tr><td width="100%" colspan="4" align="left" valign="middle" >All amounts in DKK.</td></tr><tr><td width="36%" ></td><td width="26%" colspan="1" align="left" valign="middle" ><b>Contributed capital</b></td><td width="25%" colspan="1" align="left" valign="middle" ><b>Retained earnings</b></td><td width="13%" colspan="1" align="left" valign="middle" ><b>Total</b></td></tr><tr><td colspan="4"></td></tr><tr><td width="36%" colspan="1" align="left" valign="middle" >Equity 1 January 2024</td><td width="26%" align="right" valign="middle" >150000</td><td width="25%" align="right" valign="middle" >4280521</td><td width="13%" align="right" valign="middle" >4430521</td></tr><tr><td width="36%" colspan="1" align="left" valign="middle" >Retained earnings for the year</td><td width="26%" align="right" valign="middle" >0</td><td width="25%" align="right" valign="middle" >-1834180</td><td width="13%" align="right" valign="middle" >-1834180</td></tr><tr><td colspan="4"></td></tr><tr><td width="36%" ></td><td width="26%" align="right" valign="middle" ><b>150000</b></td><td width="25%" align="right" valign="middle" ><b>2446341</b></td><td width="13%" align="right" valign="middle" ><b>2596341</b></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="4" align="left" valign="middle" ><b>Notes</b></td></tr><tr><td width="100%" colspan="4" align="left" valign="middle" >All amounts in DKK.</td></tr><tr><td colspan="4"></td></tr><tr><td width="29%" ></td><td width="41%" ></td><td width="14%" align="right" valign="middle" >2024</td><td width="16%" align="right" valign="middle" >2023</td></tr><tr><td colspan="4"></td></tr><tr><td width="29%" align="right" valign="middle" ><b>1</b></td><td width="71%" colspan="3" align="left" valign="middle" ><b>Staff costs</b></td></tr><tr><td width="29%" ></td><td width="41%" colspan="1" align="left" valign="middle" >Salaries and wages</td><td width="14%" align="right" valign="middle" >11507684</td><td width="16%" align="right" valign="middle" >16163321</td></tr><tr><td width="29%" ></td><td width="41%" colspan="1" align="left" valign="middle" >Pension costs</td><td width="14%" align="right" valign="middle" >1133954</td><td width="16%" align="right" valign="middle" >1610338</td></tr><tr><td width="29%" ></td><td width="41%" colspan="1" align="left" valign="middle" >Other costs for social security</td><td width="14%" align="right" valign="middle" >275888</td><td width="16%" align="right" valign="middle" >27815</td></tr><tr><td width="29%" ></td><td width="41%" ></td><td width="14%" align="right" valign="middle" ><b>12917526</b></td><td width="16%" align="right" valign="middle" ><b>17801474</b></td></tr><tr><td width="29%" ></td><td width="41%" colspan="1" align="left" valign="middle" >Average number of employees</td><td width="14%" align="right" valign="middle" >14</td><td width="16%" align="right" valign="middle" >22</td></tr><tr><td colspan="4"></td></tr></table> 14 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="29%" align="right" valign="middle" ><b>2</b></td><td width="71%" colspan="3" align="left" valign="middle" ><b>Other financial expenses</b></td></tr><tr><td width="29%" ></td><td width="41%" colspan="1" align="left" valign="middle" >Financial costs, group enterprises</td><td width="14%" align="right" valign="middle" >2372</td><td width="16%" align="right" valign="middle" >130420</td></tr><tr><td width="29%" ></td><td width="41%" colspan="1" align="left" valign="middle" >Other financial costs</td><td width="14%" align="right" valign="middle" >95406</td><td width="16%" align="right" valign="middle" >53199</td></tr><tr><td width="29%" ></td><td width="41%" ></td><td width="14%" align="right" valign="middle" ><b>97778</b></td><td width="16%" align="right" valign="middle" ><b>183619</b></td></tr><tr><td colspan="4"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="41%" align="right" valign="middle" ><b>3</b></td><td width="59%" colspan="1" align="left" valign="middle" ><b>Contingencies</b></td></tr><tr><td width="41%" ></td><td width="59%" colspan="1" align="left" valign="middle" ><b>Contingent liabilities</b></td></tr><tr><td width="41%" ></td><td width="59%" colspan="1" align="left" valign="middle" >Lease liabilities</td></tr><tr><td width="41%" ></td><td width="59%" colspan="1" align="left" valign="middle" >The company has entered into operational leases for office supplies with monthly lease payments</td></tr><tr><td width="41%" ></td><td width="59%" colspan="1" align="left" valign="middle" >of DKK 7.265. The leases have 12 months to maturity and total outstanding lease payments total</td></tr><tr><td width="41%" ></td><td width="59%" colspan="1" align="left" valign="middle" >DKK 87.180.</td></tr><tr><td colspan="2"></td></tr><tr><td width="41%" ></td><td width="59%" colspan="1" align="left" valign="middle" >Liability regarding office lease amounts to DKK 56.000. equivalent to lease payments for 4</td></tr><tr><td width="41%" ></td><td width="59%" colspan="1" align="left" valign="middle" >months.</td></tr><tr><td colspan="2"></td></tr><tr><td width="41%" ></td><td width="59%" colspan="1" align="left" valign="middle" ><b>Joint taxation</b></td></tr><tr><td width="41%" ></td><td width="59%" colspan="1" align="left" valign="middle" >With RF af 20.12.2005 A/S, company reg. no 29211116 as administration company, the company</td></tr><tr><td width="41%" ></td><td width="59%" colspan="1" align="left" valign="middle" >is subject to the Danish scheme of joint taxation and unlimitedly, jointly, and severally liable,</td></tr><tr><td width="41%" ></td><td width="59%" colspan="1" align="left" valign="middle" >along with the other jointly taxed companies, for the total corporation tax.</td></tr><tr><td colspan="2"></td></tr><tr><td width="41%" ></td><td width="59%" colspan="1" align="left" valign="middle" >The company is unlimitedly, jointly, and severally liable, along with the other jointly taxed</td></tr><tr><td width="41%" ></td><td width="59%" colspan="1" align="left" valign="middle" >companies, for any obligations to withhold tax on interest, royalties, and dividends.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="2" align="left" valign="middle" ><b></b></td></tr><tr><td width="100%" colspan="2" align="left" valign="middle" >All amounts in DKK.</td></tr><tr><td colspan="2"></td></tr><tr><td width="41%" align="right" valign="middle" ><b>4</b></td><td width="59%" colspan="1" align="left" valign="middle" ><b>Related parties</b></td></tr><tr><td width="41%" ></td><td width="59%" colspan="1" align="left" valign="middle" ><b>Consolidated financial statements</b></td></tr><tr><td width="41%" ></td><td width="59%" colspan="1" align="left" valign="middle" >The company is included in the consolidated financial statements of</td></tr><tr><td colspan="2"></td></tr><tr><td width="41%" ></td><td width="59%" colspan="1" align="left" valign="middle" >TFS Trial Form Support International AB</td></tr><tr><td width="41%" ></td><td width="59%" colspan="1" align="left" valign="middle" >Medicon Village</td></tr><tr><td width="41%" ></td><td width="59%" colspan="1" align="left" valign="middle" >Scheeletorget 1, building 601, 4th floor</td></tr><tr><td width="41%" ></td><td width="59%" colspan="1" align="left" valign="middle" >SE-223 81 Lund</td></tr><tr><td width="41%" ></td><td width="59%" colspan="1" align="left" valign="middle" >Sweden</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Management´s review</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Description of key activities of the company</td></tr><tr><td colspan="1">TFS Trial Form Support ApS is a subsidiary under the Swedish companmy TFS International Clinical</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Development Services AB.</td></tr><tr><td colspan="1">The company is a private research company whose main activity is to carry out contract based clinical</td></tr><tr><td colspan="1">research projects. The company's customers are major pharmaceutical and biotech companies. The</td></tr><tr><td colspan="1">objective is to offer the company's customers a professional research support of optimal quality.</td></tr><tr><td colspan="1">Significant changes in the company's activities and financial matters</td></tr><tr><td colspan="1">The company has continued its normal operations. There have been no significant events in the financial</td></tr><tr><td colspan="1">year that require disclosure in the Management commentary.</td></tr><tr><td colspan="1">Management considers the development and results for the year satisfactory.</td></tr></table> Årsrapport 34209936 Grant Thornton, Statsautoriseret Revisionspartnerselskab Lautrupsgade 11 2100 København Ø xWizard version 1.1.1370.0, by EasyX Aps. www.easyx.eu 2023-01-01 2023-12-31 Revisionspåtegning Grundlag for konklusion Konklusion Jan Markus Granlund CEO Jan Markus Granlund Chairman Jesper Hjort Patrik Darsund 19548894 17801474 1788 1745632 7336 27420 183619 1596769 353066 1243703 1243703 22 27389 27389 90000 90000 117389 907336 3057584 4313 60000 437024 0 46439 4512696 4512696 4630085 150000 2446341 2596341 308828 1709928 14988 2033744 2033744 4630085 0 0 141120 141120 141120 5002832 1822198 107943 0 0 25933 14455 6973361 6973361 7114481 150000 4280521 4430521 237418 2421660 24882 2683960 2683960 7114481 Beierholm Certified Public Accountants Company 32895468 Gert Hunosøe Registered Accountant mne17802 Park Alle 295 2605 Brøndby