36980397 2022-01-01 2022-12-31 36980397 2021-01-01 2021-12-31 36980397 2022-01-01 2022-12-31 fsa:RetainedEarningsMember 36980397 2021-01-01 2021-12-31 fsa:RetainedEarningsMember 36980397 2022-12-31 36980397 2021-12-31 36980397 2021-12-31 fsa:ContributedCapitalMember 36980397 2022-12-31 fsa:ContributedCapitalMember 36980397 2021-12-31 fsa:RetainedEarningsMember 36980397 2022-01-01 2022-12-31 fsa:RetainedEarningsMember 36980397 2022-12-31 fsa:RetainedEarningsMember 36980397 2022-01-01 2022-12-31 1 36980397 2022-01-01 2022-12-31 3 36980397 2022-01-01 2022-12-31 2 36980397 2022-01-01 2022-12-31 1 36980397 2022-01-01 2022-12-31 1 iso4217:DKK xbrli:pure Allan Buhl Møller PrimaCare A/S Hørkær 12 B DK 2730 Herlev 36980397 Herlev ParentOona Health A/SHørkær 12 BDK-2730 Herlev Allan Møller Kent Jensen Robert Christopher Massey Kent Jensen Deloitte Statsautoriseret Revisionspartnerselskab Weidekampsgade 6 DK 2300 Copenhagen S 33963556 Primary activitiesPrimaCare is a network health care company providing physiotherapy, chiropractic, and psychological help toinsurance companies, including Dansk Sundhedssikring (DSS) in particular, but also health care solutions in itsown name primarily to state-controlled entities and their employees. Such health care solutions typicallycomprise treatment arrangements with physiotherapy, chiropractic and massage at the entity's premises, andpsychological help, health certificate, occupational therapist examinations or other prevention initiatives at external locations.Development in activities and financesThe result after tax for the year amounted to a loss of DKK 3,011 thousand against a profit of DKK 2,204 thousand in 2021. According to Management the result for 2022 is unsatisfying.OutlookPrimaCare expects to be able to continue the positive development with additional state-controlled entitiesas its own customers. In addition, PrimaCare is expected to continue to support DSS’ increasing growth andto be able to deliver the same amount of physiotherapy, chiropractic and psychological support as in 2022.All in all, it will lead to improvement in profitability of the business and create expectations for increased revenue and earnings in 2023. Profit after tax for 2023 is expected to be in the range of DKK 150 to 300 thousand after tax.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. The Board of Directors and the Executive Board have today considered and approved the annual report of PrimaCare A/S 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 Company’s financial position at 31 December 2022and of its financial performance for the financial year 1 January to 31 December 2022.We believe that the management commentary contains a fair review of the affairs and conditions referred totherein.We recommend the annual report for adoption at the Annual General Meeting. Herlev To the shareholders of PrimaCare A/S We have audited the financial statements of PrimaCare A/S for the financial year 01.01.2022 - 31.12.2022, which comprise the income statement, balance sheet, statement of changes in equity, cash flow statement 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 and cash flows 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 of Accountants' Code of Ethics for Professional Accountants (IESBA Code) and the additional requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements. 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:• 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 Entity’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 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.• 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.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.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. Copenhagen Anders Oldau Gjelstrup State-Authorised Public Accountant mne10777 8187000 13291000 11684000 10217000 40000 58000 -3538000 3017000 9000 3000 313000 259000 -3842000 2761000 -831000 557000 -3011000 2204000 -3011000 2204000 0 0 0 0 35000 76000 35000 76000 35000 76000 1567000 2371000 0 313000 1533000 801000 26809000 23611000 29908000 27096000 371000 3036000 30279000 30132000 30315000 30207000 500000 500000 2218000 -4771000 2718000 -4271000 442000 808000 2966000 8553000 1649000 2012000 22539000 23105000 27597000 34478000 30315000 30207000 500000 -4771000 10000000 10000000 -3011000 500000 2218000 1. Staff costsDKK'000DKK'000Wages and salaries 10,037 9,168Pension costs 913 719Other social security costs 144 72Other staff costs 590 25811,684 10,217 24 22 2. Depreciation, amortisation and impairment lossesDKK'000DKK'000Depreciation on property, plant and equipment 40 5840 58 3. Other financial expensesDKK'000DKK'000Financial expenses from group entities 178 145Other interest expenses 15 28Other financial expenses 121 85313 259 4. Tax on profit/loss for the yearDKK'000DKK'000Current tax 0 0Change in deferred tax -831 608Adjustment prior year 0 (51)-831557 Acquired Completed intangible developmeassets nt costsDKK'000DKK'0005. Intangible assetsCost beginning of year 150 7,080Cost end of year 150 7,080Amortisation and impairment losses beginning of year 150 (7,080) Amortisation and impairment losses end of year (150) 7,080 Carrying amount end of year 0 0 Other fixtures and fittings, tools and equipmentDKK'0006. Property, plant and equipmentCost beginning of year 262Cost end of year 262Depreciation and impairment losses beginning of year (187) Depreciation and impairment losses for the year (40) Depreciation and impairment losses end of year (227) Carrying amount end of year 35 Nominal Recorded parvaluePar valuevalue7. Contributed capital NumberDKK'000DKK'000DKK'000Shares 500 1 500 500500 1 500 500 8. Payables to group entitiesThe Parent Oona Health A/S has with accounting effect as of the 30 December decided that the payable from PrimaCare A/S to Oona Health A/S is remitted with 10,000 DKKt. The remisison of debt is booked directly on equity under retained earnings.After the remission PrimaCare A/S has a intercompany payble of 2,966 DKKt on the balance date. 9. ConsolidationOona Health A/S, Hørkær 12B, 2730 Herlev prepares the consolidated financial statements for the Group inwhich PrimaCare A/S is a subsidiary. 10. Contingent liabilitiesThe Company participates in a Danish joint taxation arrangement in which Daytona Midco Limited serves asthe administration company. According to the joint taxation provisions of the Danish Corporation Tax Act, theCompany is therefore, from the financial year 2019, liable for income taxes etc. for the jointly taxed companiesand, from the establishment of the Company, also for obligations, if any, relating to the withholding of tax oninterest, royalties and dividends for the jointly taxed companies. The jointly taxed companies' total known netliability in the joint taxation arrangement is stated in the financial statements of the administration company. true true MergerIn February 2021 PrimaCare merged with its sister company VitalityGuard with PrimaCare as continuingcompany. The merger had accounting effect as of 1 January 2021. The merger has been carried out using themerger method.Recognition 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 Company, and the value of the assets can be measured reliably.Liabilities are recognised in the balance sheet when the Company has a legal or constructive obligation as a result of a prior event, and it is probable that future economic benefits will flow out of the Company, and the value of the liabilities can be measured reliably.On initial recognition, assets and liabilities are measured at cost. Measurement subsequent to initial recognition is affected 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 andmeasurement.Income is recognised in the income statement when earned, whereas costs are recognised by the amounts attributable to this financial year. Income statementGross profit or lossGross profit or loss comprises revenue, cost of sales and other external expenses.RevenueRevenue from the sale of services is recognised in the income statement when delivery is made and risk has passed to the buyer. Revenue is recognised net of VAT, duties and sales discounts and is measured at fair value of the consideration fixed.Cost of salesCost of sales comprises cost of sales for the year measured at cost, adjusted for ordinary inventory writedowns.Other external expensesOther external expenses comprise expenses related to the Company's primary activities, including cost of premises, stationary and office supplies, promotion expenses, etc. The item also includes write-down ofreceivables recognised under current assets.Staff costsStaff costs comprise wages and salareis as well as expenses for social security, pensions, etc. to the Company's employees.Depreciation, amortisation and impairment lossesDepreciation and amortisation of property, plant and equipment and intangible assets comprise depreciation and amortisation of the financial year calculated based on the fixed residual values and useful lives of each asset and performed impairment tests and of gains and losses on the sale of property, plant and equipment and intangible assets.Other financial incomeOther financial income comprise interest income, including interest income from receivables from groupentities, payables and transactions in foreign currencies, as well as tax relief under the Danish Tax Prepayment Scheme.Other financial expensesOther financial expenses comprise interest expenses, including interest expenses from payables to group enterprises and transactions in foreign currencies as well as tax relief under the Danish Tax Prepayment Scheme.NotesIncome taxesTax 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 equityby the portion attributable to entries directly in equity.The Company is jointly taxed with its Parent. The current Danish income tax is allocated among the jointly taxed companies proportionally to their taxable income (full allocation with a refund concerning tax losses).Balance sheetIntellectual property rights, etc.Intellectual property rights, etc. comprise ongoing and completed development projects 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 costs as intangible assets, an amount equal to the expenses incurred is tied to equity under the reserve for development costs which is reduced concurrently with the amortisation and write-down of the development projects.The cost of development projects comprises costs such as salaries and amortisation that are directly and indirectly attributable to the development projects.Completed development projects are amortised on a straight-line basis using the estimated useful lives determined based on a specific assessment of the individual development project. For development projects protected by intellectual property rights, the maximum amortisation period is the remaining duration of the relevant rights, however, no more than 10 years.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 for 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:Other fixtures and fittings, tools and equipment 3-5 yearsExpected useful lives and resitual values are reassessed on an annual basis.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 provisions for bad debts.Joint taxation contributions payable or receivableCurrent joint taxation contributions receivable or joint taxation contributions payable are recognised in the balance sheet, calculated as tax computed on the taxable income of the year, which has been adjusted for prepaid tax. For tax losses, joint taxation contributions receivable are only recognised if such losses are expected to be used under the joint taxation arrangement.PrepaymentsPrepayments comprise incurred costs relating to subsequent financial years. Prepayments are measured at cost.Cash and cash equivalentsCash and cash equivalents comprises bank deposits.Deferred taxDeferred tax is recognised on all temporary differences between the carrying amount and tax-based value of assets and liabilities, for which the tax-based value of assets 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.Other financial liabilities Other financial liabilities are recognised in the balance sheet when it is it is probable that future economicbenefits will flow out of the Company.Other liabilities are recognised at amortised cost. Annual report Auditor's report on audited financial statements ParsePort XBRL Converter 2022-01-01 2022-12-31 2021-01-01 2021-12-31 2023-03-22 Reporting class B 2023-03-22 36980397 PrimaCare A/S Hørkær 12 B 2730 Herlev Opinion Basis for Opinion 2023-03-22