25246373 2022-01-01 2022-12-31 fsa:RetainedEarningsMember 25246373 2021-01-01 2021-12-31 fsa:RetainedEarningsMember 25246373 2022-01-01 2022-12-31 25246373 2022-12-31 25246373 2021-01-01 2021-12-31 25246373 2021-12-31 25246373 2022-01-01 2022-12-31 1 25246373 2022-01-01 2022-12-31 2 25246373 2022-01-01 2022-12-31 3 25246373 2022-01-01 2022-12-31 1 25246373 2022-01-01 2022-12-31 1 25246373 2022-01-01 2022-12-31 2 iso4217:DKK xbrli:pure 2022-01-01 2022-12-31 2023-02-10 2023-02-10 2023-02-10 Brøndby inforevision statsautoriseret revisionsaktieselskab 2860 Søborg NSSLGlobal ApS Buddingevej 312 Vestre Gade 6A 2605 Søborg 25246373 2021-01-01 2021-12-31 The company's primary activities were sale and industry within the telecommunication industry. The results of the company's activities in the financial year amounted to a profit/loss of DKK 1.406.583 against DKK 1.448.308 in last financial year. The equity at the balance sheet date amounted to DKK 3.708.731. Management consider the results as satisfactory. The next financial year is expected to yield results comparable to the current year, based on the prepared budgets and an anticipated increase in activity level. This is contingent upon maintaining and expanding the company's customer portfolio, as well as filling open positions with new employees. The Board of Directors and The Executive Board have today considered and adopted the annual report for 1 January 2022 - 31 December 2022 for NSSLGlobal ApS. The annual report is prepared in accordance with the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the the company's financial position at 31 December 2022 and of the results of its operations for the financial year 1 January 2022 - 31 December 2022. We believe that the Management's review contains a fair review of the affairs and conditions referred to therein. We recommend that the annual report be adopted at the Annual General Meeting. To the shareholder in NSSLGlobal ApS We have audited the financial statements of NSSLGlobal ApS for the financial year 1 January 2022 - 31 December 2022, which comprise a summary of significant accounting policies, income statement, balance sheet, statement of changes in equity and notes. The financial statements are prepared under the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the company's financial position as at 31 December 2022 and of the results of the company's operations for the financial year 1 January 2022 - 31 December 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 company 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 and 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, 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 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 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 Management’s Review.Our opinion on the financial statements does not cover Management’s Review, 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 Management’s Review and, in doing so, consider whether Management’s Review is materially inconsistent with the financial statements or our knowledge obtained during the audit, or otherwise appears to be materially misstated.Moreover, it is our responsibility to consider whether Management’s Review provides the information required under the Danish Financials Statements Act.Based on the work we have performed, in our view, Management’s Review 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 in Management’s Review. The annual report has been prepared in accordance with Danish financial statement legislation as well as generally accepted accounting principles. The annual report has been prepared in accordance with the provisions of the Danish Financial Statements Act governing Reporting class B.Some provisions from reporting class C has been adopted.The accounting policies have not been changed from last year. The financial statements have been prepared based on historical cost.The income is 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.Certain financial assets and liabilities are measured at amortised cost, which involves the recognition of a constant effective interest rate over the maturity period. Amortised cost is calculated as original cost less any repayments and with addition/deduction of the cumulative amortisation of any difference between cost and the nominal amount. In this way, capital losses and gains are allocated over the maturity period.Recognition and measurement take into account predictable losses and risks occurring before the presentation of the annual report which confirm or invalidate affairs and conditions existing at the balance sheet date.The functional currency is Danish Kroner. All other currencies are considered foreign currencies. During the year, transactions in foreign currencies have been translated applying the exchange rate at the transaction date. If currency positions are considered hedge of future cash flows, the value adjustments are recognised directly in equity.Receivables and debt denominated in foreign currencies have been recognised at the exchange rate of the balance sheet date.Realised and unrealised exchange gains and losses have been recognised in the income statement under other financial income and expenses. Gross profit/loss includes "Revenue""Cost of sales""Other operating income""External expenses". Revenue from airtime and subscriptions are recognized for the periods they relate to. Revenue from the sale of goods for resale is recognised in the income statement when delivery is made and risk has passed to the buyer before the end of the financial year. Revenue is measured at fair value excl. VAT and less granted goods and customer discounts. Cost of sales comprise expenses incurred to earn revenue for the year including changes in goods for resale, raw materials and consumables used as well as packaging in the year. Other operating income includes financial statement items of a secondary nature in relation to the primary activity of the enterprise, including management fee. External expenses comprises Selling costsCost of premisesAdministrative expenses. Staff costs include wages and salaries including holiday pay and pensions and other social security costs etc. to the company's employees. Financial income is recognised with amounts concerning the the financial year. Financial income comprise interest, realised and unrealised exchange gains, realised and unrealised gains on sale of other securities and investments, dividends as well as interest reimbursements under the Danish Tax Prepayment Scheme. Financial expenses is recognised with amounts concerning the the financial year. Financial expenses comprise interest, realised and unrealised exchange losses, realised and unrealised losses on sale of other securities and investments, amortised interest on lease commitments, amortisation of debt to mortgage credit institutions as well as interest surcharge under the Danish Tax Prepayment Scheme. Tax on profit or loss for the year represents 22% of the book profit or loss adjusted for non-taxable and non-deductible items. Tax on profit or loss for the year consists of the anticipated tax portion of the taxable income for the year adjusted for the changes for the year in deferred tax. Changes in deferred taxes due to adjustments of tax rates is recognised in the income statement. Tax on profit or loss for the year is recognised in the income statement by the portion attributable to the profit or loss for the year and recognised directly in equity by the portion attributable to entries directly in equity. The company is subject to the Danish Tax Prepayment Scheme. Interest reimbursement and interest surcharge have been recognised in financial income and expenses. The balance sheet has been presented in account form. Intangible assets are measured at cost less accumulate amortisation. Cost comprises the acquisition price as well as costs directly related to the acquisition until the time when the asset is ready to be put into operation. Assets are amortised on a straight-line basis over their estimated useful lives:Category Period Acquired licences 5 years As the intangible assets are not being traded in an active and effective market, no residual values after end of use are included when determining the amortisation period.Profit/loss on sale has been included in the income statement under gross profit or loss and other operating expenses.The carrying amounts of intangible assets are reviewed annually for indication of impairment for losses, apart from what is expressed by usual amortisation. If this applies, impairment for loss is made of each asset or group of assets, respectively, to lower recoverable amount. As recoverable amount, the higher of expected net selling price and net present value is applied. The net present value is calculated as the present value of the expected cash flows from the use of the asset or the group of assets.Impairment for loss for the year is recognised in the income statement as amortisation, depreciation and impairment for loss of property, plant and equipment and intangible assets. Property, plant and equipment are measured at cost less accumulate depreciation. The basis of depreciation is cost less estimated residual value after the end of useful life. Cost comprises the acquisition price as well as costs directly related to the acquisition until the time when the asset is ready to be put into operation. The costprice for an asset is divided into separate components, that are depreciated separately, if the useful life of the individual components is significantly different. Depreciation is initiated when the assets are ready to be taken into operation. Assets are depreciated on a straight-line basis over their estimated useful lives with following residual values:Category Period Residual value Leasehold improvements 5 years 0% Fixtures, fittings, tools and equipment 5 years 0% Minor purchases with useful lives below one year have been recognised as an expense in the income statement in external expenses.Profit/loss on sale or retirement has been included in the income statement under gross profit or loss and other operating expenses.The carrying amounts of property, plant and equipment are reviewed annually for indication of impairment for losses, apart from what is expressed by usual depreciation. If this applies, impairment for loss is made of each asset or group of assets, respectively, to lower recoverable amount. As recoverable amount, the higher of expected net selling price and net present value is applied. The net present value is calculated as the present value of the expected cash flows from the use of the asset or the group of assets.Impairment for loss for the year is recognised in the income statement as amortisation, depreciation and impairment for loss of property, plant and equipment and intangible assets. Deposits recognised as fixed assets are measured at amortised cost, which usually corresponds to nominal amount. Inventories are measured at cost according to the FIFO method. In the event of cost exceeding net realisable value, writedown is made to this lower value. Cost of goods for resale as well as raw materials and consumables comprises purchase price plus delivery costs. Cost of manufactured goods and work in progress consists of costs of raw materials, consumables, direct labour costs and other direct costs. The net realisable value of inventories is calculated at the estimated selling price less completion costs and expected costs to execute sale. The net realisable value is determined allowing for marketability, obsolescence and development in expected sales price.Received prepayments from customers regarding non delivered goods are recognised as liabilities. 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. Provisions for bad debts are determined on the basis of an individual assessment of each receivable. Prepayments comprise costs incurred relating to subsequent financial years. Deferred tax is measured using the balance sheet liability method. Provision has been made for deferred tax by 22% on all temporary differences between carrying amount and tax-based value of assets and liabilities. Deferred tax is also measures with respect of the planned use of the asset and the settlement of the liability. The tax value of the tax losses to be carried forward are included in the calculation of deferred taxes if it is probable that the losses can be used. Deferred tax assets are measured at net realisable value.Deferred tax assets which are not expected utilised within a few years have been disclosed in notes under contingent assets.Corporation tax relating to the the financial year which has not been settled at the balance sheet date is classified as corporation tax in receivables or liabilities other than provisions. Short-term debts are measured at amortised cost, substantially corresponding to nominal value. 10731204 11236721 9248834 9018512 47350 64459 1435020 2153750 443863 0 79475 296945 1799408 1856805 392825 408497 1406583 1448308 1406583 1448308 84969 111113 84969 111113 347663 22779 347663 22779 87994 81818 87994 81818 520626 215710 406387 414206 406387 414206 5133439 7278342 9569 0 0 55000 2241471 99318 7384479 7432660 9518587 8252831 17309453 16099697 17830079 16315407 80000 80000 3628731 2222148 3708731 2302148 21452 7293 21452 7293 121412 31246 4931971 3093063 5257998 6352922 659196 662054 3129319 3866681 14099896 14005966 14099896 14005966 17830079 16315407 STATEMENT OF CHANGES IN EQUITY Contributed capital Retained earnings Total DKK DKK DKK Equity at 1 January 2021 80,000 295,995 375,995 Addition by merger 0 477,845 477,845 Distributed profit/loss for the year 1,448,308 1,448,308 Equity at 1 January 2022 80,000 2,222,148 2,302,148 Distributed profit/loss for the year 1,406,583 1,406,583 Equity at 31 December 2022 80,000 3,628,731 3,708,731 8451217 8313765 648561 605652 73116 87457 75940 11638 9 9 STAFF COSTS 2022 2021 DKK DKK Wages and salaries 8,451,217 8,313,765 Pensions 648,561 605,652 Other social security costs 73,116 87,457 Other staff cost 75,940 11,638 Total 9,248,834 9,018,512 Average number of full-time employees 9 9 DEPRECIATION, AMORTISATION AND IMPAIRMENT LOSSES OF PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS 2022 2021 DKK DKK Amortisation of intangible assets 26,144 34,370 Depreciation of property, plant and equipment 21,205 30,089 Total 47,349 64,459 443863 0 FINANCE INCOME 2022 2021 DKK DKK Other financial income 443,863 0 Total 443,863 0 56557 84477 22918 212468 FINANCE EXPENSES 2022 2021 DKK DKK Financial expenses to group enterprises 56,557 84,477 Other financial expenses 22,918 212,468 Total 79,475 296,945 TAX EXPENSE Joint tax contribution Deferred tax Tax on profit/loss for the year DKK DKK DKK Payables at 1 January 2022 662,054 7,293 Paid in respect of previous years -381,524 Tax on profit/loss for the year 378,666 14,159 392,825 Payables at 31 December 2022 659,196 21,452 Tax on profit/loss for the year recognised in the income statement 392,825 Recognition in balance sheet: Provisions 21,452 Short-term payables 659,196 Total 659,196 21,452 INTANGIBLE ASSETS Acquired licences Total 2021 DKK DKK DKK Cost at 1 January 2022 614,614 614,614 483,893 Additions for the year 0 0 130,721 Cost at 31 December 2022 614,614 614,614 614,614 Amortisation and impairment losses at 1 January 2022 -503,501 -503,501 -469,131 Amortisation for the year -26,144 -26,144 -34,370 Amortisation and impairment losses at 31 December 2022 -529,645 -529,645 -503,501 Carrying amount at 31 December 2022 84,969 84,969 111,113 PROPERTY, PLANT AND EQUIPMENT Leasehold improvements Fixtures, fittings, tools and equipment Total 2021 DKK DKK DKK DKK Cost at 1 January 2022 17,402 288,569 305,971 293,704 Additions for the year 0 346,089 346,089 12,267 Cost at 31 December 2022 17,402 634,658 652,060 305,971 Depreciation and impairment losses at 1 January 2022 -17,402 -265,790 -283,192 -253,103 Depreciation for the year 0 -21,205 -21,205 -30,089 Depreciation and impairment losses at 31 December 2022 -17,402 -286,995 -304,397 -283,192 Carrying amount at 31 December 2022 0 347,663 347,663 22,779 INVESTMENTS Deposits Total 2021 DKK DKK DKK Cost at 1 January 2022 81,818 81,818 81,818 Adjustments beginning of the year 6,176 6,176 0 Cost at 31 December 2022 87,994 87,994 81,818 Carrying amount at 31 December 2022 87,994 87,994 81,818 CASH DKK 7,599k of the company's cash are incl. in a group cash pool. CONTINGENT LIABILITIES NSSLGlobal ApS are jointly tax with other group companies and are severally liable for tax on the jointly taxed incomes etc. of the group. Moreover, the group companies are jointly and severally liable for Danish withholding taxes by way of tax on interest, dividend tax and tax on royalty payments. Any subsequent adjustments of corporation taxes and withholding taxes may increase the the company's liability. The Company is together with the other group companies in Denmark, Engalnd and Germany liable for a joint group credit limit with the credit institition on DKK 16,768k. UNRECOGNISED CONTRACTUAL COMMITMENTS 2022 DKK The Company has entered into lease contract for lease of office. The contract is terminable at six months' notice. The total lease commitment represnts approx. 132,000 Total rental and lease obligations 132,000 RELATED PARTIES Related parties with controlling interest comprise the following:     Controlling interest: Basis of controlling interest:   NSSLGlobal Limited Ultimate main shareholder   in accordance with section 98(c)(7) of the Danish Financial Statements Act no related party transactions have been disclosed as management assess all transactions have been carried out on an arm’s length basis. GROUP RELATIONS The company is included in the consolidated report for the parent companies:     The largest group: Arendals Fossekompani ASA, Langbryggen 9, 4841 Arendal, NOK The smallest group: NSSLGLOBAL Ltd, 6 Wells Place, Redhill, Surrey, RH1 3DR, UK   Grundlag for konklusion Konklusion Regnskabsklasse B Årsrapport Revisionspåtegning Sally-Anne Ray Sara Jayne Gordon Nils Erik Staffan Iveberg Nikolaj Erik Helsinghoff Hvegholm Nikolaj Erik Helsinghoff Hvegholm mne34154 Mark Schneekloth Jensen inforevision statsautoriseret revisionsaktieselskab 19263096 mne34318 Lasse Sværke inforevision statsautoriseret revisionsaktieselskab 19263096