Årsrapport33771231PricewaterhouseCoopers Statsautoriseret RevisionspartnerselskabStrandvejen 442900 Hellerup2020-01-012019-01-012020-12-312019-12-3121857033Leverret Holding ApS in voluntary dissolution proceedingsKalvebod Brygge391560København V1999-07-01KøbenhavnKøbenhavns AndelskasseGammeltorv41457København KBECH-BRUUNLangelinie Allé352100København ØPricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab33771231Strandvejen442900HellerupDanmark2021-06-29Carsten Robert BrinkRegnskabsklasse BRevisionspåtegningThe Liquidator has today considered and adopted the Annual Report of Leverret Holding ApS in voluntary dissolution proceedings for the financial year 1 January - 31 December 2020.The Liquidation Financial Statements are prepared in accordance with the Danish Financial Statements Act.In my opinion the Liquidation Financial Statements give a true and fair view of the financial position at 31 December 2020 of the Company and of the results of the Company operations for .I recommend that the Annual Report be adopted at the Annual General Meeting.Copenhagen2021-06-29Carsten Robert BrinkTo the Shareholder of Leverret Holding ApS in voluntary dissolution proceedingsIn our opinion, the Financial Statements give a true and fair view of the financial position of the Company at 31 December 2020 and of the results of the Company’s operations for the period 1 January - 31 December 2020 in accordance with the Danish Financial Statements Act. We have audited the Financial Statements of Leverret Holding ApS in voluntary dissolution proceedings for the financial year 1 January - 31 December 2020, which comprise income statement, balance sheet, statement of changes in equity and notes, including a summary of significant accounting policies (”the Financial Statements”). 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’ 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. We refer to note 1 in the Financial Statements from which it appears that the Financial Statements are not prepared on a going concern basis, and that recognition, measurement and preparation are made with due consideration to this. Our opinion has not been modified in repect of this matter. 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 Liquidation 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. 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. 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. 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. Hellerup2021-06-29Hellerup2021-06-29PricewaterhouseCoopers Statsautoriseret RevisionspartnerselskabTorben Jensenstatsautoriseret revisormne18651Development in the period The income statement of the Company for the period 1 January - 31 December 2020 shows a loss of TDKK 134, and at 31 December 2020 the balance sheet of the Company shows equity of TDKK 502. Subsequent events No events materially affecting the assessment of the Liquidation Financial Statements have occurred after the balance sheet date.0011800039000-118000-39000014000160000-134000-2500000-134000-25000-134000-250005630005640001260001270006890006910000150006890007060006890007060000125000012500005110005020000502000636000187000700001870007000018700070000689000706000125000511000000As a consequence of the liquidation, the Company's Annual Report is not prepared in accordance with going concern principles, and consquently, assets and liabilities are recognised at expected net realisable values.01400015000010000160000Contingent assets The company has a non-recognised tax-asset, TDKK 1,210 regarding tax losses.The Annual Report of Leverret Holding ApS in voluntary dissolution proceedings for 2020 has been prepared in accordance with the provisions of the Danish Financial Statements Act applying to enterprises of reporting class B. Due to the liquidation, assets and liabilities are recognised at expected realisable values, and provision has been made for liquidation costs in debt in the Liquidation Financial Statements. Comparative figures for previous years have not been restated. The Liquidation Financial Statements are presented in TDKK.The Financial Statements have been prepared under the historical cost method. 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 period 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 previosly 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 Liquidation Financial Statements which confirm or invalidate affairs and conditions existing at the balance sheet date.Danish kroner is used as the presentation currency. All other currencies are regarded as foreign currencies. Transactions in foreign currencies are translated at the exchange rates at the dates of transaction. Gains and losses arising due to differences between the transaction date rates and the rates at the dates of payment are recognised in financial income and expenses in the income statement. Receivables, payables and other monetary items in foreign currencies that have not been settled at the balance sheet date are translated at the exchange rates at the balance sheet date. Any differences between the exchange rates at the balance sheet date and the transaction date rates are recognised in financial income and expenses in the income statement; however, see the section on hedge accounting.Administrative expenses comprise expenses for Management, administrative staff, office expenses, depreciation, etc.Financial income and expenses are recognised in the income statement at the amounts relating to the period.Tax for the period consists of current tax for the period and changes in deferred tax for the period. The tax attributable to the profit for the period is recognised in the income statement, whereas the tax attributable to equity transactions is recognised directly in equity.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, including the tax base of tax loss carry-forwards, 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 period 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.Debts are measured at amortised cost, substantially corresponding to nominal value.The share capital consists of 125k shares of a nominal value of DKK 1. No shares carry any special rights.218570332020-01-01e:ContributedCapitalMember218570332020-12-31e:ContributedCapitalMember218570332020-01-01e:RetainedEarningsMember218570332020-01-012020-12-31e:RetainedEarningsMember218570332020-12-31e:RetainedEarningsMember218570332020-01-012020-12-31218570332020-01-012020-12-311218570332019-01-012019-12-31218570332019-12-31218570332020-12-31218570332020-12-311218570332020-01-012020-12-311218570332020-01-012020-12-31e:RetainedEarningsMember218570332019-01-012019-12-31e:RetainedEarningsMemberiso4217:DKK