xbrli:pureiso4217:DKK387050082020-07-012020-12-31387050082020-07-012020-12-311387050082020-07-012020-12-311387050082020-07-012020-12-31387050082019-07-012020-06-30387050082020-07-012020-12-31fsa:RetainedEarningsMember387050082019-07-012020-06-30fsa:RetainedEarningsMember387050082020-07-012020-12-31fsa:RetainedEarningsMember387050082020-12-31387050082020-06-30387050082020-07-01fsa:ContributedCapitalMember387050082020-07-01fsa:RetainedEarningsMember387050082020-07-01387050082020-12-31fsa:ContributedCapitalMember387050082020-12-31fsa:RetainedEarningsMember387050082020-07-012020-12-31fsa:OtherShorttermPayablesMembertrue339635562019-07-012020-06-30Aarhus C80002City Tower, VærkmestergadeDeloitte Statsautoriseret RevisionspartnerselskabAarhusSolbjerg8355Regnskabsklasse BErklæring om udvidet gennemgang2020-12-312020-07-01<br /><br />39Solbjerg HedevejMIA data ApS38705008339635562300 København SWeidekampsgade 6Deloitte Statsautoriseret RevisionspartnerselskabÅrsrapportThe Executive Board have today considered and approved the annual report of MIA data ApS for the financial year 01.07.2020 - 31.12.2020.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 Entity’s financial position at 31.12.2020 and of the results of its operations for the financial year 01.07.2020 - 31.12.2020.I believe that the management commentary contains a fair review of the affairs and conditions referred to therein.I recommend the annual report for adoption at the Annual General Meeting.Aarhus2021-06-23Betina Charlotte NygaardTo the shareholders of MIA data ApSWe have performed an extended review of the financial statements of MIA data ApS for the ​financial year 01.07.2020 - 31.12.2020, which comprise the income statement, balance sheet, statement of changes in equity and notes, including a summary of significant accounting policies. The financial statements are prepared in accordance with the Danish Financial Statements Act. ​Based on our extended review, in our opinion, the financial statements give a true and fair view of the Entity’s ​financial position at. 31.12.2020 and of the results of its operations for the financial year 01.07.2020 - 31.12.2020 in accordance with the Danish Financial Statements Act.We conducted our extended review in accordance with the assurance engagement standard for small enterprises as issued by the Danish Business Authority and the standard on extended review of financial statements prepared in accordance with the Danish Financial Statements Act as issued by FSR - Danish Auditors. Our responsibilities under those standards and requirements are further described in the ”Auditor’s responsibilities for the extended review of the financial statements” section. We are independent of the Entity 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 evidence we have obtained is sufficient and appropriate to provide a basis for our conclusion.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, disclosing, as applicable, matters related to going concern, and using the going concern basis of accounting unless Management either intends to liquidate the Entity or to cease operations, or has no realistic alternative but to do so.Our responsibility is to express a conclusion on the financial statements. This requires that we plan and perform procedures to obtain limited assurance about our conclusion on the financial statements and that we also perform specifically required supplementary procedures for the purpose of obtaining additional assurance about our conclusion. An extended review consists of making inquiries, primarily of management and, if appropriate, of other entity personnel, performing analytical and the specifically required supplementary procedures as well as evaluating the evidence obtained. The procedures performed in an extended review are less in scope than in an audit, and accordingly we do not express an audit opinion on the financial statements.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 extended review 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 extended review 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.<br />Based on the work we have performed, we conclude that the management commentary is in accordance with 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.Aarhus2021-06-23Mads Fauerskovmne35428State Authorised Public AccountantPrimary activitiesThe company's purpose is to run information technology business and other in related business, including holding shares in others companies.Development in activities and financesThe Company's income statement for 2020 shows a loss of DKK 433 thousand, and the Company's balance sheet at 31.12.2020 shows equity of DKK 266 thousand. Management considers the result for the year to be satisfying taking into concideration, that the applied change in accounting policies regarding recoglition of revenues has had siginifant influence on presentation of revenues and the total revenue reognised in 2020. The Company was acquind by Scanmarket A/S as of 01.07.2020 and has changed the financial year to 01.07.2020-31.12.2020 in order to adopt the financial year of Scanmarket A/S. The outbreak and spread of COVID-19 in early 2020 has not had any significant impact on the Company's financial position and development.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.-5428238252211229221615208-665745-7899874840022047693-663109-797680-229966-152406-433143-645274-433143-645274-43314399759975997599759975997580069805000799972032074180569811207133366994353471142397155606011523721566035500005000021591464905726591469905750000-401583-35158350000215914179472963351794729633501174815649153603574120484220311831543535135197086851157064386851157064311523721566035105064010506401 Staff costs2020 DKK2019/20 DKKWages and salaries121,5171,597,343Other social security costs7008,437Other staff costs7059,428122,9221,615,208Average number of full-time employees02022 Other financial income 2020 DKK2019/20 DKKFinancial income from group enterprises4,84004,84003 Other financial expenses2020 DKK2019/20 DKKOther interest expenses1,2413,797Exchange rate adjustments1242Other financial expenses9513,8542,2047,693<br />2020 DKK2019/20 DKKOther interest expenses1,2413,797Exchange rate adjustments1242Other financial expenses9513,8542,2047,6934 Tax on profit/loss for the year2020 DKK2019/20 DKKCurrent tax48,4220Change in deferred tax(278,388)(152,406)(229,966)(152,406)5 Other payables2020 DKK2019/20 DKKVAT and duties306,863314,581Wages and salaries, personal income taxes, social security costs, etc payable0223,808Other costs payable4,9685,146311,831543,5356 Contingent liabilitiesThe Entity participates in a Danish joint taxation arrangement where HoldCo Sourcing A/S serves as the administration company. According to the joint taxation provisions of the Danish Corporation Tax Act, the Entity is therefore liable for income taxes etc for the jointly taxed entities. The jointly taxed entities' total known net liability under the joint taxation arrangement is disclosed in the administration company's financial statements.This annual report has been presented in accordance with the provisions of the Danish Financial Statements Act governing reporting class B enterprises with addition of certain provisions for reporting class C.Changes in accounting policiesThe Entity has changed its accounting policies with regard to recognition of revenue. ​ ​The company has reassessed the accounting policies used to recognize revenue from licenses and related hosting services. With the support of IFRS 15 the management have concluded that revenue from licenses must be recognized in full at the time of entering into the contract, while revenue from hosting services must be recognized on a straight-line basis over the term of the hosting agreement. Previously, the hosting services were recognized at the time of entering into the contract. The Company’s sale of licenses is considered delivered to the customer upon installation and the customer’s access to the platform as the Company is not obliged to further develop the solution for the customer in the contract period. The hosting service is considered delivered to the customer on a continuous basis over the license period, and thus the hosting service is taken to income on a straight-line basis over the contract period. ​The change of the Company’s accounting policy is made back in time, and the comparative figures are thus restated as if IFRS 15 were applied historically. ​ ​​​The change in accounting policies has led to a decrease in revenue and deferred income of DKK 1.265.398 and DKK 81.576, ​​respectively. Consequently, the total effect of the change in accounting policies is a ​decrease in this year's pre-tax profit of DKK 1.265.398. Tax for the year incumbent on the change in ​​accounting policies, consisting of an adjustment of deferred tax, amounts to DKK 278.388, after which net profit for the ​year decreases by DKK 987.010. The balance sheet total is unchanged while equity ​increases by DKK 1.050.640 at 31.12.2020. ​ ​​​ The comparative figures have been restated following the change in accounting policies. ​ The change of the Company’s accounting policy and interpretation according to IFRS have not resulted in other changes in the Company’s accounting treatment of revenue. ​​ ​​Apart from the areas mentioned above, the annual report has been presented applying the accounting policies ​consistent with last yearNon-comparabilityThe period for the last financial year was 01.07.2019-30.06.2020, while the current financial year covers the period from 01.07.2020-31.12.2020. Therefore, there is no direct comparability in the comparative figures.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 Entity, and the value of the asset can be measured reliably. Liabilities are recognised in the balance sheet when the Entity 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 Entity, and the value of the liability can be measured reliably. On initial recognition, assets and liabilities are measured at cost. Measurement subsequent to initial recognition is effected 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 and measurement. Income is recognised in the income statement when earned, whereas costs are recognised by the amounts attributable to this financial year.Gross profit or lossGross profit or loss comprises revenue and external expenses.RevenueRevenue consists of sale of software licenses and consultancy services. Revenue is recognised net of VAT, duties and sales discounts and is measured at fair value of the consideration fixed. The Company’s signed contracts are ​treated according to the rules of bundled contracts, and the value of each service is calculated prior to revenue recognition. ​ ​Revenue from consultancy services are recognized at the time of delivery. ​ ​Recognition of revenue from sale of software licenses requires an agreement with the client which creates enforceable rights and obligations between the parties, has commercial substance, and identifies payment terms. ​In addition, it must be probable that the consideration determined in the contract will be collected. ​ ​Revenue is recognized when the client has obtained control of the license or service and has the ability to use and ​obtain substantially all the benefits from the license or service. ​ ​ MIA Data has therefore assessed that the client obtains control of the license when all of the following criteria are met: a binding contract is entered into; the license is delivered; and the client has the right to use it. License revenue is therefore generally recognized at that point-in-time. ​ ​When the contract contains functionality gaps or requires client acceptance of functionality, the revenue recognition will be deferred until the time of delivery or acceptance. The consideration attributable to license fee in subscription-based agreements is discounted to net present value when the value of the financing element is deemed significant. ​ ​Revenue from hosting fees and support agreements is recognized on a straight-line basis over the contract period.Cost of salesCost of sales comprises goods consumed in the financial year measured at cost, adjusted for ordinary inventory writedowns.Other external expensesOther external expenses include expenses relating to the Entity’s ordinary activities, including expenses for premises, stationery and office supplies, marketing costs, etc. Staff costsStaff costs comprise salaries and wages, and social security contributions, pension contributions, etc for entity staff.Other financial incomeOther financial income comprises interest income, including interest income on receivables from group enterprises etc.Other financial expensesOther financial expenses comprise interest expenses.Tax on profit/loss for the yearTax 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 equity by the portion attributable to entries directly in equity.The Entity is jointly taxed with all Danish group enterprises. The current Danish income tax is allocated among the jointly taxed entities proportionally to their taxable income (full allocation with a refund concerning tax losses).ReceivablesReceivables are measured at amortised cost, usually equalling nominal value less writedowns for bad and doubtful debts.PrepaymentsPrepayments comprise incurred costs relating to subsequent financial years. Prepayments are measured at cost.CashCash comprises bank deposits.Deferred taxDeferred tax is recognised on all temporary differences between the carrying amount and the tax-based value of assets and liabilities, for which the tax-based value 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. Deferred tax relating to retaxation of previously deducted losses in foreign subsidiaries is recognised on the basis of an actual assessment of the purpose of each subsidiary.Other financial liabilitiesOther financial liabilities are measured at amortised cost, which usually corresponds to nominal value.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.Deferred incomeDeferred income comprises income received for recognition in subsequent financial years. Deferred income is measured at cost.2021-06-23Betina Charlotte Nygaard