xbrli:pureiso4217:DKK260826682021-01-012021-12-31260826682021-01-012021-12-311260826682021-01-012021-12-311260826682021-01-012021-12-311260826682021-01-012021-12-312260826682021-01-012021-12-313260826682021-01-012021-12-314260826682021-01-012021-12-315260826682021-01-012021-12-31260826682020-01-012020-12-31260826682021-01-012021-12-31fsa:ProposedDividendRecognisedInEquityMember260826682020-01-012020-12-31fsa:ProposedDividendRecognisedInEquityMember260826682021-01-012021-12-31fsa:RetainedEarningsMember260826682020-01-012020-12-31fsa:RetainedEarningsMember260826682021-01-012021-12-31fsa:RetainedEarningsMember260826682021-01-012021-12-31fsa:ProposedDividendRecognisedInEquityMember260826682021-12-31260826682020-12-31260826682021-01-01260826682020-01-01260826682021-01-01fsa:ContributedCapitalMember260826682021-01-01fsa:ReserveForDevelopmentExpenditureMember260826682021-01-01fsa:RetainedEarningsMember260826682021-01-01fsa:ProposedDividendRecognisedInEquityMember260826682021-12-31fsa:ContributedCapitalMember260826682021-12-31fsa:ReserveForDevelopmentExpenditureMember260826682021-12-31fsa:RetainedEarningsMember260826682021-12-31fsa:ProposedDividendRecognisedInEquityMember260826682021-01-012021-12-31fsa:ReserveForDevelopmentExpenditureMember260826682021-01-012021-12-312260826682020-01-012020-12-312Grundlag for konklusionKonklusiontrue2022-05-042022-05-04339635562020-01-012020-12-31Esbjerg67018DokkenDeloitte Statsautoriseret RevisionspartnerselskabEsbjergEsbjerg6700Regnskabsklasse BErklæring om udvidet gennemgang2021-12-312021-01-01<br /><br />28Esbjerg BryggeWorkpoint A/S26082668339635562300 København SWeidekampsgade 6Deloitte Statsautoriseret RevisionspartnerselskabÅrsrapportThe Board of Directors and the Executive Board have today considered and approved the annual report of Workpoint A/S for the financial year 01.01.2021 - 31.12.2021.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 31.12.2021 and of the results of its operations and cash flows for the financial year 01.01.2021 - 31.12.2021.We believe that the management commentary contains a fair review of the affairs and conditions referred to therein.We recommend the annual report for adoption at the Annual General Meeting.EsbjergPeter Steen JørgensendirektørNiels Erik HedeagerClaus Jul ChristiansenEivind BergsmyrErik Hagen FjellværMartin Senning EriksenformandTo the shareholders of Workpoint A/SWe have performed an extended review of the financial statements of Workpoint A/S for the financial year 01.01.2021 - 31.12.2021, 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. Based on our extended review, in our opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.12.2021 and of the results of its operations and cash flows for the financial year 01.01.2021 - 31.12.2021 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’ International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. 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 conclusion 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.EsbjergJesper Smedegaard Larsenmne18510State Authorised Public AccountantPrimary activitiesThe primary object of the Company is to develop and sell software as well as service agreements.Development in activities and financesThe profit for 2021 is acceptable. In 2021, WorkPoint A/S continued to focus on and develop WorkPoint products. The products for handling documents as well as case and project management for many different industries are ready as WorkPoint 365 solutions. The financial year 2021 offered breakthroughs on several export markets as well as many new developments, and together with the financial results, 2021 is considered a satisfactory year. This development is expected to continue in 2022, with increased exports, more employees and further development of the products will lead to a performance that meets the level of 2021 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. 225264851834056016469846124706454997697331708110589422552834535649016917558941510207512472435-40000382803106075120896320500000106075115896321060751069355234795679693552347956798122947356075909673286871390808893443538384093443538384093825045159886654165525253775127000036900016742771082057450005000753017395321007424416882723752751502229779010133596251335962540007541701653718509847252669882449851255270055270052591723590094-234006374321050000055778665017115552700359009437432150000050171155527005259172-23400600131121801311218156580671320382830000007289387621110178038300211740262021968912218170179196891221948139725266988244985120-500000-5000001669078-1669078050013603317080-16586878561448440161514431362528969016-91087-89415-178037-387425418538713963538-6599844-4041739-606713-403543-59445-5365-7266002-4450647-30806159512891-5000000Reduction of lease commitments 0-154020-500000-154020-358061593588719779010133596251 Staff costs2021 DKK2020 DKKWages and salaries18,377,71114,726,144Pension costs1,372,8101,153,254Other social security costs246,473171,398Other staff costs2,665,852461,58822,662,84616,512,384Staff costs classified as assets(6,193,000)(4,041,739)16,469,84612,470,645Average number of full-time employees322732272 Depreciation, amortisation and impairment losses2021 DKK2020 DKKAmortisation of intangible assets4,460,0002,809,845Depreciation of property, plant and equipment537,697507,2364,997,6973,317,0813 Other financial income 2021 DKK2020 DKKFinancial income from group enterprises52,8969,016Other financial income668053,5649,0164 Other financial expenses2021 DKK2020 DKKOther interest expenses32,12139,899Exchange rate adjustments42,06132,789Other financial expenses17,57316,72791,75589,415<br />2021 DKK2020 DKKOther interest expenses32,12139,899Exchange rate adjustments42,06132,789Other financial expenses17,57316,72791,75589,4155 Tax on profit/loss for the year2021 DKK2020 DKKCurrent tax0178,038Change in deferred tax(40,000)204,765(40,000)382,8036 Intangible assetsCompleted development projects DKKCost beginning of year8,145,499Additions6,599,844Disposals(4,103,495)Cost end of year10,641,848Amortisation and impairment losses beginning of year(3,349,820)Amortisation for the year(4,460,000)Reversal regarding disposals4,103,495Amortisation and impairment losses end of year(3,706,325)Carrying amount end of year6,935,5237 Development projectsIn 2021, the company decided a captalise a part of the substantial development costs of TDKK 6,600 original from the product WorkPoint365.8 Property, plant and equipmentOther fixtures and fittings, tools and equipment DKKLeasehold improvements DKKCost beginning of year3,818,679122,924Additions606,7130Disposals(954,597)0Cost end of year3,470,795122,924Depreciation and impairment losses beginning of year(3,083,072)(49,638)Depreciation for the year(523,507)(14,190)Reversal regarding disposals948,0780Depreciation and impairment losses end of year(2,658,501)(63,828)Carrying amount end of year812,29459,0969 Financial assetsOther receivables DKKCost beginning of year384,093Additions59,445Cost end of year443,538Carrying amount end of year443,53810 Contract work in progress2021 DKK2020 DKKContract work in progress2,633,5932,143,787Progress billings regarding contract work in progress(2,663,593)(1,774,787)Transferred to liabilities other than provisions300,0000270,000369,00011 Share capitalNumberPar value DKKNominal value DKKOrdinary shares 5,527100552,7005,527552,70012 Changes in working capital2021 DKK2020 DKKIncrease/decrease in receivables(1,596,361)6,163,908Increase/decrease in trade payables etc(62,326)2,397,540(1,658,687)8,561,44813 Unrecognised rental and lease commitments2021 DKK2020 DKKLiabilities under rental or lease agreements until maturity in total1,894,0003,209,00014 Contingent liabilitiesThe Entity participates in a Danish joint taxation arrangement where Viking Venture 26 AS 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, and for obligations, if any, relating to the withholding of tax on interest, royalties and dividend 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 a few provisions for reporting class C.This annual report has been presented in accordance with the provisions of the Greenlandic Financial Statements Act governing reporting class B enterprises with addition of a few provisions for reporting class C.The accounting policies applied to these financial statements are consistent with those applied last year.falseGross profit or lossGross profit or loss comprises revenue, changes in inventories of finished goods and work in progress, own work capitalised, other operating income, cost of raw materials and consumables and external expenses.Revenue Revenue from the sale of services is recognised in the income statement when delivery is made to the buyer. Revenue is recognised net of VAT, duties and sales discounts and is measured at fair value of the consideration fixed.Contract work in progress is included in revenue based on the stage of completion so that revenue corresponds to the selling price of the work performed in the financial year (the percentage-of-completion method).Costs of raw materials and consumablesCosts of raw materials and consumables comprise the consumption of raw materials and consumables for the financial year after adjustment for changes in inventories of these goods from the beginning to the end of the year. This item includes shrinkage, if any, and ordinary writedowns of the relevant inventories.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. This item also includes writedowns of receivables recognised in current assets.Staff costsStaff costs comprise salaries and wages, and social security contributions, pension contributions, etc for entity staff.Depreciation, amortisation and impairment lossesDepreciation, amortisation and impairment losses relating to property, plant and equipment and intangible assets comprise depreciation, amortisation and impairment losses for the financial year, and gains and losses from the sale of intangible assets and property, plant and equipment. Other financial incomeOther financial income comprises dividends etc received on other investments, interest income, including interest income on receivables from group enterprises, net capital or exchange gains on securities, payables and transactions in foreign currencies, amortisation of financial assets, and tax relief under the Danish Tax Prepayment Scheme etc.Other financial expensesOther financial expenses comprise interest expenses, including interest expenses on payables to group enterprises, net capital or exchange losses on securities, payables and transactions in foreign currencies, amortisation of financial liabilities, and tax surcharge under the Danish Tax Prepayment Scheme etc.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).Intellectual property rights etcIntellectual property rights etc comprise development projects completed and in progress 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 projects as intangible assets, an amount equalling the costs incurred less deferred tax is taken to equity under Reserve for development costs that is reduced as the development projects are amortised and written down. ​ ​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 their estimated useful lives . The amortisation periods used are up to three years. Property, plant and equipmentOther fixtures and fittings, tools and equipment are measures at cost less accumalted depreciation and imairment 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 to be put into operation. For assets held under finance leases, cost is the lower of the asset’s fair value and present value of future lease payments. 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 equipment3-7 yearsLeasehold improvements3 yearsEstimated useful lives and residual values are reassessed annually. Items of 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 writedowns for bad and doubtful debts.Contract work in progressContract work in progress is measured at the selling price of the work carried out at the balance sheet date. The selling price is measured based on the stage of completion and the total estimated income from the individual contracts in progress. Usually, the stage of completion is determined as the ratio of actual to total budgeted consumption of resources.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.PrepaymentsPrepayments comprise incurred costs relating to subsequent financial years. Prepayments are measured at cost.CashCash comprises cash in hand and bank deposits.DividendDividend is recognised as a liability at the time of adoption at the general meeting. Proposed dividend for the financial year is disclosed as a separate item in equity. Extraordinary dividend adopted in the financial year is recognised directly in equity when distributed and disclosed as a separate item in Management's proposal for distribution of profit/loss.Other financial liabilitiesOther financial liabilities are measured at amortised cost, which usually corresponds to nominal value.Prepayments received from customersPrepayments received from customers comprise amounts received from customers prior to the time of delivery. Tax receivable or payableCurrent tax receivable or payable is recognised in the balance sheet, stated as tax computed on this year's taxable income, adjusted for prepaid tax.Cash flow statementThe cash flow statement shows cash flows from operating, investing and financing activities, and cash and cash equivalents at the beginning and the end of the financial year. Cash flows from operating activities are presented using the indirect method and calculated as the operating profit/loss adjusted for non-cash operating items, working capital changes and income taxes paid. Cash flows from investing activities comprise payments in connection with acquisition and divestment of enterprises, activities and fixed asset investments, and purchase, development, improvement and sale, etc of intangible assets and property, plant and equipment, including acquisition of assets held under finance leases. Cash flows from financing activities comprise changes in the size or composition of the contributed capital and related costs as well as the raising of loans, inception of finance leases, repayments of interest-bearing debt, purchase of treasury shares and payment of dividend. Cash and cash equivalents comprise cash and short-term securities with an insignificant price risk less short-term bank loans.The cash flow statement shows cash flows from operating, investing and financing activities, and cash and cash equivalents at the beginning and the end of the financial year. Cash flows from operating activities are presented using the indirect method and calculated as the operating profit/loss adjusted for non-cash operating items, working capital changes and income taxes paid. Cash flows from investing activities comprise payments in connection with acquisition and divestment of enterprises, activities and fixed asset investments, and purchase, development, improvement and sale, etc of intangible assets and property, plant and equipment, including acquisition of assets held under finance leases. Cash flows from financing activities comprise changes in the size or composition of the contributed capital and related costs as well as the raising of loans, inception of finance leases, repayments of interest-bearing debt, purchase of treasury shares and payment of dividend. Cash and cash equivalents comprise cash and short-term securities with an insignificant price risk less short-term bank loans.2022-05-04Peter Steen Jørgensen