Årsrapport34209936Grant Thornton, Statsautoriseret RevisionspartnerselskabStockholmsgade, 452100, København Ø2021-01-012021-12-312022-01-012022-12-3139728214Opticos Denmark ApSLinnésgade25, kl.1361København KGrant Thornton, Statsautoriseret Revisionspartnerselskab34209936Martin S. Haaningstatsautoriseret revisormne32793Stockholmsgade452100København ØDanmark+45 33 110 220info@dk.gt.com2023-06-29Sven Fredrik Fender HallbergRegnskabsklasse BAndre erklæringer uden sikkerhedCaseWare fra Revisorgruppen DanmarkanpartshaverneKøbenhavn2023-06-29København K2023-06-29-67802-732350-69170219946-67802-2862647550205322349703-45523-335967-45523-335967-45523-3359673313273313273541588733486833721418604424515252091258236652091258236605000050000-1785473-1739950-1735473-168995029345203972227040222381802810122563852272316225638522723165209125823660-96920888018870-6917015062347646260020575322349703Today, the Managing Director has approved the annual report of Opticos Denmark ApS for the financial year 1 January - 31 December 2022. The annual report has been prepared in accordance with the Danish Financial Statements Act. I consider the chosen accounting policy to be appropriate, and in my opinion, the financial statements give a true and fair view of the financial position of the Company at 31 December 2022 and of the results of the Company's operations for the financial year 1 January – 31 December 2022. The Managing Director consider the conditions for audit exemption of the 2022 financial statements to be met. Further, in my opinion, the Management's review gives a true and fair review of the matters discussed in the Management's review. We recommend that the annual report be approved at the Annual General Meeting. Sven Fredrik Fender HallbergWe have compiled the financial statements of Opticos Denmark ApS for the financial year 1 January - 31 December 2022 based on the company's bookkeeping and on information you have provided. These financial statements comprise a summary of significant accounting policies, income statement, balance sheet and notes. We performed this compilation engagement in accordance with International Standard on Related Services 4410 (Revised), Compilation Engagements. We have applied our expertise in accounting and financial reporting to assist Management in the preparation and presentation of these financial statements in accordance with the Danish Financial Statements Act. We have complied with relevant requirements under the Danish Act on Approved Auditors and Audit Firms and International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code) including principles of integrity, objectivity, professional competence and due care. These financial statements and the accuracy and completeness of the information used to compile them are your responsibility. Since a compilation engagement is not an assurance engagement, we are not required to verify the accuracy or completeness of the information you provided to us to compile these financial statements. Accordingly, we do not express an audit opinion or a review conclusion on whether these financial statements are prepared in accordance with the Danish Financial Statements Act. Description of key activities of the company Like previous years, the activities of the company are management consultancy services, mainly focused around IT-enabled business transformation and sourcing advisory services. There has not been any activity in the Danish company during the year, but the management expect to start up activity again in the coming years. Development in activities and financial matters The gross loss for the year totals DKK -67.802 against DKK -73.235 last year. Income or loss from ordinary activities after tax totals DKK -45.523 against DKK -335.967 last year. Uncertainties concerning Opticos Denmark ApS’ ability to continue as a going concern The management is aware of the rules regarding lost contributed capital. The company's activity is supported by the parent company with a letter of support. The management therefore presents the accounts as going concern. General about the business of Opticos Group Opticos Group is a Nordic high-profile and future-oriented management consultancy firm, offering IT enabled business transformation, IT strategy and sourcing advisory services. Mission: "Creating shared value and making the difference for our clients, our people and our community. Vision: "The firm of choice for IT enabled business transformation and sourcing advisory services. 2022 is our twelfth annual report. We have managed to increase sales with 34% to a turnover of 115 MSEK for the full year, which is exceeding our original budget for the with 5 MSEK. The turnover in the production companies is distributed between Gothenburg (40 MSEK), Stockholm (59 MSEK) and the Group headquarters which had a 16 MSEK turnover. We have engaged approx. 70 consultants (full-time equivalents) and had a net increase of twelve (12) employed consultants, in accordance with our strategy to increase the share of employed staff in the company. At year-end, we were 60 employees within the group, and the remaining are associated partners to Opticos. Group headquarter is in Gothenburg, Sweden. 2023 Group forecast 2022 is Opticos Group thirteens year in business, where we are planning for a turn-over of 125 MSEK, with an 10 % ROI (EBITDA) at group level. That corresponds to a 10% growth compared to 2022. We plan to close 2023 with +70 employed consultants, divided between our Nordic offices in Gothenburg, Stockholm and Copenhagen/Öresund, and our office in Bangalore, India. Our continued expansion will continue to build upon our three capability areas: Digital transformation IT Strategy Sourcing & Procurement but also include the new capability “Business Strategy” Mainly within the sectors: Manufacturing Financial Services The annual report for Opticos Denmark ApS has been presented in accordance with the Danish Financial Statements Act regulations concerning reporting class B enterprises. Changes in the accounting policies An error has been identified in the comparative figures regarding the company's classification of trade receivables and trade payables. This means that there has been a change in the comparative figures, and trade receivables are now classified as receivables from group enterprises. Additionally, the trade payables amount of 985,204 DKK is now classified as payables to group enterprises. This change has not had any monetary effect. Except for the above, the accounting policies remain unchanged from last year. The comparative figures have been adjusted to the changed accounting policies. Foreign currency translation Transactions in foreign currency are translated by using the exchange rate prevailing at the date of the transaction. Differences in the rate of exchange arising between the rate at the date of transaction and the rate at the date of payment are recognised in the profit and loss account as an item under net financials. If currency positions are considered to hedge future cash flows, the value adjustments are recognised directly in equity in a fair value reserve. Receivables, payables, and other foreign currency monetary items are translated using the closing rate. The difference between the closing rate and the rate at the time of the occurrence or initial recognition in the latest financial statements of the receivable or payable is recognised in the income statement under financial income and expenses. Fixed assets acquired and paid for in foreign currency are measured at the exchange rate prevailing at the date of the transaction. Group enterprises abroad, associates, and equity investments are considered to be independent entities. The income statements are translated at an average exchange rate for the month, and the balance sheet items are translated at the closing rates. Currency translation differences, arising from the translation of the equity of group enterprises abroad at the beginning of the year to the closing rate and from the translation of income statements from average prices to the closing rate, are recognised directly in equity in the fair value reserve in the Consolidated Financial Statement. This also applies to differences arising from translation of income statements from average exchange rate to closing rate. Translation adjustment of balances with group enterprises abroad that are considered part of the total investment in group enterprises are recognised directly in equity in the fair value reserve. Likewise, foreign exchange gains and losses on loans and derived financial instruments for currency hedging independent group enterprises abroad are recognised directly in equity. When recognising foreign group enterprises which are integral units, the monetary items are translated using the closing rate. Non-monetary items are translated using the exchange rate prevailing at the time of acquisition or at the time of the subsequent revaluation or write-down for impairment of the asset. Income statement items are translated using the exchange rate prevailing at the date of the transaction. However, items in the income statement derived from non-monetary items are translated using historical prices. Gross loss Gross loss comprises other operating income, and external costs. The enterprise will be applying IAS 11 and IAS 18 as its basis of interpretation for the recognition of revenue. Other operating income comprises items of a secondary nature as regards the principal activities of the enterprise, including profit from the disposal of intangible and tangible assets, operating loss and conflict compensation as well as salary reimbursements received. Furthermore, this item comprises received subsidies, damages, and compensation due to the coronavirus situation. Compensation is recognized when it is overwhelmingly probable that the company will receive the compensation. Other external expenses comprise expenses incurred for administration. Staff costs Staff costs include salaries and wages, including holiday allowances, pensions, and other social security costs, etc., for staff members. Other operating expenses Other operating expenses comprise items of secondary nature as regards the principal activities of the enterprise, including losses on the disposal of intangible and tangible assets. Financial income and expenses Financial income and expenses are recognised in the income statement with the amounts concerning the financial year. Financial income and expenses comprise interest income and expenses, debt and transactions in foreign currency, amortisation of financial assets and liabilities as well as surcharges and reimbursements under the advance tax scheme, etc. Tax on net profit or loss for the year Tax for the year comprises the current income tax for the year and changes in deferred tax and is recognised in the income statement with the share attributable to the net profit or loss for the year and directly in equity with the share attributable to entries directly in equity. Receivables Receivables are measured at amortised cost, which usually corresponds to nominal value. In order to meet expected losses, impairment takes place at the net realisable value. The company has chosen to use IAS 39 as a basis for interpretation when recognising impairment of financial assets, which means that impairments must be made to offset losses where an objective indication is deemed to have occurred that an account receivable or a portfolio of accounts receivable is impaired. If an objective indication shows that an individual account receivable has been impaired, an impairment takes place at individual level. Accounts receivable for which there is no objective indication of impairment at the individual level are evaluated at portfolio level for objective indication of impairment. The portfolios are primarily based on the debtors' domicile and credit rating in accordance with the company's and the group's credit risk management policy. Determination of the objective indicators applied for portfolios are based on experience with historical losses. Cash and cash equivalents Cash and cash equivalents comprise cash at bank. Liabilities other than provisions Other liabilities concerning payables to suppliers, group enterprises, and other payables are measured at amortised cost which usually corresponds to the nominal value. 1. Uncertainties relating to going concern The management is aware of the rules regarding lost contributed capital. The company's activity is supported by the parent company with a letter of support. The management therefore presents the accounts as going concern. 2. Special items Special items include significant income and expenses of a special nature relative to the enterprise's ordinary operating activities, such as the cost of extensive structuring of processes and fundamental structural adjustments and any related gains on disposal and losses which, over time, have a significant impact. Special items also include other significant amounts of a nonrecurring nature. As mentioned in the management commentary, the net profit or loss for the year is affected by a number of factors that differ from what is considered by management to be part of operating activities. Special items for the year are specified below, indicating where they are recognised in the income statement. 2022 2021 Income: COVID-19 compensation 258 0 258 0 Special items are recognised in the following items in the financial statements: Other operating income 258 0 Profit of special items, net 258 0 397282142022-01-012022-12-31397282142021-01-012021-12-31397282142021-12-31397282142022-12-31397282142022-01-012022-12-311397282142022-01-012022-12-311397282142022-01-012022-12-31e:RetainedEarningsMember397282142021-01-012021-12-31e:RetainedEarningsMemberiso4217:DKKxbrli:pure