xbrli:pureiso4217:DKK358361012023-07-012024-06-30358361012023-07-012024-06-301358361012023-07-012024-06-301358361012023-07-012024-06-301358361012023-07-012024-06-302358361012023-07-012024-06-303358361012023-07-012024-06-304358361012023-07-012024-06-30358361012022-07-012023-06-30358361012023-07-012024-06-30fsa:RetainedEarningsMember358361012023-07-012024-06-30fsa:ProposedDividendRecognisedInEquityMember358361012024-06-30358361012023-06-30358361012023-07-01fsa:ContributedCapitalMember358361012023-07-01fsa:RevaluationReserveMember358361012023-07-01fsa:RetainedEarningsMember358361012023-07-01fsa:ProposedDividendRecognisedInEquityMember358361012023-07-01358361012024-06-30fsa:ContributedCapitalMember358361012024-06-30fsa:RevaluationReserveMember358361012024-06-30fsa:RetainedEarningsMember358361012024-06-30fsa:ProposedDividendRecognisedInEquityMember358361012023-07-012024-06-30fsa:ContributedCapitalMember358361012023-07-012024-06-30fsa:RevaluationReserveMemberGrundlag for konklusionKonklusion2024-11-262024-11-26true2022-07-012023-06-3033963556København S23006WeidekampsgadeDeloitte Statsautoriseret RevisionspartnerselskabGladsaxeSøborg2860Regnskabsklasse BErklæring om udvidet gennemgang2024-06-302023-07-013<br /><br />8TelefonvejCN3 Group ApS35836101339635562300 København SWeidekampsgade 6Deloitte Statsautoriseret RevisionspartnerselskabÅrsrapportThe Board of Directors and the Executive Board have today considered and approved the annual report of CN3 Group ApS for the financial year 01.07.2023 - 30.06.2024.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 30.06.2024 and of the results of its operations for the financial year 01.07.2023 - 30.06.2024.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.SøborgRolf CarlsenMichael Gauguin Houghton-LarsenJørgen Vilhelm Løvenørn BardenflethRolf CarlsenDan Højgaard JensenTo the shareholders of CN3 Group ApSWe have performed an extended review of the financial statements of CN3 Group ApS for the ​financial year 01.07.2023 - 30.06.2024, 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 30.06.2024 and of the results of its operations for the financial year 01.07.2023 - 30.06.2024 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 by relevant law and regulations.<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 in the relevant law and regulations. We did not identify any material misstatement of the management commentary.CopenhagenRené Winther Pedersenmne34173State Authorised Public AccountantPrimary activitiesThe principal activities comprise investments in group enterprises.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.Treasury sharesNumber Nominal value DKKRecorded par value DKKShare of contributed capital % Treasury shares1,4851,4851,4852.65Holding of treasury shares 1,4851,4851,4852.651105666-4956515409800254375951568-3039405160698510000058588810703961181244789902231631-1225958864934802161-2113507800000080000005100000-2113507-29783910150183791745250101501837917452501015018379174525097462579967017500023817462161233563712765792800925591695361572966193532107659133979387825600056000852617847562778411385926133645701047037109414835456000756277841336457051000009414835456000852617841138592680000002434594858017878377326133779353187502810750350000032329603420463781075295542337904281076591339793878213524101352410-5100000-510000000-3780-378963400096340001 Staff costs2023/24 DKK2022/23 DKKWages and salaries135,0000Pension costs18,9000Other social security costs1980154,0980Number of employees at balance sheet date10Average number of full-time employees1010102 Other financial income 2023/24 DKK2022/23 DKKFinancial income from group enterprises801792Other interest income4,9510Exchange rate adjustments106895,8588813 Tax on profit/loss for the year2023/24 DKK2022/23 DKKCurrent tax231,6310Refund in joint taxation arrangement0(12,259)231,631(12,259)4 Financial assetsInvestments in group enterprises DKKCost beginning of year16,117,466Exchange rate adjustments(378)Additions136,628Disposals(13,663)Cost end of year16,240,053Revaluations beginning of year75,627,784Revaluations for the year9,634,000Revaluations end of year85,261,784Carrying amount end of year101,501,837Carrying amount if assets had not been revalued 16,240,053 The investments in group enterprises are cf. the accounting policies, recognised and measured at fair value, which in nature are characterised by uncertainity as a result of the calculation based on a Discounted Cash Flow valuation model, which contains elements of estimation. 5 Non-current liabilities other than provisionsDue after more than 12 months 2023/24 DKKIncome tax payable2,434,594Joint taxation contribution payable178,7832,613,3776 Contingent liabilitiesThe Entity has an obligation to buy the shares from group employee shareholders, which price depends on the scenario in which the group employee shareholder resigns in the subsidiary. If the employee resign as a "good leaver", the Entity will have to pay shareholder's share of the equity reduced by dividend. However, the price cannot exceed retained earnings. On the balance sheet date, 12.42 % of the shareholders were group employee shareholders.The Entity serves as the administration company in a Danish joint taxation arrangement. 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 these entities.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.The accounting policies applied to these financial statements are consistent with those applied last year.falseRecognition 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 other external expenses.RevenueRevenue 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.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.Other operating expensesOther operating expenses comprise expenses of a secondary nature as viewed in relation to the Entity’s primary activities.Income from investments in group enterprisesIncome from investments in group enterprises comprises dividends etc. received from the individual group enterprises in the financial year.Other financial incomeOther financial income comprises interest income, including interest income on receivables from group enterprises, 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, 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).Investments in group enterprisesInvestments in group enterprises are recognised and measured at fair value. The fair value is calculated based on a Discounted Cash Flow valuation model, where the fair value is partly based on the value of the future cash flows in a 5-year budget period and partly on the value in the terminal period, which is after the budget period. Revaluations of capital shares in subsidiaries are recognized in equity in the reserve for revaluations, to the extent that the fair value exceeds the cost price. When buying companies, the takeover method is used with revaluation of all identified assets and liabilities at fair value on the acquisition date. The fair value is calculated on the basis of trades on an actively marked, alternatively calculated using generally accepted valuation models.ReceivablesReceivables are measured at amortised cost, usually equalling nominal value less writedowns for bad and doubtful debts.Joint taxation contributions receivable or payableCurrent joint taxation contributions payable or joint taxation contributions receivable are recognised in the balance sheet, calculated as tax computed on the taxable income for 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.<br />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.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. Treasury sharesAcquisition and selling prices and dividends for treasury shares are classified directly as equity in retained earnings. Gains and losses on sale are not recognised in the income statement. Other financial liabilitiesOther financial liabilities are measured at amortised cost, which usually corresponds to nominal value.2024-11-26Dan Højgaard Jensen