36424540 2022-12-31 36424540 2021-12-31 36424540 2022-01-01 fsa:ContributedCapitalMember 36424540 2022-01-01 fsa:SharePremiumMember 36424540 2022-01-01 fsa:RetainedEarningsMember 36424540 2022-12-31 fsa:ContributedCapitalMember 36424540 2022-12-31 fsa:SharePremiumMember 36424540 2022-12-31 fsa:RetainedEarningsMember 36424540 2022-01-01 fsa:AcquiredPatentsMember 36424540 2022-12-31 fsa:AcquiredIntangibleAssetsMember 36424540 2022-01-01 fsa:FixturesFittingsToolsAndEquipmentMember 36424540 2022-01-01 fsa:LeaseholdImprovementsMember 36424540 2022-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 36424540 2022-12-31 fsa:LeaseholdImprovementsMember 36424540 2022-01-01 fsa:InvestmentsInGroupEnterprisesMember 36424540 2021-01-01 fsa:InvestmentsInGroupEnterprisesMember 36424540 2022-12-31 fsa:InvestmentsInGroupEnterprisesMember 36424540 2021-12-31 fsa:InvestmentsInGroupEnterprisesMember 36424540 2022-12-31 relatedEntityIdentifier_asso_list_1 fsa:SubsidiaryMember 36424540 2022-01-01 2022-12-31 36424540 2022-01-01 2022-12-31 1 36424540 2022-01-01 2022-12-31 memberOfBoardIdentifier_executive_board_1 36424540 2022-01-01 2022-12-31 memberOfBoardIdentifier_board_of_director_1 36424540 2022-01-01 2022-12-31 memberOfBoardIdentifier_board_of_director_2 36424540 2022-01-01 2022-12-31 memberOfBoardIdentifier_board_of_director_3 36424540 2022-01-01 2022-12-31 memberOfBoardIdentifier_board_of_director_4 36424540 2021-01-01 2021-12-31 36424540 2022-01-01 2022-12-31 fsa:RetainedEarningsMember 36424540 2021-01-01 2021-12-31 fsa:RetainedEarningsMember 36424540 2022-01-01 2022-12-31 fsa:ContributedCapitalMember 36424540 2022-01-01 2022-12-31 fsa:SharePremiumMember 36424540 2022-01-01 2022-12-31 fsa:RetainedEarningsMember 36424540 2022-01-01 2022-12-31 fsa:AcquiredIntangibleAssetsMember 36424540 2022-01-01 2022-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 36424540 2022-01-01 2022-12-31 fsa:LeaseholdImprovementsMember 36424540 2022-01-01 2022-12-31 relatedEntityIdentifier_asso_list_1 fsa:SubsidiaryMember iso4217:DKK pure Årsrapport 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Strandvejen 44 2900 Hellerup 2022-01-01 2021-01-01 2022-12-31 2021-12-31 36424540 Sensohive Technologies ApS Thomas B. Thriges Gade st .42, 5000 Odense C Odense 88441190 contact@sensohive.com 2014-11-04 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab 33771231 Munkebjergvænget 1, 3. og 4. sal 5230 Odense M Denmark 63 14 42 00 odense@pwc.dk 2023-05-25 Tobias Ejersbo Petersen Regnskabsklasse B Erklæring om udvidet gennemgang The Executive Board and Board of Directors have today considered and adopted the Financial Statements of Sensohive Technologies ApS for the financial year 1 January - 31 December 2022. The Annual Report is prepared in accordance with the Danish Financial Statements Act. In our opinion the Financial Statements give a true and fair view of the financial position at 31 December 2022 of the Company and of the results of the Company operations for 2022. We recommend that the Financial Statements be adopted at the Annual General Meeting. 2023-05-25 Odense Tobias Ejersbo Petersen CEO Lars Bong Mønsted Bruun Friis Chairman Kevin Tracy Yuers Casper Bernhøj Harlev Michael Voss-Jensen To the shareholders of Sensohive Technologies ApS Opinion We have performed an extended review of the Financial Statements of Sensohive Technologies ApS for the financial year 1 January - 31 December 2022, which comprise 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 the work performed, in our 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 in accordance with the Danish Financial Statements Act. Basis for Opinion We conducted our extended review in accordance with the Danish Business Authority´s Assurance Standard for Small Enterprises and FSR – Danish Auditors´ standard on extended review of financial statements prepared in accordance with the Danish Financial Statements Act. Our responsibilities under those standards and requirements are further described in the ”Practitioner´s responsibilities for the extended review of the Financial Statements” section of our report. We are independent of the Company 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 Company´s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting in preparing the Financial Statements unless Management either intends to liquidate the Company 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 in respect of our conclusion on the Financial Statements and, moreover, that we perform supplementary procedures specifically required to obtain additional assurance in respect of our conclusion. An extended review consists of making inquiries, primarily of Management and others within the enterprise, as appropriate, and applying analytical procedures and the supplementary procedures specifically required as well as assessing the evidence obtained. An extended review is less in scope than an audit and, consequently, we do not express an audit opinion on the Financial Statements. Odense M 2023-05-25 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Brian Petersen State Authorised Public Accountant mne33722 8600397 3982823 8266997 6705208 124712 49820 208688 -2772205 9789 19949 53374 24881 165103 -2777137 37907 -654624 127196 -2122513 127196 -2122513 50297 79576 50297 79576 201200 25385 121182 152122 322382 177507 1955606 1813466 4291440 2592988 1035064 1160643 12619509 7845380 13293788 8404063 50000 50000 251600 251600 301600 301600 674279 558683 1955606 1813466 668214 706121 0 165678 498563 143447 6493281 4768877 4170622 1263037 112525 105478 2800418 2090513 112525 105478 8709321 5216321 8821846 5321799 792400 594780 879124 396971 4471942 3082264 4471942 3082264 13293788 8404063 105478 0 5216321 7047 3365804 0 0 0 127196 0 -3365804 3365804 112525 0 8709321 The company's key activities are to develop, implement and sell self-produced products and services especially within sensor solutions to different industrial applications. 7471112 6050353 535440 414891 37868 36542 222577 203422 8266997 6705208 17 16 Gain on sale of sensor portfolio within food safety 600000 0 600000 0 As a part of the continued strategic increase on the construction industry, the sensor portfolio within food safety was sold off for a one-time payment of 600,000 DKK. This results in no further operational expenses for running servers, devices etc. for any of the sensors involved. 53374 24881 53374 24881 0 -165678 37907 -488946 37907 -654624 181280 181280 101704 29279 130983 50297 Amortised over 3 years 5 years 230026 154700 240308 0 470334 154700 204641 2578 64493 30940 269134 33518 201200 121182 3 - 5 years 5 years 50000 50000 50000 50000 Sensohive North America ApS Odense 100 31431 -216 Deferred income consists of payments received in respect of income in subsequent years. Rental and lease obligations Lease obligations under operating leases. Total future lease payments: Within 1 year 503,200 503,200 Between 1 and 5 years 1,970,028 2,012,800 After 5 years 0 460,428 2,473,228 2,976,428 Other contingent liabilities The group companies are jointly and severally liable for tax on the jointly taxed incomes etc of the Group. The total amount of corporation tax payable by the Group amounts to DKK 0. Moreover, the group companies are jointly and severally liable for Danish withholding taxes by way of dividend tax, tax on royalty payments and tax on unearned income. Any subsequent adjustments of corporation taxes and withholding taxes may increase the Group’s liability. The Annual Report of Sensohive Technologies ApS for 2022 has been prepared in accordance with the provisions of the Danish Financial Statements Act applying to enterprises of reporting class B as well as selected rules applying to reporting class C. The accounting policies applied remain unchanged from last year. The Financial Statements for 2022 are presented in DKK. With reference to section 110 of the Danish Financial Statements Act, no consolidated financial statements are prepared. 1 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 year 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 previously 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. All leases are considered operating leases. Payments made under operating leases are recognised in the income statement on a straight-line basis over the lease term. Transactions in foreign currencies are translated at the exchange rates at the dates of transaction. Exchange differences 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. Where foreign exchange transactions are considered hedging of future cash flows, the value adjustments are recognised directly in equity. 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 rates at the time when the receivable or the debt arose are recognised in financial income and expenses in the income statement. Fixed assets acquired in foreign currencies are measured at the transaction date rates. Revenue from the sale of goods is recognised when the risks and rewards relating to the goods sold have been transferred to the purchaser, the revenue can be measured reliably and it is probable that the economic benefits relating to the sale will flow to the Company. Revenue is measured at the consideration received and is recognised exclusive of VAT and net of discounts relating to sales. Expenses for raw materials and consumables comprise the raw materials and consumables consumed to achieve revenue for the year. Other external expenses comprise expenses for premises, sales as well as office expenses, etc. With reference to section 32 of the Danish Financial Statements Act, gross profit/loss is calculated as a summary of revenue, other operating income, expenses for raw materials and consumables and other external expenses. Staff expenses comprise wages and salaries as well as payroll expenses. Amortisation, depreciation and impairment losses comprise amortisation, depreciation and impairment of intangible assets and property, plant and equipment. Other operating income and other operating expenses comprise items of a secondary nature to the main activities of the Company, including gains and losses on the sale of intangible assets and property, plant and equipment. Dividends from subsidiaries are recognised as income in the income statement when adopted at the General Meeting of the subsidiary. However, dividends relating to earnings in the subsidiary before it was acquired by the Parent Company are set off against the cost of the subsidiary. Financial income and expenses are recognised in the income statement at the amounts relating to the financial year. Tax for the year consists of current tax for the year and changes in deferred tax for the year. The tax attributable to the profit for the year is recognised in the income statement, whereas the tax attributable to equity transactions is recognised directly in equity. Patents and licences are measured at the lower of cost less accumulated amortisation and recoverable amount. Patents are amortised over the remaining patent period, and licences are amortised over the licence period; however not exceeding 5 year. Property, plant and equipment are measured at cost less accumulated depreciation and less any accumulated impairment losses. Cost comprises the cost of acquisition and expenses directly related to the acquisition up until the time when the asset is ready for use. Depreciation based on cost reduced by any residual value is calculated on a straight-line basis over the expected useful lives of the assets, which are: Other fixtures and fittings, tools and equipment 3-5 years The fixed assets’ residual values are determined at nil. Depreciation period and residual value are reassessed annually. The carrying amounts of intangible assets and property, plant and equipment and investments are reviewed on an annual basis to determine whether there is any indication of impairment other than that expressed by amortisation and depreciation. If so, the asset is written down to its lower recoverable amount. Investments in subsidiaries are measured at cost. Where cost exceeds the recoverable amount, write-down is made to this lower value. Other fixed asset investments consist of deposits Inventories are measured at the lower of cost under the FIFO method and net realisable value. The net realisable value of inventories is calculated at the amount expected to be generated by sale of the inventories in the process of normal operations with deduction of selling expenses and costs of completion. The net realisable value is determined allowing for marketability, obsolescence and development in expected selling price. The cost of goods for resale, raw materials and consumables equals landed cost. The cost of finished goods and work in progress comprises the cost of raw materials, consumables and direct labour. 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. Prepayments comprise prepaid expenses concerning rent, insurance premiums, subscriptions and interest. 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 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 year 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. Deferred income comprises payments received in respect of income in subsequent years.