Direktionen har dags dato behandlet og godkendt årsrapporten for regnskabsåret 1. januar - 31. december 2021 for Fazsion Group ApS.The executive board has today discussed and approved the annual report of Fazsion Group ApS for the financial year 1 January - 31 December 2021.Årsrapporten aflægges i overensstemmelse med årsregnskabsloven.The annual report is prepared in accordance with the Danish Financial Statements Act.Det er vores opfattelse, at årsregnskabet giver et retvisende billede af selskabets aktiver, passiver og finansielle stilling pr. 31. december 2021 og resultatet af selskabets aktiviteter for regnskabsåret 1. januar - 31. december 2021.In our opinion, the financial statements give a true and fair view of the company's financial position at 31 December 2021 and of the results of the company's operations for the financial year 1 January - 31 December 2021.Ledelsesberetningen indeholder efter vores opfattelse en retvisende redegørelse for de forhold, beretningen omhandler.In our opinion, management's review includes a fair review of the matters dealt with in the management's review.Årsregnskabet er ikke revideret. Ledelsen erklærer, at betingelserne herfor er opfyldt.The financial statements have not been audited. Management considers the criteria for not auditing the financial statements to be met.Årsrapporten indstilles til generalforsamlingens godkendelse.Management recommends that the annual report should be approved by the company in general meeting.Bo Holm HansendirektørBrian Qvist SørensendirektørHenrik SørensendirektørSelskabets væsentligste aktiviteter Selskabets formål er, direkte eller via kapitalandele i andre selskaber, at drive salg af tøj i Afrika; hovedsageligt igennem distributionskanalerne •Egen online platform •Andres online platform fx. Jumia, Konga osv. •Egne sælger/agenter, som sælger til engros og detail •Detailkæder, fx Spar, Hubmart og andre •Virksomhedsaftaler og deres ansatte •Affiliateaftaler såsom studerende osv. •Fazsion outlet Produkterne er hovedsageligt danske men også europæiske brands. En naturlig udvikling af vores forretning vil være at tilføje parfume/kosmetik og homeware til vores produktportefølje.Business review The Company’s purpose is, either direct or through equity investments in third party companies, to sell clothes, mainly through, the below described distribution channels: •Fazsion’s own online platform •Third party online platforms, Ex. Jumia, Konga and others •Fazsion agents/sales force, selling to wholesale and to retail •Retail chains, Ex. Spar, Hubmart and others •Corporate agreements, employees get a discount. •Affiliated marketing, through student network, banks etc. •Fazsion outlet The products are mainly Danish Produced, but we also sell European brands. As we are in the fashion segment, the natural development of our business will be to add, perfume/cosmetics and homeware to our product portfolio.Udviklingen i aktiviteter og økonomiske forhold Selskabets resultatopgørelse for 2021 udviser et overskud på kr. 30.602, og selskabets balance pr. 31. december 2021 udviser en egenkapital på kr. 564.053. Selskabet har lagt en business plan “We belie- ve in Africa”, som bliver fulgt. Selskabet er således klar til at sætte fuld fat på deres vækstplaner i 2022.Financial review The company's income statement for the year ended 31 December 2021 shows a profit of kr. 30.602, and the balance sheet at 31 December 2021 shows equity of kr. 564.053. The company has set up a businessplan “We believe in Africa”, which will be followed. The company is thus ready to fully implement their growth plans in 2022. Betydningsfulde hændelser, som er indtruffet efter regnskabsårets afslutning Det forventes, at selskabet er selvfinansierende af driften, og yderligere tilførsel af penge er udelukkende til arbejdskapitalen.Significant events occurring after the end of the financial year No significant events occurring after end of reporting period It is expected that the company will be self-financing from operations by summer 2021 and futher funding exclusively added to the working capital.Virksomhedens forventede udvikling, herunder særlige forudsætninger og usikre faktorer Hovedsædet for virksomhedens aktivitet i Afrika er i Lagos i Nigeria, og det medfører lidt andre udfordringer end normalt, da der er en del korruption. Det er ikke noget, der påvirker Fazsion direkte, da vi enten sælger direkte til forbrugerne eller gennem internationale samarbejdspartnere, hvor forholdende er i orden. Den politiske situation er stabil og har været det i mange år. Der er demokratiske valg (sidst i 2019). Nigeria er den største økonomi i Afrika og bliver som sådan set som foregangsland for de andre afrikanske lande.Expected development of the company, including specific prerequisites and uncertainties The headquarters of the company's activities is in Lagos/Nigeria, this leads to some slightly different challenges than usual, there is quite a lot of corruption, it has no impact on the company, as we sell direct to the end consumer, or through our international partners, that live up to European standards. The political situation is stable and has been for many years. latest democratic election was in 2019. Nigeria is the largest economy in Africa and is seen as a pioneer for the other African countries.Vidensressourcer og medarbejderforhold Den væsentligste vidensressource er medarbejdere, og det er en del af business planen at videreudvikle medarbejderne og tage et socialt ansvar. Vores ledelsesteam er følgende: Bo Holm - CEO, har erfaring i e-commers opstart og business Development, har tidligere startet virksomheder og lavet produktion i både Kina og Vietnam og har indtil for 3 år siden været involveret i et mobilpay firma in Nigeria (bancore). Ochije Nnani - Country manager/partner, har før han startede hos Fazsion, været med i opstarten af Konga, for senere at skifte til hvor han til Jumia (største C2C platform i Afrika) hvor han frem til hans fratrædelse sad som fashion direktør. Jennifer Omage er økonomiansvarlig, hun er uddannet revisor. Hun startede med at overse økonomi, men da lager og økonomi er stærkt forbundet, er hun ansvarlig for begge pt. Hun har været med næsten fra starten, så hun er godt inde i de forskellige processer. Tobi - sales agent manager Han er sales agent manager dvs. hun lægger strategi og eksekverer salg for vores salgsagenter. Han står for expansion af netværket. Han kommer fra Jumia, hvor han har været sales agent manager, og har stået for Jumia agent netværk på 15.000 sælgere.Knowledge resources The key source of knowledge resource is our employees, and part of our business plan is to extend this ressource by taking a social responsibility and educate our employees. Our management team is as follow Bo Holm - CEO, experienced in e-commerce, has been involved in multiple upstarts and business development, has produced in China and Vietnam, and prior to Fazsion, he was founder of a mobilepay company in Nigeria (Bancore) Ochije Nnani, before joining Fazsion, he has been a part of launching both Konga and Jumia (biggest C2C platform in Africa) in the latter, he held the position as fashion director, prior to his engagement in Fazsion. Jennifer Omage is our head of finance, she is a trained accountant. She started out by overlooking finances, but the stock and finances are closly connected so she is responsible for both pt. She has been involved in the company almost from the start, so she is well into the different processes, in warehouse and in logistics. Tobi -is our sales manager, helping with strategy and execute sales. He is in charge of our sales agents and are responsible for expansion of the network. Tobi is also ex Jumia, he has been sales agent manager, and helped build Jumia's vast network of 15.000 agents. I 2021 har vi ændret i organisation og tilpasset organisation så vi har 26 medarbejder incl. salgsagenter. Derudover har vi udarbejdet vores politik, som i hovedtræk er: •Tager afstand fra alle former for korruption, bestikkelse og afpresning •Overholder gældende lovgivning i de markeder selskabet er til stede •Overholder gældende Menneskerettigheds- og arbejdstagerrettigheder, som er godkendt af FN eller andre relevante internationale organisationer og ratificeret af Danmark •Tolererer ikke diskrimination eller latterliggørelse på grund af race, hudfarve, køn, seksuel orientering, alder, handicap, sprog, religion, politisk overbevisning, kulturel baggrund eller etnicitet •Respekterer medarbejdernes forenings- og forhandlingsret samt retten til medlemskab af faglige organisationer og/eller til at indgå i selskabets bestyrelse eller afstå herfra. In 2021, we have changed in organization and adapted organization so we have 26 employees incl. sales agents. Formel company policy •We denounce all kind of corruption, bribe andextortion •We abide all rules and regulations of the local legislation •We abide by the human rights act and employees’ regulation, sanctioned by the UN or other relevant organizations ratified under Denmark •We will not tolerate discrimination or ridicule on basis of race, gender, sex, color, sexual orientation, religion cultural or political background •We respect the employees’ rights to join and form unions and select representatives to represent them.Årsrapporten for Fazsion Group ApS for 2021 er aflagt i overensstemmelse med årsregnskabslovens bestemmelser for virksomheder i regnskabsklasse B med tilvalg af regler fra regnskabsklasse C. Den anvendte regnskabspraksis er uændret i forhold til sidste år. Årsrapporten for 2021 er aflagt i kr.The annual report of Fazsion Group ApS for 2021 has been prepared in accordance with the provisions of the Danish Financial Statements Act applying to enterprises of reporting class B, as well as provisions applying to reporting class C entities. The accounting policies applied are consistent with those of last year. The annual report for 2021 is presented in kr.Selskabet har i henhold til årsregnskabslovens §110, stk. 1 undladt at udarbejde koncernregnskab.Pursuant to sections §110 subsection 1, of the Danish Financial Statements Act, the company has not prepared consolidated financial statements.I resultatopgørelsen indregnes indtægter i takt med, at de indtjenes. Herudover indregnes værdireguleringer af finansielle aktiver og forpligtelser. I resultatopgørelsen indregnes ligeledes alle omkostninger, herunder afskrivninger og nedskrivninger. Aktiver indregnes i balancen, når det er sandsynligt, at fremtidige økonomiske fordele vil tilflyde selskabet, og aktivets værdi kan måles pålideligt. Forpligtelser indregnes i balancen, når det er sandsynligt, at fremtidige økonomiske fordele vil fragå selskabet, og forpligtelsens værdi kan måles pålideligt. Ved første indregning måles aktiver og forpligtelser til kostpris. Efterfølgende måles aktiver og forpligtelser som beskrevet for hver enkelt regnskabspost nedenfor. Visse finansielle aktiver og forpligtelser måles til amortiseret kostpris, hvorved der indregnes en konstant effektiv rente over løbetiden. Amortiseret kostpris opgøres som oprindelig kostpris med fradrag af eventuelle afdrag samt tillæg/fradrag af den akkumulerede amortisering af forskellen mellem kostpris og nominelt beløb. Ved indregning og måling tages hensyn til forudsigelige tab og risici, der fremkommer, inden årsrapporten aflægges, og som be- eller afkræfter forhold, der eksisterede på balancedagen.Income is recognised in the income statement as earned, including value adjustments of financial assets and liabilities. All expenses, including amortisation, depreciation and impairment losses, are also recognised in the income statement. Assets are recognised in the balance sheet when it is probable that future economic benefits 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 from the company and the value of the liability can be measured reliably. On initial recognition, assets and liabilities are measured at cost. On subsequent recognition, assets and liabilities are measured as described below for each individual accounting item. Certain financial assets and liabilities are measured at amortised cost using the effective interest method. Amortised cost is calculated as the historic cost less any installments and plus/less the accumulated amortisation of the difference between the cost and the nominal amount. On recognition and measurement, allowance is made for predictable losses and risks which occur before the annual report is presented and which confirm or invalidate matters existing at the balance sheet date.Selskabet anvender bestemmelsen i årsregnskabslovens § 32, hvorefter selskabets omsætning ikke er oplyst. Bruttotab er et sammendrag af nettoomsætning, med fradrag af omkostninger til råvarer og hjælpematerialer og andre eksterne omkostninger.In pursuance of section 32 of the Danish Financial Statements Act, the company does not disclose its revenue. Gross profit reflects an aggregation of revenue, changes in inventories of finished goods and work in progress and other operating income less costs of raw materials and consumables and other external expenses.Indtægter fra salg af handelsvarer og færdigvarer, indregnes i resultatopgørelsen, når levering og risikoovergang til køber har fundet sted, og hvis indtægten kan opgøres pålideligt og forventes modtaget.Income from the sale of goods for resale and finished goods is recognised in the income statement, provided that the transfer of risk, usually on delivery to the buyer, has taken place and that the income can be measured reliably and is expected to be received.Omkostninger til råvarer og hjælpematerialer indeholder det forbrug af råvarer og hjælpematerialer, der er anvendt for at opnå årets nettoomsætning.Costs of raw materials and consumables include the raw materials and consumables used in generating the year’s revenue.Andre eksterne omkostninger omfatter omkostninger til distribution, salg, reklame, administration, lokaler, tab på debitorer, operationelle leasingomkostninger mv.Other external costs include expenses related to distribution, sale, advertising, administration, premises, bad debts, payments under operating leases, etc.Finansielle indtægter og omkostninger indregnes i resultatopgørelsen med de beløb, der vedrører regnskabsåret. Finansielle poster omfatter renteindtægter og -omkostninger, finansielle omkostninger ved finansiel leasing, realiserede og urealiserede kursgevinster og -tab vedrørende værdipapirer, gæld og transaktioner i fremmed valuta, amortisering af finansielle aktiver og forpligtelser samt tillæg og godtgørelse under acontoskatteordningen mv.Financial income and expenses are recognised in the income statement at the amounts that relate to the financial year. Net financials include interest income and expenses, financial expenses relating to finance leases, realised and unrealised capital/exchange gains and losses on securities, liabilities and foreign currency transactions, amortisation of financial assets and liabilities and surcharges and allowances under the Danish Tax Prepayment Scheme, etc.Udbytte fra kapitalandele indtægtsføres i det regnskabsår, hvor udbyttet deklareres. Udbytte fra kapitalinteresser indtægtsføres i det regnskabsår, hvor udbyttet deklareres.Dividend from investments is recognised in the reporting year in which the dividend is declared. Dividend from participating interests is recognised in the financial year in which the dividend is declared.Årets skat, som består af årets aktuelle selskabsskat og ændring i udskudt skat, indregnes i resultatopgørelsen med den del, der kan henføres til årets resultat, og direkte i egenkapitalen med den del, der kan henføres til posteringer direkte i egenkapitalen.Tax for the year, which comprises the current tax charge for the year and changes in the deferred tax charge, is recognised in the income statement as regards the portion that relates to the profit/loss for the year and directly in equity as regards the portion that relates to entries directly in equity.Kapitalandele i dattervirksomheder, associerede virksomheder og kapitalinteresser måles til kostpris. I tilfælde, hvor kostprisen overstiger genindvindingsværdien, nedskrives til denne lavere værdi.Investment in subsidiaries, associates and participating interests are measured at cost. If cost exceeds the recoverable amount, a write-down is made to this lower value.Tilgodehavender måles til amortiseret kostpris. Der foretages nedskrivning til imødegåelse af tab, hvor der vurderes at være indtruffet en objektiv indikation på, at et tilgodehavende eller en portefølje af tilgodehavender er værdiforringet. Hvis der foreligger en objektiv indikation på, at et individuelt tilgodehavende er værdiforringet, foretages nedskrivning på individuelt niveau.Receivables are measured at amortised cost. An impairment loss is recognised if there is objective evidence that a receivable or a group of receivables is impaired. If there is objective evidence that an individual receivable is impaired, an impairment loss for that individual asset is recognised.Udbytte Foreslået udbytte vises som en særskilt post under egenkapitalen. Udbytte indregnes som en forpligtelse på tidspunktet for vedtagelse på generalforsamlingen.Dividends Proposed dividends are disclosed as a separate item under equity. Dividends are recognised as a liability when declared by the annual general meeting of shareholders.Aktuelle skatteforpligtelser og tilgodehavende aktuel skat indregnes i balancen som beregnet skat af årets skattepligtige indkomst, reguleret for skat af tidligere års skattepligtige indkomster samt for betalte acontoskatter. Udskudt skat måles efter den balanceorienterede gældsmetode af midlertidige forskelle mellem regnskabsmæssig og skattemæssig værdi af aktiver og forpligtelser opgjort på grundlag af den planlagte anvendelse af aktivet henholdsvis afvikling af forpligtelsen. Udskudt skat måles til nettorealisationsværdi. Udskudte skatteaktiver, herunder skatteværdien af fremførselsberettiget skattemæssigt underskud, måles til den værdi, hvortil aktivet forventes at kunne realiseres, enten ved udligning i skat af fremtidig indtjening eller ved modregning i udskudte skatteforpligtelser inden for samme juridiske skatteenhed. Eventuelle udskudte nettoskatteaktiver måles til nettorealisationsværdi.Current tax liabilities and current tax receivables are recognised in the balance sheet as the estimated tax on the taxable income for the year, adjusted for tax on the taxable income for previous years and tax paid on account. Deferred tax is measured according to the liability method in respect of temporary differences between the carrying amount of assets and liabilities and their tax base, calculated on the basis of the planned use of the asset and settlement of the liability, respectively. Deferred tax is measured at net realisable value. Deferred tax assets, including the tax base of tax losses allowed for carry forward, are measured at the value to which the asset is expected to be realised, either as a set-off against tax on future income or as a set-off against deferred tax liabilities within the same legal tax entity. Any deferred net tax assets are measured at net realisable value.Gældsforpligtelser, som omfatter gæld til leverandører, tilknyttede virksomheder samt anden gæld, måles til amortiseret kostpris, hvilket sædvanligvis svarer til nominel værdi.Liabilities, which include trade payables, payables to group entities and other payables, are measured at amortised cost, which is usually equivalent to nominal value.Transaktioner i fremmed valuta omregnes ved første indregning til transaktionsdagens kurs. Valutakursdifferencer, der opstår mellem transaktionsdagens kurs og kursen på betalingsdagen, indregnes i resultatopgørelsen som en finansiel post. Hvis valutainstrumenter anvendes til sikring af fremtidige pengestrømme, indregnes urealiserede værdireguleringer direkte på egenkapitalen i dagsværdireserven. Tilgodehavender, gæld og andre monetære poster i fremmed valuta omregnes til balancedagens valutakurs. Forskellen mellem balancedagens kurs og kursen på tidspunktet for tilgodehavendets eller gældsforpligtelsens opståen eller indregning i seneste årsregnskab indregnes i resultatopgørelsen under finansielle indtægter og omkostninger. On initial recognition, foreign currency transactions are translated applying the exchange rate at the transaction date. Foreign exchange differences arising between the exchange rates at the transaction date and at the date of payment are recognised in the income statement as financial income or financial expenses. If foreign currency instruments are considered cash flow hedges, any unrealised value adjustments are taken directly to a fair value reserve under ‘Equity’. Receivables and payables and other monetary items denominated in foreign currencies are translated at the exchange rates at the balance sheet date. The difference between the exchange rates at the balance sheet date and the date at which the receivable or payable arose or was recognised in the latest financial statements is recognised in the income statement as financial income or financial expenses. 194981-2719418682508156-271940-363648113578519170450-263648110465250115439289388697868739754430602-884730602-8847400000400000334800033495003748000374950037480003749500163744001764691851561813909185156147051366901960960221846570896039713465500055000509053478452564053533452342681434221343426814342213402368170000001809313392171809315760514490734378945708960397134655000478451306025500050905318550001325018682501013578538377401533271135785191704536999285351676532158031046525011543422134342681400Ingen/ nonIngen/ nonÅrsrapport37979058Fazsion Group ApSGammeltorv 6, 4.sal1457 København K2021-01-012021-12-312020-01-012020-12-3137979058Fazsion Group ApSGammeltorv6KøbenhavnKøbenhavn KDKDanmark2016-09-02Københavnwww.Fazsiongroup.comJyske Bank A/S2022-01-28Bo Holm HansenRegnskabsklasse BtrueIngen bistandCaseWare-FSR379790582021-01-012021-12-31379790582020-01-012020-12-31379790582021-01-012021-12-31f:RetainedEarningsMember379790582020-01-012020-12-31f:RetainedEarningsMember379790582020-12-31379790582021-12-31379790582021-01-012021-12-311379790582021-01-012021-12-312379790582021-01-012021-12-313379790582021-01-01f:ContributedCapitalMember379790582021-12-31f:ContributedCapitalMember379790582021-01-01f:RetainedEarningsMember379790582021-01-012021-12-31f:RetainedEarningsMember379790582021-12-31f:RetainedEarningsMember379790582021-12-31f:LongtermEquityLoanMember379790582021-01-01f:LongtermEquityLoanMemberiso4217:DKKxbrli:pure