33045239 2024-06-30 33045239 2023-06-30 33045239 2023-07-01 fsa:ContributedCapitalMember 33045239 2023-07-01 fsa:RetainedEarningsMember 33045239 2023-07-01 fsa:ProposedDividendRecognisedInEquityMember 33045239 2024-06-30 fsa:ContributedCapitalMember 33045239 2024-06-30 fsa:RetainedEarningsMember 33045239 2024-06-30 fsa:ProposedDividendRecognisedInEquityMember 33045239 2023-07-01 2024-06-30 33045239 2023-07-01 2024-06-30 1 33045239 2023-07-01 2024-06-30 memberOfBoardIdentifier_executive_board_1 33045239 2023-07-01 2024-06-30 memberOfBoardIdentifier_board_of_director_1 33045239 2023-07-01 2024-06-30 memberOfBoardIdentifier_board_of_director_2 33045239 2023-07-01 2024-06-30 memberOfBoardIdentifier_board_of_director_3 33045239 2022-07-01 2023-06-30 33045239 2023-07-01 2024-06-30 fsa:ContributedCapitalMember 33045239 2023-07-01 2024-06-30 fsa:RetainedEarningsMember 33045239 2023-07-01 2024-06-30 fsa:ProposedDividendRecognisedInEquityMember iso4217:DKK pure Årsrapport 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Strandvejen 44 2900 Hellerup 2023-07-01 2022-07-01 2024-06-30 2023-06-30 33045239 Lighthouse Aviation A/S Amerika Plads 26B, st. 2100 København Ø København 2010-06-27 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab 33771231 Herredsvej 32 7100 Vejle Denmark 79 21 27 00 Underskriv. revisors e-mail anvendes 2024-09-19 Jan Melgaard Regnskabsklasse B Erklæring om udvidet gennemgang The Executive Board and Board of Directors have today considered and adopted the Annual Report of Lighthouse Aviation A/S for the financial year 1 July 2023 - 30 June 2024. 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 30 June 2024 of the Company and of the results of the Company operations for 2023/24. We recommend that the Annual Report be adopted at the Annual General Meeting. 2024-09-19 København Ø Jan Melgaard CEO Carina Vissing Melgaard Jens Vissing Melgaard Jan Melgaard The Annual General Meeting has decided that the Financial Statements for next year are not to be subject to any audit. To the shareholder of Lighthouse Aviation A/S Opinion We have performed an extended review of the Financial Statements of Lighthouse Aviation A/S for the financial year 1 July 2023 - 30 June 2024, 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 30 June 2024 and of the results of the Company´s operations for the financial year 1 July 2023 - 30 June 2024 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. Trekantområdet 2024-09-19 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Lasse Berg State Authorised Public Accountant mne35811 1965944 3277237 559056 791968 0 62803 1406888 2422466 35380 0 8707 7986 1433561 2414480 260719 548960 1172842 1865520 1000000 0 1000000 2000000 -827158 -134480 0 1988645 0 1988645 12417 0 1030000 0 1042417 0 1042417 1988645 180283 209548 304308 1785859 229249 66958 139738 120833 853578 2183198 269537 154166 1123115 2337364 2165532 4326009 500000 500000 296269 1123427 1000000 2000000 1796269 3623427 260719 548960 108544 153622 369263 702582 369263 702582 2165532 4326009 500000 1123427 2000000 0 0 -2000000 0 -1000000 0 0 172842 1000000 500000 296269 1000000 The primary activity of the Company is investment and consultancy activities. 505916 710618 24929 44686 8562 8734 19649 27930 559056 791968 2 2 260719 548960 260719 548960 Rental and lease obligations Lease obligations under operating leases. Total future lease payments: Within 1 year 101000 101000 Between 1 and 5 years 42000 143000 Total 143000 244000 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 is disclosed in the Annual Report of Melgaard Invest ApS, which is the management company of the joint taxation purposes. 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 Company's liability. The Annual Report of Lighthouse Aviation A/S for 2023/24 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 2023/24 are presented in DKK. true 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. Recognition and measurement take into account predictable losses and risks occurring before the presentation of the Annual Report which confirm or invalidate affairs and conditions existing at the balance sheet date. Transactions in foreign currencies are translated at the exchange rates at the dates of transaction. Gains and losses 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. 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. 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 and other external expenses. Staff expenses comprise wages and salaries as well as payroll expenses. Amortisation, depreciation and impairment losses comprise depreciation and impairment of 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 property, plant and equipment. 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. The Company is jointly taxed with Danish parent company. The tax effect of the joint taxation is allocated to Danish enterprises in proportion to their taxable incomes. 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 buildings 50 years Other fixtures and fittings, tools and equipment 2-5 years Depreciation period and residual value are reassessed annually. The carrying amounts of 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 depreciation. If so, the asset is written down to its lower recoverable amount. Fixed asset investments consist of deposits and other receivables. 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. Dividend distribution proposed by Management for the year is disclosed as a separate equity item. 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, including the tax base of tax loss carry-forwards, 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.