33045239 2023-06-30 33045239 2022-06-30 33045239 2022-07-01 fsa:ContributedCapitalMember 33045239 2022-07-01 fsa:RetainedEarningsMember 33045239 2022-07-01 fsa:ProposedDividendRecognisedInEquityMember 33045239 2023-06-30 fsa:ContributedCapitalMember 33045239 2023-06-30 fsa:RetainedEarningsMember 33045239 2023-06-30 fsa:ProposedDividendRecognisedInEquityMember 33045239 2022-07-01 2023-06-30 33045239 2022-07-01 2023-06-30 1 33045239 2022-07-01 2023-06-30 memberOfBoardIdentifier_executive_board_1 33045239 2022-07-01 2023-06-30 memberOfBoardIdentifier_board_of_director_1 33045239 2022-07-01 2023-06-30 memberOfBoardIdentifier_board_of_director_2 33045239 2022-07-01 2023-06-30 memberOfBoardIdentifier_board_of_director_3 33045239 2021-07-01 2022-06-30 33045239 2022-07-01 2023-06-30 fsa:ProposedExtraordinaryDividendRecognisedInEquityMember 33045239 2021-07-01 2022-06-30 fsa:ProposedExtraordinaryDividendRecognisedInEquityMember 33045239 2022-07-01 2023-06-30 fsa:ProposedDividendRecognisedInEquityMember 33045239 2021-07-01 2022-06-30 fsa:ProposedDividendRecognisedInEquityMember 33045239 2022-07-01 2023-06-30 fsa:RetainedEarningsMember 33045239 2021-07-01 2022-06-30 fsa:RetainedEarningsMember 33045239 2022-07-01 2023-06-30 fsa:ContributedCapitalMember 33045239 2022-07-01 2023-06-30 fsa:RetainedEarningsMember 33045239 2022-07-01 2023-06-30 fsa:ProposedDividendRecognisedInEquityMember iso4217:DKK pure Årsrapport 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Strandvejen 44 2900 Hellerup 2022-07-01 2021-07-01 2023-06-30 2022-06-30 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 2023-08-30 Jan Melgaard Regnskabsklasse B Erklæring om udvidet gennemgang The Executive Board and Board of Directors have today considered and adopted the Financial Statements of Lighthouse Aviation A/S for the financial year 1 July 2022 - 30 June 2023. 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 2023 of the Company and of the results of the Company operations for 2022/23. In our opinion, Management's Review includes a true and fair account of the matters addressed in the Review. We recommend that the Financial Statements be adopted at the Annual General Meeting. 2023-08-30 København Ø Jan Melgaard CEO Carina Vissing Melgaard Jens Vissing Melgaard Jan Melgaard 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 2022 - 30 June 2023, 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 2023 and of the results of the Company´s operations for the financial year 1 July 2022 - 30 June 2023 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 2023-08-30 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Lasse Berg State Authorised Public Accountant mne35811 Key activities The primary activity of the Company is investment and consultancy activities. Development in the year The income statement of the Company for 2022/23 shows a profit of DKK 1,865,520, and at 30 June 2023 the balance sheet of the Company shows positive equity of DKK 3,623,427. Subsequent events No events materially affecting the assessment of the Annual Report have occurred after the balance sheet date. 3277237 2497584 791968 734224 62803 83204 2422466 1680156 0 13139 7986 19475 2414480 1673820 548960 397456 1865520 1276364 0 500000 2000000 400000 -134480 376364 1988645 2051448 1988645 2051448 209548 242713 66958 80824 2337364 649519 4326009 2700967 1988645 2051448 1785859 50365 120833 0 2183198 373902 154166 275617 500000 500000 2000000 400000 548960 397456 500000 500000 1123427 1257906 3623427 2157906 0 2901 153622 142704 702582 543061 702582 543061 4326009 2700967 500000 1257907 400000 0 0 -400000 0 -134480 2000000 500000 1123427 2000000 710618 570444 44686 114187 8734 16699 27930 32894 791968 734224 2 2 0 12797 7986 6678 7986 19475 548960 397456 548960 397456 Charges and security At the balance sheet date, security has been provided for the owner's association, TDKK 40. Rental and lease obligations Lease obligations under operating leases. Total future lease payments: Within 1 year 101,000 Between 1 and 5 years 143,000 244,000 0 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 2022/23 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 2022/23 are presented in DKK. 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. 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. Cost of goods sold comprise the purchase price etc. for goods sold in 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, cost of goods sold 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. 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.