362022382022-01-012022-12-31362022382022-01-012022-12-312362022382022-01-012022-12-313362022382022-01-012022-12-314362022382022-01-012022-12-311362022382022-01-012022-12-31RevPers5362022382022-01-012022-12-31fsa:ContributedCapitalMember362022382022-01-012022-12-31fsa:RetainedEarningsMember362022382021-01-012021-12-31362022382022-12-31362022382022-01-01fsa:ContributedCapitalMember362022382022-01-01fsa:RetainedEarningsMember362022382021-12-31xbrli:purexbrli:pureiso4217:DKKxbrli:sharesTo the shareholders of BE 22 P/S Basis of opinion We conducted our audit in accordance with International Standards on Auditing (ISAs) and additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the "Auditor's responsibilities for the audit of the financial statements" section of this auditor's 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 audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Opinion We have audited the financial statements of BE 22 P/S for the financial year 1 January 2022 - 31 December 2022, 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. In our opinion, the financial statements give a true and fair view of the Entity's financial position at 31 December 2022 and of the results of its operations for the financial year 1 January 2022 - 31 December 2022 in accordance with the Danish Financial Statements Act. 2023-04-28KoldingThe auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgement and maintain professional scepticism throughout the audit. We also: * Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. * Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Entity's internal control. * Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management. * Conclude on the appropriateness of Management's use of the going concern basis of accounting in preparing the financial statements, and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Entity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Entity to cease to continue as a going concern. * Evaluate the overall presentation, structure and content of the financial statements, including the disclosures in the notes, and whether the financial statements represent the underlying transactions and events in a manner that gives a true and fair view. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.Statement on Management's Review Management is responsible for the Management's Review. Our opinion on the financial statements does not cover the Management's Review, and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the Management's Review and, in doing so, consider whether the Management's Review is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. Moreover, it is our responsibility to consider whether the Management's Review provides the information required under the Danish Financial Statements Act. Based on the work we have performed, we conclude that the Management's Review is in accordance with the financial statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not identify any material misstatement of the Management's Review.Grundlag for konklusionKonklusion33963556mne26771Lars Ørum NielsenRasmus Lildholdt KjærMark Augustenborg ØdumRasmus Lildholdt KjærAnders Knokgaard NielsenDeloitte Statsautoriseret RevisionspartnerselskabRevisionspåtegningtrue464417964791305418054631618558Regnskabsklasse B5000005000001973576169932417455101917937Recognition and measurement Assets 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 company, and the value of the assets can be measured reliably. Liabilities are recognised in the balance sheet when the company 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 company, and the value of the liabilities can be measured reliably. On initial recognition, assets and liabilities are measured at cost. Measurement subsequent to initial recognition is affected 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. Foreign currency translation On initial recognition, foreign currency transactions are translated applying the exchange rate at the transaction date. Receivables, payables and other monetary items denominated in foreign currencies that have not been settled at the balance sheet date are translated using the exchange rate at the balance sheet date. Exchange differences that arise between the rate at the transaction date and the one in effect at the payment date or the rate at the balance sheet date are recognised in the income statement as financial income or financial expenses. Property, plant and equipment, intangible assets, inventories and other non-monetary assets that have been purchased in foreign currencies are translated using historical rates. Proposed dividends Proposed dividends for the year are recognised as a separate item under equity. Proposed dividends are recognised as a liability when approved by the Annual General Meeting. Depreciation, amortisation and impairment of tangible and intangible assets Depreciation, amortisation and impairment losses relating to property, plant and equipment and intangible assets comprise depreciation, amortisation and impairment losses for the financial year, calculated on the basis of the residual values and useful lives of the individual assets and impairment testing as well as gains and losses from the sale of intangible assets as well as property, plant and equipment. Balance sheet Property, plant and equipment Land and buildings, solar parks, tools and equipment and leasehold improvements are measured at cost less accumulated depreciation and impairment losses. Land is not depreciated. Cost comprises the acquisition price, costs directly attributable to the acquisition and preparation costs of the asset until the time when it is ready to be put into operation. The present value of the expected costs of dismantling a solar park after the end of its useful life is included in the cost of the solar park. The basis of depreciation is cost less estimated residual value after the end of useful life. Straight-line depreciation is made on the basis of the following estimated useful lives of the assets: Buildings: 50 years Solar parks: 30 years Tools and equipment: 3-8 years Leasehold improvements 5 years For leasehold improvements and assets subject to finance leases, the depreciation period cannot exceed the contract period. Estimated useful lives and residual values are reassessed annually. Items of property, plant and equipment are written down to the lower of recoverable amount and carrying amount. Receivables Receivables are measured at amortised cost, usually equalling nominal value, less writedowns for bad and doubtful debts. Impairment of accounts receivables past due is established on individual assessment of receivables. Other receivables Other receivables comprise non-financial assets, which are measured at cost, less writedowns for bad and doubtful debts. Cash and cash equivalents Cash and cash equivalents comprise cash at bank and in hand as well as short-term securities with a term of less than three months which can be converted directly into cash at bank and in hand and involve only an insignificant risk of value changes. Equity Proposed dividends Proposed dividends for the year are recognised as a separate item under equity. Proposed dividends are recognised as a liability when approved by the Annual General Meeting. Provisions Asset retirement obligations Asset retirement obligations comprise the present value of the estimated expenses related to the retirement of solar plants at the end of their useful life. The provision is determined by discounting expected future cash flows. Liabilities At the time of borrowing, mortgage debt to mortgage credit institutions is measured at cost which corresponds to the proceeds received less transaction costs incurred. Mortgage debt is subsequently measured at amortised cost. This means that the difference between the proceeds at the time of borrowing and the nominal repayable amount of the loan is recognised in the income statement as a financial expense over the term of the loan applying the effective interest method. Off-balance sheet items Contingent liabilities comprise obligations that arise from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not fully within the control of the company; or present obligations that arise from past events but are not recognised because the outflow of resources embodying economic benefits will probably not be required to settle the obligation or because the amount of the obligation cannot be measured with sufficient reliability. Lease commitments are measured at the nominal value of the remaining lease payments. Cash and cash equivalents Cash and cash equivalents comprise cash at bank and in hand as well as short-term securities with a term of less than three months which can be converted directly into cash at bank and in hand and involve only an insignificant risk of value changes. , Cash and cash equivalents comprise cash at bank and in hand as well as short-term securities with a term of less than three months which can be converted directly into cash at bank and in hand and involve only an insignificant risk of value changes. Equity Proposed dividends Proposed dividends for the year are recognised as a separate item under equity. Proposed dividends are recognised as a liability when approved by the Annual General Meeting. Other external expenses Other external expenses include expenses for operation and administration. Gross profit/loss The company has decided to aggregate certain items of the income statement in accordance with the provisions of Section 32 of the Danish Financial Statements Act. Gross profit or loss comprises revenue and other external expenses. Income statement Gross profit/loss The company has decided to aggregate certain items of the income statement in accordance with the provisions of Section 32 of the Danish Financial Statements Act. Gross profit or loss comprises revenue and other external expenses. Revenue Revenue from the sale of electricity is recognised in the income statement when delivery is made to the grid company. Revenue is recognised net of VAT, duties and sales discounts and is measured at fair value of the consideration fixed. Other external expenses Other external expenses include expenses for operation and administration. Depreciation, amortisation and impairment of tangible and intangible assets Depreciation, amortisation and impairment losses relating to property, plant and equipment and intangible assets comprise depreciation, amortisation and impairment losses for the financial year, calculated on the basis of the residual values and useful lives of the individual assets and impairment testing as well as gains and losses from the sale of intangible assets as well as property, plant and equipment. Financial expenses Financial expenses comprise interest expenses, including interest expenses on payables to group enterprises, amortisation of financial liabilities, payables and transactions in foreign currencies, fair value adjustments of financial interests as well as tax surcharge under the Danish Tax Prepayment Scheme etc.Off-balance sheet items Contingent liabilities comprise obligations that arise from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not fully within the control of the company; or present obligations that arise from past events but are not recognised because the outflow of resources embodying economic benefits will probably not be required to settle the obligation or because the amount of the obligation cannot be measured with sufficient reliability. Lease commitments are measured at the nominal value of the remaining lease payments. , At the time of borrowing, mortgage debt to mortgage credit institutions is measured at cost which corresponds to the proceeds received less transaction costs incurred. Mortgage debt is subsequently measured at amortised cost. This means that the difference between the proceeds at the time of borrowing and the nominal repayable amount of the loan is recognised in the income statement as a financial expense over the term of the loan applying the effective interest method. , Liabilities At the time of borrowing, mortgage debt to mortgage credit institutions is measured at cost which corresponds to the proceeds received less transaction costs incurred. Mortgage debt is subsequently measured at amortised cost. This means that the difference between the proceeds at the time of borrowing and the nominal repayable amount of the loan is recognised in the income statement as a financial expense over the term of the loan applying the effective interest method. Property, plant and equipment Land and buildings, solar parks, tools and equipment and leasehold improvements are measured at cost less accumulated depreciation and impairment losses. Land is not depreciated. Cost comprises the acquisition price, costs directly attributable to the acquisition and preparation costs of the asset until the time when it is ready to be put into operation. The present value of the expected costs of dismantling a solar park after the end of its useful life is included in the cost of the solar park. The basis of depreciation is cost less estimated residual value after the end of useful life. Straight-line depreciation is made on the basis of the following estimated useful lives of the assets: Buildings: 50 years Solar parks: 30 years Tools and equipment: 3-8 years Leasehold improvements 5 years For leasehold improvements and assets subject to finance leases, the depreciation period cannot exceed the contract period. Estimated useful lives and residual values are reassessed annually. Items of property, plant and equipment are written down to the lower of recoverable amount and carrying amount. Provisions Asset retirement obligations Asset retirement obligations comprise the present value of the estimated expenses related to the retirement of solar plants at the end of their useful life. The provision is determined by discounting expected future cash flows. Impairment of accounts receivables past due is established on individual assessment of receivables. , Receivables Receivables are measured at amortised cost, usually equalling nominal value, less writedowns for bad and doubtful debts. Impairment of accounts receivables past due is established on individual assessment of receivables. , Other receivables Other receivables comprise non-financial assets, which are measured at cost, less writedowns for bad and doubtful debts. Revenue Revenue from the sale of electricity is recognised in the income statement when delivery is made to the grid company. Revenue is recognised net of VAT, duties and sales discounts and is measured at fair value of the consideration fixed. Reporting class The annual report of BE 22 P/S for 2022 has been presented in accordance with the provisions of the Danish Financial Statements Act applying to enterprises of reporting class B with addition of certain provisions for reporting class C. The accounting policies applied remain unchanged from last year. Reporting currency The annual report is presented in Danish kroner (DKK). Recognition and measurement Assets 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 company, and the value of the assets can be measured reliably. Liabilities are recognised in the balance sheet when the company 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 company, and the value of the liabilities can be measured reliably. On initial recognition, assets and liabilities are measured at cost. Measurement subsequent to initial recognition is affected 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. Foreign currency translation On initial recognition, foreign currency transactions are translated applying the exchange rate at the transaction date. Receivables, payables and other monetary items denominated in foreign currencies that have not been settled at the balance sheet date are translated using the exchange rate at the balance sheet date. Exchange differences that arise between the rate at the transaction date and the one in effect at the payment date or the rate at the balance sheet date are recognised in the income statement as financial income or financial expenses. Property, plant and equipment, intangible assets, inventories and other non-monetary assets that have been purchased in foreign currencies are translated using historical rates. Income statement Gross profit/loss The company has decided to aggregate certain items of the income statement in accordance with the provisions of Section 32 of the Danish Financial Statements Act. Gross profit or loss comprises revenue and other external expenses. Revenue Revenue from the sale of electricity is recognised in the income statement when delivery is made to the grid company. Revenue is recognised net of VAT, duties and sales discounts and is measured at fair value of the consideration fixed. Other external expenses Other external expenses include expenses for operation and administration. Depreciation, amortisation and impairment of tangible and intangible assets Depreciation, amortisation and impairment losses relating to property, plant and equipment and intangible assets comprise depreciation, amortisation and impairment losses for the financial year, calculated on the basis of the residual values and useful lives of the individual assets and impairment testing as well as gains and losses from the sale of intangible assets as well as property, plant and equipment. Financial expenses Financial expenses comprise interest expenses, including interest expenses on payables to group enterprises, amortisation of financial liabilities, payables and transactions in foreign currencies, fair value adjustments of financial interests as well as tax surcharge under the Danish Tax Prepayment Scheme etc. Balance sheet Property, plant and equipment Land and buildings, solar parks, tools and equipment and leasehold improvements are measured at cost less accumulated depreciation and impairment losses. Land is not depreciated. Cost comprises the acquisition price, costs directly attributable to the acquisition and preparation costs of the asset until the time when it is ready to be put into operation. The present value of the expected costs of dismantling a solar park after the end of its useful life is included in the cost of the solar park. The basis of depreciation is cost less estimated residual value after the end of useful life. Straight-line depreciation is made on the basis of the following estimated useful lives of the assets: Buildings: 50 years Solar parks: 30 years Tools and equipment: 3-8 years Leasehold improvements 5 years For leasehold improvements and assets subject to finance leases, the depreciation period cannot exceed the contract period. Estimated useful lives and residual values are reassessed annually. Items of property, plant and equipment are written down to the lower of recoverable amount and carrying amount. Receivables Receivables are measured at amortised cost, usually equalling nominal value, less writedowns for bad and doubtful debts. Impairment of accounts receivables past due is established on individual assessment of receivables. Other receivables Other receivables comprise non-financial assets, which are measured at cost, less writedowns for bad and doubtful debts. Cash and cash equivalents Cash and cash equivalents comprise cash at bank and in hand as well as short-term securities with a term of less than three months which can be converted directly into cash at bank and in hand and involve only an insignificant risk of value changes. Equity Proposed dividends Proposed dividends for the year are recognised as a separate item under equity. Proposed dividends are recognised as a liability when approved by the Annual General Meeting. Provisions Asset retirement obligations Asset retirement obligations comprise the present value of the estimated expenses related to the retirement of solar plants at the end of their useful life. The provision is determined by discounting expected future cash flows. Liabilities At the time of borrowing, mortgage debt to mortgage credit institutions is measured at cost which corresponds to the proceeds received less transaction costs incurred. Mortgage debt is subsequently measured at amortised cost. This means that the difference between the proceeds at the time of borrowing and the nominal repayable amount of the loan is recognised in the income statement as a financial expense over the term of the loan applying the effective interest method. Off-balance sheet items Contingent liabilities comprise obligations that arise from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not fully within the control of the company; or present obligations that arise from past events but are not recognised because the outflow of resources embodying economic benefits will probably not be required to settle the obligation or because the amount of the obligation cannot be measured with sufficient reliability. Lease commitments are measured at the nominal value of the remaining lease payments. Contributed Retained capital earnings Total Equity 1 January 2022 500,000 9,810,142 10,310,142 Profit (loss) 0 2,390,608 2,390,608 Equity 31 December 2022 500,000 12,200,750 12,700,750 7. Unrecognised rental and lease commitments 2022 2021 Liabilities under rental or lease agreements until maturity in total 1,545,863 1,755,863 3. Long-term liabilities other than provisions Due Due Due after 1 year within 1-5 years after 5 years Mortgage debt 25,349,421 11,997,242 13,352,179 25,349,421 11,997,242 13,352,179 5. Collaterals and securities As security for the bank, there is a registered mortgage ban in the company's solar park. In addition, the bank has a right of entry as regards construction and maintenance agreements for the solar park as well as transport in payments from insurance and sale of electricity. Cash amounting to DKK 259.000 is deposited as security for reestablishment of land. 2022 2021 1. Financial expenses Financial expenses from group enterprises 175,830 274,883 Other financial expenses 673,140 737,737 Exchange rate losses 1,790 143 850,760 1,012,763 6. Group relations Name and registered office of the parent company preparing consolidated statements for the smallest group: Better Energy Holding A/S, Business Registration No. 31865883, Frederiksberg. 2022 2021 2. Solar parks Addition in connection with merger and purchase of enterprise 53,338,335 52,949,980 Additions for the year 0 388,355 Cost at the end of the year 53,338,335 53,338,335 Depreciation at the beginning of the year -7,124,605 -5,206,668 Depreciations for the year -1,745,510 -1,917,937 Depreciations at the end of the year -8,870,115 -7,124,605 Carrying amount at the end of the year 44,468,220 46,213,730 4. Significant events occurring after end of reporting period No events have occurred after the balance sheet date to this date, which would influence the evaluation of this annual report. -98101421270075010310142-50000049868784647912The annual report of BE 22 P/S for 2022 has been presented in accordance with the provisions of the Danish Financial Statements Act applying to enterprises of reporting class B with addition of certain provisions for reporting class C. 464417964791305432500519363685572534942128352110253494212835211044468220462137308507601012763934525139144468220462137302390608023906081717212239060817172123241368272997544468220462137301240527123435512405271234355122007509810142false715109880164473028440302844038872034760070168113807662354552279377466129375-2390608-17172121850, Frederiksberg CGammel Kongevej 60, 14.2014-09-042023-04-283620223836950676ÅrsrapportHo Kei AuBE 22 P/SBetter Energy A/S2021-01-012021-12-312022-12-312022-01-01Development in activities and financial matters BE 22 P/S' income statement of the financial year 1 January 2022 - 31 December 2022 shows a result of DKK 2,390,608 and the balance sheet at 31 December 2022 a balance sheet total of DKK 46,441,796 and an equity of DKK 12,700,750. The company's main activities The main activities of BE 22 P/S are directly or indirectly to acquire, own and operate solar parks as well as related activities. The company's main activities The main activities of BE 22 P/S are directly or indirectly to acquire, own and operate solar parks as well as related activities. Development in activities and financial matters BE 22 P/S' income statement of the financial year 1 January 2022 - 31 December 2022 shows a result of DKK 2,390,608 and the balance sheet at 31 December 2022 a balance sheet total of DKK 46,441,796 and an equity of DKK 12,700,750. 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 assets, liabilities and financial position of BE 22 P/S at 31 December 2022 and of the results of the company's operations for the financial year 1 January 2022 - 31 December 2022. 2023-04-28Today, the Executive Board and the Board of Directors have considered and adopted the annual report of BE 22 P/S for the financial year 1 January 2022 - 31 December 2022. In our opinion, the management's review includes a true and fair account of the matters addressed in the review. FrederiksbergWe recommend that the annual report be adopted at the Annual General Meeting. Today, the Executive Board and the Board of Directors have considered and adopted the annual report of BE 22 P/S for the financial year 1 January 2022 - 31 December 2022. 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 assets, liabilities and financial position of BE 22 P/S at 31 December 2022 and of the results of the company's operations for the financial year 1 January 2022 - 31 December 2022. In our opinion, the management's review includes a true and fair account of the matters addressed in the review. We recommend that the annual report be adopted at the Annual General Meeting. Frederiksberg, 28 April 2023 Executive Board Rasmus Lildholdt Kjær Managing director Board of Directors Mark Augustenborg Ødum Rasmus Lildholdt Kjær Anders Knokgaard Nielsen Chairman Board member Board member