xbrli:pureiso4217:DKK360903162019-01-012019-12-31360903162019-01-012019-12-311360903162019-01-012019-12-311360903162019-01-012019-12-312360903162019-01-012019-12-313360903162019-01-012019-12-314360903162019-01-012019-12-311360903162018-01-012018-12-31360903162019-01-012019-12-31ifrs-full:SeparateMember360903162018-01-012018-12-31ifrs-full:SeparateMember360903162019-12-31360903162018-12-31360903162019-12-31ifrs-full:SeparateMember360903162018-12-31ifrs-full:SeparateMember360903162019-01-012019-12-3111360903162018-01-012018-12-3111360903162019-01-012019-12-3141360903162018-01-012018-12-3141360903162019-01-012019-12-3142360903162018-01-012018-12-3142360903162019-01-01360903162018-01-01RevisionspåtegningÅrsrapport36090316Nustay A/SNyhavn43B, st1051Copenhagen KCopenhagen2019-01-012019-12-312018-01-012018-12-312020-08-31Chantal Pernille PatelMathias Lundø NielsenChief Executive OfficerSimon SkouboeCarl Erik SkovgaardChristian StrøjerMathias Lundøe NielsenChairman33963556Deloitte Statsautoriseret RevisionspartnerselskabWeidekampsgade6, P.O. Box 16000900Copenhagen C 33963556Deloitte Statsautoriseret RevisionspartnerselskabWeidekampsgade 6, P.O. Box 16000900 Copenhagen C To the shareholders of Nustay A/SOpinionWe have audited the consolidated financial statements and the parent financial statements of Nustay A/S for the financial year 1 January to 31 December 2019, which comprise the income statement, statement of comprehensive income, balance sheet, statement of changes in equity and notes, including a summary of significant accounting policies, for the Group as well as the Parent, and consolidated cash flow statement. The consolidated financial statements and the parent financial statements are prepared in accordance with International Financial Reporting Standards as adopted by the EU and additional requirements of the Danish Financial Statements Act.<br/>In our opinion, the consolidated financial statements and the parent financial statements give a true and fair view of the Group’s and the Parent’s financial position at 31 December 2019, and of the results of their operations and cash flows for the financial year 1 January to 31 December 2019 in accordance with International Financial Reporting Standards as adopted by the EU and additional requirements of the Danish Financial Statements Act.Basis for OpinionWe conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional re-quirements applicable in Denmark. Our responsibilities under those standards and requirements are further de-scribed in the Auditor’s responsibilities for the audit of the consolidated financial statements and the parent financial statements section of this auditor’s report. We are independent of the Group in accordance with the Inter-national Ethics Standards Board of Accountants' Code of Ethics for Professional Accountants (IESBA Code) and the additional requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.We draw attention to the information in note 3 and note 30 which indicates that there may be an uncertainty in respect of going concern of the Company and the Group. In preparing the financial statements, Management has assumed that additional capital/liquidity will be provided, among others to implement the Company’s plans and to settle the Company’s obligations. As stated in note 3, there is uncertainty related to the proceeds from the planned exercise of issued warrants as well as uncertainty related to the expected turnover in the second half of 2020. Both matters lead to significant uncertainty which may question the Company’s ability to continue its operations. Our conclusion is not modified on this matter.Management is responsible for the management commentary.<br/>Our opinion on the consolidated financial statements and the parent financial statements does not cover the management commentary, and we do not express any form of assurance conclusion thereon.<br/>In connection with our audit of the consolidated financial statements and the parent financial statements, our responsibility is to read the management commentary and, in doing so, consider whether the management com-mentary is materially inconsistent with the consolidated financial statements and the parent financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated.<br/>Moreover, it is our responsibility to consider whether the management commentary provides the information required under the Danish Financial Statements Act.<br/>Based on the work we have performed, we conclude that the management commentary is in accordance with the consolidated financial statements and the parent 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 commentary.Management is responsible for the preparation of consolidated financial statements and parent financial statements that give a true and fair view in accordance with International Financial Reporting Standards as adopted by the EU and additional requirements of the Danish Financial Statements Act, and for such internal control as Management determines is necessary to enable the preparation of consolidated financial statements and parent financial statements that are free from material misstatement, whether due to fraud or error.<br/>In preparing the consolidated financial statements and the parent financial statements, Management is responsi-ble for assessing the Group’s and the Parent’s ability to continue as a going concern, for disclosing, as applicable, matters related to going concern, and for using the going concern basis of accounting in preparing the consoli-dated financial statements and the parent financial statements unless Management either intends to liquidate the Group or the Entity or to cease operations, or has no realistic alternative but to do so.Our objectives are to obtain reasonable assurance about whether the consolidated financial statements and the parent 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 Den-mark 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 consolidated financial statements and these parent finan-cial statements.<br/>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:<br/>• Identify and assess the risks of material misstatement of the consolidated financial statements and the parent 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.<br/>• 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 Group’s and the Parent’s internal control.<br/>• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management.<br/>• Conclude on the appropriateness of Management’s use of the going concern basis of accounting in pre-paring the consolidated financial statements and the parent financial statements, and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast sig-nificant doubt on the Group’s and the Parent’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 dis-closures in the consolidated financial statements and the parent 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 Group and the Entity to cease to continue as a going concern.<br/>• Evaluate the overall presentation, structure and content of the consolidated financial statements and the parent financial statements, including the disclosures in the notes, and whether the consolidated financial statements and the parent financial statements represent the underlying transactions and events in a manner that gives a true and fair view.<br/>• Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are respon-sible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.<br/>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.Copenhagen2020-08-14Claus Jorch AndersenState-Authorised Public Accountantmne3371210030000134100010030000134100038000000121270003804600012127000-27970000-10786000-28016000-1078600072110005774000721200057740002007000130300020070001303000-37188000-17863000-37235000-178630003400001000012420005840001162000584000-38396000-18447000-38396000-18447000-6861000-4399000-6861000-4399000-31535000-14048000-31535000-14048000-0.04-0.01-0.04-0.0100-31535000-14048000951700095700095170009570008440000100820008440000100820001795700011039000179570001103900085900063800083100063800013150001610001315000161000217400079900021460007990000012900010000014260006610001426000661000997100042140009971000421400011397000487500011526000497500031528000167130003162900016813000382600021230003827000212300065030006870006503000687000104900018150001048000181500011378000462500011398000462500014280001704000444000170400012806000632900011842000632900044334000230420004347100023142000729000568000729000568000-12749000-624000-12749000-6240001400600086100001400600086100001986000855400019860008554000045630000456300018800001880000188000456300018800045630009700099000970009900026503000700300025694000700300012500001019000125000010190009800010000014310000180400014158000180400042160000992500041297000100250004234800014488000414850001458800044334000230420004347100023142000200700013030006450001820000116450004127000-22891000-106130001242000584000340000-1198000-818000-22901000-10379000178800067100085600005015000Payment of depositsPayment of deposits-765000-254000-11113000-5940000-13750000-1317000Capital increases, netCapital increases, netLoans from shareholders and managementLoans from shareholders and management243220009135000-433200055820003374000016034000-274000-2850001605000189000013310001605000