xbrli:pureiso4217:DKK242420052022-01-012023-03-31242420052022-01-012023-03-311242420052022-01-012023-03-311242420052022-01-012023-03-311242420052022-01-012023-03-312242420052022-01-012023-03-313242420052022-01-012023-03-314242420052022-01-012023-03-31242420052021-01-012021-12-31242420052022-01-012023-03-31fsa:RetainedEarningsMember242420052022-01-012023-03-31fsa:ProposedDividendRecognisedInEquityMember242420052023-03-31242420052021-12-31242420052022-01-01fsa:ContributedCapitalMember242420052022-01-01fsa:ReserveForDevelopmentExpenditureMember242420052022-01-01fsa:RetainedEarningsMember242420052022-01-01fsa:ProposedDividendRecognisedInEquityMember242420052022-01-01242420052023-03-31fsa:ContributedCapitalMember242420052023-03-31fsa:ReserveForDevelopmentExpenditureMember242420052023-03-31fsa:RetainedEarningsMember242420052023-03-31fsa:ProposedDividendRecognisedInEquityMember242420052022-01-012023-03-31fsa:ReserveForDevelopmentExpenditureMemberGrundlag for konklusionKonklusion2023-11-072023-11-07true2021-01-012021-12-3133963556København S23006WeidekampsgadeDeloitte Statsautoriseret RevisionspartnerselskabKøbenhavnKøbenhavn Ø2100Regnskabsklasse BErklæring om udvidet gennemgang2023-03-312022-01-01<br /><br />123ØstbanegadeCareCom A/S24242005339635562300 København SWeidekampsgade 6Deloitte Statsautoriseret RevisionspartnerselskabÅrsrapportThe Board of Directors and the Executive Board have today considered and approved the annual report of CareCom A/S for the financial year 01.01.2022 - 31.03.2023.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 Entity’s financial position at 31.03.2023 and of the results of its operations for the financial year 01.01.2022 - 31.03.2023.We believe that the management commentary contains a fair review of the affairs and conditions referred to therein.We recommend the annual report for adoption at the Annual General Meeting.HellerupSagnik BhattacharyaMerritt Dattel Mc GowanAnthony James PerrottaJeffrey ChiumientoSagnik BhattacharyaTo the shareholders of CareCom A/SWe have performed an extended review of the financial statements of CareCom A/S for the ​financial year 01.01.2022 - 31.03.2023, 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. ​Based on our extended review, in our opinion, the financial statements give a true and fair view of the Entity’s ​financial position at. 31.03.2023 and of the results of its operations for the financial year 01.01.2022 - 31.03.2023 in accordance with the Danish Financial Statements Act.We conducted our extended review in accordance with the assurance engagement standard for small enterprises as issued by the Danish Business Authority and the standard on extended review of financial statements prepared in accordance with the Danish Financial Statements Act as issued by FSR - Danish Auditors. Our responsibilities under those standards and requirements are further described in the ”Auditor’s responsibilities for the extended review of the financial statements” section. We are independent of the Entity 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 Entity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern, and using the going concern basis of accounting unless Management either intends to liquidate the Entity 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 about our conclusion on the financial statements and that we also perform specifically required supplementary procedures for the purpose of obtaining additional assurance about our conclusion. An extended review consists of making inquiries, primarily of management and, if appropriate, of other entity personnel, performing analytical and the specifically required supplementary procedures as well as evaluating the evidence obtained. The procedures performed in an extended review are less in scope than in an audit, and accordingly we do not express an audit opinion on the financial statements.Management is responsible for the management commentary. Our conclusion on the financial statements does not cover the management commentary, and we do not express any form of assurance conclusion thereon. In connection with our extended review of the financial statements our responsibility is to read the management commentary and, in doing so, consider whether the management commentary is materially inconsistent with the financial statements or our knowledge obtained in the extended review or otherwise appears to be materially misstated. 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 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.CopenhagenClaus Jorch Andersenmne33712State Authorised Public AccountantPrimary activitiesThe Company's activity consists of development, marketing and sale of software within Healthcare. Profit for the year amounts to DKK 15,173 thousand, which management considers satisfactory. Equity amounts to DKK 17,602 thousand with an equity ratio of 49 %. Without affecting the high investment rate, an EBITDA of DKK 16,719 thousand has been realised, which is very satisfactory. In July 2022, the CareCom group was sold to InterOperability Bidco, Inc., a multi-national corporation headquartered in the United States. CareCom US was also sold and is directly owned by InterOperability Bidco, Inc. CareCom A/S will continue to operate independently, with a new 31 March year end. Sales In 2022/23 we continued to focus on sales worldwide. After the July 2022 acquisition of the CareCom group, efforts were made to sell CareCom products to the existing multi-national install base of the InterOperability Bidco, Inc. group. These efforts will continue to increase into the next fiscal year and beyond. Expectations for 2023/24 For 2023/24 Management expects increasing revenue, increasing investments in sales force in all markets and an increasing profit compared to 2022/23. A positive development in revenue and profits is expected to be realized on all markets. Also, this development is expected to continue the coming years. Events after the balance sheet dateNo events have occurred after the balance sheet date to this date, which would influence the evaluation of this annual report.23386209244151051129936271568378235906986391126325716559629495439634412084255113668234111186175167190931695425627646683666757139544251328749913954425001350000013954425-212501014610660146106601083780108378016599234553934806354553932140558455393371000246180351143997223738941045536317878740410932725419271030431171218333501454515754304531881622793730908581199379395000005000000487500146730482311231517304814718623500000487500231123135000001471862350000001467304800294979029497916043271503461822165029413590015258318563364163418511346283181915735533492433715735533492433730908581199379390-13500000-13500000-4875001 Gross profit /lossPart of the company's software and technology has been sold to a group company, this year. The sale has generated a profit of 22 million (2021: 10.3 million), which has been recognised as other income. Gross profit is hereby affected positively by this amount.2 Staff costs2022/23 DKK2021 DKKWages and salaries10,036,0716,396,867Pension costs728,306446,608Other social security costs180,23696,787Other staff costs354,749216,57511,299,3627,156,837Average number of full-time employees131213123 Other financial income 2022/23 DKK2021 DKKFinancial income from group enterprises616,420131,322Other interest income2,8975,360Exchange rate adjustments223,2340842,551136,6824 Other financial expenses2022/23 DKK2021 DKKOther interest expenses30,83574,722Exchange rate adjustments310,27611,453341,11186,175<br />2022/23 DKK2021 DKKOther interest expenses30,83574,722Exchange rate adjustments310,27611,453341,11186,1755 Tax on profit/loss for the year2022/23 DKK2021 DKKCurrent tax2,941,3593,803,696Change in deferred tax(294,979)(136,934)Adjustment concerning previous years118,288(5)2,764,6683,666,7576 Intangible assetsCompleted development projects DKKCost beginning of year19,035,738Cost end of year19,035,738Amortisation and impairment losses beginning of year(17,574,672)Impairment losses for the year(864,219)Amortisation for the year(596,847)Amortisation and impairment losses end of year(19,035,738)Carrying amount end of year07 Development projectsNo new development projects have been initiated during the financial year. 8 Property, plant and equipmentOther fixtures and fittings, tools and equipment DKKCost beginning of year530,522Additions143,907Disposals(70,076)Cost end of year604,353Depreciation and impairment losses beginning of year(422,144)Depreciation for the year(211,555)Reversal regarding disposals29,346Depreciation and impairment losses end of year(604,353)Carrying amount end of year09 Financial assetsInvestments in group enterprises DKKOther receivables DKKCost beginning of year3,533,061480,635Disposals0(25,242)Cost end of year3,533,061455,393Impairment losses beginning of year(1,873,138)0Exchange rate adjustments125,2590Share of profit/loss for the year(1,811,667)0Investments with negative equity value transferred to provisions26,4850Impairment losses end of year(3,533,061)0Carrying amount end of year0455,393Investments in subsidiariesRegistered inCorporate formEquity interest %CareCom US Inc.Delaware, USAInc.10010 Receivables from group enterprisesThe main parts of the receivables from group enterprises is expected to be settled within one year by proposed dividend.11 Deferred tax2022/23 DKK2021 DKKIntangible assets0321,435Property, plant and equipment0(26,456)Deferred tax0294,979<br />11 Deferred tax12 Unrecognised rental and lease commitments2022/23 DKK2021 DKKLiabilities under rental or lease agreements until maturity in total2,145,0001,205,100This annual report has been presented in accordance with the provisions of the Danish Financial Statements Act governing reporting class B enterprises with addition of a few provisions for reporting class C.The accounting policies applied to these financial statements are consistent with those applied last year.falseConsolidated financial statementsReferring to section 110 of the Danish Financial Statements Act, no consolidated financial statements have been prepared.Non-comparabilityThe financial year has been changed to the period 01.01.2022 - 31.03.2023 and therefore the comparison figures are not comparable. The comparative period is 01.01.2021 - 31.12.2021.Recognition and measurementAssets 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 Entity, and the value of the asset can be measured reliably. Liabilities are recognised in the balance sheet when the Entity 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 Entity, and the value of the liability can be measured reliably. On initial recognition, assets and liabilities are measured at cost. Measurement subsequent to initial recognition is effected 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.Gross profit or lossGross profit or loss comprises revenue, other operating income and external expenses.RevenueRevenue from the sale of services is recognised in the income statement when delivery is made to the buyer. Revenue is recognised net of VAT, duties and sales discounts and is measured at fair value of the consideration fixed.Other operating incomeOther operating income comprises income of a secondary nature as viewed in relation to the Entity’s primary activities.Other external expensesOther external expenses include expenses relating to the Entity’s ordinary activities, including expenses for premises, stationery and office supplies, marketing costs, etc. This item also includes writedowns of receivables recognised in current assets.Staff costsStaff costs comprise salaries and wages, and social security contributions, pension contributions, etc for entity staff.Depreciation, amortisation and impairment lossesDepreciation, amortisation and impairment losses relating to property, plant and equipment and intangible assets comprise depreciation, amortisation and impairment losses for the financial year, and gains and losses from the sale of intangible assets and property, plant and equipment.Income from investments in group enterprisesIncome from investments in group enterprises comprises the pro rata share of the individual enterprises’ profit/loss after full elimination of intra-group profits or losses.Other financial incomeOther financial income comprises interest income, including interest income on receivables from group enterprises and transactions in foreign currencies.Other financial expensesOther financial expenses comprise interest expenses, including interest expenses on payables to group enterprises and transactions in foreign currencies.Tax on profit/loss for the yearTax for the year, which consists of current tax for the year and changes in deferred tax, is recognised in the income statement by the portion attributable to the profit for the year and recognised directly in equity by the portion attributable to entries directly in equity.The Entity is jointly taxed with all Danish group enterprises. The current Danish income tax is allocated among the jointly taxed entities proportionally to their taxable income (full allocation with a refund concerning tax losses).Intellectual property rights etc.Intellectual property rights etc comprise development projects completed and in progress with related intellectual property rights, acquired intellectual property rights and prepayments for intangible assets.Development projects on clearly defined and identifiable products and processes, for which the technical rate of utilisation, adequate resources and a potential future market or development opportunity in the enterprise can be established, and where the intention is to manufacture, market or apply the product or process in question, are recognised as intangible assets. Other development costs are recognised as costs in the income statement as incurred. When recognising development projects as intangible assets, an amount equalling the costs incurred less deferred tax is taken to equity under Reserve for development costs that is reduced as the development projects are amortised and written down. ​ ​The cost of development projects comprises costs such as salaries and amortisation that are directly and indirectly attributable to the development projects. ​ Completed development projects are amortised on a straight-line basis using their estimated useful lives which are determined based on a specific assessment of each development project. If the useful life cannot be estimated reliably, it is fixed at 10 years. For development projects protected by intellectual property rights, the maximum period of amortisation is the remaining duration of the relevant rights. ​ ​Intellectual property rights etc. are written down to the lower of recoverable amount and carrying amount.Property, plant and equipmentOther fixtures and fittings, tools and equipment 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 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:Useful life Other fixtures and fittings, tools and equipment3-5 yearsEstimated 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.Investments in group enterprisesInvestments in group enterprises are recognised and measured according to the equity method. This means that investments are measured at the pro rata share of the enterprises’ equity value plus unamortised goodwill and plus or minus unrealised intra-group profits or losses. Group enterprises with negative equity value are measured at DKK 0. Any receivables from these enterprises are written down to net realisable value based on a specific assessment. If the Parent has a legal or constructive obligation to cover the liabilities of the relevant enterprise, and it is probable that such obligation will involve a loss, a provision is recognised that is measured at present value of the costs necessary to settle the obligations at the balance sheet date. Upon distribution of profit or loss, net revaluation of investments in group enterprises is transferred to Reserve for net revaluation according to the equity method under equity. Investments in group enterprises are written down to the lower of recoverable amount and carrying amount.ReceivablesReceivables are measured at amortised cost, usually equalling nominal value, less writedowns for bad and doubtful debts.PrepaymentsPrepayments comprise incurred costs relating to subsequent financial years. Prepayments are measured at cost.CashCash comprises cash in hand and bank deposits.DividendDividend is recognised as a liability at the time of adoption at the general meeting. Proposed dividend for the financial year is disclosed as a separate item in equity. Extraordinary dividend adopted in the financial year is recognised directly in equity when distributed and disclosed as a separate item in Management's proposal for distribution of profit/loss.Other financial liabilitiesOther financial liabilities are measured at amortised cost, which usually corresponds to nominal value.Tax receivable or payableCurrent tax receivable or payable is recognised in the balance sheet, stated as tax computed on this year's taxable income, adjusted for prepaid tax.<br />Joint taxation contributions payable or receivableCurrent joint taxation contributions receivable or joint taxation contributions payable are recognised in the balance sheet, calculated as tax computed on the taxable income of the year, which has been adjusted for prepaid tax. For tax losses, joint taxation contributions receivable are only recognised if such losses are expected to be used under the joint taxation arrangement.Deferred incomeDeferred income comprises income received for recognition in subsequent financial years. Deferred income is measured at cost.2023-11-07Sagnik Bhattacharya