39891522 2024-01-01 2024-12-31 39891522 2024-01-01 2024-12-31 1 39891522 2024-01-01 2024-12-31 2 39891522 2023-01-01 2023-12-31 39891522 2024-12-31 39891522 2023-12-31 39891522 2023-12-31 fsa:ContributedCapitalMember 39891522 2023-12-31 fsa:RetainedEarningsMember 39891522 2024-01-01 2024-12-31 fsa:ContributedCapitalMember 39891522 2024-01-01 2024-12-31 fsa:RetainedEarningsMember 39891522 2024-12-31 fsa:ContributedCapitalMember 39891522 2024-12-31 fsa:RetainedEarningsMember iso4217:DKK Pradeep Pattem The Executive Board has today considered and adopted the annual report for the financial year 1 January 2023 - 31 December 2024 for PSN ApS. The annual report is prepared in accordance with the Danish Financial Statement Act. In our opinion, the financial statements give a true and fair view of the financial position as at 31 December 2024 of the Company and of the results of the Company’s operations for 2024. It is also our opinion that the Management’s Review a true and fair account of the development of Company’s activities and financial conditions, the profit for the period and the Company’s financial position as a whole, and a description of the significant risks and uncertainty factors that the Company faces. Copenhagen Sharavanan Lingesan Pradeep Pattem PSN ApS Amaliegade 6, 2 tv 1256 København K 39891522 Copenhagen, Denmark Key activities The company's objects are to act as general partner in Danish limited partnership companies (P/Ses) and limited partnerships (K/Ses) and any other related activity. Development in the year The income statement of the Company for 2024 shows a profit of DKK 0 (2023: DKK 7,527), and at 31 December 2024 the balance sheet of the Company shows equity of DKK 119 (2023: DKK 119). Equity Position and Capital Loss As of the balance sheet date, the Company’s equity has fallen to less than half of the subscribed share capital. This situation is in accordance with Section 119 of the Danish Financial Statements Act, which requires disclosure when such a threshold is breached. Management is actively monitoring the Company’s financial position and considering various options to improve the capital structure, including potential capital injections, cost-saving initiatives, and strategic restructuring. Going Concern Despite the equity position, Management has assessed the Company’s ability to continue operations on a going concern basis. This assessment takes into account available liquidity, ongoing business operations, and future financing possibilities. Based on this evaluation, Management finds it appropriate to prepare the financial statements under the going concern assumption. However, Management acknowledges that the current equity position constitutes a material uncertainty, which may cast significant doubt on the Company’s ability to continue as a going concern. Management is committed to taking the necessary actions to strengthen the Company’s financial position going forward. Subsequent events No events materially affecting the assessment of the Annual Report have occurred after the balance sheet date. 0 9650 0 9650 0 2123 0 7527 0 7527 0 7527 3080 3080 3080 3080 29039 29039 29039 29039 32119 32119 50000 50000 -49881 -49881 119 119 32000 32000 0 0 32000 32000 32119 32119 50000 -49881 119 0 0 0 50000 -49881 119 true true Recognition and measurement 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. 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. PROFIT AND LOSS STATEMENT Revenue Income is recognised on an accrual basis from management fees/general partner fee. Gross profit/loss With reference to section 32 of the Danish Financial Statements Act, gross profit/loss is calculated as a summary of revenue and other external expenses.. Financial income and expenses Financial items include interest income and interest expenses, foreign exchange rate adjustments, amortization premiums / discounts, realized and unrealized gains and losses on securities as well as surcharges and refunds under the tax. Borrowing costs directly attributable to the development projects of investment or project portfolios, added to the cost of the assets until the time when the project is completed and the property can be used for the intended purpose. Tax on profit/loss for the 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 group enterprises. The tax effect of the joint taxation is allocated to enterprises in proportion to their taxable incomes. BALANCE STATEMENT Receivables Receivables are measured at amortized cost. Impairment losses are made for losses which are deemed to have resulted in an objective indication that an individual receivable is impaired. Prepayments Prepayments recognized under assets comprise incurred costs related to coming financial years. Prepayments are measured at cost. Deferred tax assets and liabilities 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 are measured at the value at which the asset is expected to be realized, 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 crystallize as current tax. Any changes in deferred tax due to changes to tax rates are recognized in the income statement or in equity if the deferred tax relates to items recognized in equity. Liabilities Liabilities are measured at amortized cost, substantially corresponding to the nominal value Note 2 – Share capital The current equity is DKK 119. Note 3 – Tax on profit/loss for the year Amounts in DKK 2024 2023 Deferred tax for the year 0 -2,123 Note 4 – Related Party Transaction Amounts in DKK 2024 2023 Payable to related parties 32,000 32,000 Payables as at 31 December 32,000 32,000 PSN ApS is a fully owned subsidiary of Park Street A/S. The company is included in the consolidated financial statements of Park Street A/S. Note 5 – Contingent assets and liabilities The Company is jointly taxed with other companies in Park Street Group. As a result, the company is unlimited and jointly and severally liable with the other companies in the joint taxation of Danish withholding taxes on dividends, interest and royalties within the joint taxation of Park Street Group. Note 6 – Subsequent Events No events materially affecting the assessment of the Annual Report have occurred after the balance sheet date. Annual report No audit assistance ParsePort XBRL Converter 2024-01-01 2024-12-31 2023-01-01 2023-12-31 2025-05-28 Reporting class B 2018-09-25 2025-05-28 12932502 PARK STREET A/S Amaliegade 6, 2 tv 1256 København K