iso4217:DKK380304262016-09-132017-06-30380304262016-09-132017-06-301380304262016-09-132017-06-302380304262016-09-132017-06-303380304262016-09-132017-06-301380304262016-09-132017-06-30fsa:ReserveForNetRevaluationAccordingToEquityMethodMember380304262016-09-132017-06-30fsa:RetainedEarningsMember380304262016-09-132017-06-30fsa:ContributedCapitalMember380304262016-09-132017-06-30fsa:ReserveForNetRevaluationAccordingToEquityMethodMember380304262016-09-132017-06-30fsa:RetainedEarningsMember380304262017-06-30380304262016-09-13fsa:ContributedCapitalMember380304262017-06-30fsa:ContributedCapitalMember380304262016-09-13fsa:ReserveForNetRevaluationAccordingToEquityMethodMember380304262017-06-30fsa:ReserveForNetRevaluationAccordingToEquityMethodMember380304262016-09-13fsa:RetainedEarningsMember380304262017-06-30fsa:RetainedEarningsMember380304262016-09-13Annual reportAuditor's report on audited financial statementsfalseReporting class BfalsefalsefalseKlein House ApSKløverbladsgade562500Valby+45 72 21 72 27+45 35 12 72 27380304262016-09-132016-09-132017-06-302017-12-01Søren RoseSheela Søgaard ChristensenSøren Rose Bjarke IngelsKPMG Statsautoriseret RevisionspartnerselskabDampfaergevej 282100CopenhagenDK25578198KPMG Statsautoriseret RevisionspartnerselskabDampfaergevej 282100 Copenhagen25578198The Executive Board has today discussed and approved the annual report of Klein<br/>House ApS for the financial period 13 September 2016 – 30 June 2017.<br/><br/>The annual report has been prepared in accordance with the Danish Financial<br/>Statements Act.<br/><br/>In our opinion, the financial statements give a true and fair view of the Company's<br/>assets, liabilities and financial position at 30 June 2017 and of the results of the<br/>Company's operations for the financial period 13 September 2016 – 30 June 2017.<br/><br/>Further, in our opinion, the Management's review gives a fair review of the matters<br/>discussed in the Management's review.<br/><br/>We recommend that the annual report be approved at the annual general meeting.Valby2017-12-01To the shareholders of Klein House ApSWe have audited the financial statements of Klein House ApS for the financial period<br/>13 September 2016 – 30 June 2017 comprising income statement, balance sheet,<br/>statement of changes in equity and notes, including accounting policies. The financial<br/>statements are prepared in accordance with the Danish Financial Statements Act.<br/><br/>In our opinion, the financial statements give a true and fair view of the Company's<br/>assets, liabilities and financial position at 30 June 2017 and of the results of the<br/>Company's operations for the financial period 13 September 2016 – 30 June 2017 in<br/>accordance with the Danish Financial Statements Act.We conducted our audit in accordance with International Standards on Auditing (ISAs)<br/>and the additional requirements applicable in Denmark. Our responsibilities under<br/>those standards and requirements are further described in the "Auditor's<br/>responsibilities for the audit of the financial statements" section of our report. We are<br/>independent of the Company in accordance with the International Ethics Standards<br/>Board for Accountants' Code of Ethics for Professional Accountants (IESBA Code)<br/>and the additional requirements applicable in Denmark, and we have fulfilled our other<br/>ethical responsibilities in accordance with these rules and requirements. We believe<br/>that the audit evidence we have obtained is sufficient and appropriate to provide a<br/>basis for our opinion.Management is responsible for the preparation of financial statements that give a true<br/>and fair view in accordance with the Danish Financial Statements Act and for such<br/>internal control that Management determines is necessary to enable the preparation of<br/>financial statements that are free from material misstatement, whether due to fraud or<br/>error.<br/><br/>In preparing the financial statements, Management is responsible for assessing the<br/>Company's ability to continue as a going concern, disclosing, as applicable, matters<br/>related to going concern and using the going concern basis of accounting in preparing<br/>the financial statements unless Management either intends to liquidate the Company<br/>or to cease operations, or has no realistic alternative but to do so.Our objectives are to obtain reasonable assurance as to whether the financial<br/>statements as a whole are free from material misstatement, whether due to fraud or<br/>error, and to issue an auditor's report that includes our opinion. Reasonable<br/>assurance is a high level of assurance but is not a guarantee that an audit conducted<br/>in accordance with ISAs and the additional requirements in Denmark will always<br/>detect a material misstatement when it exists. Misstatements may arise from fraud or<br/>error and are considered material if, individually or in the aggregate, they could<br/>reasonably be expected to influence the economic decisions of users made on the<br/>basis of these financial statements.<br/><br/>As part of an audit conducted in accordance with ISAs and the additional<br/>requirements applicable in Denmark, we exercise professional judgement and<br/>maintain professional scepticism throughout the audit. We also<br/><br/>— identify and assess the risks of material misstatement of the company financial<br/>statements, whether due to fraud or error, design and perform audit procedures<br/>responsive to those risks, and obtain audit evidence that is sufficient and<br/>appropriate to provide a basis for our opinion. The risk of not detecting a material<br/>misstatement resulting from fraud is higher than for one resulting from error as<br/>fraud may involve collusion, forgery, intentional omissions, misrepresentations or<br/>the override of internal control.<br/><br/>— obtain an understanding of internal control relevant to the audit in order to design<br/>audit procedures that are appropriate in the circumstances, but not for the purpose<br/>of expressing an opinion on the effectiveness of the Company's internal control.<br/><br/>— evaluate the appropriateness of accounting policies used and the reasonableness<br/>of accounting estimates and related disclosures made by Management.<br/><br/>— conclude on the appropriateness of Management's use of the going concern basis<br/>of accounting in preparing the financial statements and, based on the audit<br/>evidence obtained, whether a material uncertainty exists related to events or<br/>conditions that may cast significant doubt on the Company's ability to continue as a<br/>going concern. If we conclude that a material uncertainty exists, we are required to<br/>draw attention in our auditor's report to the related disclosures in the financial<br/>statements or, if such disclosures are inadequate, to modify our opinion. Our<br/>conclusions are based on the audit evidence obtained up to the date of our<br/>auditor's report. However, future events or conditions may cause the Company to<br/>cease to continue as a going concern.<br/><br/>— evaluate the overall presentation, structure and contents of the financial<br/>statements, including the disclosures, and whether the financial statements<br/>represent the underlying transactions and events in a manner that gives a true and<br/>fair view.<br/><br/>We communicate with those charged with governance regarding, among other<br/>matters, the planned scope and timing of the audit and significant audit findings,<br/>including any significant deficiencies in internal control that we identify during our<br/>audit.Management is responsible for the Management's review.<br/><br/>Our opinion on the financial statements does not cover the Management's review, and<br/>we do not express any form of assurance conclusion thereon.<br/><br/>In connection with our audit of the financial statements, our responsibility is to read the<br/>Management's review and, in doing so, consider whether the Management's review is<br/>materially inconsistent with the financial statements or our knowledge obtained during<br/>the audit, or otherwise appears to be materially misstated.<br/><br/>Moreover, it is our responsibility to consider whether the Management's review<br/>provides the information required under the Danish Financial Statements Act.<br/><br/>Based on the work we have performed, we conclude that the Management's review is<br/>in accordance with the financial statements and has been prepared in accordance with<br/>the requirements of the Danish Financial Statement Act. We did not identify any<br/>material misstatement of the Management's review.Copenhagen2017-12-01Henrik O. LarsenState Authorised Public Accountantmne15839Principal activities<br/>The company's main purpose is to act as holding company, develop and own IP rights and<br/>associated business.<br/><br/>Development in activities and financial position<br/>At 30 June 2017, the Company has lost more than half of its share capital. The owners<br/>LIGHTBOX ApS and BIG Investments ApS, have in writing declared their intention to<br/>provide the Company with sufficient financial support to ensure that the company is able to<br/>meet its liabilities as they fall due for a period of no less than 12 months from the date of<br/>approval of the statutory financial statements for the year ended 30 June 2017, for which<br/>reason the financial statements for the year ended 30 June 2017 have been prepared on a<br/>going concern basis.<br/><br/>It is Management's opinion that the Company has sufficient financial resources to continue<br/>operations as a going concern.<br/><br/>Management expects that the owners has the ability to pay.<br/><br/>Events after the balance sheet date<br/>Subsequent to the balance sheet date the Company has partly restored its lost share<br/>capital though a capital increase of nominally DKK 500,000. The new shares are<br/>subscribed at a price 100 resulting in a capital injection of DKK 500,000. Hereafter the<br/>share capital amounts to DKK 1,800,000.<br/><br/>Besides the above mentioned, no events materially affecting the assessment of the annual<br/>report have occurred after the balance sheet date.The annual report of Klein House ApS for 2016/17 has been prepared in accordance<br/>with the provisions applying to reporting class B entities under the Danish Financial<br/>Statements Act.Pursuant to section 110 (1) of the Danish Financial Statements Act, no consolidated<br/>financial statement has been prepared.Other external costs<br/>Other external costs comprise distribution costs and costs related to sales, sales<br/>campaigns, administration, office premises, operating leases, etc.<br/><br/>Income/loss from equity investments in group entities<br/>The proportionate share of the individual subsidiaries' profit/loss after tax is<br/>recognised in the Company's income statement after full elimination of intra-group<br/>gains/losses and amortisation of goodwill.Property, plant and equipment<br/>Land and buildings, plant and machinery and fixtures and fittings, tools and equipment<br/>are measured at cost less accumulated depreciation and impairment losses.<br/><br/>Cost comprises the purchase price and any costs directly attributable to the<br/>acquisition until the date on which the asset is available for use. Indirect production<br/>overheads and borrowing costs are not recognised in cost.<br/><br/>Where individual components of an item of property, plant and equipment have<br/>different useful lives, they are accounted for as separate items, which are depreciated<br/>separately.<br/><br/>The basis of depreciation is cost less any projected residual value after the end of the<br/>useful life. Depreciation is provided on a straight-line basis over the estimated useful<br/>life. The estimated useful lives are as follows:<br/><br/>Fixtures and fittings, tools and equipment 3 years<br/><br/>The useful life and residual value are reassessed annually. Changes are treated as<br/>accounting estimates, and the effect on depreciation is recognised prospectively.<br/><br/>Gains and losses on the disposal of property, plant and equipment are stated as the<br/>difference between the selling price less selling costs and the carrying amount at the<br/>date of disposal. Gains and losses are recognised in the income statement as other<br/>operating income or other operating costs, respectively.<br/><br/>Equity investments in group entities<br/>Equity investments in group entities are measured at the proportionate share of the<br/>entities' net asset value calculated in accordance with the Group's accounting policies<br/>plus or minus unrealised intra-group gains or losses and plus or minus the residual<br/>value of positive and negative goodwill calculated in accordance with the acquisition<br/>method.<br/><br/>Equity investments in group entities with negative net asset values are measured at<br/>DKK 0, and any receivables from these entities are written down by an amount<br/>equivalent to the negative net asset value. To the extent that the negative net asset<br/>value exceeds the receivable, the residual amount is recognised as provisions if the<br/>Parent Company has a legal or actual obligation to cover the negative balance of the<br/>subsidiary.<br/><br/>Net revaluation of equity investments in group entities is tied as a net revaluation<br/>reserve under equity according to the equity method to the extent that the carrying<br/>amount exceeds cost. Dividends from group entities expected to be adopted in the<br/>group entities prior to the approval of the Company's annual report, are not tied up in<br/>the revaluation reserve.<br/><br/>Receivables<br/>Receivables are measured at amortised cost.<br/><br/>Write-down is made for bad debt losses where there is an objective indication that a<br/>receivable or a portfolio of receivables has been impaired. If there is an objective<br/>indication that an individual receivable has been impaired, write-down is made on an<br/>individual basis.<br/><br/>Receivables with no objective indication of individual impairment are assessed for<br/>objective indication of impairment on a portfolio basis. The portfolios are primarily<br/>based on the debtors' registered offices and credit rating in accordance with the<br/>Company's credit risk management policy. The objective indicators used in relation to<br/>portfolios are determined on the basis of historical loss experience.<br/><br/>Write-downs are calculated as the difference between the carrying amount of<br/>receivables and the present value of forecast cash flows, including the realisable value<br/>of any collateral received. The effective interest rate for the individual receivable or<br/>portfolio is used as discount rate.<br/><br/>Cash and cash equivalents<br/>Cash and cash equivalents comprise cash deposits in the bank.<br/><br/>Liabilities other than provisions<br/>Other liabilities are measured at net realisable value.-60578197849-258427-933982-11924090-1192409-933982-2584270-933982-258427168791687916879995599551397761497311666101300000-1192409107591130000013000000-9339820-2584271300000590195901959019166610At 30 June 2017, the Company has lost its share capital. The owners LIGHTBOX ApS<br/>and BIG Investments ApS, have in writing declared their intention to provide the<br/>Company with sufficient financial support to ensure that the company is able to meet its<br/>liabilities as they fall due for a period of no less than 12 months from the date of<br/>approval of the statutory financial statements for the year ended 30 June 2017, for<br/>which reason the financial statements for the year ended 30 June 2017 have been<br/>prepared on a going concern basis.<br/>It is Management's opinion that the Company has sufficient financial resources to<br/>continue operations as a going concern.<br/>Management expects that the owners has the ability to pay.Equity investments in group entities<br/>DKK<br/>13. sep 2016 –<br/>30. jun 2017<br/>Cost at 13 September 2016 0<br/>Addition, share capital in Klein House LLC 0<br/>Addition loan 933,982<br/>Cost at 30 June 2017 933,982<br/>Value adjustments at 13 September 2016 0<br/>Loss for the year in Klein LLC -933,982<br/>Value adjustments at 30 June 2017 -933,982<br/>Carrying amount at 30 June 2017 0<br/>Name/legal form Registered office<br/>Voting rights and<br/>ownership<br/>interest Equity<br/>Profit/loss for the<br/>year<br/>Subsidiaries: DKK DKK<br/>Klein House LLC 100% -1,302,262 -1,302,262<br/>-1,302,262 -1,302,262Contractual obligations, contingencies, etc.<br/>Contingent liability of DKK 368 thousand related to the residual loss in the subsidiary<br/>Klein House LLC.