41976608 2023-01-01 2023-12-31 41976608 2023-01-01 2023-12-31 1 41976608 2022-01-01 2022-12-31 41976608 2023-12-31 41976608 2022-12-31 41976608 2022-12-31 fsa:ContributedCapitalMember 41976608 2023-01-01 2023-12-31 fsa:ContributedCapitalMember 41976608 2023-12-31 fsa:ContributedCapitalMember 41976608 2022-12-31 fsa:RetainedEarningsMember 41976608 2023-01-01 2023-12-31 fsa:RetainedEarningsMember 41976608 2023-12-31 fsa:RetainedEarningsMember 41976608 2023-01-01 2023-12-31 1 41976608 2023-01-01 2023-12-31 1 41976608 2023-01-01 2023-12-31 1 41976608 2023-01-01 2023-12-31 2 41976608 2023-01-01 2023-12-31 3 iso4217:DKK Tobias Grove AIP Octopus ApS c/o Fokus Nordic A/S Østbanegade 123 2100 København Ø Copenhagen PricewaterhouseCoopersStatsautoriseret Revisionspartnerselskab Strandvejen 44 2900 Hellerup Fokus Nordic A/SØstbanegade 1232100 København Ø STATEMENTSStatement by management on the annual reportTheexecutiveboardhastodaydiscussedandapprovedtheannualreportofAIPOctopusApSforthefinancialyear1January-31December 2023.The annual report is prepared in accordance with the Danish Financial Statements Act.Inouropinion,thefinancialstatementsgiveatrueandfairviewofthecompany'sfinancialpositionat31December2023andoftheresults of the company's operations for the financial year 1 January - 31 December 2023.In our opinion, management's review includes a fair review of the matters dealt with in the management's review.Management recommends that the annual report should be approved by the company in general meeting. Copenhagen Tonny Nielsen Director Seong Hwan Byun Tonny Nielsen Inseok Heo Chair Independent Auditor's Report To the Shareholder of AIP Octopus ApS OpinionIn our opinion, the Financial Statements give a true and fair view of the financial position of the Company at 31 December 2023, andof the results of the Company's operations for the financial year 1 January - 31 December 2023 in accordance with the DanishFinancial Statements Act.We have audited the Financial Statements of AIP Octopus ApS for the financial year 1 January - 31 December 2023, which compriseincome statement, balance sheet, statement of changes in equity and notes, including a summary of significant accounting policies(financial statements). Basis for OpinionWe conducted our audit in accordance with International Standards on Auditing (ISAs) and the 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 our 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. Statement on Management's ReviewManagement is responsible for management's Review.Our opinion on the financial statements does not cover Management’s Review, and we do not express any form of assuranceconclusion thereon.In connection with our audit of the financial statements, our responsibility is to read Management’s Review and, in doing so,consider whether Management’s Review is materially inconsistent with the financial statements or our knowledge obtained duringthe audit, or otherwise appears to be materially misstated.Moreover, it is our responsibility to consider whether Management’s Review provides the information required under the DanishFinancial Statements Act.Based on the work we have performed, in our view, Management’s Review is in accordance with the Financial Statements and hasbeen prepared in accordance with the requirements of the Danish Financial Statements Act. We did not identify any materialmisstatement in Management’s Review. Management’s Responsibilities for the Financial StatementsManagement is responsible for the preparation of Financial Statements that give a true and fair view in accordance with the DanishFinancial Statements Act, and for such internal control as Management determines is necessary to enable the preparation offinancial statements that are free from material misstatement, whether due to fraud or error.In preparing the financial statements, Management is responsible for assessing the Company’s ability to continue as a goingconcern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting in preparing thefinancial statements unless Management either intends to liquidate the Company or to cease operations, or has no realisticalternative but to do so. Auditor's Responsibilities for the Audit of the Financial StatementsOur 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 exerciseprofessional 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 inthe circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control.•Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and relateddisclosures 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 Company’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 Company to cease to continue as a going concern.•Evaluate the overall presentation, structure and contents of the financial statements, including the disclosures, and whetherthe 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 auditand significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Hellerup PricewaterhouseCoopersStatsautoriseret Revisionspartnerselskab Maj-Britt Nørskov Nannestad State Authorised Public Accountant Management's reviewDevelopment in the yearThe income statement of the company for 2023 shows a result at tDKK -8.961, which is not considered satisfying but as expected,the balance sheet at 31 December 2023 at tDKK 241.488 and the equity at tDKK 84.996. The result of the year is as expected.Subsequent eventsNo events materially affecting the assessment of the Annual Report have occurred after the balance sheet date. Key activitiesThe company's key activity is to act as a holding company, owning shares in companies or other financial instruments in companiescarrying on business activities within real estate. 357000 65000 -357000 -65000 1079000 -22444000 722000 -22509000 16000 0 7629000 6933000 -6891000 -29442000 2070000 1820000 -8961000 -31262000 233022000 253264000 233022000 253264000 6271000 0 771000 372000 7042000 372000 1424000 3473000 8466000 3845000 241488000 257109000 50000 50000 84946000 93907000 84996000 93957000 150638000 150638000 150638000 150638000 3284000 10302000 2474000 2187000 96000 25000 5854000 12514000 156492000 163152000 241488000 257109000 50000 93907000 0 -8961000 50000 84946000 1. Capital resourcesAIP Octopus ApS has as of 31 December 2023 received a statement of deferral from its parent company, AIP Euro Green Private RealEstate Trust no. 13. The parent company confirms not to call on or demand the payment of the payable of tDKK 3,284 or anyinterest on the shareholder loan in the following 12 months, unless the liquidity allows it.6. Payables to group enterprisesPayments due within 1 year are recognised in short-term debt. Other debt is recognised in long-term debt.The debt falls due for payment as specified below:Payables to group enterprises 20232022Between 1 and 5 years 150.638 150.638Long-term part 150.638 150.638Within 1 year 3.284 10.302Payables to group enterprises in total 153.922 160.940 2. Other external expensesThe company had no employees in the financial year, and no remuneration was paid to the management and board of directors. 202320223. Financial costsOther financial costs -97 -31Interests paid to group enterprises -7.532 -6.902Financial costs in total -7.629 -6.933 4. Tax on profit/loss for the yearCurrent tax for the year -2.474 -2.187Deferred tax for the year 404 367Tax on profit/loss for the year in total -2.070 -1.820 5. Investments in subsidiariesCost price beginning of year 300.925 39.388Additions for the year 0 261.537Cost price end of year 300.925 300.925Value adjustments at beginning of year -47.661 -8.075Adjustments due to change in accounting policies in subsidiaries 0 7.941Dividends received -21.321 -25.083Value adjustment for the year 1.079 -22.444Value adjustments at end of year -67.903 -47.661Carrying amount end of year 233.022 253.264Investments in subsidiaries are specified as follows:Place of Votes and Nameregistered office Share capitalownershipOctopus Holding P/SKøbenhavn9.59531,35%Octopus Holding GP ApSKøbenhavn4031,35% 7. Contingent assets, liabilities and other financial obligationsThe Company is jointly taxed with Octopus Holding P/S.As a result, the company is unlimited and jointly and severally liable with Octopus Holding P/S in the joint taxation of Danishwithholding taxes on dividends, interest and royalties. true The annual report for 2023 is presented in tDKK.Accounting policiesRecognition and measurementRevenues are recognised in the income statement as earned. Furthermore, value adjustments of financial assets and liabilitiesmeasured at fair value or amortised cost are recognised. Moreover, all expenses incurred to achieve the earnings for the year arerecognised in the income statement, including depreciation, amortisation, impairment losses and provisions as well as reversals dueto changed accounting estimates of amounts that have previously been recognised in the income statement.Assets are recognised in the balance sheet when it is probable that future economic benefits will flow to the company and the valueof the asset can be measured reliably.Liabilities are recognised in the balance sheet when it is probable that future economic benefits will flow from the company and thevalue of the liability can be measured reliably.On initial recognition, assets and liabilities are measured at cost. On subsequent recognition, assets and liabilities are measured asdescribed below for each individual accounting item.Income statementOther external expensesOther external expenses include expenses related to administration.Income from investments in subsidiariesThe item “Income from investments in subsidiaries” in the income statement includes the proportionate share of the profit for theyear.Financial income and expensesFinancial income and expenses are recognised in the income statement at the amounts that relate to the financial year. Netfinancials include interest income and expenses, realised and unrealised capital/exchange gains and losses on liabilities.Tax on profit/loss for the yearTax 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 theyear is recognised in the income statement, whereas the tax attributable to equity transactions is recognised directly in equity.The Company is jointly taxed with partially owned Danish subsidiaries. The tax effect of the joint taxation is allocated to enterprisesin proportion to their taxable incomes.Balance sheetInvestments in subsidiariesInvestments in subsidiaries are recognised and measured under the equity method.The item “Investments in subsidiaries” in the balance sheet include the proportionate ownership share of the net asset value of theenterprises calculated on the basis of the fair values of identifiable net assets at the time of acquisition with deduction or additionof unrealised intercompany profits or losses and with addition of the remaining value of any increases in value and goodwillcalculated at the time of acquisition of the enterprises.Accounting policies (continued)The total net revaluation of investments in subsidiaries is transferred upon distribution of profit to “Reserve for net revaluationunder the equity method“ under equity. The reserve is reduced by dividend distributed to the Parent Company and adjusted forother equity movements in the subsidiaries.Subsidiaries with a negative net asset value are recognised at DKK 0. Any legal or constructive obligation of the Parent Company tocover the negative balance of the enterprise is recognised in provisions.ReceivablesReceivables are measured at amortized cost. It essentially corresponds to nominal value, reduced by write-downs to counterexpected losses.Cash at bank and in handCash includes cash in hand and is measured at nominal value. EquityThe equity includes the share capital and a number of other equity items that may be prescribed by law or laid down in the articlesof association.Deferred tax assets and liabilitiesDeferred income tax is measured using the balance sheet liability method in respect of temporary differences arising between thetax bases of assets and liabilities and their carrying amounts for financial reporting purposes on the basis of the intended use of theasset and settlement of the liability, respectively.Deferred tax assets are measured at the value at which the asset is expected to be realised, either by elimination in tax on futureearnings or by set-off against deferred tax liabilities within the same legal taxentity.Deferred tax is measured on the basis of the tax rules and tax rates that will be effective under the legislation at the balance sheetdate when the deferred tax is expected to crystallise as current tax. Any changesin deferred tax due to changes to tax rates are recognised in the income statement or in equity if the deferred tax relates to itemsrecognised in equity.Financial debtsDebts are measured at amortised cost, substantially corresponding to nominal value.Current tax receivables and liabilitiesCurrent tax liabilities and receivables are recognised in the balance sheet as the expected taxable income for the year adjusted fortax on taxable incomes for prior years and tax paid on account. Extra payments and repayment under the on-account taxationscheme are recognised in the income statement in financial income and expenses.LiabilitiesOther liabilities, which include trade payables, payables to group entities and other payables, are measured at amortised cost,which is usually equivalent to nominal value. true Annual report Auditor's report on audited financial statements ParsePort XBRL Converter 2023-01-01 2023-12-31 2022-01-01 2022-12-31 2024-07-05 Reporting class B 41976608 2020-12-23 2024-07-05 529900VSWLQF0O3GA946 33771231 Strandvejen 44 2900 Hellerup Opinion Basis for Opinion 2024-07-05 mne32198 33771231