Årsrapport16119040BUUS JENSEN, Statsautoriserede revisorerLersø Parkalle, 1122100, København Ø2021-05-172021-12-3142397113Luminora Solar 10 ApSWalgerholm73500Værløse2021-05-17FuresøBUUS JENSEN, Statsautoriserede revisorer16119040Michael MarkussenStatsautoriseret revisormne34295Lersø Parkalle1122100København ØDanmark39 29 08 00Buusjensen@buusjensen.dk2022-06-24Pablo Miguel Otín PintadoRegnskabsklasse BAndre erklæringer uden sikkerhedRevisorgruppen DanmarkanpartshaverneKøbenhavn2022-06-24Furesø2022-06-24-9593-95931-9594-9594-9594930930374703840038400040000-959430406799479947994384004000040000-9594-9594Today, the managing director has presented the annual report of Luminora Solar 10 ApS for the financial year 17 May - 31 December 2021. The annual report has been presented in accordance with the Danish Financial Statements Act. I consider the accounting policies appropriate and, in my opinion, the financial statements provide a fair presentation of the company’s assets, equity and liabilities, and financial position at 31 December 2021 and of the company’s results of activities in the financial year 17 May – 31 December 2021. The managing director consider the conditions for audit exemption of the 2021 financial statements to be met. I am of the opinion that the management commentary presents a fair account of the issues dealt with. We recommend that the annual report be approved at the Annual General Meeting. Pablo Otín PintadoWe have compiled the financial statements of Luminora Solar 10 ApS for the financial year 17 May - 31 December 2021 based on the company's bookkeeping and on further information provided by you. The financial statements comprise the income statement, statement of financial position, statement of changes in equity, and a summary of significant accounting policies,. We performed this engagement in accordance with the international standard ISRS 4410 applying to compilation engagements. We have applied our professional expertise to assist you in the preparation and presentation of the financial statements in accordance with the Danish Financial Statements Act. We have complied with relevant requirements of the Danish Act on Approved Auditors and Audit Firms and with the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code), including principles of integrity, objectivity, professional competence and due care. The financial statements and the accuracy and completeness of the information used to compile them are your responsibility. As a compilation engagement is not an assurance engagement, we are not required to verify the accuracy or completeness of the information you provided to us in order to compile the financial statements. Accordingly, we express neither an audit opinion nor a review opinion as to whether the financial statements have been compiled in accordance with the Danish Financial Statements Act. The principal activities of the company The company's principal activity is to plan, develop, construct, and operate solar photovoltaic plants in Denmark. The company is part of the Powertis Group; a large-scale PV solar developer focused on Europe and Latin America. The Powertis Group is part of the Soltec Group (Soltec Power Holdings, S.A.), listed on the Spanish Stock Exchange. Development in activities and financial matters The gross loss for the year totals DKK -9.593. Income or loss from ordinary activities after tax totals DKK -9.594. Management considers the net loss for the year as expected. It is the company’s first financial year and includes the period 17 May 2021 – 31 December 2021 (seven months). The year has been spent on the establishment and developing projects. The annual report for Luminora Solar 10 ApS has been presented in accordance with the Danish Financial Statements Act regulations concerning reporting class B enterprises. Furthermore, the company has decided to comply with certain rules applying to reporting class C enterprises. The annual report is presented in DKK. The annual report comprises the first financial year and hence comparative figures are not available. Recognition and measurement in general Income is recognised in the income statement concurrently with its realisation, including the recognition of value adjustments of financial assets and liabilities. Likewise, all costs are recognised in the income statement, including depreciations amortisations, writedowns for impairment, provisions, and reversals due to changes in estimated amounts previously recognised in the income statement. Assets are recognised in the statement of financial position when it seems probable that future economic benefits will flow to the company and the value of the asset can be reliably measured. Liabilities are recognised in the statement of financial position when it is seems probable that future economic benefits will flow out of the company and the value of the liability can be reliably measured. Assets and liabilities are measured at cost at the initial recognition. Hereafter, assets and liabilities are measured as described below for each individual accounting item. Certain financial assets and liabilities are measured at amortised cost, allowing a constant effective interest rate to be recognised during the useful life of the asset or liability. Amortised cost is recognised as the original cost less any payments, plus/less accrued amortisations of the difference between cost and nominal amount. In this way, capital losses and gains are allocated over the useful life of the liability. Upon recognition and measurement, allowances are made for such predictable losses and risks which may arise prior to the presentation of the annual report and concern matters that exist on the reporting date. Other external costs comprise costs incurred for development, sales and administration. Financial income and expenses Financial income and expenses are recognised in the income statement with the amounts concerning the financial year. Financial income and expenses comprise interest income and expenses, financial expenses from financial leasing, realised and unrealised capital gains and losses relating to securities, debt and transactions in foreign currency, amortisation of financial assets and liabilities as well as surcharges and reimbursements under the advance tax scheme, etc. Tax on net profit or loss for the year Tax for the year comprises the current income tax for the year and changes in deferred tax and is recognised in the income statement with the share attributable to the net profit or loss for the year and directly in equity with the share attributable to entries directly in equity. Receivables Receivables are measured at amortised cost, which usually corresponds to nominal value. In order to meet expected losses, impairment takes place at the net realisable value. The company has chosen to use IAS 39 as a basis for interpretation when recognising impairment of financial assets, which means that impairments must be made to offset losses where an objective indication is deemed to have occurred that an account receivable or a portfolio of accounts receivable is impaired.If an objective indication shows that an individual account receivable has been impaired, an impairment takes place at individual level. Accounts receivable for which there is no objective indication of impairment at the individual level are evaluated at portfolio level for objective indication of impairment. The portfolios are primarily based on the debtors' domicile and credit rating in accordance with the company's and the group's credit risk management policy. Determination of the objective indicators applied for portfolios are based on experience with historical losses. Impairment losses are calculated as the difference between the carrying amount of accounts receivable and the present value of the expected cash flows, including the realisable value of any securities received. The effective interest rate for the individual account receivable or portfolio is used as the discount rate. Cash on hand and demand deposits Cash on hand and demand deposits comprise cash at bank and on hand. Liabilities other than provisions Other liabilities concerning payables to suppliers, group enterprises, and other payables are measured at amortised cost which usually corresponds to the nominal value. 423971132021-05-172021-12-31423971132021-12-31423971132021-05-172021-12-311423971132021-05-172021-12-311423971132021-05-172021-12-31e:RetainedEarningsMember423971132021-05-17e:ContributedCapitalMember423971132021-12-31e:ContributedCapitalMember423971132021-05-172021-12-31e:RetainedEarningsMember423971132021-12-31e:RetainedEarningsMemberiso4217:DKK