Årsrapport Morten Bradsted Nielsen 2022-12-19 Revisionspåtegning Regnskabsklasse B Beierholm Voergaardvej 2 9200 Aalborg SV 2020-07-01 2021-06-30 2021-07-01 2022-06-30 39690799 Global Equestrian Group ApS Uggerhalnevej 80 9310 Vodskov Aalborg Beierholm 32895468 Knud Højgaards Vej 9 2860 Søborg Danmark true We have on this day presented the annual report for the financial year 01.07.21 - 30.06.22 for Global Equestrian Group ApS. The annual report is presented in accordance with the Danish Financial Statements Act (Årsregnskabsloven). In our opinion, the financial statements give a true and fair view of company's assets, liabilities and financial position as at 30.06.22 and of the results of company's activities for the financial year 01.07.21 - 30.06.22. We believe that the management's review includes a fair review of the matters dealt with in the management's review. The annual report is submitted for adoption by the general meeting. Vodskov 2022-11-24 Morten Bradsted Nielsen Lars Andreas Helgstrand Kaspar Ronald Kristiansen Chairman Niels Thomas Heering Michael Toxværd Hansen To the capital owner of Global Equestrian Group ApS Opinion We have audited the financial statements of Global Equestrian Group ApS for the financial year 01.07.21 - 30.06.22, which comprise the income statement, balance sheet, statement of changes in equity and notes to the financial statements, including a summary of significant accounting policies. The financial statements are prepared in accordance with the Danish Financial Statements Act (Årsregnskabsloven). In our opinion the financial statements give a true and fair view of the company's assets, liabilities and financial position at 30.06.22 and of the results of the company's operations for the financial year 01.07.21 - 30.06.22 in accordance with the the Danish Financial Statements Act (Årsregnskabsloven). Basis for Opinion We conducted our audit in accordance with International Standards on Auditing 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. Management 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 assurance conclusion 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 during the 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 Danish Financial Statements Act. Based on the work we have performed, we conclude that management’s review is in accordance with the financial statements and has been prepared in accordance with the requirements of the Danish Financial Statements Acts. We did not identify any material misstatement of management’s review. The Management is responsible for the preparation of financial statements that give a true and fair view in accordance with the Danish Financial Statements Act. Furthermore the Management is responsible for the internal control as the 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 company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting in preparing the financial statements unless management either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so. Our 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 International Standards on Auditing 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 International Standards on Auditing and the additional requirements applicable in Denmark, we exercise professional judgment and maintain professional skepticism 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 in the 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 related disclosures 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 whether the 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 audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Soeborg, Copenhagen 2022-11-24 Henrik Agner Hansen State Authorized Public Accountant mne28682 Primary activities The company's activities comprise of owning shares, directly or indirectly, in other companies and other business realated herto. Development in activities and financial affairs The income statement for the period 01.07.21 - 30.06.22 shows a profit/loss of DKK'000 -77,482 against DKK'000 4,009 for the period 01.07.20 - 30.06.21. The balance sheet shows equity of DKK'000 878,759. Subsequent events No important events have occurred after the end of the financial year. -39630000 -14407000 8934000 5482000 120820000 50958000 28927000 2358000 225526000 33894000 -124343000 -467000 -46861000 -4476000 -77482000 4009000 120781000 34854000 -198263000 -30845000 998412000 797722000 1590350000 61470000 2000000 2000000 2590762000 861192000 2590762000 861192000 99000 0 6025000 114985000 1194000 0 8156000 8816000 0 149000 494000 276000 15968000 124226000 465000 2569000 16433000 126795000 2607195000 987987000 1000000 1000000 117041000 35072000 132995000 0 627723000 418456000 878759000 454528000 0 1326000 0 1326000 1543357000 0 92890000 321771000 1636247000 321771000 0 74879000 10057000 98000 55944000 134144000 26188000 1241000 92189000 210362000 1728436000 532133000 2607195000 987987000 1000000 0 367604000 218000 81697000 34854000 -30845000 1000000 35072000 418456000 14231000 406760000 -52273000 -770000 770000 120781000 -198263000 1000000 117041000 627723000 8674000 5331000 26000 16000 234000 135000 8 5 28919000 2358000 8000 0 2873000 2915000 99443000 1272000 110664000 4110000 12546000 25597000 -1194000 0 762649000 2000000 76310000 42412000 881371000 2000000 998412000 2000000 Equestrian Ventures ApS Vodskov 100 Riding Arena Robots ApS Vodskov 75 Ejendomsselskabet Helgstrand ApS Vodskov 100 Helgstrand Global Properties ApS Vodskov 100 Helgstrand Germany Property GmbH Syke, Germany 100 Helgstrand Windsome LLC Florida, USA 100 Helgstrand Dressage ApS Vodskov 100 Helgstrand Event ApS Vodskov 100 Helgstrand Dressage US LLC Florida, USA 100 Helgstrand Dressage Germany GmbH Syke, Germany 100 Helgstrand Jewellery ApS Vodskov 100 Kingsland AS Sarpsborg, Norway 100 Kingsland AB Gråbo, Sweden 100 Kingsland DK ApS Ikast 100 Kingsland Equestrian Inc. Florida, USA 100 Kingsland Asia Ltd. HongKong 100 Kingsland Trading Co., Ltd. Hangzhou, China 100 StandbyCo Germany ApS Vodskov 100 StandbyCo Germany Holding GmbH Syke, Germany 100 Beerbaum Stables GbmH Hörstel, Germany 100 Equestrian Events Holding ApS Vodskov 100 StandbyCo US II Inc. Delaware, USA 100 Palm Beach International Equestrian Center, LLC Florida, USA 100 Far Niente Stables XXV, LLC Florida, USA 100 White Horse Catering, LLC Florida, USA 100 Far Niente Stables V, LLC Florida, USA 100 Far Niente Stables XX, LLC Florida, USA 100 Equestrian Sport Productions, LLC Florida, USA 100 Wellington Equestrian Productions, LLC Florida, USA 100 Showgrounds, LLC Florida, USA 100 PK Agency GmbH Syke, Germany 100 61550000 1528800000 1590350000 1590350000 1543357000 1543357000 0 92890000 321771000 The annual report is presented in accordance with the provisions of the Danish Financial Statements Act (Årsregnskabsloven) for enterprises in reporting class B with application of provisions for a higher reporting class. In accordance with section 112 of the Danish Financial Statements Act, company's has not prepared consolidated financial statements. Company's is a subsidiary of Global Equestrian Group Holding ApS, Vodskov, CVR no. 39 69 07 48, which prepares consolidated financial statements. Income is recognised in the income statement as earned, including value adjustments of financial assets and liabilities. All expenses, including depreciation, amortisation, impairment losses and write-downs, are also recognised in the income statement. Assets are recognised in the balance sheet when it is probable that future economic benefits will flow to company's, and the value of such assets can be measured reliably. Liabilities are recognised in the balance sheet when it is probable that future economic benefits will flow from company's, and the value of such liabilities can be measured reliably. On initial recognition, assets and liabilities are measured at cost. Subsequently, assets and liabilities are measured as described for each item below. On recognition and measurement, account is taken of foreseeable losses and risks arising before the date at which the annual report is presented and proving or disproving matters arising on or before the balance sheet date. Newly acquired or newly founded enterprises are recognised as from the date of acquisition and the date of foundation, respectively. The date of acquisition is the date at which control of the enterprise is obtained. Divested or discontinued enterprises are recognised until the date of divestment or discontinuation. The date of discontinuation is the date at which control of the enterprise passes to a third party. Acquired enterprises are recognised in accordance with the acquisition method, according to which the identifiable assets and liabilities of the newly acquired enterprises are measured at fair value at the date of acquisition. The cost of the equity investments in the acquired enterprises is offset against the proportionate share of the fair value of the enterprises' net assets at the acquisition date. On acquisition of subsidiaries, goodwill is recognised on a proportionate basis based on the actual ownership interest in the acquired equity investments. The goodwill (positive difference) determined at the date of acquisition is recognised under equity investments in subsidiaries in the balance sheet. Goodwill from acquired enterprises is adjusted until 12 months after the acquisition date. On acquisitions of subsidiaries in stages, the cost of acquired equity investments is added to the carrying amount of existing equity investments. The annual report is presented in Danish kroner (DKK). On initial recognition, transactions denominated in foreign currencies are translated using the exchange rates applicable at the transaction date. Exchange rate differences between the exchange rate applicable at the transaction date and the exchange rate at the date of payment are recognised in the income statement as a financial item. Receivables, payables and other monetary items denominated in foreign currencies are translated using the exchange rates applicable at the balance sheet date. The difference between the exchange rate applicable at the balance sheet date and at the date at which the receivable or payable arose or was recognised in the latest annual report is recognised under financial income or expenses in the income statement. Fixed assets and other non-monetary assets acquired in foreign currencies are translated using historical exchange rates. On recognition of independent foreign entities, the income statements are translated at the exchange rates applicable at the transaction date or approximate average exchange rates. The balance sheet items are translated using the exchange rates applicable at the balance sheet date. Foreign currency translation adjustments arising from the translation of equity at the beginning of the year using the exchange rates applicable at the balance sheet date and from the translation of income statements from average exchange rates to the exchange rates applicable at the balance sheet date are recognised directly in equity under the reserve for net revaluation according to the equity method in respect of investments measured according to the equity method, and otherwise under the foreign currency translation reserve. Translation adjustments of intercompany balances with independent foreign entities, measured using the equity method and where the balance is considered to be part of the overall investment, are recognised directly in equity under the foreign currency translation reserve. On the divestment of foreign entities, accumulated exchange differences are recognised in the income statement. Gross loss comprises revenue and other operating income and other external expenses. Income from the sale of services is recognised in the income statement as delivery takes place (delivery method). Revenue is measured at the selling value of the agreed consideration exclusive of VAT and other taxes collected on behalf of third parties and less discounts. Other operating income comprises income of a secondary nature in relation to the enterprise’s activities, including rental income, negative goodwill and gains on the sale of intangible assets and property, plant and equipment. Other external expenses comprise selling costs, vehicle expenses and administrative expenses Staff costs comprise wages and salaries as well as other staff-related costs. For equity investments in equity investments in subsidiaries, measured using the equity method, the share of the enterprises’ profit or loss is recognised in the income statement after elimination of unrealised intercompany profits and losses and less any goodwill amortisation and impairment losses. Income from equity investments in equity investments in subsidiaries also comprises gains and losses on the sale of equity investments. Interest income and interest expenses, foreign exchange gains and losses on transactions denominated in foreign currencies etc. are recognised in other net financials. The current and deferred tax for the year is recognised in the income statement as tax on the profit/loss for the year with the portion attributable to the profit/loss for the year, and directly in equity with the portion attributable to amounts recognised directly in equity. Company's is jointly taxed with Danish consolidated enterprises. In connection with the settlement of joint taxation contributions, the current Danish income tax is allocated between the jointly taxed enterprises in proportion to their taxable incomes. This means that enterprises with a tax loss receive joint taxation contributions from enterprises which have been able to use this loss to reduce their own taxable profit. Equity investments in subsidiaries are recognised and measured according to the equity method. For equity investments in subsidiaries, the equity method is considered a measurement method. Accounting policies for the acquisition of subsidiaries are stated in the 'Business combinations' section. On initial recognition, equity investments measured according to the equity method are measured at cost. Transaction costs directly attributable to the acquisition are recognised in the cost of equity investments. Under subsequent recognition and measurement of equity investments according to the equity method, equity investments are measured at the proportionate share of the enterprises' equity value, determined according to the accounting policies of the parent, adjusted for the remaining value of goodwill and gains and losses on transactions with the enterprises in question. Equity investments, where information for recognition according to the equity method is not known, are measured at cost. Equity investments with a negative carrying amount are measured at DKK 0. Receivables that are considered part of the combined investment in the enterprises in question are impaired by any remaining negative equity value. Other receivables from such enterprises are impaired to the extent that such receivables are considered uncollectible. Provisions to cover the remaining negative equity value are recognised to the extent that company's has a legal or constructive obligation to cover the liabilities of the enterprise in question. Goodwill recognised under equity investments is amortised according to the straight-line method based on an individual assessment of the useful life of the asset. The useful life of goodwill has been determined at 10 years for equity investments in subsidiaries. The useful life has been determined in consideration of the expected future net earnings of the enterprise to which the goodwill relates. For equity investments measured according to the equity method, the proportionate share of the equity investments' equity value is determined according to the accounting policies of the parent, stated in the other sections. Equity value is also based on the following accounting policies: Revenue: Income from the sale of goods is recognised in the income statement if delivery has taken place and the risk has passed to the buyer before the end of the financial year and where the selling price can be determined reliably and is expected to be paid. Revenue is measured at fair value and is determined exclusive of VAT and other taxes collected on behalf of third parties and less discounts. Income from the sale of services is recognised in the income statement as delivery takes place (delivery method). Revenue is measured at the selling value of the agreed consideration exclusive of VAT and other taxes collected on behalf of third parties and less discounts. Acquired rights: Aquired rights are measured in the balance sheet at cost less accumulated amortisation and impairment losses. Acquired rights are amortised using the straight-line method based on useful lives of 10 years. Property, plant and equipment: Property, plant and equipment comprise land and buildings as well as other fixtures and fittings, tools and equipment. Property, plant and equipment are measured in the balance sheet at cost less accumulated depreciation and impairment losses. Cost comprises the purchase price and expenses resulting directly from the purchase until the asset is ready for use. Interest on loans arranged to finance production is not included in the cost. The total cost of an asset is decomposed into separate components that are depreciated separately if the useful lives of the individual components vary. Property, plant and equipment are depreciated using the straight-line method based on useful lives of 15-50 years. Inventories Inventories are measured at cost calculated according to the FIFO-method. Inventories are written down to the lower of cost and net realisable value. The cost of raw materials and consumables as well as goods for resale is determined as purchase prices plus expenses resulting directly from the purchase. The net realisable value of inventories is determined as the selling price less costs of completion and costs necessary to make the sale and is determined taking into account marketability, obsolescence and the expected development in the selling price. Gains or losses on disposal of equity investments are determined as the difference between the disposal consideration and the carrying amount of net assets at the time of sale, including non-amortised goodwill, as well as the expected costs of divestment or discontinuation. Gains and losses are recognised in the income statement under income from equity investments. The carrying amount of fixed assets which are not measured at fair value is assessed annually for indications of impairment over and above what is reflected in depreciation and amortisation. If company's realised return on an asset or a group of assets is lower than expected, this is considered an indication of impairment. If there are indications of impairment, an impairment test is conducted of individual assets or groups of assets. The assets or groups of assets are impaired to the lower of recoverable amount and carrying amount. The higher of net selling price and value in use is used as the recoverable amount. The value in use is determined as the present value of expected net cash flows from the use of the asset or group of assets as well as expected net cash flows from the sale of the asset or group of assets after the expiry of their useful lives. Impairment losses are reversed when the reasons for the impairment no longer exist. Receivables are measured at amortised cost, which usually corresponds to the nominal value, less write-downs for bad debts. Write-downs for bad debts are determined based on an individual assessment of each receivable if there is no objective evidence of individual impairment of a receivable. Prepayments recognised under assets comprise costs incurred in respect of subsequent financial years. Equity investments that are not classified as group enterprises, associates or participating interests and which are not traded in an active market are measured in the balance sheet at cost. Cash includes deposits in bank account as well as operating cash. The net revaluation of equity investments measured according to the equity method is recognized in the net revaluation reserve in equity according to the equity method to the extent that the carrying amount exceeds the cost. Unrealised foreign currency gains and losses from the translation of the net investment in independent foreign entities are recognised in equity under the foreign currency translation reserve. The reserve is dissolved when the independent foreign entities are disposed of. Grants received from the parent are recognised directly in equity under retained earnings, as the grants are treated as capital contributions. Current tax payable and receivable is recognised in the balance sheet as tax computed on the basis of the taxable income for the year, adjusted for tax paid on account. Joint taxation contributions payable and receivable are recognised as income tax under receivables or payables in the balance sheet. Deferred tax liabilities and tax assets are recognised on the basis of all temporary differences between the carrying amounts and tax bases of assets and liabilities. However, deferred tax is not recognised on temporary differences relating to goodwill which is non-amortisable for tax purposes and other items where temporary differences, except for acquisitions, have arisen at the date of acquisition without affecting the net profit or loss for the year or the taxable income. In cases where the tax value can be determined according to different taxation rules, deferred tax is measured on the basis of management’s intended use of the asset or settlement of the liability. Deferred tax assets are recognised, following an assessment, at the expected realisable value through offsetting against deferred tax liabilities or elimination in tax on future earnings. Deferred tax is measured on the basis of the tax rules and at the tax rates which, according to the legislation in force at the balance sheet date, will be applicable when the deferred tax is expected to crystallise as current tax. Long-term payables are measured at cost at the time of contracting such liabilities (raising of the loan). The payables are subsequently measured at amortised cost where capital losses and loan expenses are recognised in the income statement as a financial expense over the term of the payable on the basis of the calculated effective interest rate in force at the time of contracting the liability. Short-term payables are measured at amortised cost, normally corresponding to the nominal value of such payables. Figures in DKK '000 Share capital Reserve for net revaluation according to the equity method Foreign currency translation reserve Retained earnings Total equity Statement of changes in equity for 01.07.20 - 30.06.21 Balance as at 01.07.20 1,000 0 0 367,604 368,604 Foreign currency translation adjustment of foreign enterprises 0 218 0 0 218 Group contribution 0 0 0 81,697 81,697 Net profit/loss for the year 0 34,854 0 -30,845 4,009 Balance as at 30.06.21 1,000 35,072 0 418,456 454,528 Statement of changes in equity for 01.07.21 - 30.06.22 Balance as at 01.07.21 1,000 35,072 0 418,456 454,528 Foreign currency translation adjustment of foreign enterprises 0 14,231 170,506 0 184,737 Group contribution 0 0 0 406,760 406,760 Purchase of non-controlling interests 0 -52,273 0 0 -52,273 Tax on changes in equity 0 0 -37,511 0 -37,511 Transfers to/from other reserves 0 -770 0 770 0 Net profit/loss for the year 0 120,781 0 -198,263 -77,482 Balance as at 30.06.22 1,000 117,041 132,995 627,723 878,759 1. Special items Special items are income and expenses that are special due to their size and nature. The following special items were recorded in the financial year: Special items: Recognised in the income statement in: 2021/22 DKK '000 2020/21 DKK '000 Cost related to acquisition of enterprises Other external costs (gross result) 32,157 17,675 Total 32,157 17,675 7. Investments Figures in DKK '000 Equity investments in group enterprises Other investments Cost as at 01.07.21 762,649 2,000 Additions during the year 76,310 0 Transfers during the year to/from other items 42,412 0 Cost as at 30.06.22 881,371 2,000 Revaluations as at 01.07.21 35,072 0 Foreign currency translation adjustment of foreign enterprises 14,231 0 Amortisation of goodwill -64,102 0 Net profit/loss from equity investments 184,882 0 Fair value adjustment of hedging instruments 301 0 Other equity adjustments relating to equity investments -770 0 Other adjustments relating to equity investments -52,573 0 Revaluations as at 30.06.22 117,041 0 Carrying amount as at 30.06.22 998,412 2,000 Positive balances ascertainable on initial recognition of equity investments measured at equity value 0 0 7. Investments - continued - Name and registered office: Ownership interest Subsidiaries: Equestrian Ventures ApS, Vodskov 100 Riding Arena Robots ApS, Vodskov 75 Ejendomsselskabet Helgstrand ApS, Vodskov 100 Helgstrand Global Properties ApS, Vodskov 100 Helgstrand Germany Property GmbH, Syke, Germany 100 Helgstrand Windsome LLC, Florida, USA 100 Helgstrand Dressage ApS, Vodskov 100 Helgstrand Event ApS, Vodskov 100 Helgstrand Dressage US LLC, Florida, USA 100 Helgstrand Dressage Germany GmbH, Syke, Germany 100 Helgstrand Jewellery ApS, Vodskov 100 Kingsland AS, Sarpsborg, Norway 100 Kingsland AB, Gråbo, Sweden 100 Kingsland DK ApS, Ikast 100 Kingsland Equestrian Inc., Florida, USA 100 Kingsland Asia Ltd., HongKong 100 Kingsland Trading Co., Ltd., Hangzhou, China 100 StandbyCo Germany ApS, Vodskov 100 StandbyCo Germany Holding GmbH, Syke, Germany 100 Beerbaum Stables GbmH, Hörstel, Germany 100 Equestrian Events Holding ApS, Vodskov 100 StandbyCo US II Inc., Delaware, USA 100 Palm Beach International Equestrian Center, LLC, Florida, USA 100 Far Niente Stables XXV, LLC, Florida, USA 100 White Horse Catering, LLC, Florida, USA 100 Far Niente Stables V, LLC, Florida, USA 100 Far Niente Stables XX, LLC, Florida, USA 100 Equestrian Sport Productions, LLC, Florida, USA 100 Wellington Equestrian Productions, LLC, Florida, USA 100 Showgrounds, LLC, Florida, USA 100 PK Agency GmbH, Syke, Germany 100 9. Other provisions Other provisions are expected to be distributed as follows: Current liabilities 0 1,326 Recourse guarantee commitments Company's has provided a guarantee whereby the guarantor assumes primary liability for group enterprises' debt to credit institutions. The guarantee is maximised at DKK 5,000k. The group enterprises' debt to the credit institutions concerned amounts to DKK 99,658k at the balance sheet date. Other contingent liabilities The company is taxed jointly with the other Danish companies in the group and has joint, several and unlimited liability for income taxes and any obligations to withhold tax at source on interest, royalties and dividends for the jointly taxed companies. The liability also includes any subsequent corrections to the calculated tax liability as a consequence of changes made to the jointly taxable income etc. In addition the company has issued letters of support to group enterprises ensuring the necessary liquidity for the ongoing operations of these companies. Company's is included in the consolidated financial statements of the parent Global Equestrian Group Holding ApS, Vodskov. 39690799 2021-07-01 2022-06-30 39690799 2020-07-01 2021-06-30 39690799 2021-07-01 2022-06-30 e:ReserveForNetRevaluationAccordingToEquityMethodMember 39690799 2021-07-01 2022-06-30 e:RetainedEarningsMember 39690799 2020-07-01 2021-06-30 e:RetainedEarningsMember 39690799 2021-06-30 39690799 2022-06-30 39690799 2021-07-01 e:InvestmentsInGroupEnterprisesMember 39690799 2021-07-01 2022-06-30 e:InvestmentsInGroupEnterprisesMember 39690799 2022-06-30 e:InvestmentsInGroupEnterprisesMember 39690799 2021-07-01 2022-06-30 1 39690799 2021-07-01 2022-06-30 2 39690799 2021-07-01 2022-06-30 3 39690799 2021-07-01 2022-06-30 1 39690799 2021-07-01 2022-06-30 2 39690799 2022-06-30 e:ContributedCapitalMember 39690799 2022-06-30 e:ReserveForNetRevaluationAccordingToEquityMethodMember 39690799 2021-07-01 2022-06-30 e:ReserveForNetRevaluationAccordingToEquityMethodMember 39690799 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