ApS Syntetic Edwin Rahrsvej 38 8220 Brabrand 84746711 2021-01-01 2021-12-31 Today, the Board of Directors and the Executive Board have discussed and approved the annual report of ApS Syntetic for the financial year 1 January - 31 December 2021. In our opinion, the company financial statements give a true and fair view of the company's financial position at 31 December 2021 and of the results of the company's operations and cash flows for the financial year 1 January - 31 December 2021. Further, in our opinion, the Management's review gives a fair review of the development in the company's operations and financial matters and the results of the company's operations and financial position. We recommend that the annual report be approved at the annual general meeting. The activity of the Company has been closed, and the company is continuing as a dormant entity. The Company made a loss before tax of DKK 407.285 compared to a loss of 179.895 DKK in 2020.The result is satisfactory and in line with expectations.There are no employees in the Company, and the Executive Board have not received any remuneration. No events materially affecting the assessment of the Annual Report have occurred after the balance sheet date. The annual report of ApS Syntetic for 2021 has been prepared in accordance with the provisions in the Danish Financial Statements Act applying to reporting class B entities.The accounting policies used in the preparation of the financial statements are consistent with those of last year. Administrative expenses comprise costs incurred in the year to manage and administer the Company, including expenses related to administrative staff, management, office premises, office expenses and amortisation/depreciation. Financial income and expenses comprise interest income and expenses, charges in respect of finance leases, gains and losses on securities, payables and transactions denominated in foreign currencies, amortisation of financial assets and liabilities as well as surcharges and refunds under the on-account tax scheme, etc. The Company is jointly taxed with Danish Group Companies.DuPont Nutrition Biosciences ApS acts as management company for the joint taxation arrangement and consequently settles all corporate income tax payments with the tax authorities.On payment of joint taxation contributions, the Danish corporate income tax charge is allocated between the jointly taxed entities in proportion to their taxable income. Entities with tax losses receive joint taxation contributions from entities that have been able to use the tax losses to reduce their own taxable income.The tax expense for the year, which comprises the year's current tax charge, joint taxation contributions and changes in the deferred tax charge - including changes arising from changes in tax rates - is recognised in the income statement as regards the portion that relates to the profit/loss for the year and directly in equity as regards the portion that relates to entries directly in equity.  (a)ReceivablesReceivables are measured at amortised cost.An impairment loss is recognised if there is objective evidence that a receivable or a group of receivables is impaired. If there is objective evidence that an individual receivable has been impaired, an impairment loss is recognised on an individual basis.Impairment losses are calculated as the difference between the carrying amount of the receivables and the net present value of the expected cash flows, including the realisable value of any collateral received. The effective interest rate for the individual receivable or portfolio is used as discount rate.  (i)DividendDividend proposed for the year is recognised as a liability at the date when they are adopted at the annual general meeting (declaration date). Dividend expected to be distributed for the year is disclosed as a separate item under equity. Current tax payables and receivables are recognised in the balance sheet as tax computed on the taxable income for the year, adjusted for tax on prior-year taxable income and tax paid on account.Deferred tax is measured using the balance sheet liability method on all temporary differences between the carrying amount and the tax base of assets and liabilities. Where alternative tax rules can be applied to determine the tax base, deferred tax is measured based on the planned use of the asset or settlement of the liability, respectively.Deferred tax assets, including the tax base of tax loss carry-forwards, are measured at the value at which they are expected to be utilised, either through elimination against tax on future earnings or through a set-off against deferred tax liabilities within the same legal tax entity. Any deferred net assets are measured at net realisable values.Deferred tax is measured according to the tax rules and at the tax rates applicable at the balance sheet date when the deferred tax is expected to crystallise as current tax. Changes in deferred tax due to changes in the tax rate are recognised in the income statement. Financial liabilities are recognised at the date of borrowing at the net proceeds received less transaction costs paid. On subsequent recognition, financial liabilities are measured at amortised cost, corresponding to the capitalised value, using the effective interest rate. Accordingly, the difference between the proceeds and the nominal value is recognised in the income statement over the term of the loan.Financial liabilities also include the capitalised residual lease liability in respect of finance leases.Other liabilities are measured at net realisable value. No events materially affecting the assessment of the Annual Report have occurred after the balance sheet date. The Company capital comprises of 1,000 shares of 1,000 DKK, no shares carry any special rights. The share capital has remained unchanged for the past five years.The Company owns no treasury shares at the balance sheet date. Nor did it purchase or sell any treasury shares in the financial year.  The Danish companies in the IFF Group are jointly taxed and jointly liable for the total tax of the Group. The net payable tax is included in the annual report of DuPont Nutrition Biosciences ApS, which is the administration company for the group taxation. Any later corrections of the taxable income may increase the total liable amount.  The ultimate parent company of the group in which the Company is included as a subsidiary is DuPont de Nemours Inc., Delaware, USA until 31 January 2021. From 1 February the ultimate parent company is IFF Inc, New York, USA. These companies and its subsidiaries are considered related parties through the ownership of the Company.DuPont Nutrition Biosciences ApS, Denmark holds the majority of the share capital in the entity.In accordance with section 98c (7) of the Danish Financial Statements Act, all transactions with related parties have been conducted at arm's length. Årsrapport ApS Syntetic Edwin Rahrsvej 38 8220 Brabrand 2020-01-01 2020-12-31 2022-01-13 Lisbeth Sørensen Direktør No audit assistance Reporting class B 0 0 407346 180206 -407346 -180206 -407346 -180206 93 1134 32 823 -407285 -179895 -50045 -59755 -357240 -120140 -357240 -120140 0 0 10468 0 996559 1186308 1007027 1186308 1007027 1186308 1007027 1186308 1000000 1000000 -170932 186308 829068 1186308 177959 0 177959 0 177959 0 1007027 1186308 93 1134 32 823 -357240 -120140 84746711 2021-01-01 2021-12-31 84746711 2021-12-31 84746711 2021-01-01 2021-12-31 1 84746711 2021-01-01 2021-12-31 1 84746711 2021-01-01 2021-12-31 1 84746711 2021-01-01 2021-12-31 1 84746711 2021-01-01 2021-12-31 fsa:TransferredFromToReserveFundMember 84746711 2020-01-01 2020-12-31 84746711 2020-12-31 84746711 2020-01-01 2020-12-31 fsa:TransferredFromToReserveFundMember iso4217:DKK