The executive board has today discussed and approved the annual report of Successteam ApS for the financial year 1 January - 31 December 2023.The annual report is prepared in accordance with the Danish Financial Statements Act.In my opinion, the financial statements give a true and fair view of the company's financial position at 31 December 2023 and of the results of the company's operations for the financial year 1 January - 31 December 2023.In my opinion, management's review includes a fair review of the matters dealt with in the management's review.The financial statements have not been audited. Management considers the criteria for not auditing the financial statements to be met.Management recommends that the annual report should be approved by the company in general meeting.Nadia Taarup NielssonCEOTo the shareholder of Successteam ApSWe have compiled the financial statements of Successteam ApS for the financial year 1 January - 31 December 2023 based on the company's bookkeeping records and other information made available by enterprise. The financial statements comprises a summary of significant accounting policies, income statement, balance sheet, statement of changes in equity and notes. We performed the engagement in accordance with ISRS 4410, Compilation Engagements. We have applied our professional expertise to assist the enterprise in the preparation and presentation of the financial statements in accordance with the Danish Financial Statements Act. We complied with the relevant provisions of the Danish Act on Approved Auditors and with the International Ethics Standards Board for Accountants' Code of Ethics for Professional Accountants (IESBA Code), including principles relating to integrity, objectivity, professional competence and due care. The financial statements and the accuracy and completeness of the information used to compile the financial statements are the enterprise´s responsibility. As a compilation engagement is not an assurance engagement, we are not required to verify the accuracy or completeness of the information provided by enterprise for our compilation of the financial statements. Accordingly, we do not express an audit or a review conclusion on whether the financial statements have been prepared in accordance with the Danish Financial Statements Act.Copenhagen2024-03-18Baker Tilly DenmarkRamazan Turanstatsautoriseret revisormne32779Business review The company's primary activity revolves around the development, marketing, and trading of software, including software-as-a-service, HR services, and other related businesses.Financial review The company's income statement for the year ended 31 December 2023 shows a loss of DKK 537.682, and the balance sheet at 31 December 2023 shows negative equity of DKK 415.771. In the first half of 2023, our primary focus was optimizing our platform to be scalable and ready for full launch. Key objectives were to achieve easy onboarding, a seamless user experience, high engagement, acceptable product stickiness, and, most importantly, an experience where users willingly upgrade to our paid Essential plans. To accomplish this, we streamlined our self-service onboarding and upgrade flow, integrated seamless payment through Stripe into our admin backend, and improved our billing functionality for a smoother user experience. We've also made our platform bilingual, supporting Danish and English languages. This allows our customers to choose their preferred language at a user level while still receiving quality data, even if different individuals respond to employee feedback in both DK or EN in the same Workspace. While this change was substantial, we firmly believe it ensures scalability and that our product effectively meets market demands. A significant milestone was achieved in August 2023 with the successful launch. Following the launch, we've been dedicated to stabilizing the platform, collaborating closely with a few select design partners to refine workflow processes, and incorporating essential functionality demanded by our customers. Our primary objective has been to ensure the seamless functionality of our services, with a strong emphasis on a powerful UX/UI to create an effortless, user-friendly experience. Our attention has been devoted to nurturing our core customer base, ensuring their continued satisfaction and sustained engagement. With only a few resources, we have yet to be able to focus time and resources on sales and marketing. Hence, our Monthly Recurring Revenue (MRR) has grown relatively slowly over the past six months. However, we have acquired prominent new customers, which underscores our product-market-fit and market needs. These experiences have enriched our understanding and positioned us well for future expansion. Looking ahead to 2024, our primary goal is to secure funding to expand our operations, initiate sales efforts, and implement rich marketing strategies. This will enable us to grow our business further and reach new heights of success in the coming year.Significant events occurring after the end of the financial year No events have occurred after the balance sheet date which could significantly affect the company's financial position.33821566211815612645793423220-520501-107958155178738111341-527727-11912199550-537682-11912124031030-2940785-1191213080901002113542308090121135420100000041990014199030809012255532134219552762881300422349552761648824615587231598913668132231542375000075000024031030-3568874-628089-41577112191129808502980850653668706734252646413699595461219498059565218393785818219351237858182193512366813223154237500000-6280892403103-29407857500002403103-356887418156126457918156126457911-28813001489800149105002601458013096813911139-3911139391113900-487916-3423220-487916487916-830238030809010Årsrapport35257691Baker Tilly DenmarkPoul Bundgaards Vej 1, 1.2500 Valby2023-01-012023-12-312022-01-012022-12-3140896325Successteam ApSKultorvet11, 2. tv1175København KDKDanmark2019-10-24KøbenhavnBaker Tilly Denmark35257691Ramazan Turanstatsautoriseret revisorPoul Bundgaards Vej1, 1.2500ValbyDKDanmark334510002024-03-18Nadia Taarup NielssonRegnskabsklasse BtrueAndre erklæringer uden sikkerhedCaseWare-FSRThe annual report of Successteam ApS for 2023 has been prepared in accordance with the provisions of the Danish Financial Statements Act applying to enterprises of reporting class B, as well as provisions applying to reporting class C entities. The accounting policies applied are consistent with those of last year.Income is recognised in the income statement as earned, including value adjustments of financial assets and liabilities. All expenses, including amortisation, depreciation and impairment losses, 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 the company and the value of 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 the value 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 as described below for each individual accounting item. Certain financial assets and liabilities are measured at amortised cost using the effective interest method. Amortised cost is calculated as the historic cost less any installments and plus/less the accumulated amortisation of the difference between the cost and the nominal amount. On recognition and measurement, allowance is made for predictable losses and risks which occur before the annual report is presented and which confirm or invalidate matters existing at the balance sheet date.In pursuance of section 32 of the Danish Financial Statements Act, the company does not disclose its revenue. Gross profit reflects an aggregation of revenue, changes in inventories of finished goods and work in progress and other operating income less costs of raw materials and consumables and other external expenses.Revenue from the sale of software licenses is recognized in the income statement when delivery and transfer of risk to the buyer have occurred, and if the revenue can be reliably measured and is expected to be received.Other external expenses include expenses related to sale, advertising, administration, external consultants and premises.Staff costs include wages and salaries, including compensated absence and pensions, as well as other social security contributions, etc. made to the entity's employees.Amortisation and impairment of intangible assets comprise the year's amortisation and impairment of intangible assets.Financial income and expenses are recognised in the income statement at the amounts that relate to the financial year. Net financials include interest income and expenses, financial expenses relating to realised and unrealised capital/exchange gains and losses on currency transactions and liabilities and surcharges and allowances under the Danish Tax Prepayment Scheme, etc.Tax for the year, which comprises the current tax charge for the year and changes in the deferred tax charge, 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.Ongoing development projects and completed development projects Development costs comprise costs, wages/salaries and amortisation losses that are directly and indirectly attributable to the company's development activities. Developments projects recognised in the balance sheet are measued at cost less accumulated amortisation and impairment losses. Followoing the completion of the development work, development costs are amortised on a straight.line basis over the estimated useful life. The amortisation period is usually 10 years.Receivables are measured at amortised cost.Current tax liabilities and current tax receivables are recognised in the balance sheet as the estimated tax on the taxable income for the year, adjusted for tax on the taxable income for previous years and tax paid on account. Deferred tax is measured according to the liability method in respect of temporary differences between the carrying amount of assets and liabilities and their tax base, calculated on the basis of the planned use of the asset and settlement of the liability, respectively. Deferred tax is measured at net realisable value.Liabilities, which include trade payables, payables to group entities and other payables, are measured at amortised cost, which is usually equivalent to nominal value.408963252023-01-012023-12-31408963252023-01-012023-12-311408963252022-01-012022-12-31408963252022-12-31408963252023-12-31408963252023-01-012023-12-311408963252023-01-01g:ContributedCapitalMember408963252023-12-31g:ContributedCapitalMember408963252023-01-01g:RetainedEarningsMember408963252023-01-012023-12-31g:RetainedEarningsMember408963252023-12-31g:RetainedEarningsMember408963252023-01-01g:CompletedDevelopmentProjectsMember408963252023-01-01g:DevelopmentProjectsInProgressMember408963252023-01-012023-12-31g:DevelopmentProjectsInProgressMember408963252023-12-31g:DevelopmentProjectsInProgressMember408963252023-01-012023-12-31g:CompletedDevelopmentProjectsMember408963252023-12-31g:CompletedDevelopmentProjectsMember408963252023-01-01g:ReserveForDevelopmentExpenditureMember408963252023-01-012023-12-31g:ReserveForDevelopmentExpenditureMember408963252023-12-31g:ReserveForDevelopmentExpenditureMemberiso4217:DKKxbrli:pure