Annual report Reporting class B 15296607 Cometra ApS Parallelvej 16 2800 Kongens Lyngby 2022-01-01 2022-12-31 2024-03-22 Lisbeth Sørensen Cometra ApS Parallelvej 16 2800 Kongens Lyngby 15296607 2023-01-01 2023-12-31 Niels Bøgesvang Riis Natascha Nicole Scheldt van Deurs Lisbeth Sørensen No audit assistance Today, the Executive Board have discussed and approved the annual report of Cometra ApS for the financial year 1 January - 31 December 2023. The annual report, which has not been audited, has been prepared in accordance with the provisions of the Danish Financial Statements Act. The Executive Board considers the criteria for omission of audit to be met. In our opinion, the company 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 and cash flows for the financial year 1 January - 31 December 2023. 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 object of the company shall be to own shares in other companies and businesses and related activities as determined by the Executive Board. The Company made a profit before tax of DKK 384,463 compared to a profit of DKK -574,034 in 2022.The result is satisfactory and in line with expectations. The Company has proposed a dividend distribution for the year of 1.000.000 DKK.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 Cometra ApS for 2023 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.The financial statements are presented in Danish Kroner (DKK). Administrative expenses comprise costs incurred in the year to manage and administer the Company. Financial income and expenses comprise interest income and expenses, charges in respect of transactions denominated in foreign currencies. The Company is jointly taxed with Danish Group Companies.International N&H Denmark 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.  (b)Other securities and investmentsOther securities and investments, recognised under "Non-current assets", comprise unlisted securities measured at historical cost. Where the cost value exceeds the recoverable amount it is written down to the lower value.  (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.  The Company capital comprises of 15,000 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 International N&H Denmark 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 International Flavors & Fragrances Inc, New York, USA. These companies and its subsidiaries are considered related parties through the ownership of the Company.International N&H Denmark ApS 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.  6173 15564 -6173 -15564 10841 -420906 391377 92518 11582 230082 384463 -574034 81784 -72951 302679 -501083 2599020 2601299 2599020 2601299 2599020 2601299 2153 2423 10351 10351 14060395 13670194 0 34429 14072899 13717397 14072899 13717397 16671919 16318696 15000000 15000000 621375 1318696 1000000 0 16621375 16318696 50544 0 50544 0 50544 0 16671919 16318696 6403 -0 5179 230082 390834 38027 543 54491 1000000 0 -697321 -501083 15296607 2023-01-01 2023-12-31 15296607 2023-12-31 15296607 2023-01-01 2023-12-31 1 15296607 2023-01-01 2023-12-31 2 15296607 2023-01-01 2023-12-31 3 15296607 2023-01-01 2023-12-31 fsa:ProposedDividendRecognisedInEquityMember 15296607 2023-01-01 2023-12-31 fsa:TransferredFromToReserveFundMember 15296607 2022-01-01 2022-12-31 15296607 2022-12-31 15296607 2022-01-01 2022-12-31 fsa:ProposedDividendRecognisedInEquityMember 15296607 2022-01-01 2022-12-31 fsa:TransferredFromToReserveFundMember iso4217:DKK