44157969 2023-06-28 2024-03-31 44157969 2023-06-28 2024-03-31 auditor_1 44157969 2023-06-28 2024-03-31 memberOfBoardIdentifier_1 44157969 2023-06-28 2024-03-31 memberOfBoardIdentifier_2 44157969 2024-03-31 44157969 2023-06-27 fsa:ContributedCapitalMember 44157969 2023-06-28 2024-03-31 fsa:ContributedCapitalMember 44157969 2023-06-28 2024-03-31 fsa:ReserveForDevelopmentExpenditureMember 44157969 2023-06-28 2024-03-31 fsa:RetainedEarningsMember 44157969 2024-03-31 fsa:ContributedCapitalMember 44157969 2024-03-31 fsa:ReserveForDevelopmentExpenditureMember 44157969 2024-03-31 fsa:RetainedEarningsMember iso4217:DKK pure Årsrapport 2023-06-28 2024-03-31 2024-06-14 44157969 2024-06-14 2023-06-28 Reporting class B KPMG 2100 København Ø Dampfærgevej 28 25578198 Auditor's reports (Other non-assurance reports) Copenhagen 2024-06-14 KPMG 25578198 Suzanne Zamany Andersen The Executive Board has today discussed and approved the annual report for NitroVolt ApS for the financial year 28 June 2023 - 31 March 2024. The annual report, which has not been audited, is presented in accordance with the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the Company's assets, liabilities and financial position at 31 March 2024 and of the results of the Company's operations for the financial year 28 June 2023 - 31 March 2024.Further, in our opinion, the Management's review gives a fair review of the matters discussed in the Management's review. We recommend that the annual report be approved at the annual general meeting. Management confirms that the Company fulfils the requirement to be exempt from audit. Mattia Saccoccio CEO Suzanne Zamany Andersen CEO Auditor's report on compilation of financial statements To the Management of NitroVolt ApS We have compiled the financial statements of NitroVolt ApS for the financial year 28 June 2023 - 31 March 2024 based on the Company's bookkeeping records and other information provided by you.The financial statements comprise income statement, balance sheet, statement of changes in equity and notes, including accounting policies.We performed our work in accordance with ISRS 4410 Compilation Engagements.We have applied our professional expertise in accounting and financial reporting to assist you in the preparation and presentation of these financial statements in accordance with the Danish Financial Statements Act. We have complied with relevant provisions of the Auditor Act, including the requirements for independence, and International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code), which is based on fundamental principles of integrity, objectivity, professional competence and due care.These financial statements and the accuracy and completeness of the information used to compile them are your responsibility. Since 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 to compile these financial statements. Accordingly, we do not express an audit opinion or a review conclusion as to whether these financial statements are prepared in accordance with the Danish Financial Statements Act. Morten Høgh-Petersen mne34283 NitroVolt ApS Maskinvej 5 DK-2860 Søborg Gladsaxe Principal activities The purpose of the company is to develop and sell systems for the production of active nitrogen for fertilizer and other purposes, as well as any business related thereto. Development in activities and financial position The Company's income statement for 28 June 2023 - 31 March 2024 shows a profit of DKK 1,326,873. Equity in the Company's balance sheet at 31 March 2024 stood at DKK 1,366,873. Events after the balance sheet date No events have occurred after the balance sheet date of material importance to the annual report for 28 June 2023 - 31 March 2024. 1329285 2412 1326873 0 1326873 1044952 281921 1339683 1339683 57820 5748865 5806685 7146368 40000 1044952 281921 1366873 5573325 189793 16377 5779495 7146368 40000 0 1044952 281921 40000 1044952 281921 The annual report of NitroVolt ApS for 28 June 2023 - 31 March 2024 has been prepared in accordance with the provisions applying to reporting class B entities under the Danish Financial Statements Act with opt-in from higher reporting classes. Foreign currency translation On initial recognition, transactions denominated in foreign currencies are translated at the exchange rates at the transaction date. Foreign exchange differences arising between the exchange rates at the transaction date and the date of payment are recognised in the income statement as financial income or financial expenses. Receivables, payables and other monetary items denominated in foreign currencies are translated at the exchange rates at the balance sheet date. The difference between the exchange rates at the balance sheet date and the date at which the receivable or payable arose or was recognised in the latest financial statements is recognised in the income statement as financial income or financial expenses. Other operating income Other operating income comprises items secondary to the activities of the Company, including gains on the disposal of intangible assets and property, plant and equipment as well as payroll refunds. Other external costs Other external costs comprise costs for distribution and sales costs, costs for advertising, administrative expenses, costs of premises, bad debts, operating leases, etc. Financial income and expenses Financial income and expenses comprise interest income and expense, financial costs regarding 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. Tax on profit for the year Tax for the year comprises current tax for the year and changes in deferred tax, including changes in tax rates. The tax expense relating to the profit/loss for the year is recognised in the income statement at the amount attributable to the profit/loss for the year and directly in equity at the amount attributable to entries directly in equity. Intangible assets Development costs and costs for internally generated rights are recognised in the income statement in the acquisition year. Receivables Receivables are measured at amortised cost. Write-down is made for bad debt losses where there is an objective indication that a receivable has been impaired. If there is an objective indication that an individual receivable has been impaired, write-down is made on an individual basis. Write-downs are calculated as the difference between the carrying amount of receivables and the present value of forecast 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. Cash at bank and in hand Cash at bank and in hand comprise cash and bank deposits. EquityReserve for development costs The reserve for development costs comprises capitalised development costs. The reserve cannot be used for dividends, distribution or to cover losses. If the recognised development costs are sold or in other ways excluded from the Company's operations, the reserve will be dissolved and transferred directly to the distributable reserves under equity. If the recognised development costs are written down, the part of the reserve corresponding to the write-down of the development costs will be reversed. If a write-down of development costs is subsequently reversed, the reserve will be re-established. The reserve is reduced by amortisation of capitalised development costs on an ongoing basis. Corporation tax and deferred tax Current tax payable and receivable is recognised in the balance sheet as tax computed on the taxable income for the year, adjusted for tax on the taxable income of prior years and for 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 value of assets and liabilities measured on the planned use of the asset or settlement of the liability, respectively. However, deferred tax is not recognised on temporary differences relating to office buildings non-deductible for tax purposes and other items where temporary differences arise at the date of acquisition without affecting either profit/loss or taxable income. Deferred tax assets, including the tax value of tax loss carryforwards, are recognised at the expected value of their utilisation within the foreseeable future; either as a set-off against tax on future income or as a set-off against deferred tax liabilities in the same legal tax entity. Any deferred net assets are measured at net realisable value. Deferred tax is measured in accordance with 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 as a result of changes in tax rates are recognised in the income statement or equity, respectively. Liabilities Financial liabilities are recognised at the date of borrowing at cost, corresponding to the proceeds received less transaction costs paid. In subsequent periods, the financial liabilities are measured at amortised cost, corresponding to the capitalised value using the effective interest rate. Accordingly, the difference between cost and the nominal value is recognised in the income statement over the term of the loan together with interest expenses. Other liabilities are measured at amortised cost. 0 Operating lease obligations The Company has entered into operating leases with a remaining term of 3 months and an average monthly lease payments of DKK 12,550, totalling DKK 37,650.