xbrli:pureiso4217:DKK422282222022-04-012023-03-31422282222022-04-012023-03-311422282222022-04-012023-03-311422282222022-04-012023-03-31422282222021-03-182022-03-31422282222022-04-012023-03-31fsa:RetainedEarningsMember422282222021-03-182022-03-31fsa:RetainedEarningsMember422282222022-04-012023-03-31fsa:RetainedEarningsMember422282222023-03-31422282222022-03-31422282222022-04-01fsa:ContributedCapitalMember422282222022-04-01fsa:RetainedEarningsMember422282222022-04-01422282222023-03-31fsa:ContributedCapitalMember422282222023-03-31fsa:RetainedEarningsMemberGrundlag for konklusionKonklusiontrue339635562021-03-182022-03-31Aalborg900026, 4. salØstre HavnepromenadeDeloitte Statsautoriseret RevisionspartnerselskabAalborgSvenstrup J9230Regnskabsklasse BErklæring om udvidet gennemgang2023-03-312022-04-01<br /><br />13LansenPrecision Facilities ApS42228222339635562300 København SWeidekampsgade 6Deloitte Statsautoriseret RevisionspartnerselskabÅrsrapportThe Executive Board has today considered and approved the annual report of Precision Facilities ApS for the financial year 01.04.2022 - 31.03.2023. The annual report is presented in accordance with the Danish Financial Statements Act.In my opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.03.2023 and of the results of its operations for the financial year 01.04.2022 - 31.03.2023.I believe that the management commentary contains a fair review of the affairs and conditions referred to therein.I recommend to the Annual General Meeting that the financial statements for the next financial year not be audited.I recommend the annual report for adoption at the Annual General Meeting.Svenstrup2023-06-29Jeppe MüllerTo the shareholders of Precision Facilities ApSWe have performed an extended review of the financial statements of Precision Facilities ApS for the ​financial year 01.04.2022 - 31.03.2023, which comprise the income statement, balance sheet, statement of changes in equity and notes, including a summary of significant accounting policies. The financial statements are prepared in accordance with the Danish Financial Statements Act. ​Based on our extended review, in our opinion, the financial statements give a true and fair view of the Entity’s ​financial position at 31.03.2023 and of the results of its operations for the financial year 01.04.2022 - 31.03.2023 in accordance with the Danish Financial Statements Act.We conducted our extended review in accordance with the assurance engagement standard for small enterprises as issued by the Danish Business Authority and the standard on extended review of financial statements prepared in accordance with the Danish Financial Statements Act as issued by FSR - Danish Auditors. Our responsibilities under those standards and requirements are further described in the ”Auditor’s responsibilities for the extended review of the financial statements” section. We are independent of the Entity 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 evidence we have obtained is sufficient and appropriate to provide a basis for our conclusion.Management is responsible for the preparation of financial statements that give a true and fair view in accordance with the Danish Financial Statements Act, and for such internal control as 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 Entity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern, and using the going concern basis of accounting unless Management either intends to liquidate the Entity or to cease operations, or has no realistic alternative but to do so.Our responsibility is to express a conclusion on the financial statements. This requires that we plan and perform procedures to obtain limited assurance about our conclusion on the financial statements and that we also perform specifically required supplementary procedures for the purpose of obtaining additional assurance about our conclusion. An extended review consists of making inquiries, primarily of Management and, if appropriate, of other entity personnel, performing analytical and the specifically required supplementary procedures as well as evaluating the evidence obtained. The procedures performed in an extended review are less in scope than in an audit, and accordingly we do not express an audit opinion on the financial statements.Management is responsible for the management commentary. Our conclusion on the financial statements does not cover the management commentary, and we do not express any form of assurance conclusion thereon. In connection with our extended review of the financial statements our responsibility is to read the management commentary and, in doing so, consider whether the management commentary is materially inconsistent with the financial statements or our knowledge obtained in the extended review or otherwise appears to be materially misstated. Moreover, it is our responsibility to consider whether the management commentary provides the information required under the Danish Financial Statements Act.<br />Based on the work we have performed, we conclude that the management commentary is in accordance with financial statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not identify any material misstatement of the management commentary.Aalborg2023-06-29René Winther Pedersenmne34173State Authorised Public AccountantPrimary activities The company's purpose is the purchase, sale, and rental of real estate, as well as other related activities as determined by the management.Description of material changes in activities and financesThe annual result shows a deficit of 773 t.DKK. The management considers the annual result satisfactory when taking the Company's establishment phase into consideration. The Company has lost its entire share capital. Equity is expected to be re-established through own operations, alternatively through a capital contribution from the Parent.Events after the balance sheet dateNo events have occurred after the balance sheet date to this date, which would influence the evaluation of this annual report.-487771-2022550348936138-991260-56363-218077-9661-773183-46702-773183-46702-773183026948250951650036464750364647570296990702969907717023791221912696614767030106324757312980411927460566248765746056638952404000040000-819885-46702-779885-670240000-46702-670240000-81988510490104904021711161719783723127402238239402390194282394023901942746056638952401 Going concernThe Company has received a letter of support from its Parent, which will contribute additional capital to the Company to the required extent until 31 March 2024.2 Other financial expenses2022/23 DKK2021/22 DKKFinancial expenses from group enterprises499,45634,917Other interest expenses4,0331,221503,48936,138<br />2022/23 DKK2021/22 DKKFinancial expenses from group enterprises499,45634,917Other interest expenses4,0331,221503,48936,1383 Tax on profit/loss for the year2022/23 DKK2021/22 DKKCurrent tax0(9,661)Change in deferred tax1,0490Refund in joint taxation arrangement(219,126)0(218,077)(9,661)4 Property, plant and equipmentLand DKKProperty, plant and equipment in progress DKKCost beginning of year2,694,825951,650Transfers(2,694,825)(4,334,874)Additions03,383,224Cost end of year00Carrying amount end of year00The transfers above have been transferred to assets held for sales.06 Contingent liabilitiesThe Entity participates in a Danish joint taxation arrangement where Precision Global ApS serves as the administration company. According to the joint taxation provisions of the Danish Corporation Tax Act, the Entity is therefore liable for income taxes etc. for the jointly taxed entities, and for obligations, if any, relating to the withholding of tax on interest, royalties and dividend for the jointly taxed entities. The jointly taxed entities' total known net liability under the joint taxation arrangement is disclosed in the administration company's financial statements.7 Assets charged and collateralCollateral provided for group enterprisesThe Entity has guaranteed Precision Technic Defence A/S' debt with Danske Bank. Precision Technic Defence A/S' debt amounts to 88,944 t.DKK at the balance sheet date.8 Group relationsName and registered office of the Parent preparing consolidated financial statements for the smallest group: Precision Global ApS, AalborgThis annual report has been presented in accordance with the provisions of the Danish Financial Statements Act governing reporting class B enterprises with addition of a few provisions for reporting class C.The accounting policies applied to these financial statements are consistent with those applied last year.falseNon-comparability Last year was the company's first fiscal year, which is why the accounting period included in the comparative figures consist of 13 months.Recognition and measurementAssets are recognised in the balance sheet when it is probable as a result of a prior event that future economic benefits will flow to the Entity, and the value of the asset can be measured reliably. Liabilities are recognised in the balance sheet when the Entity has a legal or constructive obligation as a result of a prior event, and it is probable that future economic benefits will flow out of the Entity, and the value of the liability can be measured reliably. On initial recognition, assets and liabilities are measured at cost. Measurement subsequent to initial recognition is effected as described below for each financial statement item. Anticipated risks and losses that arise before the time of presentation of the annual report and that confirm or invalidate affairs and conditions existing at the balance sheet date are considered at recognition and measurement. Income is recognised in the income statement when earned, whereas costs are recognised by the amounts attributable to this financial year.Gross profit or lossGross profit or loss includes external expenses.Other external expensesOther external expenses include expenses relating to the Entity’s ordinary activities.Other financial expensesOther financial expenses comprise interest expenses, including interest expenses on payables to group enterprises, net capital or exchange losses on securities, payables and transactions in foreign currencies, amortisation of financial liabilities, and tax surcharge under the Danish Tax Prepayment Scheme etc.Tax on profit/loss for the yearTax for the year, which consists of current tax for the year and changes in deferred tax, is recognised in the income statement by the portion attributable to the profit for the year and recognised directly in equity by the portion attributable to entries directly in equity.Property, plant and equipmentLand and buildings and Property, plant and equipment in progress are measured at cost less accumulated depreciation and impairment losses. Land is not depreciated. Cost comprises the acquisition price, costs directly attributable to the acquisition and preparation costs of the asset until the time when it is ready to be put into operation.Items of property, plant and equipment are written down to the lower of recoverable amount and carrying amount.Assets held for saleAssets held for sale are assets that are no longer in use and have been put up for sale. The assets are measured at the lower of carrying amount at the date of reclassification and net realisable value, and no amortisation or depreciation is made.ReceivablesReceivables are measured at amortised cost, usually equalling nominal value less writedowns for bad and doubtful debts.Joint taxation contributions receivable or payableCurrent joint taxation contributions payable or joint taxation contributions receivable are recognised in the balance sheet, calculated as tax computed on the taxable income for the year, which has been adjusted for prepaid tax. For tax losses, joint taxation contributions receivable are only recognised if such losses are expected to be used under the joint taxation arrangement.PrepaymentsPrepayments comprise incurred costs relating to subsequent financial years. Prepayments are measured at cost.CashCash comprises bank deposits.Deferred taxDeferred tax is recognised on all temporary differences between the carrying amount and the tax-based value of assets and liabilities, for which the tax-based value is calculated based on the planned use of each asset. Deferred tax assets, including the tax base of tax loss carryforwards, are recognised in the balance sheet at their estimated realisable value, either as a set-off against deferred tax liabilities or as net tax assets.Other financial liabilitiesOther financial liabilities are measured at amortised cost, which usually corresponds to nominal value.2023-06-29Jeppe Müller