BDO Statsautoriseret revisionsaktieselskabHavneholmen 29DK-1561 København V20222670Årsrapport2022-11-17Rolf CarlsenBimgenetic ApSLottenborgvej 262800 Kongens LyngbyAndre erklæringer uden sikkerhed369138352015-06-01Lyngby-Taarbæk2021-07-012022-06-302020-07-012021-06-30BDO Statsautoriseret revisionsaktieselskabHavneholmen291561Copenhagen VKongens Lyngby2022-11-14Rolf CarlsenMichael Gauguin Houghton-LarsenJørgen Vilhelm Løvenørn BardenflethRolf CarlsenCopenhagen2022-11-14BDO Statsautoriseret revisionsaktieselskab20222670Søren Engelund BærentsenAndre erklæringer uden sikkerhedState Authorised Public Accountantmne33757138538673600670614665165360156025000077680-16564714402762563278-173272-117584-102374180862-70898180862-7089810063650925000097500001858125973548121144901072354812114490107235489430860200000001023741561554001250002704640227374122888623781001604801613329022563375575090247391113425001250002234301759367109588-83026511424965112441022241596022415960174000017400001740000174000022536319851213920294490120573120210258356414553449202381455208492016048016133290225575011134250125000759367-8302640180862587124413001474934-1474934-2233924-125000022339245633790247390223430110958811617821593794798005220079315359594300706146651653144027625144027625-117584-102374-117584-10237401000000097354811079250-1107925001992502110792510000000185812502500000101560500000010156075000001006365925000018581250Regnskabsklasse BtruetrueToday the Board of Directors and Executive Board have discussed and approved the Annual Report of Bimgenetic ApS for the financial year 1 July 2021 - 30 June 2022. The Annual Report 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 30 June 2022 and of the results of the Company's operations for the financial year 1 July 2021 - 30 June 2022. The Management Commentary includes in our opinion a fair presentation of the matters dealt with in the Commentary. The Board of Directors and Executive Board remain of the opinion that the conditions for opting out of audit have been fulfilled. We recommend the Annual Report be approved at the Annual General Meeting. To the Shareholder of Bimgenetic ApS We have compiled these Financial Statements of Bimgenetic ApS for the financial year 1 July 2021 - 30 June 2022 based on the Company's accounting records and other information provided by Management. These Financial Statements comprise income statement, balance sheet, statement of changes in equity, notes and accounting policies. We performed this compilation engagement in accordance with the International Standard, Compilation Engagements. We have applied our professional expertise to assist Management in the preparation and presentation of these Financial Statements in accordance with the Danish Financial Statements Act. We have complied with relevant statutory provisions of the Danish Audit Act and International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (including International Independence Standards) (IESBA Code), including principles of integrity, objectivity, professional behaviour, and due care. These Financial Statements and the accuracy and completeness of the information used to compile these Financial Statements are Management’s responsibility. Since an engagement to compile financial information is not an assurance engagement, we are not required to verify the accuracy or completeness of the information provided by Management to us to compile these Financial Statements. Accordingly, we do not express an audit opinion or a review conclusion on whether these Financial Statements are prepared in accordance with the Danish Financial Statements Act. Principal activities The principal activities comprise software operations with sale and development of own software for construction and industry. Significant events after the end of the financial year No events have occurred after the end of the financial year of material importance for the company's financial position. Share capital Share premium account Reserve for unpaid share capital Reserve for development costs Retained profit Total Equity at 1 July 2021 55.750 11.134.250 125.000 759.367 -830.264 11.244.103 Proposed profit allocation 180.862 180.862 Transactions with owners Capital increase 587 124.413 125.000 Other legal bindings Capitalized development costs 1.474.934 -1.474.934 0 Transfers Allowed equalization -2.233.924 -125.000 2.233.924 -125.000 Equity at 30 June 2022 56.337 9.024.739 0 2.234.301 109.588 11.424.965 Staff costs 1 Average number of employees 1 1 Wages and salaries 617.821 593.794 Pensions 79.800 52.200 Other social security costs 7.931 5.359 Other staff costs 594 300 706.146 651.653 Other financial expenses 2 Other interest expenses 14.402 7.625 14.402 7.625 Tax on profit/loss for the year 3 Adjustment of deferred tax -117.584 -102.374 -117.584 -102.374 Intangible assets 4 Development projects completed Intangible fixed assets acquired Development projects in progress and prepayments Cost at 1 July 2021 0 10.000.000 973.548 Transfers to/from other items 1.107.925 0 -1.107.925 Additions 0 0 1.992.502 Cost at 30 June 2022 1.107.925 10.000.000 1.858.125 Amortisation at 1 July 2021 0 250.000 0 Amortisation for the year 101.560 500.000 0 Amortisation at 30 June 2022 101.560 750.000 0 Carrying amount at 30 June 2022 1.006.365 9.250.000 1.858.125 During the year, the Company has developed software for the daily operation and for the purpose of selling licences, which expectedly should provide economic benefit. The development work is expected to stretch over a longer period concurrently with the technological development. Long-term liabilities 5 30/6 2022 Repayment Debt outstanding 30/6 2021 total liabilities next year after 5 years total liabilities Other bank debt 1.740.000 0 0 1.740.000 531.200 531.200.01 1.740.000 0 0 1.740.000 Joint liabilities The company is jointly and severally liable together with the parent company and the other group companies in the joint taxable group for tax on the group’s joint taxable income and for certain possible withholding taxes, such as dividend tax, etc. Tax payable on the Group’s joint taxable income is stated in the annual report of Carlsencom Holding S.m.b.a., which serves as management company for the joint taxation. The Annual Report of Bimgenetic ApS for 2021/22 has been presented in accordance with the provisions of the Danish Financial Statements Act for enterprises in reporting class B and certain provisions applying to reporting class C. Regnskabsklasse B1 true true The Annual Report has been prepared consistently with the accounting policies applied last year. Change as consequence of changed presentation In the annual report for 2020/21 capitalisation of payroll costs in connection with recording of own assets (development projects) offset in staff costs, which was not in accordance with the gross principle of the the Danish Financial Statements Act. Capitalisation of payroll costs in connection with recording of own assets should be part of the item "Work at own expense, recognised under assets". The changed presentation has been incorporated to the comparative figures of the annual report for 2021/22 and leads to an increase of the item "Staff costs" in the Income Statement of DKK 651,653. The changed presentation has no impacts on the results for 2020/21 and it has no impact on the equity or the balance sheet total for 2020/21. Net revenue Net revenue from sale of services is recognised in the Income Statement if supply and risk transfer to purchaser has taken place before the end of the year and if the income can be measured reliably and is expected to be received. Net revenue is recognised exclusive of VAT, duties and less discounts related to the sale. Sale of software services have been accrued to cover the period up to the end of the financial year. Other external expenses Other external expenses include cost of sales, advertising, administration, buildings, etc. Staff costs Staff costs comprise wages and salaries, including holiday pay and pensions and other costs for social security, etc. for the company’s employees. Repayments from public authorities are deducted from staff costs. Financial income and expenses Financial income and expenses include interest income and expenses, realised and unrealised gains and losses arising from debt and transactions in foreign currencies, amortisation of financial assets and liabilities as well as charges and allowances under the tax-on-account scheme etc. Financial income and expenses are recognised in the income statement by the amounts that relate to the financial year. Tax The tax for the year, which consists of the current tax for the year and changes in deferred tax, is recognised in the income statement by the portion that may be attributed to the profit for the year, and is recognised directly in the equity by the portion that may be attributed to entries directly to the equity. Intangible fixed assets Acquired intellectual property rights are measured at cost less accumulated amortisation and the recoverable amount, if this is lower. Acquired intellectual property rights are amortised by the straight-line method over the useful life, which is assessed to be 20 years. The amortisation period has been performed based on an assessment of the acquired company's market position and earnings profile as well as sector-related matters. Development costs comprise costs, including wages and salaries, and amortisation, which directly or indirectly can be related to the company’s development activities and which fulfil the criteria for recognition. Capitalised development costs are measured at the lower of cost less accumulated amortisation or recoverable amount. Capitalised development costs are amortised on a straight-line basis over the estimated useful life after completion of the development work. The amortisation period is normally 5-10 years. Profit or loss from sale of intangible fixed assets is calculated at the difference between the selling price less selling costs and the carrying amount at the time of the sale. Profit and loss are recognised in the Income Statement under other operating income or other operating expenses. Impairment of fixed assets The carrying amount of intangible fixed assets are valued on an annual basis for indications of impairment other than that reflected by amortisation and depreciation. In the event of impairment indications, an impairment test is made for each asset or group of assets, respectively. If the net realisable value is lower than the carrying amount, the assets are written down to the lower value. The recoverable amount is the highest value of the net selling price and capital value. The capital value is determined as the fair value of the expected net cash flows from the use of the asset or group of assets and the expected net cash flows from sale of the asset or group of assets after the end of its useful life. Receivables Receivables are measured at amortised cost which usually corresponds to nominal value. The value is reduced by impairment losses to meet expected losses. Tax payable and deferred tax Current tax liabilities and receivable current tax are recognised in the balance sheet as the calculated tax on the taxable income for the year, adjusted for tax on the taxable income for previous years and taxes paid on account. The Company is subject to joint taxation with Danish group companies. The current corporation tax is distributed among the joint taxable companies in proportion to their taxable income and with full allocation and refund related to tax losses. The joint taxable companies are included in the on account tax scheme. Joint taxation contributions receivable and payable are recognised in the Balance Sheet under current assets and liabilities, respectively. Deferred tax is measured on the temporary differences between the carrying amount and the tax value of assets and liabilities. Deferred tax assets, including the tax value of tax loss carry-forwards, are measured at the expected realisable value of the asset, either by set-off against tax on future earnings or by set-off against deferred tax liabilities within the same legal tax entity. Deferred tax is measured on the basis of the tax rules and tax rates that under the legislation in force on the balance sheet date would be applicable when the deferred tax is expected to crystallise as current tax. Any changes in the deferred tax resulting from changes in tax rates, are recognised in the income statement, except from items recognised directly in equity. Liabilities Amortised cost of current liabilities usually corresponds to nominal value. 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