30810384 2024-01-01 2024-12-31 30810384 2024-12-31 30810384 2023-01-01 2023-12-31 30810384 2023-12-31 30810384 2024-01-01 2024-12-31 1 30810384 2024-01-01 2024-12-31 1 30810384 2024-01-01 2024-12-31 2 iso4217:DKK xbrli:pure 2024-01-01 2024-12-31 2025-03-28 2025-03-28 2025-03-28 København NV inforevision statsautoriseret revisionsaktieselskab 2860 Søborg Molo Republic ApS Buddingevej 312 Rentemestervej 49 2400 Søborg 30810384 2023-01-01 2023-12-31 The company's primary activities is to own shares in other companies. The results of the company's activities in the financial year amounted to a profit of DKK 939.275 against DKK 2.505.769 in last financial year. The equity at the balance sheet date amounted to DKK 31.055.767. Management consider the results as satisfactory.For further outlook on Molo's management commentary we refer to the annual report 2024 for the subsidiary Molo A/S. The Executive Board have today considered and adopted the annual report for 1 January 2024 - 31 December 2024 for Molo Republic ApS. 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 the company's financial position at 31 December 2024 and of the results of its operations for the financial year 1 January 2024 - 31 December 2024. I believe that the Management's review contains a fair review of the affairs and conditions referred to therein. I recommend that the annual report be adopted at the Annual General Meeting. To the shareholder's in Molo Republic ApS We have audited the financial statements of Molo Republic ApS for the financial year 1 January 2024 - 31 December 2024, which comprise a summary of significant accounting policies, income statement, balance sheet, statement of changes in equity and notes. The financial statements are prepared under the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the company's financial position as at 31 December 2024 and of the results of the company's operations for the financial year 1 January 2024 - 31 December 2024 in accordance with the Danish Financial Statements Act. We conducted our audit in accordance with International Standards on Auditing (ISAs) and additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the "Auditor’s responsibilities for the audit of the financial statements" section of this auditor’s report. We are independent of the company in accordance with the International Ethics Standards Board of Accountants' Code of Ethics for Professional Accountants (IESBA Code) and the additional requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 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 company's ability to continue as a going concern, for disclosing, as applicable, matters related to going concern, and for using the going concern basis of accounting in preparing the financial statements unless Management either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgement and maintain professional scepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management.Conclude on the appropriateness of Management’s use of the going concern basis of accounting in preparing the financial statements, and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern.Evaluate the overall presentation, structure and content of the financial statements, including the disclosures in the notes, and whether the financial statements represent the underlying transactions and events in a manner that gives a true and fair view.Plan and perform the audit of the financial statements to obtain sufficient appropriate audit evidence regarding the consolidated financial information of the entities or business units as a basis for forming an opinion on the financial statements. We are responsible for the direction, supervision and review of the audit work performed for purposes of the audit. We remain solely responsible for our audit opinion. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Management is responsible for Management’s Review.Our opinion on the financial statements does not cover Management’s Review, and we do not express any form of assurance conclusion thereon.In connection with our audit of the financial statements, our responsibility is to read Management’s Review and, in doing so, consider whether Management’s Review is materially inconsistent with the financial statements or our knowledge obtained during the audit, or otherwise appears to be materially misstated.Moreover, it is our responsibility to consider whether Management’s Review provides the information required under the Danish Financials Statements Act.Based on the work we have performed, in our view, Management’s Review is in accordance with the financial statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act.We did not identify any material misstatement in Management’s Review. The annual report has been prepared in accordance with Danish financial statement legislation as well as generally accepted accounting principles. The annual report has been prepared in accordance with the provisions of the Danish Financial Statements Act governing Reporting class B.Some provisions from reporting class C has been adopted.The accounting policies have not been changed from last year. The financial statements have been prepared based on historical cost.The income is recognised in the income statement as earned. Furthermore, value adjustments of financial assets and liabilities measured at fair value or amortised cost are recognised. Moreover, all expenses incurred to achieve the earnings for the year are recognised in the income statement, including depreciation, amortisation, impairment losses and provisions as well as reversals due to changed accounting estimates of amounts that have previously been recognised in the income statement.Assets are recognised in the balance sheet when it is probable that future economic benefits attributable to the asset 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 out of the company, and the value of the liability can be measured reliably.Assets and liabilities are initially measured at cost. Subsequently, assets and liabilities are measured as described for each item below.Certain financial assets and liabilities are measured at amortised cost, which involves the recognition of a constant effective interest rate over the maturity period. Amortised cost is calculated as original cost less any repayments and with addition/deduction of the cumulative amortisation of any difference between cost and the nominal amount. In this way, capital losses and gains are allocated over the maturity period.Recognition and measurement take into account predictable losses and risks occurring before the presentation of the annual report which confirm or invalidate affairs and conditions existing at the balance sheet date.The functional currency is Danish Kroner. All other currencies are considered foreign currencies. During the year, transactions in foreign currencies have been translated applying the exchange rate at the transaction date. If currency positions are considered hedge of future cash flows, the value adjustments are recognised directly in equity.Receivables and debt denominated in foreign currencies have been recognised at the exchange rate of the balance sheet date.Realised and unrealised exchange gains and losses have been recognised in the income statement under other financial income and expenses. Gross profit/loss includes "External expenses". External expenses comprises Administrative expenses. Income from investments in participating interests comprises the pro rata share of the participating interests’ profit/loss adjusted for internal profits and losses less amortisation of goodwill on consolidation for the year. Financial income is recognised with amounts concerning the financial year. Financial income comprise interest. Tax on profit or loss for the year represents 22% of the book profit or loss adjusted for non-taxable and non-deductible items. Tax on profit or loss for the year consists of the anticipated tax portion of the taxable income for the year adjusted for the changes for the year in deferred tax. Changes in deferred taxes due to adjustments of tax rates is recognised in the income statement. Tax on profit or loss for the year is recognised in the income statement by the portion attributable to the profit or loss for the year and recognised directly in equity by the portion attributable to entries directly in equity. The company is subject to the Danish Tax Prepayment Scheme. Interest reimbursement and interest surcharge have been recognised in financial income and expenses. The balance sheet has been presented in account form. Participating interests have been recognised according to the equity method. This means that investments are measured at the pro rata share of the participating interests' net asset value adjusted for internal dividends and profit or losses.Foreign participating interests' profit or loss and equity have been translated into Danish Kroner. Exchange differences arising out of the translation of foreign participating interests' equity at the beginning of the financial year at the balance sheet date exchange rates and out of the translation of income statements from average rates to the exchange rates at the balance sheet date are taken into equity.Distributable reserves in participating interests which are distributed as dividends to the parent at the balance sheet date are included in the value of participating interests.Participating interests with negative net asset values are measured at zero, and any receivable from such enterprises is written down by the Parent's share of the negative net asset value to the extend deemed irrecoverable. If the negative net asset value exceeds the amount receivable, the remaining amount is recognised in provisions to the extent the Parent has a legal or constructive obligation to cover the relevant participating interests' liabilities.Acquisition of participating interests are recognised at cost. The difference between the cost price and the net asset value of the acquired company, which appears at the time of establishing the consolidation, is as far as possible allocated to the assets and liabilities whose value is higher or lower than the carrying amount. A remaining positive difference is treated as goodwill and included in the value of participating interests.A negative difference, reflecting an expected cost or an unfavourable development, are recognised as income in the income statement in the year of acquisition. Goodwill is amortised in the income statement over 5 years. The amortisation period is based on an assessment of the market position, earnings profile, and expectations of customers loyality, which within reasonable limits is based on historical data/registrations. Amortisations are recognised in the income statement with other value adjustments in the item income from investments in participating interests. The total net revaluation of participating interests is allocated through the profit or loss distribution to "Reserve for net revaluation according to the equity method" under equity. The reserve is reduced by dividend distributions to the Parent and is adjusted by changes in equity in the participating interests. Receivables are measured in the balance sheet at the lower of amortised cost and net realisable value, which corresponds to nominal value less provisions for bad debts. Provisions for bad debts are determined on the basis of an individual assessment of each receivable. Reserve for net revaluation according to equity method comprise net revaluation in group enterprises, associates and participating interests. The reserve is reduced by dividend distributed to the Parent and adjusted for other equity movements in the group enterprises, associates and participating interests. The reverse may be eliminated with negative retained earnings. The reserve is reduced or dissolved when divesting the group enterprises, associates and participating interests. Deferred tax is measured using the balance sheet liability method. Provision has been made for deferred tax by 22% on all temporary differences between carrying amount and tax-based value of assets and liabilities. Deferred tax is also measures with respect of the planned use of the asset and the settlement of the liability. The tax value of the tax losses to be carried forward are included in the calculation of deferred taxes if it is probable that the losses can be used. Deferred tax assets are measured at net realisable value.The company is jointly taxed with other Danish group enterprises with Morilo Holding ApS as Management company. The tax effect of the joint taxation is allocated among the group enterprises in ratio to their taxable income according to the rules on full allocation with a refund for tax losses of the Danish Corporation Tax Act. Joint tax contributions between the jointly taxed companies which have not been settled at the balance sheet date are classified as joint tax contributions in receivables or liabilities other than provisions. Short-term debts are measured at amortised cost, substantially corresponding to nominal value. -10235 -9375 944012 2509309 4162 4836 937939 2504770 -1336 -999 939275 2505769 -4737 -3540 30955148 29526491 30955148 29526491 30955148 29526491 109283 114058 1336 999 110619 115057 110619 115057 31065767 29641548 3650000 3650000 27473695 26045039 -67928 -63191 31055767 29631848 10000 9700 10000 9700 10000 9700 31065767 29641548 2509309 944012 STATEMENT OF CHANGES IN EQUITY Contributed capital Reserve for net revaluation according to equity method Retained earnings Total DKK DKK DKK DKK Equity at 1 January 2023 3.650.000 24.038.468 -59.651 27.628.817 Distributed profit/loss for the year 2.509.309 -3.540 2.505.769 Change in equity in equity investments -502.738 0 -502.738 Equity at 1 January 2024 3.650.000 26.045.039 -63.191 29.631.848 Distributed profit/loss for the year 944.012 -4.737 939.275 Change in equity in equity investments 484.644 0 484.644 Equity at 31 December 2024 3.650.000 27.473.695 -67.928 31.055.767 0 STAFF COSTS 2024 DKK Average number of full-time employees 0 4162 4836 FINANCE INCOME 2024 2023 DKK DKK Financial income from group enterprises 4.162 4.836 Total 4.162 4.836 TAX EXPENSE Joint tax contribution Deferred tax Tax on profit/loss for the year 2023 DKK DKK DKK DKK Payables at 1 January 2024 1.000 0 Paid in respect of previous years -1.000 Tax on profit/loss for the year -1.336 0 -1.336 -999 Payables at 31 December 2024 -1.336 0 Tax on profit/loss for the year recognised in the income statement -1.336 -999 Recognition in balance sheet: Short-term receivables (current asset) -1.336 0 Total -1.336 0 INVESTMENTS Participating interests Total 2023 DKK DKK DKK Cost at 1 January 2024 3.481.452 3.481.452 3.481.452 Cost at 31 December 2024 3.481.452 3.481.452 3.481.452 Revaluations at 1 January 2024 29.078.594 29.078.594 27.072.023 Revaluations for the year 944.012 944.012 2.509.309 Equity adjustments 484.645 484.645 -502.738 Revaluations at 31 December 2024 30.507.251 30.507.251 29.078.594 Amortisation and impairment losses at 1 January 2024 -3.033.555 -3.033.555 -3.033.555 Amortisation and impairment losses at 31 December 2024 -3.033.555 -3.033.555 -3.033.555 Carrying amount at 31 December 2024 30.955.148 30.955.148 29.526.491 PARTICIPATING INTERESTS According to annual report Molo Republic ApS' share Equity interest Contributed capital Profit/loss for the year Equity Share of profit/loss for the year Share of equity DKK DKK DKK DKK Molo A/S, Købehavn 38% 500.000 2.484.241 81.460.914 944.012 30.955.147 Total 944.012 30.955.147 Other adjustments 484.645 0 Total 1.428.657 30.955.147 Recognition in balance sheet: Participating interests 30.955.148 Total 30.955.148 CONTINGENT LIABILITIES Molo Republic ApS are jointly taxed with other group companies and are severally liable for tax on the jointly taxed incomes etc. of the group. Moreover, the group companies are jointly and severally liable for Danish withholding taxes by way of tax on interest, dividend tax and tax on royalty payments. Any subsequent adjustments of corporation taxes and withholding taxes may increase the the company's liability. Grundlag for konklusion Konklusion Regnskabsklasse B Årsrapport Revisionspåtegning Mogens Jepsen Direktør Mogens Jepsen mne36161 Michael Dam-Johansen inforevision statsautoriseret revisionsaktieselskab 19263096 mne47779 Shpend Rasimi inforevision statsautoriseret revisionsaktieselskab 19263096