30810384 2021-12-31 30810384 2022-12-31 30810384 2021-01-01 2021-12-31 fsa:ReserveForNetRevaluationAccordingToEquityMethodMember 30810384 2022-01-01 2022-12-31 fsa:ReserveForNetRevaluationAccordingToEquityMethodMember 30810384 2021-01-01 2021-12-31 30810384 2022-01-01 2022-12-31 30810384 2022-01-01 2022-12-31 30810384 2021-01-01 2021-12-31 fsa:RetainedEarningsMember 30810384 2022-01-01 2022-12-31 fsa:RetainedEarningsMember 30810384 2022-01-01 2022-12-31 1 30810384 2022-01-01 2022-12-31 1 30810384 2022-01-01 2022-12-31 1 iso4217:DKK xbrli:pure 30810384 2022-01-01 2022-12-31 2 To the shareholders of MOLO REPUBLIC ApS 2860 Søborg Buddingevej 312 0 0 Statsautoriseret revisor Statsautoriseret revisor Direktør Formand EQUITY AND LIABILITIES Equity Managements proposed dividends for the financial year is disclosed as a separate item in equity. Other financial expenses Financial expenses is recognised with amounts concerning the financial year. Financial liabilities Liabilities other than provisions have been measured at amortised cost which corresponds to nominal value. The Board of Executives have today discussed and approved the annual report for the the financial year 1 January - 31 December 2022 of MOLO REPUBLIC ApS. 1406736 1071449 The annual report has been prepared in accordance with Danish financial statements legislation as well as generally accepted accounting principles. The annual report has been prepared in accordance with the Accounting Acts reporting requirements for class B companies, with the option of individual provisions from Accounting Acts reporting requirements class C. The accounting policies have not been changed from last year. 7000 9700 Shpend Rasimi Michael Dam-Johansen Mogens Jepsen inforevision, Statsautoriseret Revisionsaktieselskab 25176893 27519920 Opinion We have audited the financial statements of MOLO REPUBLIC ApS for the financial year 1 January to 31 December 2022, which comprise the accounting policies applied, the income statement, the balance sheet, statement of changes in equity and notes. The financial statements are prepared in accordance with the Danish Financial Statements Act. In our opinion the financial statement give a true and fair view of the Companys financial position at 31 December 2022, and of the result of the Companys operations for the financial year 1 January to 31 December 2022 in accordance with the Danish Financial Statements Act. -49988 -59651 Managements responsibility for the Financial Statements 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, disclosing, as applicable, matters related to going concern and 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. INDEPENDENT AUDITORS AUDIT REPORT, continued 5 125560 118597 Development in the Companys activities and finances The profit for the year is total DKK 1.061.786 against DKK 1.402.337 last year. Management considers the development to be satisfactory. For further outlook on Molos management commentary we refer to the annual report 2022 for the subsidiary Molo A/S. RECOGNITION AND MEASUREMENT The financial statements have been prepared based on historical cost. The income is recognised in the income statement as earned. Further to this, value adjustments of financial assets and liabilities measured at fair value or amortised cost are recognised. Furthermore, all costs incurred to earn the profit or loss for year have been recognised in the income statement, including amortisation, depreciation, write-down and provisions as well as reversals as a consequence of changed accounting estimates of amounts previously recognised in the income statement. Assets are recognised in the balance sheet when it is probable that future economic benefits will flow into 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. On initial recognition, assets and liabilities are measured at cost. Subsequently, assets and liabilities are measured as described below for each financial statement item. Certain financial assets and liabilities are measured at amortised cost, by which a constant redemption yield is recognised over the term. Amortised cost is calculated as original cost less instalments and addition/deduction of the accumulated amortisation of the difference between cost and the nominal amount. Thereby, capital and exchange losses or gains are allocated over the term. On recognition and measurement, anticipated losses and risks that appear before presentation of the annual report and which confirm or invalidate affairs or conditions existing at the balance sheet date are considered. The functional currency is Danish kroner, DKK. All other currencies are considered foreign currencies. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued 8 Provision for deferred tax Deferred tax is measured according to the 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 forwardare included in the calculation of deferred taxes if it is probable that the losses can be used. The tax-based values of tax losses carried forward are included in the statement of deferred tax if it is probable that the losses can be utilised. <table xmlns="http://www.w3.org/1999/xhtml" style="border-collapse: collapse; width: 928px" ><tr><td style="width: 5%"></td><td style="width: 12%"></td><td style="width: 13%"></td><td style="width: 9%"></td><td style="width: 2%"></td><td style="width: 3%"></td><td style="width: 9%"></td><td style="width: 2%"></td><td style="width: 9%"></td><td style="width: 2%"></td><td style="width: 9%"></td><td style="width: 3%"></td><td style="width: 9%"></td><td style="width: 3%"></td><td style="width: 9%"></td></tr><tr><td Colspan = 14 style="font-weight: bold; text-align: left">Statement of changes in equity</td><td Colspan = 1 style="font-weight: bold; text-align: Right">14</td></tr><tr><td Colspan = 15 style="text-align: left">&nbsp</td></tr><tr><td Colspan = 8 style="text-align: left"></td><td Colspan = 1 style="text-align: Right">Net revaluation</td><td Colspan = 1 style="text-align: Right"></td><td Colspan = 1 style="text-align: Right"></td><td Colspan = 1 style="text-align: Right"></td><td Colspan = 1 style="text-align: Right"></td><td Colspan = 1 style="text-align: Right"></td><td Colspan = 1 style="text-align: Right"></td></tr><tr><td Colspan = 6 style="text-align: left"></td><td Colspan = 1 style="text-align: Right">Share </td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="text-align: Right">acc. to the</td><td Colspan = 1 style="text-align: Right"></td><td Colspan = 1 style="text-align: Right">Retained</td><td Colspan = 1 style="text-align: Right"></td><td Colspan = 1 style="text-align: Right">Proposed</td><td Colspan = 1 style="text-align: Right"></td><td Colspan = 1 style="text-align: Right"></td></tr><tr><td Colspan = 6 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">capital</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">equity method</td><td Colspan = 1 style="text-align: Right"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">earnings</td><td Colspan = 1 style="text-align: Right"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">dividends</td><td Colspan = 1 style="text-align: Right"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">TOTAL</td></tr><tr><td Colspan = 15 style="text-align: left">&nbsp</td></tr><tr><td Colspan = 1 style="text-align: left"></td><td Colspan = 5 style="text-align: left">Equity at 1/1 2022</td><td Colspan = 1 style="text-align: Right">3.650.000</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="text-align: Right">19.628.710</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="text-align: Right">-45.589</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="text-align: Right">0</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="text-align: Right">23.233.121</td></tr><tr><td Colspan = 1 style="text-align: left"></td><td Colspan = 5 style="text-align: left">Transferred from distribution of profit/loss</td><td Colspan = 1 style="text-align: Right">0</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="text-align: Right">1.406.736</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="text-align: Right">-4.399</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="text-align: Right">0</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="text-align: Right">1.402.337</td></tr><tr><td Colspan = 1 style="text-align: left"></td><td Colspan = 5 style="text-align: left">Change in equity in equity inmvestments</td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">0</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">659.995</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">0</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">0</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">659.995</td></tr><tr><td Colspan = 15 style="text-align: left">&nbsp</td></tr><tr><td Colspan = 1 style="text-align: left"></td><td Colspan = 5 style="text-align: left">Equity at 1/1 2022</td><td Colspan = 1 style="text-align: Right">3.650.000</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="text-align: Right">21.695.441</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="text-align: Right">-49.988</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="text-align: Right">0</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="text-align: Right">25.295.453</td></tr><tr><td Colspan = 1 style="text-align: left"></td><td Colspan = 5 style="text-align: left">Transferred from distribution of profit/loss</td><td Colspan = 1 style="text-align: Right">0</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="text-align: Right">1.071.449</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="text-align: Right">-9.663</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="text-align: Right">0</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="text-align: Right">1.061.786</td></tr><tr><td Colspan = 1 style="text-align: left"></td><td Colspan = 5 style="text-align: left">Change in equity in equity inmvestments</td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">0</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">1.271.577</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">0</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">0</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">1.271.577</td></tr><tr><td Colspan = 15 style="text-align: left">&nbsp</td></tr><tr><td Colspan = 1 style="text-align: left"></td><td Colspan = 5 style="text-align: left">Equity at 31/12 2022</td><td Colspan = 1 style="border-bottom: 3px solid; text-align: Right">3.650.000</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 3px solid; text-align: Right">24.038.468</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 3px solid; text-align: Right">-59.651</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 3px solid; text-align: Right">0</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 3px solid; text-align: Right">27.628.817</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-collapse: collapse; width: 714px" ><tr><td style="width: 6%"></td><td style="width: 14%"></td><td style="width: 14%"></td><td style="width: 14%"></td><td style="width: 5%"></td><td style="width: 12%"></td><td style="width: 3%"></td><td style="width: 12%"></td><td style="width: 6%"></td><td style="width: 12%"></td></tr><tr><td Colspan = 1 style="border-bottom: 1px solid; text-align: left">1</td><td Colspan = 9 style="border-bottom: 1px solid; text-align: left">Corporation tax and deferred tax</td></tr><tr><td Colspan = 10 style="border-top: 1px solid; text-align: left">&nbsp</td></tr><tr><td Colspan = 7 style="text-align: left"></td><td Colspan = 1 style="text-align: Right">Acc. to the inc.</td><td Colspan = 1 style="text-align: Right"></td><td Colspan = 1 style="text-align: Right"></td></tr><tr><td Colspan = 3 style="text-align: left"></td><td Colspan = 2 style="border-bottom: 1px solid; text-align: Right">Income taxes</td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">Deferred tax</td><td Colspan = 1 style="text-align: Right"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">statement</td><td Colspan = 1 style="text-align: Right"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">2021</td></tr><tr><td Colspan = 10 style="text-align: left">&nbsp</td></tr><tr><td Colspan = 1 style="text-align: left"></td><td Colspan = 2 style="text-align: left">Payable at 1/1 2022</td><td Colspan = 2 style="text-align: Right">-1.976</td><td Colspan = 1 style="text-align: Right">0</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="text-align: Right">0</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="text-align: Right">0</td></tr><tr><td Colspan = 1 style="text-align: left"></td><td Colspan = 2 style="text-align: left">Paid re. previous years</td><td Colspan = 2 style="text-align: Right">1.976</td><td Colspan = 1 style="text-align: Right">0</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="text-align: Right">0</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="text-align: Right">0</td></tr><tr><td Colspan = 1 style="text-align: left"></td><td Colspan = 2 style="text-align: left">Tax on profit/loss for the year</td><td Colspan = 2 style="border-bottom: 1px solid; text-align: Right">-2.725</td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">0</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">-2.725</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">-976</td></tr><tr><td Colspan = 10 style="text-align: left">&nbsp</td></tr><tr><td Colspan = 1 style="text-align: left"></td><td Colspan = 2 style="text-align: left">PAYABLE AT 31/12 2022</td><td Colspan = 2 style="border-bottom: 3px solid; text-align: Right">-2.725</td><td Colspan = 1 style="border-bottom: 3px solid; text-align: Right">0</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="text-align: left"></td></tr><tr><td Colspan = 10 style="text-align: left">&nbsp</td></tr><tr><td Colspan = 1 style="text-align: left"></td><td Colspan = 6 style="text-align: left">TAX ON PROFIT/LOSS FOR THE YEAR</td><td Colspan = 1 style="border-bottom: 3px solid; text-align: Right">-2.725</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 3px solid; text-align: Right">-976</td></tr><tr><td Colspan = 10 style="text-align: left">&nbsp</td></tr><tr><td Colspan = 9 style="font-weight: bold; text-align: left">List of fixed assets, amortisation and depreciation, fixed asset investments >>>></td><td Colspan = 1 style="font-weight: bold; text-align: Right">16</td></tr><tr><td Colspan = 10 style="text-align: left">&nbsp</td></tr><tr><td Colspan = 9 style="font-weight: bold; text-align: left">NOTES, continued</td><td Colspan = 1 style="font-weight: bold; text-align: Right">17</td></tr></table> 25295453 27628817 19263096 30810384 mne47779 mne36161 25176893 27519920 In my opinion the managements review includes a fair review about the matters the review deals with. Mogens Jepsen 2021-12-31 125560 118597 1976 2725 7000 9700 2023-04-21 Søborg Auditors responsibility for the Audit of the Financial Statements 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 Financial Statements. As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgment and maintain professional skepticism 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 circum-stances, 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 contents of the Financial Statements, including the disclosures, and whether the Financial Statements represent the underlying transactions and events in a manner that gives a true and fair view. 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. INDEPENDENT AUDITORS AUDIT REPORT, continued 6 -976 -2725 2860 Søborg Buddingevej 312 25302453 27638517 Regnskabsklasse B In my opinion the financial statements give a true and fair view of the Companys financial position at 31 December 2022 and of the result of the Companys operation and cash flow for the financial year 1 January - 31 December 2022. 2023-04-21 2023-04-21 Investments in participating interest Investments in participating interest have been recognised according to the equity method, so that the invest-ment is measured at the pro rata share of the group enterprises net asset value adjusted for internal dividends and gains. Distributable reserves in investments in participating interest which are distributed as dividends to the parent at the balance sheet date are included in the value of investments. Investments in participating interest with negative net asset values are measured at zero, and any receivable from such enterprises is written down by the Parents 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 enterprises liabilities. Acquisition of investments in participating interest are recognized 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 investments, which is amortized in the income statement over 5 years. The depreciation period is based on an assessment of the market position, earnings prfile, and expectations of customers loyality, which within reasonable limits is based on historical data/registrations. A negative difference, reflecting an expected cost or an unfavourable development, are recognized as income in the income statement in the year of acquistiion. The total net revaluation of investments in group enterprises and associates is allocated via the profit 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 participating interest. External expenses External expenses comprise administrative expenses. Income from equity investments Income from the equity investments comprises the pro rata share of the investments operating profit/loss adjusted for internal profits and losses less annual amortisation of goodwill on consolidation. Receivables Receivables are measured at amortised cost which usually corresponds to nominal value. The value is reduced by write-down for bad debt according to an individual assessment. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued Tax on profit or loss for the year income taxes 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. 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. Corporation tax relating to the financial year which has not been settled at the balance sheet date is to be classified as corporation tax in receivables or liabilities other than provisions. 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. The Company is subject to the Danish Tax Prepayment Scheme. Interest reimbursement and interest surcharge have been recognised in financial income and expenses. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, continued 9 Primary activities The companys main activity is to own shares in other companies. <table xmlns="http://www.w3.org/1999/xhtml" style="border-collapse: collapse; width: 714px" ><tr><td style="width: 6%"></td><td style="width: 14%"></td><td style="width: 14%"></td><td style="width: 14%"></td><td style="width: 5%"></td><td style="width: 12%"></td><td style="width: 3%"></td><td style="width: 12%"></td><td style="width: 6%"></td><td style="width: 12%"></td></tr><tr><td Colspan = 1 style="border-bottom: 1px solid; text-align: left">3</td><td Colspan = 9 style="border-bottom: 1px solid; text-align: left">Equity investments</td></tr><tr><td Colspan = 10 style="font-weight: bold; text-align: left">&nbsp</td></tr><tr><td Colspan = 1 style="font-weight: bold; text-align: left"></td><td Colspan = 9 style="text-align: left">The Company’s group investments comprise the following:</td></tr><tr><td Colspan = 10 style="font-weight: bold; text-align: left">&nbsp</td></tr><tr><td Colspan = 3 style="text-align: left"></td><td Colspan = 2 style="text-align: Right">Ownership</td><td Colspan = 1 style="text-align: Right">Contributed</td><td Colspan = 1 style="text-align: Right"></td><td Colspan = 1 style="text-align: Right">Profit or loss</td><td Colspan = 1 style="text-align: Right"></td><td Colspan = 1 style="text-align: left"></td></tr><tr><td Colspan = 3 style="text-align: left"></td><td Colspan = 2 style="border-bottom: 1px solid; text-align: Right"> share</td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">capital</td><td Colspan = 1 style="text-align: Right"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">for the year</td><td Colspan = 1 style="text-align: Right"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">Equity</td></tr><tr><td Colspan = 10 style="text-align: left">&nbsp</td></tr><tr><td Colspan = 1 style="text-align: left"></td><td Colspan = 9 style="text-align: left">Equity investments</td></tr><tr><td Colspan = 1 style="text-align: left"></td><td Colspan = 2 style="text-align: left">Molo A/S, København</td><td Colspan = 2 style="text-align: Right">38,00%</td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">500.000</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">2.819.603</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">72.420.841</td></tr><tr><td Colspan = 10 style="text-align: left">&nbsp</td></tr><tr><td Colspan = 5 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">500.000</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">2.819.603</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">72.420.841</td></tr><tr><td Colspan = 10 style="text-align: left">&nbsp</td></tr><tr><td Colspan = 1 style="font-weight: bold; text-align: left"></td><td Colspan = 4 style="text-align: left">TOTAL</td><td Colspan = 1 style="border-bottom: 3px solid; text-align: Right">500.000</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 3px solid; text-align: Right">2.819.603</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 3px solid; text-align: Right">72.420.841</td></tr></table> 25302453 27638517 MOLO REPUBLIC ApS København NV 2021-01-01 1401361 1059061 123584 115872 Statement on the Management’s review 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 Financial Statements Act. Based on the work we have performed, we conclude that Management’s Review is in accordance with the Financial Statements and has been prepared in accordance with the requirements of the Danish Financial Statement Acts. We did not identify any material misstatement of Management’s Review. 2400 København NV Rentemestervej 49 3650000 3650000 Basis for opinion We conducted our audit in accordance with international Standards on Auditing (ISAs) and the 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 our report. We are independent of the Company 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 audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. <table xmlns="http://www.w3.org/1999/xhtml" style="border-collapse: collapse; width: 714px" ><tr><td style="width: 6%"></td><td style="width: 14%"></td><td style="width: 14%"></td><td style="width: 14%"></td><td style="width: 5%"></td><td style="width: 12%"></td><td style="width: 3%"></td><td style="width: 12%"></td><td style="width: 6%"></td><td style="width: 12%"></td></tr><tr><td Colspan = 1 style="border-bottom: 1px solid; text-align: left">4</td><td Colspan = 9 style="border-bottom: 1px solid; text-align: left">Contingent liabilities</td></tr><tr><td Colspan = 10 style="border-top: 1px solid; text-align: left">&nbsp</td></tr><tr><td Colspan = 1 style="text-align: left"></td><td Colspan = 9 style=">The company is jointly taxed with other group companies and is jointly liable with the other group companies for payable and unsettled corporation and withholding taxes. The total amount for payable corporate tax is shown in the annual report for Morilo Holding ApS. Any subsequent corrections to the corporate tax and withtholding taxes can lead to a higher liability for the Company.</td></tr></table> -5375 -12388 <table xmlns="http://www.w3.org/1999/xhtml" style="border-collapse: collapse; width: 928px" ><tr><td style="width: 5%"></td><td style="width: 12%"></td><td style="width: 13%"></td><td style="width: 9%"></td><td style="width: 2%"></td><td style="width: 3%"></td><td style="width: 9%"></td><td style="width: 2%"></td><td style="width: 9%"></td><td style="width: 2%"></td><td style="width: 9%"></td><td style="width: 3%"></td><td style="width: 9%"></td><td style="width: 3%"></td><td style="width: 9%"></td></tr><tr><td Colspan = 1 style="text-align: left">2</td><td Colspan = 14 style="text-align: left">List of fixed assets, amortisation and depreciation,</td></tr><tr><td Colspan = 1 style="border-bottom: 1px solid; text-align: left"></td><td Colspan = 14 style="border-bottom: 1px solid; text-align: left">fixed asset investments</td></tr><tr><td Colspan = 15 style="border-top: 1px solid; text-align: left">&nbsp</td></tr><tr><td Colspan = 10 style="text-align: left"></td><td Colspan = 1 style="text-align: Center">Equity</td><td Colspan = 1 style="text-align: Center"></td><td Colspan = 1 style="text-align: Center"></td><td Colspan = 1 style="text-align: Center"></td><td Colspan = 1 style="text-align: Center"></td></tr><tr><td Colspan = 10 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Center">investments</td><td Colspan = 1 style="text-align: Center"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Center">Total</td><td Colspan = 1 style="text-align: Center"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Center">31/12 2021</td></tr><tr><td Colspan = 15 style="text-align: left">&nbsp</td></tr><tr><td Colspan = 1 style="text-align: left"></td><td Colspan = 9 style="text-align: left">Cost 1/1 2022</td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">3.481.452</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">3.481.452</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">3.481.452</td></tr><tr><td Colspan = 15 style="text-align: left">&nbsp</td></tr><tr><td Colspan = 1 style="text-align: left"></td><td Colspan = 9 style="text-align: left">COST AT 31/12 2022</td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">3.481.452</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">3.481.452</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">3.481.452</td></tr><tr><td Colspan = 15 style="text-align: left">&nbsp</td></tr><tr><td Colspan = 1 style="text-align: left"></td><td Colspan = 9 style="text-align: left">Revaluation at 1/1 2022</td><td Colspan = 1 style="text-align: Right">24.728.996</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="text-align: Right">24.728.996</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="text-align: Right">22.662.265</td></tr><tr><td Colspan = 1 style="text-align: left"></td><td Colspan = 9 style="text-align: left">Revaluation for the year</td><td Colspan = 1 style="text-align: Right">1.071.449</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="text-align: Right">1.071.449</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="text-align: Right">1.406.736</td></tr><tr><td Colspan = 1 style="text-align: left"></td><td Colspan = 9 style="text-align: left">Equity adjustments</td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">1.271.577</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">1.271.577</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">659.995</td></tr><tr><td Colspan = 15 style="text-align: left">&nbsp</td></tr><tr><td Colspan = 1 style="text-align: left"></td><td Colspan = 9 style="text-align: left">REVALUATION AT 31/12 2022</td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">27.072.023</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">27.072.023</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">24.728.996</td></tr><tr><td Colspan = 15 style="text-align: left">&nbsp</td></tr><tr><td Colspan = 1 style="text-align: left"></td><td Colspan = 9 style="text-align: left">Amortisations and impairment at 1/1 2022</td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">3.033.555</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">3.033.555</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">3.033.555</td></tr><tr><td Colspan = 15 style="text-align: left">&nbsp</td></tr><tr><td Colspan = 1 style="text-align: left"></td><td Colspan = 9 style="text-align: left">AMORTISATIONS AND IMPAIRMENT AT 31/12 2022</td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">3.033.555</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">3.033.555</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 1px solid; text-align: Right">3.033.555</td></tr><tr><td Colspan = 15 style="text-align: left">&nbsp</td></tr><tr><td Colspan = 1 style="text-align: left"></td><td Colspan = 9 style="text-align: left">CARRYING AMOUNT AT 31/12 2022</td><td Colspan = 1 style="border-bottom: 3px solid; text-align: Right">27.519.920</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 3px solid; text-align: Right">27.519.920</td><td Colspan = 1 style="text-align: left"></td><td Colspan = 1 style="border-bottom: 3px solid; text-align: Right">25.176.893</td></tr><tr><td Colspan = 15 style="text-align: left">&nbsp</td></tr></table> Årsrapport 25176893 27519920 inforevision, Statsautoriseret Revisionsaktieselskab -4399 -9663 1402337 1061786 1406736 1071449 We recommend that the Annual Report be approved at the annual general meeting. 2022-12-31 2022-01-01 21695441 24038468 7000 9700 Revisionspåtegning