xbrli:pureiso4217:DKK308274572022-01-012022-12-31308274572022-01-012022-12-311308274572022-01-012022-12-311308274572022-01-012022-12-31308274572021-01-012021-12-31308274572022-01-012022-12-31fsa:ProposedDividendRecognisedInEquityMember308274572021-01-012021-12-31fsa:ProposedDividendRecognisedInEquityMember308274572022-01-012022-12-31fsa:RetainedEarningsMember308274572021-01-012021-12-31fsa:RetainedEarningsMember308274572022-01-012022-12-31fsa:RetainedEarningsMember308274572022-01-012022-12-31fsa:ProposedDividendRecognisedInEquityMember308274572022-12-31308274572021-12-31308274572022-01-01fsa:ContributedCapitalMember308274572022-01-01fsa:RetainedEarningsMember308274572022-01-01fsa:ProposedDividendRecognisedInEquityMember308274572022-01-01308274572022-12-31fsa:ContributedCapitalMember308274572022-12-31fsa:RetainedEarningsMember308274572022-12-31fsa:ProposedDividendRecognisedInEquityMemberGrundlag for konklusionKonklusion2023-04-212023-04-21true2021-01-012021-12-3133963556København S23006WeidekampsgadeDeloitte Statsautoriseret RevisionspartnerselskabFuresøVærløse3500Regnskabsklasse BErklæring om udvidet gennemgang2022-12-312022-01-01<br /><br />1SkovbakkenMcGregor ApS30827457339635562300 København SWeidekampsgade 6Deloitte Statsautoriseret RevisionspartnerselskabÅrsrapportThe Executive Board has today considered and approved the annual report of McGregor ApS for the financial year 01.01.2022 - 31.12.2022. 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 31.12.2022 and of the results of its operations for the financial year 01.01.2022 - 31.12.2022.I believe that the management commentary contains a fair review of the affairs and conditions referred to therein.I recommend the annual report for adoption at the Annual General Meeting.VærløseScott McGregorTo the shareholders of McGregor ApSWe have performed an extended review of the financial statements of McGregor ApS for the ​financial year 01.01.2022 - 31.12.2022, 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 31.12.2022 and of the results of its operations for the financial year 01.01.2022 - 31.12.2022 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.CopenhagenJan Larsenmne16541State Authorised Public AccountantPrimary activitiesThe Entity’s activities comprise consultancy and financing services as well as shareholding in other enterprises.Development in activities and financesThe performance for the year is considered satisfactory.Events after the balance sheet dateThe Entity has after year-end sold the interest in S-Cubed ApS with a profit. No other events have occurred after the balance sheet date to this date, which would influence the evaluation of this annual report.1976852434324647354120966491014485456387864134528134528-79965-466642614710-255680645327659654945912248741991739-1250622-7966851991818-125730720000001500000-8182-2757307-8182200000062679766402504626797664025043035171360765130337331525522463437471827653234156050001280031712007504106259910015004000040000110259910415001782661921763178266192176336263512386202490721653494651770753317356969125000125000136943091370249120000001500000158193091532749112500013702491150000015327491125000136943092000000161907717990321619077179903218000018000089147504462691472304461888224202947817707533173569690-1500000-15000001 Other financial income 2022 DKK2021 DKKFinancial income from associates6,45330,893Other interest income090Exchange rate adjustments0123,080Fair value adjustments0122,5336,453276,5962 Other financial expenses2022 DKK2021 DKKOther interest expenses59,20658,242Exchange rate adjustments141,8950Fair value adjustments343,0130Remission of debt etc.01,156,773Other financial expenses5,3459,859549,4591,224,874<br />2022 DKK2021 DKKOther interest expenses59,20658,242Exchange rate adjustments141,8950Fair value adjustments343,0130Remission of debt etc.01,156,773Other financial expenses5,3459,859549,4591,224,8743 Tax on profit/loss for the year2022 DKK2021 DKKChange in deferred tax06,685Adjustment concerning previous years(79)0(79)6,6854 Property, plant and equipmentLand and buildings DKKCost beginning of year7,110,859Cost end of year7,110,859Depreciation and impairment losses beginning of year(708,355)Depreciation for the year(134,528)Depreciation and impairment losses end of year(842,883)Carrying amount end of year6,267,9765 Financial assetsInvestments in associates DKKOther investments DKKOther receivables DKKCost beginning of year4,230,7431,526,423471,827Exchange rate adjustments00(25,838)Additions01,507,31017,448Cost end of year4,230,7433,033,733463,437Revaluations beginning of year(623,092)00Exchange rate adjustments(130,118)00Share of profit/loss for the year2,744,82800Dividend(3,187,190)00Revaluations end of year(1,195,572)00Impairment losses beginning of year0(901)0Transfers09010Impairment losses end of year000Carrying amount end of year3,035,1713,033,733463,437The result for S-Cubed ApS for 2022 is not yet available, which is why a result for this investment has not been recognized.Investments in associatesRegistered inCorporate formEquity ​interest ​%S-Cubed ApS DKApS 40.00S-CUBED LtdUKLtd35.00S-CUBED Biometrics LtdUKLtd20.00Fuzzbox Productions LtdUKLtd50.006 Non-current liabilities other than provisionsDue within 12 months 2022 DKKDue within 12 months 2021 DKKDue after more than 12 months 2022 DKKOutstanding after 5 years 2022 DKKMortgage debt180,000180,0001,619,0771,077,000180,000180,0001,619,0771,077,00008 Fair value informationShares DKKFair value end of year178,265Unrealised fair value adjustments recognised in the income statement(338,877)9 Assets charged and collateralMortgage debt is secured by way of mortgage on properties. The Company has provided a mortgage registered to the mortgagor of DKK 39 thousand as security for Ejerforeningen Borgergade The carrying amount of mortgaged properties is DKK 5.211 thousand.This 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.falseRecognition 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.RevenueRevenue comprises rental income from lease out of properties. Other external expensesOther external expenses include expenses relating to the Entity’s ordinary activities, including expenses for premises, stationery and office supplies, marketing costs, etc. This item also includes writedowns of receivables recognised in current assets.Property costsProperty costs include costs incurred to operate the Entity’s properties in the financial year, including repair and maintenance costs, property tax and electricity, water and heating, which are not charged directly from the lessee.Depreciation, amortisation and impairment lossesDepreciation, amortisation and impairment losses relating to property, plant and equipment and intangible assets comprise depreciation, amortisation and impairment losses for the financial year, and gains and losses from the sale of intangible assets and property, plant and equipment.Income from investments in associatesIncome from investments in associates comprises the pro rata share of the individual associates’ profit/loss after pro rata elimination of intra-group profits or losses.Other financial incomeOther financial income comprises dividends etc received on other investments, interest income, including interest income on receivables from group enterprises, net capital or exchange gains on securities, payables and transactions in foreign currencies, amortisation of financial assets, and tax relief under the Danish Tax Prepayment Scheme etc.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 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. The basis of depreciation is cost less estimated residual value after the end of useful life. Straight-line depreciation is made on the basis of the following estimated useful lives of the assets:Useful life Buildings50 yearsEstimated useful lives and residual values are reassessed annually. Items of property, plant and equipment are written down to the lower of recoverable amount and carrying amount.Investments in associatesInvestments in associates are recognised and measured according to the equity method. This means that investments are measured at the pro rata share of the associates’ equity value plus unamortised goodwill and plus or minus unrealised pro rata intra-group profits and losses. Associates with negative equity value are measured at DKK 0. Any receivables from these enterprises are written down to net realisable value based on a specific assessment. If the Parent has a legal or constructive obligation to cover the liabilities of the relevant enterprise, and it is probable that such obligation will involve a loss, a provision is recognised that is measured at present value of the costs necessary to settle the obligations at the balance sheet date. Upon distribution of profit or loss, net revaluation of investments in associates is transferred to reserve for net revaluation according to the equity method in equity. Goodwill is the positive difference between cost of investments and fair value of assets and liabilities arising from acquisitions. Goodwill is amortised straight-line over its estimated useful life, which is fixed based on the experience gained by Management for each business area. Investments in associates fall within the definitions of both participating interests and associates, yet in the financial statements they have been presented as investments in associates because this designation reflects more accurately the Company’s involvement in the relevant entities. The accounting policies applied to material financial statement items of associates are: Other investments: Other investments comprising listed securities and unlisted investments are measured at fair value. ReceivablesReceivables are measured at amortised cost, usually equalling nominal value, less writedowns for bad and doubtful debts.Other investmentsOther investments comprise listed securities which are measured at fair value (market price) at the balance sheet date, and unlisted equity investments measured at the lower of cost and net realisable value.Tax payable or receivableCurrent tax payable or receivable is recognised in the balance sheet, stated as tax computed on this year's taxable income, adjusted for prepaid tax.Other investmentsOther current asset investments comprise listed securities measured at fair value (market price) at the balance sheet date, and unlisted investments measured at the lower of cost and net realisable value.CashCash comprises cash in hand and bank deposits.DividendDividend is recognised as a liability at the time of adoption at the general meeting. Proposed dividend for the financial year is disclosed as a separate item in equity. Extraordinary dividend adopted in the financial year is recognised directly in equity when distributed and disclosed as a separate item in Management's proposal for distribution of profit/loss.Mortgage debtAt the time of borrowing, mortgage debt to mortgage credit institutions is measured at cost which corresponds to the proceeds received less transaction costs incurred. Mortgage debt is subsequently measured at amortised cost. This means that the difference between the proceeds at the time of borrowing and the nominal repayable amount of the loan is recognised in the income statement as a financial expense over the term of the loan applying the effective interest method.<br />Other financial liabilitiesOther financial liabilities are measured at amortised cost, which usually corresponds to nominal value.2023-04-21Scott McGregor