The Board of Directors and executive board have today discussed and approved the annual report of BusDan 32.1 A/S for the financial year 1 January - 31 December 2023.The annual report is prepared in accordance with the Danish Financial Statements Act.In our opinion, the financial statements give a true and fair view of the company's financial position at 31 December 2023 and of the results of the company's operations for the financial year 1 January - 31 December 2023.In our opinion, management's review includes a fair review of the matters dealt with in the management's review.Management recommends that the annual report should be approved by the company in general meeting.Nicolai HeinekeMarianne BøttgerchairmanNicolai HeinekeThibault Guy Depoix-JosephTo the shareholder of BusDan 32.1 A/SIn our opinion, the financial statements give a true and fair view of the company's financial position at 31 December 2023 and of the results of the company's operations for the financial year 1 January - 31 December 2023 in accordance with the Danish Financial Statements Act. We have audited the financial statements of BusDan 32.1 A/S for the financial year 1 January - 31 December 2023, 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.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' 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.Statement on 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 Statements Act. We did not identify any material misstatement of management's review.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 the 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.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 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.Hellerup2024-05-30PricewaterhouseCoopersMaj-Britt Nørskov Nannestadstatsautoriseret revisormne32198Jacob Danneferstatsautoriseret revisormne47886Business review The company's purpose is exclusively to manage the properties owned by the company, including subletting them primarily to companies within the bus business.Financial review The company's income statement for the year ended 31 December 2023 shows a loss of TDKK 110, and the balance sheet at 31 December 2023 shows equity of TDKK 20.367.Significant events occurring after the end of the financial year No events have occurred after the balance sheet date which could significantly affect the company's financial position.Expected development of the company Management expects a better result in 2024.Other informations The company's ultimate parent company, Deutsche Bahn AG, sold the Danish Arriva group, where 100% of the shares were sold to Mutares SE & Co. KGaA. The final takeover date was 15th of May 2023.The annual report of BusDan 32.1 A/S for 2023 has been submitted in accordance with the provisions of the Financial Statements Act for companies in accounting class B with optional provisions in class C. The accounting policies applied are consistent with those of last year. The annual report for 2023 is presented in TDKKIncome is recognised in the income statement as earned, including value adjustments of financial assets and liabilities. All expenses, including amortisation, depreciation and impairment losses, are also recognised in the income statement. Assets are recognised in the balance sheet when it is probable that future economic benefits 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 from the company and the value of the liability can be measured reliably. On initial recognition, assets and liabilities are measured at cost. On subsequent recognition, assets and liabilities are measured as described below for each individual accounting item.On initial recognition, foreign currency transactions are translated applying the exchange rate at the transaction date. Foreign exchange differences arising between the exchange rates at the transaction date and at the date of payment are recognised in the income statement as financial income or financial expenses. If foreign currency instruments are considered cash flow hedges, any unrealised value adjustments are taken directly to a fair value reserve under ‘Equity’. Receivables and payables and other monetary items denominated in foreign currencies are translated at the exchange rates at the balance sheet date. The difference between the exchange rates at the balance sheet date and the date at which the receivable or payable arose or was recognised in the latest financial statements is recognised in the income statement as financial income or financial expenses. The net turnover relates to rental income during the period.Production costs include the year's depreciation on the company's fixed assets as well as costs for servicing the facilities.Other operating income and expenses contain accounting items of a secondary nature in relation to the company's main activity.Administrative costs include audit costs and management fees.Depreciation contain the year's depreciation and write-downs of tangible fixed assets.Financial income and expenses consist of interest, which is recognized in the income statement with the amounts relating to the financial year.On payment of joint taxation contributions, the current Danish income tax is allocated between the jointly taxed entities in proportion to their taxable income. Entities with tax losses receive joint taxation contributions from entities that have been able to use tax losses to reduce their own taxable profits. The company is jointly taxed with the parent company Arriva Danmark A/S and other group-affiliated Danish companies. The current corporation tax is distributed between the jointly taxed companies in proportion to their taxable income.Tangible fixed assets are measured at cost less accumulated depreciation and write-downs. The depreciable amount is cost less the expected residual value at the end of the useful life. Land is not depreciated. Cost comprises the purchase price and any costs directly attributable to the acquisition until the date when the asset is available for use. Straight-line depreciation is provided on the basis of the following estimated useful lives of the assets: Land and buildings 0-50 years Technical plants and machines 4-10 years Assets costing less than DKK 50 thousand are expensed in the year of acquisition.Receivables are measured at amortized cost, which normally corresponds to nominal value. Provisions for bad and doubtful debts are made.Current tax liabilities and current tax receivables are recognised in the balance sheet as the estimated tax on the taxable income for the year, adjusted for tax on the taxable income for previous years and tax paid on account. Deferred tax is measured according to the liability method in respect of temporary differences between the carrying amount of assets and liabilities and their tax base, calculated on the basis of the planned use of the asset and settlement of the liability, respectively. Deferred tax is measured at net realisable value. Adjustment is made to deferred tax resulting from elimination of unrealised intra-group profits and losses. Changes in deferred tax, as a result of changes in tax rates, are recognized in the income statement.Liabilities, which include trade payables, payables to group entities and other payables, are measured at amortised cost, which is usually equivalent to nominal value.1370000133800017030001715000-333000-377000440009700003550001000040006600010000110006000-222000-457000-110000338000012200000-110000-11862000190030002024900000190030002024900019003000202490000123860008000700026700026700027500012660000111800001393000126600002039600032909000500000500000198670001997700001220000020367000326770001000002220002800010000290002320002900023200020396000329090005000001997700012200000-12200000-11000005000001986700000355000Gain/loss on sale of assetsGain/loss on sale of assets63000100003000066000100001100060001100060000222000-222000-679000005233200024500052332000245000320830002450001246000033329000-245000190030000The company is jointly and severally liable for income tax with other companies in the joint taxation group.Årsrapport18429101Arriva Danmark A/SSkøjtevej 262770 Kastrup2023-01-012023-12-312022-01-012022-12-3112885075BusDan 32.1 A/SSkøjtevej262770KastrupDKTårnby72302500PricewaterhouseCoopers33771231Maj-Britt Nørskov Nannestadstatsautoriseret revisorStrandvejen442900HellerupDK2024-05-30Cecilie ElgaardRegnskabsklasse BRevisionspåtegningCaseWare-FSRfalsefalsefalsefalse128850752023-01-012023-12-31128850752023-01-012023-12-311128850752023-01-012023-12-312128850752022-01-012022-12-31128850752022-12-31128850752023-12-31128850752023-01-01g:LandAndBuildingsMember128850752023-01-012023-12-31g:LandAndBuildingsMember128850752023-12-31g:LandAndBuildingsMember128850752023-01-01g:FixturesFittingsToolsAndEquipmentMember128850752023-01-012023-12-31g:FixturesFittingsToolsAndEquipmentMember128850752023-12-31g:FixturesFittingsToolsAndEquipmentMember128850752023-01-01g:ContributedCapitalMember128850752023-12-31g:ContributedCapitalMember128850752023-01-01g:RetainedEarningsMember128850752023-01-012023-12-31g:RetainedEarningsMember128850752023-12-31g:RetainedEarningsMember128850752023-01-01g:ProposedDividendRecognisedInEquityMember128850752023-01-012023-12-31g:ProposedDividendRecognisedInEquityMember128850752023-12-31g:ProposedDividendRecognisedInEquityMember128850752023-01-012023-12-311128850752023-01-012023-12-312128850752023-01-012023-12-313128850752023-01-012023-12-311128850752022-01-012022-12-312128850752023-01-012023-12-312iso4217:DKKxbrli:pure