20247800 2020-12-31 cmn:TwoYearsAgoMember 20247800 2019-12-31 cmn:ThreeYearsAgoMember 20247800 2018-12-31 cmn:FourYearsAgoMember 20247800 2022-12-31 20247800 2021-12-31 20247800 2022-01-01 fsa:ContributedCapitalMember 20247800 2022-01-01 fsa:RetainedEarningsMember 20247800 2022-12-31 fsa:ContributedCapitalMember 20247800 2022-12-31 fsa:RetainedEarningsMember 20247800 2022-01-01 fsa:GoodwillMember 20247800 2022-12-31 fsa:GoodwillMember 20247800 2022-01-01 fsa:FixturesFittingsToolsAndEquipmentMember 20247800 2022-01-01 fsa:LeaseholdImprovementsMember 20247800 2022-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 20247800 2022-12-31 fsa:LeaseholdImprovementsMember 20247800 2022-01-01 2022-12-31 20247800 2022-01-01 2022-12-31 1 20247800 2022-01-01 2022-12-31 memberOfBoardIdentifier_executive_board_1 20247800 2022-01-01 2022-12-31 memberOfBoardIdentifier_board_of_director_1 20247800 2022-01-01 2022-12-31 memberOfBoardIdentifier_board_of_director_2 20247800 2022-01-01 2022-12-31 memberOfBoardIdentifier_board_of_director_3 20247800 2022-01-01 2022-12-31 2 20247800 2020-01-01 2020-12-31 cmn:TwoYearsAgoMember 20247800 2019-01-01 2019-12-31 cmn:ThreeYearsAgoMember 20247800 2018-01-01 2018-12-31 cmn:FourYearsAgoMember 20247800 2021-01-01 2021-12-31 20247800 2022-01-01 2022-12-31 fsa:RetainedEarningsMember 20247800 2021-01-01 2021-12-31 fsa:RetainedEarningsMember 20247800 2022-01-01 2022-12-31 fsa:ContributedCapitalMember 20247800 2022-01-01 2022-12-31 fsa:RetainedEarningsMember 20247800 2022-01-01 2022-12-31 fsa:GoodwillMember 20247800 2022-01-01 2022-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 20247800 2022-01-01 2022-12-31 fsa:LeaseholdImprovementsMember iso4217:DKK pure Årsrapport 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Strandvejen 44 2900 Hellerup 2022-01-01 2021-01-01 2022-12-31 2021-12-31 20247800 InfoCare Service A/S Telegrafvej 4, 2 2750 Ballerup Ballerup 70124400 www.infocare.dk 1997-07-01 Skandinaviska Enskilda Banken AB PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab 33771231 Strandvejen 44 2900 Hellerup Denmark 39 45 39 45 koebenhavn@pwc.dk 2023-05-22 Malin Christine Yrwing Regnskabsklasse C, mellemstor virksomhed Revisionspåtegning The Executive Board and Board of Directors have today considered and adopted the Financial Statements of InfoCare Service A/S for the financial year 1 January - 31 December 2022. 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 financial position at 31 December 2022 of the Company and of the results of the Company operations for 2022. In our opinion, Management's Review includes a true and fair account of the matters addressed in the Review. We recommend that the Financial Statements be adopted at the Annual General Meeting. 2023-05-22 Ballerup Ronny Avelino Monteiro Bråthen CEO Malin Christine Yrwing Chairman Ronny Avelino Monteiro Bråthen Wiggo Johansen To the shareholder of InfoCare Service A/S Opinion In our opinion, the Financial Statements give a true and fair view of the financial position of the Company at 31 December 2022 and of the results of the Company´s operations for the financial year 1 January - 31 December 2022 in accordance with the Danish Financial Statements Act. We have audited the Financial Statements of InfoCare Service A/S for the financial year 1 January - 31 December 2022, which comprise income statement, balance sheet, statement of changes in equity and notes, including a summary of significant accounting policies (”the Financial Statements”). 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. 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. 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. 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, 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. Hellerup 2023-05-22 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Morten Jørgensen State Authorised Public Accountant mne32806 Brian Rønne Nielsen State Authorised Public Accountant mne33726 40985000 40581000 38817000 4872000 4809000 -1319000 160000 -1176000 -521000 7532000 3633000 -1840000 20423000 12891000 9258000 33059000 29968000 23530000 0 82 81 84 4.2 9.8 14.7 16.0 -5.6 55.5 48.9 61.8 43.0 39.3 -2.9 37.1 45.2 32.8 -18.1 Selskabet indgår i InfoCare-koncernen, der har hovedsæde i Norge og foruden Danmark også er repræsenteret i Sverige og Finland.Hovedaktiviteten for InfoCare Service A/S er at yde teknologiservice til private og offentlige virksomheder i Danmark. Selskabets produktportefølje omfatter serviceydelser inden for teknisk hardware service, installation, logistikhåndtering og bemandingsopgaver.Selskabet har landsdækkende virke i Danmark med hovedkontorer i Ballerup og lokalkontor i Århus. Key activities The Company is part of the InfoCare Group, which originates from Norway and is represented in the Nordics.The core service provided by InfoCare Service A/S continues to be technical IT services for private and public businesses throughout Denmark. The Company’s service offering covers areas within technical service on hardware and basic software, installation, logistics handling and staffing.The Company's activities consist of on-site service in Ballerup and Århus. Development in the year The income statement of the Company for 2022 shows a loss of TDKK 861, and at 31 December 2022 the balance sheet of the Company shows positive equity of TDKK 28,860.During the acquisition process of Neisa Denmark A/S in 2021, there was established a local goodwill of TDKK 19,191 in the Company. For 2022 the goodwill depreciation amounts to TDKK 1,919. Profit from the operation is therefore positive for 2022. 54371295 53660303 49409879 46313479 2767962 1367235 2193454 5979589 107675 383280 862626 504550 1438503 5858319 2300000 -3441000 -861497 9299319 -861497 9299319 16389624 16767606 16389624 16767606 538054 839084 74167 174123 612221 1013207 1197209 953454 22192541 25379873 0 106 34090802 42134718 51956002 60837720 190000 354801 673355 567388 863355 922189 17865200 18703002 1197209 953454 6141000 8441000 848007 668136 29181548 34489115 0 16721 3712045 6675428 2506000 2506000 371421 735157 371421 735157 15436857 6428146 19407 7119164 401742 59544 2506000 2506000 26354400 27215897 28860400 29721897 2355364 3540577 4510811 13233235 22724181 30380666 22724181 30380666 51956002 60837720 2506000 27215897 0 -861497 2506000 26354400 No events materially affecting the assessment of the Annual Report have occurred after the balance sheet date. 44684637 42291169 3085852 2845654 921512 808526 717878 368130 49409879 46313479 109 116 Remuneration to the Executive Board has not been disclosed in accordance with section 98 B(3) of the Danish Financial Statements Act. 2300000 -3441000 2300000 -3441000 17650112 1541144 19191256 882506 1919126 2801632 16389624 Amortised over 10 years 4662602 1446445 447850 0 5110452 1446445 3823518 1272322 748880 99956 4572398 1372278 538054 74167 3-7 years years 5 years years Prepayments consist of prepaid expenses concerning rent, insurance premiums, subscriptions etc. Deferred tax asset at 1 January 8,441,000 5,000,000 Amounts recognised in the income statement for the year -2,300,000 3,441,000 Deferred tax asset at 31 December 6,141,000 8,441,000 The deferred tax asset is estimated to be utilized in the forthcoming 1- 5 years. Charges and security The following assets have been placed as security with bankers The following assets have been placed as security with bankers: Trade receivables 16,330,972 16,924,984 Inventories 1,197,209 953,454 Rental and lease obligations Lease obligations under operating leases. Total future lease payments: Within 1 year 2,559,453 2,871,631 Between 1 and 5 years 2,627,291 3,053,839 5,186,744 5,925,470 Other contingent liabilities The company's shares have been pledged with Skandinaviska Enskilda Banken in connection with a loan agreement on 21 August 2007. Controlling interest InfoCare Holding AS Stakeholder Transactions The Company has chosen only to disclose transactions which have not been made on an arm's length basis in accordance with section 98(c)(7) of the Danish Financial Statements Act. Ownership The following shareholders are recorded in the Company's register of shareholders as holding at least 5% of the votes or at least 5% of the share capital: InfoCare Holding AS, Norway The Company is included in the Group Annual Report of the Parent Company of the largest and smallest group: Name Place of registered office InfoCare Holding AS Skibåsen 33h, Box 9018 Sørlandsparken, NO-4696 Kristiansand, Norway The Group Annual Report of InfoCare Holding AS may be obtained at the following address:InfoCare Holding ASSkibåsen 33hBox 9018 SørlandsparkenNO-4696 KristiansandFurthermore, the Company is included in the Group Annual Report of Aars As, which may be obtained at theadress Bygdøy Allé 4, 0257 Oslo, Norway The Annual Report of InfoCare Service A/S for 2022 has been prepared in accordance with the provisions of the Danish Financial Statements Act applying to medium-sized enterprises of reporting class C. Certain amounts have been reclassified in the comparative figures for 2021 to ensure the same presentation. The accounting policies applied remain unchanged from last year. The Financial Statements for 2022 are presented in DKK. With reference to section 86(4) of the Danish Financial Statements Act and to the cash flow statement included in the consolidated financial statements of InfoCare Holding AS, the Company has not prepared a cash flow statement. Revenues are 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. 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. Business combinations Business acquisitions carried through on or after 1 July 2018 Acquisitions of subsidiaries are accounted for using the purchase method under which the identifiable assets and liabilities of the entity acquired are measured at fair value at the time of acquisition. The time of acquisition is the time when the Group obtains control of the entity acquired. The cost of the entity acquired is the fair value of the consideration agreed, including consideration contingent on future events. Transaction costs directly attributable to the acquisition of subsidiaries are recognised in the income statement as incurred. Positive differences between the cost of the entity acquired and identifiable assets and liabilities are recognised as goodwill in intangible assets in the balance sheet and are amortised in the income statement on a straight-line basis over their estimated useful lives. Where the differences are negative, they are recognised immediately in the income statement. Where the purchase price allocation is not final, positive and negative differences from acquired subsidiaries due to changes to the recognition and measurement of identifiable net assets may be adjusted for up to 12 months after the time of acquisition. These adjustments are also reflected in the value of goodwill or negative goodwill, including in amortisation already made. Where cost includes contingent consideration, this is measured at fair value at the time of acquisition. Contingent consideration is subsequently measured at fair value. Any value adjustments are recognised in the income statement. All leases are considered operating leases. Payments made under operating leases are recognised in the income statement on a straight-line basis over the lease term. Danish kroner is used as the presentation currency. All other currencies are regarded as foreign currencies. Transactions in foreign currencies are translated at the exchange rates at the dates of transaction. Exchange differences arising due to differences between the transaction date rates and the rates at the dates of payment are recognised in financial income and expenses in the income statement. Receivables, payables and other monetary items in foreign currencies that have not been settled at the balance sheet date are translated at the exchange rates at the balance sheet date. Any differences between the exchange rates at the balance sheet date and the rates at the time when the receivable or the debt arose are recognised in financial income and expenses in the income statement. Revenue from the sale is recognised in the income statement when the sale is considered effected based on the following criteria:• delivery has been made before year end;• a binding sales agreement has been made;• the sales price has been determined; and• payment has been received or may with reasonable certainty be expected to be received. Expenses for raw materials and consumables comprise the raw materials and consumables consumed to achieve revenue for the year. Other external expenses comprise expenses for premises, sales as well as office expenses, etc. With reference to section 32 of the Danish Financial Statements Act, gross profit/loss is calculated as a summary of revenue, expenses for raw materials and consumables and other external expenses. Staff expenses comprise wages and salaries as well as payroll expenses. Amortisation, depreciation and impairment losses comprise amortisation, depreciation and impairment of intangible assets and property, plant and equipment. Dividends from associates are recognised as income in the income statement when adopted at the General Meeting of the associate. However, dividends relating to earnings in the associate before it was acquired by the Parent Company are set off against the cost of the associate. Financial income and expenses comprise interest, financial expenses in respect of finance leases, realised and unrealised exchange adjustments, price adjustment of securities, amortisation of mortgage loans as well as extra payments and repayment under the on-account taxation scheme. Tax for the year consists of current tax for the year and deferred tax for the year. The tax attributable to the profit for year is recognised in the income statement, whereas the tax attributable to equity transactions is recognised directly in equity. Any changes in deferred tax due to changes to tax rates are recognised in the income statement. Goodwill is amortised on a straight-line basis over the estimated useful life of 10 years. Property, plant and equipment are measured at cost less accumulated depreciation and less any accumulated impairment losses. Cost comprises the cost of acquisition and expenses directly related to the acquisition up until the time when the asset is ready for use. Depreciation based on cost reduced by any residual value is calculated on a straight-line basis over the expected useful lives of the assets, which are: Other fixtures and fittings, tools and equipment 3-7 years Leasehold improvements The fixed assets’ residual values are determined at nil. 5 years Depreciation period and residual value are reassessed annually. The carrying amounts of intangible assets and property, plant and equipment and investments are reviewed on an annual basis to determine whether there is any indication of impairment other than that expressed by amortisation and depreciation. The recoverable amount of the asset is calculated as the higher of net selling price and value in use. Where a recoverable amount cannot be determined for the individual asset, the assets are assessed in the smallest group of assets for which a reliable recoverable amount can be determined based on a total assessment. Goodwill, head office buildings and other assets for which a separate value in use cannot be determined as the asset does not on an individual basis generate future cash flows are reviewed for impairment together with the group of assets to which they are attributable. Investments in associates are measured at cost. Where cost exceeds the recoverable amount, write-down is made to this lower value. Other fixed asset investments consist of long term receivables which are recognised in the balance sheet at amortised cost, which substantially corresponds to nominal value. Provisions for estimated bad debts are made. Inventories are measured at the lower of cost under the FIFO method and net realisable value. The net realisable value of inventories is calculated at the amount expected to be generated by sale of the inventories in the process of normal operations with deduction of selling expenses and costs of completion. The net realisable value is determined allowing for marketability, obsolescence and development in expected selling price. The cost of goods for resale equals landed cost. 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. Prepayments comprise prepaid expenses concerning subsequent financial years. Current Asset Investments, which consist of listed bonds and shares, are measured at their fair values at the balance sheet date. Fair value is determined on the basis of the latest quoted market price. Investments which are not traded in an active market are measured at the lower of cost and recoverable amount. Provisions are recognised when - in consequence of an event occurred before or on the balance sheet date - the Company has a legal or constructive obligation and it is probable that economic benefits must be given up to settle the obligation. Deferred tax is recognised in respect of all temporary differences between the carrying amount and the tax base of assets and liabilities. However, deferred tax is not recognised in respect of temporary differences concerning goodwill not deductible for tax purposes and other items - apart from business acquisitions - where temporary differences have arisen at the time of acquisition without affecting the profit for the year or the taxable income. Deferred tax is measured on the basis of the tax rules and tax rates that will be effective under the legislation at the balance sheet date when the deferred tax is expected to crystallise as current tax. In cases where the computation of the tax base may be made according to alternative tax rules, deferred tax is measured on the basis of the intended use of the asset and settlement of the liability, respectively. Deferred tax assets, including the tax base of tax loss carry-forwards, are measured at the value at which the asset is expected to be realised, either by elimination in tax on future earnings or by set-off against deferred tax liabilities. Deferred tax assets and liabilities are offset within the same legal tax entity. Current tax liabilities and receivables are recognised in the balance sheet as the expected taxable income for the year adjusted for tax on taxable incomes for prior years and tax paid on account. Extra payments and repayment under the onaccount taxation scheme are recognised in the income statement in financial income and expenses. Debts are measured at amortised cost, substantially corresponding to nominal value. Deferred income comprises payments received in respect of income in subsequent years. Return on assets Profit before financials x 100 / Total assets at year end Solvency ratio Equity at year end x 100 / Total assets at year end Return on equity Net profit for the year x 100 / Average equity