24221415 2024-04-01 2025-03-31 24221415 2024-04-01 2025-03-31 1 24221415 2024-04-01 2025-03-31 1 24221415 2024-04-01 2025-03-31 1 24221415 2024-04-01 2025-03-31 2 24221415 2024-04-01 2025-03-31 3 24221415 2024-04-01 2025-03-31 2 24221415 2023-04-01 2024-03-31 24221415 2025-03-31 24221415 2024-03-31 24221415 2024-03-31 fsa:ContributedCapitalMember 24221415 2024-03-31 fsa:RetainedEarningsMember 24221415 2024-04-01 2025-03-31 fsa:RetainedEarningsMember 24221415 2025-03-31 fsa:ContributedCapitalMember 24221415 2025-03-31 fsa:RetainedEarningsMember iso4217:DKK Annual report 2025-09-15 Wai Ming Teng Dampfærgevej 28 2100 Copenhagen The Board of Directors and the Executive Board have today considered and approved the annual report of BT Denmark ApS for the financial year 01.04.2024 - 31.03.2025. The annual report is presented in accordance with the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.03.2025and of the results of its operations for the financial year 01.04.2024 - 31.03.2025. We believe that the management commentary contains a fair review of the affairs and conditions referred to therein. We recommend the annual report for adoption at the Annual General Meeting. Copenhagen Wai Ming Teng CEO Marit Anke Wilhelmina Cremers-Wit Wai Ming Teng Rasmus Johannes Junge To the shareholders of BT Denmark ApS We have audited the financial statements of BT Denmark ApS for the financial year01.04.2024 - ​31.03.2025, 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.​​ ​​In our opinion, the financial statements give a true and fair view of the Entity’s financial position at31.03.2025and of the results of its operations for the financial year 01.04.2024 - 31.03.2025 in accordance with the Danish Financial Statements Act. We conducted our audit in accordance with International Standards on Auditing (ISAs) and additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further ​described in the "Auditor’s responsibilities for the audit of the financial statements" section of this auditor’s report. We are independent of the 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 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 Entity’s ability to continue ​as a going concern, for disclosing, as applicable, matters related to going concern, and for using the going ​concern basis of accounting in preparing the financial statements unless Management either intends to liquidate ​the Entity 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 Entity’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 Entity’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 ​Entity to cease to continue as a going concern.​Evaluate the overall presentation, structure and content of the financial statements, including the disclosures ​in the notes, and whether the financial statements represent the underlying transactions and ​events in a manner that gives a true and fair view.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 the management commentary. ​​Our opinion 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 audit 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 audit 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.​​​Based on the work we have performed, we conclude that the management commentary 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 the management commentary. Copenhagen KPMG Statsautoriseret Revisionspartnerselskab KPMG Statsautoriseret Revisionspartnerselskab 25578198 25578198 Kenn Wolff Hansen State Authorised Public Accountant mne30154 Jesper Brostrøm Teidor Bihlet State Authorised Public Accountant mne51063 Primary activitiesThe company's business comprised of offering telecommunication and network security services to major corporate customers in the Danish market. Development in activities and financesBT Denmark ApS reported total revenues of 45 million DKK for the financial year 2024/25, marking a notable increase from 37 million DKK in 2023/24. ​ ​External revenues rose significantly to 30 million DKK, up from 16.6 million DKK in the previous year. This growth was primarily driven by expanded business with existing clients and new contracts signed with key players in the mechanical engineering sector. ​ ​In particular, managed network contracts in the mechanical engineering industry contributed 21.5 million DKK to the overall revenue, reflecting a strategic shift in focus and successful execution of large-scale infrastructure projects. OutlookThe financial year 2025/26 is expected to be shaped by continued transformation in the global ICT landscape, including price pressures and market consolidation. Despite these challenges, BT Denmark ApS anticipates maintaining a stable revenue level, supported by long-term contracts and ongoing demand in the mechanical engineering sector. ​ ​Profitability is expected to remain in line with the financial year 2024/25, with a focus on operational efficiency and strategic customer engagement. Events after the balance sheet dateNo events of significance to the annual report have occurred after the balance sheet date. 6593292 6049395 4621886 4426384 1971406 1623011 45905 6234 618868 572557 1398443 1056688 307786 233154 1090657 823534 1090657 823534 1090657 823534 4228572 7056888 4228572 7056888 4228572 7056888 8882978 5373687 1220753 919161 778611 231537 5644832 7410447 16527174 13934832 16527174 13934832 20755746 20991720 137064 137064 8390390 7299733 8527454 7436797 0 11603 0 11603 3270908 1461702 7604244 10463586 527292 176348 173505 159447 652343 1282237 12228292 13543320 12228292 13554923 20755746 20991720 137064 7299733 7436797 1090657 1090657 137064 8390390 8527454 1 Other financial income ​2024/25​DKK2023/24​DKKOther interest income4,2776,234Exchange rate adjustments41,628045,9056,234 2 Other financial expenses2024/25​DKK2023/24​DKKFinancial expenses from group enterprises384,003332,153Other interest expenses117,341126,986Exchange rate adjustments117,524113,418618,868572,557 3 Tax on profit/loss for the year2024/25​DKK2023/24​DKKCurrent tax609,378313,436Change in deferred tax(301,592)(80,282)307,786233,154 4 Property, plant and equipmentOther fixtures and fittings, tools and equipment​DKKCost beginning of year33,429,183Additions1,793,570Disposals(7,294,214)Cost end of year27,928,539Depreciation and impairment losses beginning of year(26,372,295)Depreciation for the year(4,621,886)Reversal regarding disposals7,294,214Depreciation and impairment losses end of year(23,699,967)Carrying amount end of year4,228,572 5 EmployeesThe Entity has no employees other than the Executive Board. The Executive Officer has not received any ​​​remuneration. 6 Group relationsName and registered office of the Parent preparing consolidated financial statements for the smallest group:​British Telecommunications Plc, 1 Braham Street, London, United Kingdom, E1 8EE 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. Recognition 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. Foreign currency translationOn initial recognition, foreign currency transactions are translated applying the exchange rate at the transaction date. Receivables, payables and other monetary items denominated in foreign currencies that have not been settled at the balance sheet date are translated using the exchange rate at the balance sheet date. Exchange differences that arise between the rate at the transaction date and the rate in effect at the payment date, or the rate at the balance sheet date, are recognised in the income statement as financial income or financial expenses. ​ Property, plant and equipment, intangible assets, inventories and other non-monetary assets that have been purchased in foreign currencies are translated using historical rates. Gross profit or lossGross profit or loss comprises revenue, cost of raw materials and consumables and external expenses. RevenueRevenue are recognised when risks and rewards are transferred to the client or a service has been provided.​​Revenue is recognised net of VAT, duties and sales discounts and is measured at fair value of the consideration fixed. Cost of salesCost of sales comprises goods and services consumed in the financial year measured at cost. Depreciation, amortisation and impairment lossesDepreciation, amortisation and impairment losses relating to property, plant and equipment comprise depreciation, amortisation and impairment losses for the financial year. Other financial incomeOther financial income comprises interest income, including interest income on receivables from group enterprises and gains on payables and transactions in foreign currencies and tax relief under the Danish Tax Prepayment Scheme etc. Other financial expensesOther financial expenses comprises interest expenses, including interest expenses on payables to group enterprises and exchange losses on transactions in foreign currencies 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 equipmentOther fixtures and fittings, tools and equipment are measured at cost less accumulated depreciation and impairment losses.​​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 Other fixtures and fittings, tools and equipment4-7 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. ReceivablesReceivables are measured at amortised cost, usually equalling nominal value less writedowns for bad and ​doubtful debts. Deferred taxDeferred tax is recognised on all temporary differences between the carrying amount and the tax-based value of assets and liabilities, for which the tax-based value is calculated based on the planned use of each asset. ​​Deferred tax assets, including the tax base of tax loss carryforwards, are recognised in the balance sheet at ​their estimated realisable value, either as a set-off against deferred tax liabilities or as net tax assets. PrepaymentsPrepayments comprise incurred costs relating to subsequent financial years. Prepayments are measured at ​cost. Other financial liabilitiesOther financial liabilities are measured at amortised cost, which usually corresponds to nominal value. Tax receivable or payableCurrent tax receivable or payable is recognised in the balance sheet, stated as tax computed on this year's ​taxable income, adjusted for prepaid tax. Deferred incomeDeferred income comprises income received for recognition in subsequent financial years. Deferred income ​is measured at cost. true Grundlag for konklusion Konklusion 2025-09-15 2025-09-15 true 2023-04-01 2024-03-31 Copenhagen København N 2200 Regnskabsklasse B Revisionspåtegning 2025-03-31 2024-04-01 529 Sortedam Dossering BT Denmark ApS 24221415 33963556 2300 København S Weidekampsgade 6 Deloitte Statsautoriseret Revisionspartnerselskab