xbrli:pureiso4217:DKK419341822022-01-012022-12-31419341822022-01-012022-12-311419341822022-01-012022-12-311419341822022-01-012022-12-312419341822022-01-012022-12-31419341822021-01-012021-12-31419341822022-01-012022-12-31fsa:RetainedEarningsMember419341822021-01-012021-12-31fsa:RetainedEarningsMember419341822022-01-012022-12-31fsa:RetainedEarningsMember419341822022-12-31419341822021-12-31419341822022-01-01fsa:ContributedCapitalMember419341822022-01-01fsa:ReserveForDevelopmentExpenditureMember419341822022-01-01fsa:RetainedEarningsMember419341822022-01-01419341822022-12-31fsa:ContributedCapitalMember419341822022-12-31fsa:ReserveForDevelopmentExpenditureMember419341822022-12-31fsa:RetainedEarningsMember419341822022-01-012022-12-31fsa:ReserveForDevelopmentExpenditureMemberGrundlag for konklusionKonklusion2023-07-102023-07-10true2021-01-012021-12-3133963556København S23006WeidekampsgadeDeloitte Statsautoriseret RevisionspartnerselskabKøbenhavnKøbenhavn S2300Regnskabsklasse BErklæring om udvidet gennemgang2022-12-312022-01-01<br /><br />106AmagerfælledvejDexi ApS41934182339635562300 København SWeidekampsgade 6Deloitte Statsautoriseret RevisionspartnerselskabÅrsrapportThe Executive Board has today considered and approved the annual report of Dexi 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 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.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.CopenhagenEdris Adam BemanianAditya GulatiTo the shareholders of Dexi ApSWe have performed an extended review of the financial statements of Dexi 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.CopenhagenClaus Jorch Andersenmne33712State Authorised Public AccountantPrimary activitiesThe Company’s primary activity is to function as web scraping software and also related businessDescription of material changes in activities and financesNet loss for the year is TDKK 5,137, and equity is negative by TDKK 9,126 at 31.12.2022 and is considered as lower than expected. The Company’s equity is lost at 31th of December 2022 but will we be reestablished either by a cash capital increase or a debt conversion. The company has obtained a letter of support from its parent company. Events after the balance sheet dateNo events have occurred after the balance sheet date to this date, which would influence the evaluation of this annual report.64160046957785242033581209728734482963498-7473881-40798172322685128524902700583-5676098-4780272-538882-751725-5137216-4028547-5137216-4028547-513721661028236517598610282365175980920909209102000281471102000281471620482368082781062711807406997074753888275172559020883427914784513117373805396545269428767773730400004000047602025083726-13925965-9112273-9125763-3988547400005083726-9112273-3988547400004760202-13925965243359238353243359238353297485284551170815132925143061399641392093957910508415254771582528011523924160686391176227769428767773730-3235243235240​The company has obtained a letter of support from its parent company.1 Staff costs2022 DKK2021 DKKWages and salaries5,088,9485,503,568Pension costs056,993Other social security costs62,96065,391Other staff costs90,125186,1455,242,0335,812,097Average number of full-time employees89892 Depreciation, amortisation and impairment losses2022 DKK2021 DKKAmortisation of intangible assets2,864,2392,954,288Depreciation of property, plant and equipment9,2099,2102,873,4482,963,4983 Other financial income 2022 DKK2021 DKKExchange rate adjustments428,548128Remission of debt etc.1,894,13702,322,6851284 Other financial expenses2022 DKK2021 DKKFinancial expenses from associates286,564248,584Other interest expenses7,90412,013Exchange rate adjustments230,159439,986Other financial expenses2750524,902700,583<br />2022 DKK2021 DKKFinancial expenses from associates286,564248,584Other interest expenses7,90412,013Exchange rate adjustments230,159439,986Other financial expenses2750524,902700,5835 Tax on profit/loss for the year2022 DKK2021 DKKCurrent tax(538,882)(751,725)(538,882)(751,725)6 Intangible assetsCompleted development projects DKKCost beginning of year15,437,447Additions2,449,464Cost end of year17,886,911Amortisation and impairment losses beginning of year(8,919,849)Amortisation for the year(2,864,239)Amortisation and impairment losses end of year(11,784,088)Carrying amount end of year6,102,8237 Development projectsThe development projects comprise digital development of a digital market place, which the Company ​uses in its operations. The platform is used by the Company’s customers and employees. The platform is ​continuously further developed and the projects are continuously completed and put to use, after which ​amortisation is commenced. ​ ​With reference to section 83(2) of the Danish Financial Statement Act, deferred tax is set off against the ​capitalised costs for development projects in the reserve for development costs under equity.8 Property, plant and equipmentOther fixtures and fittings, tools and equipment DKKCost beginning of year36,839Cost end of year36,839Depreciation and impairment losses beginning of year(27,630)Depreciation for the year(9,209)Depreciation and impairment losses end of year(36,839)Carrying amount end of year09 Financial assetsDeposits DKKCost beginning of year281,471Additions16,000Disposals(195,471)Cost end of year102,000Carrying amount end of year102,00010 Share capitalNumberPar value DKKNominal value DKKStock40010040,00040040,00011 Non-current liabilities other than provisionsDue after more than 12 months 2022 DKKOther payables243,359243,359There are no long-term liabilities that are due five years after the balance sheet dateThis 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.Gross profit or lossGross profit or loss comprises revenue, server maintenance expenses and external expenses.RevenueRevenue from the sale of services is recognised in the income statement when delivery is made to the buyer. Revenue is recognised net of VAT, duties and sales discounts and is measured at fair value of the consideration fixed.Other operating incomeOther operating income comprises income of a secondary nature as viewed in relation to the Entity’s primary activities.Cost of salesCost of sales comprises goods consumed in the financial year measured at cost, adjusted for ordinary inventory writedowns.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.Staff costsStaff costs comprise salaries and wages, and social security contributions, pension contributions, etc for entity staff.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.Other financial incomeOther financial income comprises interest income, including interest income on receivables from group enterprises, payables and transactions in foreign currencies, 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, payables and 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.Intellectual property rights etc.Intellectual property rights etc comprise development projects completed and in progress with related intellectual property rights, acquired intellectual property rights and prepayments for intangible assets.Development projects on clearly defined and identifiable products and processes, for which the technical rate ​of utilisation, adequate resources and a potential future market or development opportunity in the enterprise ​can be established, and where the intention is to manufacture, market or apply the product or process in question, are recognised as intangible assets. Other development costs are recognised as costs in the income ​statement as incurred. When recognising development projects as intangible assets, an amount equalling ​the costs incurred less deferred tax is taken to equity under Reserve for development costs that is reduced ​as the development projects are amortised and written down. ​​ ​​The cost of development projects comprises costs such as salaries and amortisation that are directly and ​indirectly attributable to the development projects. ​ ​Completed development projects are amortised on a straight-line basis using their estimated useful lives ​​which are determined based on a specific assessment of each development project. If the useful life cannot ​​be estimated reliably, it is fixed at 10 years. For development projects protected by intellectual property rights, ​the maximum period of amortisation is the remaining duration of the relevant rights. The amortisation periods ​used are 5 years.​ ​Intellectual property rights etc. are written down to the lower of recoverable amount and carrying amount.Property, plant and equipmentLand and buildings, plant and machinery, and other fixtures and fittings, tools and equipment 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 Other fixtures and fittings, tools and equipment3-5 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.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.CashCash comprises cash in hand and bank deposits.Other financial liabilitiesOther financial liabilities are measured at amortised cost, which usually corresponds to nominal value.Prepayments received from customersPrepayments received from customers comprise amounts received from customers prior to delivery of the goods agreed or completion of the service agreed.2023-07-10Aditya Gulati