254998752021-01-012021-12-31254998752021-01-012021-12-311254998752021-01-012021-12-313254998752021-01-012021-12-314254998752021-01-012021-12-315254998752021-01-012021-12-31RevPers6254998752021-01-012021-12-31fsa:RetainedEarningsMember254998752021-01-012021-12-31fsa:ContributedCapitalMember254998752021-01-012021-12-31fsa:RetainedEarningsMember254998752020-01-012020-12-31254998752020-01-012020-12-31fsa:RetainedEarningsMember254998752021-12-31254998752021-01-01fsa:ContributedCapitalMember254998752021-01-01fsa:RetainedEarningsMember254998752020-12-31xbrli:purexbrli:pureiso4217:DKKxbrli:sharesTo the shareholders of NETPOSTEN A/S Basis of opinion We conducted our audit in accordance with International Standards on Auditing (ISAs) and additional requirements applicable in Denmark. Our responsibility under those standards and requirements are further described in the “Auditors' responsibility 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 (including International Independence Standards) (IESBA Code) together with the ethical requirements that are relevant to our audit of the financial statement 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. Opinion We have audited the financial statements of NETPOSTEN A/S for the financial year 1 January 2021 - 31 December 2021, which comprise an income statement, balance sheet, statement of changes in equity and notes. 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 Company's financial position at 31 December 2021 and of the results of its operations for the financial year 1 January 2021 - 31 December 2021 in accordance with the Danish Financial Statements Act. 2022-03-08HørsholmOur responsibility is to obtain reasonable assurance as to whether the financial statements are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is no guarantee that an audit conducted in accordance with ISAs and additional requirements applicable in Denmark will always detect material misstatements. Misstatements can arise from fraud or error and can be considered material if it would be reasonable to expect that these - either individually or collectively - could influence the economic decisions taken by the users of financial statements on the basis of these financial statements. As part of an audit conducted in accordance with ISAs and additional requirements applicable in Denmark, we exercise professional judgement and maintain an attitude of professional skepticism throughout the audit. We also: * Identify and assess the risk of material misstatements in 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 a material misstatement resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations or 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 whether the accounting policies used are appropriate and whether the accounting estimates and the related disclosures made by Management are reasonable. * Conclude on whether Management's use of the going concern basis of accounting in preparing the financial statements is appropriate and, based on the audit evidence obtained, conclude on whether a material uncertainty exists relating to events or conditions, which could 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 auditors' 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 auditors' report. However, future events or conditions may imply that the Company can no longer remain a going concern. * Evaluate the overall presentation, structure and contents of the financial statements, including note disclosures, and whether the financial statements reflect 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 which we identify during our audit. , The auditor's responsibility for the audit of the financial statements Our responsibility is to obtain reasonable assurance as to whether the financial statements are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is no guarantee that an audit conducted in accordance with ISAs and additional requirements applicable in Denmark will always detect material misstatements. Misstatements can arise from fraud or error and can be considered material if it would be reasonable to expect that these - either individually or collectively - could influence the economic decisions taken by the users of financial statements on the basis of these financial statements. As part of an audit conducted in accordance with ISAs and additional requirements applicable in Denmark, we exercise professional judgement and maintain an attitude of professional skepticism throughout the audit. We also: * Identify and assess the risk of material misstatements in 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 a material misstatement resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations or 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 whether the accounting policies used are appropriate and whether the accounting estimates and the related disclosures made by Management are reasonable. * Conclude on whether Management's use of the going concern basis of accounting in preparing the financial statements is appropriate and, based on the audit evidence obtained, conclude on whether a material uncertainty exists relating to events or conditions, which could 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 auditors' 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 auditors' report. However, future events or conditions may imply that the Company can no longer remain a going concern. * Evaluate the overall presentation, structure and contents of the financial statements, including note disclosures, and whether the financial statements reflect 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 which we identify during our audit. Management's responsibility for the financial statements 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 considers 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 either liquidate the Company or suspend operations, or has no realistic alternative but to do so. 39463113mne31406Michel HansenJan Fredskilde AndersenCarsten Nørgaard BachJesper BenderJan Fredskilde AndersenKRESTON CMManagerChairmanBoard MemberBoard MemberRevisionspåtegningtrue237315998201110907635384Regnskabsklasse B200000020000002326338711480248024 Reporting Class The Annual Report of NETPOSTEN A/S for 2021 has been presented in accordance with the provisions of the Danish Financial Statements Act applying to enterprises of reporting class B. The accounting policies applied remain unchanged from last year. Reporting currency The Annual Report is presented in Danish kroner. Translation policies Transactions in foreign currencies are translated into DKK at the exchange rate prevailing at the date of transaction. Monetary assets and liabilities in foreign currencies are translated into DKK based on the exchange rates prevailing at the balance sheet day. Realised and unrealised foreign exchange gains and losses are included in the Income Statement under Financial Income and Expenses. General Information Basis of recognition and measurement The financial statement have been prepared under the historical cost principle. Income is recognised in the Income Statement as it is earned, including value adjustments of financial assets and liabilities that are measured at fair value or amortised cost. 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 accrue 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 attributable to the asset will flow out of the Company, and the value of the liability can be measured reliably. At initial recognition, assets and liabilities are measured at cost. Subsequently, assets and liabilities are measured as described for each item below. Certain financial assets and liabilities are measured at amortised cost, which involves the recognition of a constant effective interest rate over the term. Amortised cost is calculated as original cost less repayments and with the addition/deduction of the accumulated amortisation of the difference between the cost and the nominal amount. This way, exchange losses and gains are allocated over the term. In connection with recognition and measurement, consideration is given to predictable losses and risks occurring prior to the presentation of the Annual Report, i.e. losses and risks which prove or disprove matters which exist at the balance sheet date. Income Statement Gross profit/loss The Company has decided to aggregate certain items of the Income Statement in accordance with the provisions of Section 32 of the Danish Financial Statements Act. Gross profit is a combination of the items of revenue, change in inventories of finished goods, work in progress and goods for resale, other operation income, cost of raw and consumables and other external expenses. Revenue Revenue is recognised in the income statement if the goods have been delivered and the risk has passed to the byer before year-end and if the revenue can be reliably calculated and expected to be received. Revenue is recognised excluding VAT and net of sales discounts. Costs for raw materials and consumables comprise the cost of goods purchased less discounts, costs subcontractors and change in inventories for the year. Other external expenses Other external costs include costs for distribution, sales, advertising, administration, premises. loss of debitors, operating leasing costs etc. Staff expenses Staff expenses comprise wages, salaries and other pay-related costs, such as sickness benefits for enterprise employees less wage/salary reimbursement, pensions and social security costs. Other staff expenses are recognised in other external expenses. Amortisation and impairment of tangible and intangible assets Useful life Residual value Other fixtures and fittings, tools and equipment 3-10 years 0% Other operating expenses Other operating expenses include items relating to activities secondary to the main activity of the enterprises. Financial income and expenses Financial income and expenses are recognised in the Income Statement based on the amounts that concern the financial year. Financial income and expenses include interest revenue and expenses, financial expenses of finance leases, realised and unrealised capital gains and losses regarding securities, accounts payable and transactions in foreign currencies, repayment on mortgage loans, and surcharges and allowances under the tax prepayment scheme. Dividends equity investments are recognised as income in the financial year in which the dividends are declared. Tax on net profit for the year Tax on net profit/loss for the year comprises current tax on expected taxable income of the year and the year's adjustment of deferred tax less the part of the tax of the year that relates to changes in equity. Current and deferred tax regarding changes in equity is recognised directly in equity. The Company and the Danish associates are taxed jointly. The Danish income tax is distributed between profit- and loss-making Danish enterprises in relation to their taxable income (full distribution). Balance Sheet Tangible assets Tangible assets are measured at cost on initial recognition and subsequently at cost less accumulated depreciation and impairment losses. The depreciable amount is calculated taking into consideration the residual value of the asset at the end of its useful life, reduced by impairment losses, if any. The depreciation period and the residual value are determined at the data of acquisition. If the residual value exceeds the carrying amount of the asset, depreciation is discontinued. In case of changes in depreciation period or residual value, the effect of a change in depreciation period is recognised prospectively in accounting estimates. Cost includes the purchase priceand expenses directly related to the acquisition until the time when the asset is ready for use. The cost of self-constructed assets includes costs for materials, components, subcontractors, direct payroll costs and indirect production costs. The cost of composite asset is disaggregated into components, which are seperately depreciated if the usefull lives of the individual components differ. Other fixtures and fittings, tools and equipment 3-10 years 0% Receivables Receivables are measured at amortised cost which usually corresponds to the nominal value. The value is reduced by write-downs for expected bad debts. Impairment of accounts receivables past due is established on individual assessment of receivables. Accrued income, assets Accrued income recognised in assets comprises prepaid costs regarding subsequent financial years. Cash and cash equivalents Cash and cash equivalents comprise cash at bank and in hand as well as short-term securities with a term of less than three months which can be converted directly into cash at bank and in hand and involve only an insignificant risk of value changes. Equity Equity comprises the working capital and a number of equity items that may be statutory or stipulated in the articles of association. Current tax liabilities Current tax liabilities and current tax receivables are recognised in the Balance Sheet as calculated tax on the expected taxable income for the year, adjusted for tax on taxable income for previous years as well as for tax prepaid. Other payables Other payables are measured at amortised cost, which usually corresponds to the nominal value Accruals and deferred income entered as liabilities Accruals and deferred income entered as liabilities consist of payments received regarding income in the subsequent financial years. Contingent assets and liabilities Contingent assets and liabilities are not recognised in the Balance Sheet but appear only in the notes. 5. Contingent liabilities The Company is jointly taxed with the other enterprises in the group and are jointly and severally liable for the taxes that concern the joint taxation. The total amount appears from the annual report of XYZ Holding ApS which is the administration company in the joint taxation. (Can be omitted in the administration company) 1. Employee benefits expense Wages and salaries 19.231 553.742 Post-employement benefit expense 0 61.277 Social security contributions 1.990 7.307 21.221 622.326 Average number of employees 1 1 Contributed Retained capital earnings Total Equity 1 January 2021 2.000.000 -9.196.086 -7.196.086 Profit (loss) -214.355 -214.355 Equity 31 December 2021 2.000.000 -9.410.441 -7.410.441 The share capital has remained unchanged for the last 5 years. 3. Long-term liabilities Due Due Due after 1 year within 1 year after 5 years Payables to group enterprises 7.394.352 0 7.394.352 7.394.352 0 7.394.352 6. Collaterals and securities No securities or mortgages exist at the balance sheet date. 2. Tax expense Tax expense on ordinary activities 0 0 0 0 4. Uncertainties relating to going concern 212216223269196086-7410441-7196086-200000021650419456546821270632028-151738237315998207647756729590673943526982250739435269822504682127060207506559118555215044-214355-214355-214355-9812550-981255-214355-9812552783-788647468212706634118-9410441-9196086false253404313656123557517301348499861283161469412970, HørsholmUsserød Kongevej 1572022-04-07www.npinvestor.dk2549987539463113ÅrsrapportJan Fredskilde AndersenNETPOSTEN A/SKRESTON CM, Statsautoriseret Revisionsinteressentskab2020-01-012020-12-312021-12-312021-01-0188300000Development in the activities and the financial situation of the Company Development in activities and the financial situation The Company's Income Statement of the financial year 1 January 2021 - 31 December 2021 shows a result of DKK -214.355 and the Balance Sheet at 31 December 2021 a balance sheet total of DKK 237.315 and an equity of DKK -7.410.441. Moderselskabet har afgivet tilbagetrædelseserklæring samt erklæret, at de om nødvendigt vil tilføre den nødvendige likviditet, hvorfor årsrapporten er aflagt under forudsætning om virksomhedens fortsatte drift., Development in activities and the financial situation The Company's Income Statement of the financial year 1 January 2021 - 31 December 2021 shows a result of DKK -214.355 and the Balance Sheet at 31 December 2021 a balance sheet total of DKK 237.315 and an equity of DKK -7.410.441. Moderselskabet har afgivet tilbagetrædelseserklæring samt erklæret, at de om nødvendigt vil tilføre den nødvendige likviditet, hvorfor årsrapporten er aflagt under forudsætning om virksomhedens fortsatte drift.The Company's principal activities The Company's principal activities consist in ... The Company's principal activities The Company's principal activities consist in ... Development in the activities and the financial situation of the Company Development in activities and the financial situation The Company's Income Statement of the financial year 1 January 2021 - 31 December 2021 shows a result of DKK -214.355 and the Balance Sheet at 31 December 2021 a balance sheet total of DKK 237.315 and an equity of DKK -7.410.441. Moderselskabet har afgivet tilbagetrædelseserklæring samt erklæret, at de om nødvendigt vil tilføre den nødvendige likviditet, hvorfor årsrapporten er aflagt under forudsætning om virksomhedens fortsatte drift. Post financial year events After the end of the financial year, no events have occurred which may change the financial position of the entity substantially. 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 assets, liabilities and financial position of the Company at 31 December 2021 and of the results of the Company's operations for the financial year 1 January 2021 - 31 December 2021. 2022-03-08Today, Management has considered and adopted the Annual Report of NETPOSTEN A/S for the financial year 1 January 2021 - 31 December 2021. KøbenhavnWe recommend that the Annual Report be adopted at the Annual General Meeting. Today, Management has considered and adopted the Annual Report of NETPOSTEN A/S for the financial year 1 January 2021 - 31 December 2021. 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 assets, liabilities and financial position of the Company at 31 December 2021 and of the results of the Company's operations for the financial year 1 January 2021 - 31 December 2021. We recommend that the Annual Report be adopted at the Annual General Meeting. København, 8 March 2022 Executive Board Jan Fredskilde Andersen Manager Supervisory Board Carsten Nørgaard Bach Jesper Bender Jan Fredskilde Andersen Chairman Member Member