27278388 2022-01-01 2022-12-31 27278388 2022-01-01 2022-12-31 cmn:PreviousYearMember 27278388 2022-01-01 2022-12-31 cmn:TwoYearsAgoMember 27278388 2022-01-01 2022-12-31 cmn:ThreeYearsAgoMember 27278388 2022-01-01 2022-12-31 cmn:FourYearsAgoMember 27278388 2022-01-01 2022-12-31 382 27278388 2022-01-01 2022-12-31 cmn:PreviousYearMember 382 27278388 2022-01-01 2022-12-31 cmn:TwoYearsAgoMember 382 27278388 2022-01-01 2022-12-31 cmn:ThreeYearsAgoMember 382 27278388 2022-01-01 2022-12-31 cmn:FourYearsAgoMember 382 27278388 2022-12-31 27278388 2022-12-31 cmn:PreviousYearMember 27278388 2022-12-31 cmn:TwoYearsAgoMember 27278388 2022-12-31 cmn:ThreeYearsAgoMember 27278388 2022-12-31 cmn:FourYearsAgoMember 27278388 2022-01-01 2022-12-31 389 27278388 2022-01-01 2022-12-31 cmn:PreviousYearMember 389 27278388 2022-01-01 2022-12-31 cmn:TwoYearsAgoMember 389 27278388 2022-01-01 2022-12-31 cmn:ThreeYearsAgoMember 389 27278388 2022-01-01 2022-12-31 cmn:FourYearsAgoMember 389 27278388 2022-01-01 2022-12-31 401 27278388 2022-01-01 2022-12-31 cmn:PreviousYearMember 401 27278388 2022-01-01 2022-12-31 cmn:TwoYearsAgoMember 401 27278388 2022-01-01 2022-12-31 cmn:ThreeYearsAgoMember 401 27278388 2022-01-01 2022-12-31 cmn:FourYearsAgoMember 401 27278388 2021-01-01 2021-12-31 fsa:ProposedDividendRecognisedInEquityMember 27278388 2022-01-01 2022-12-31 fsa:ProposedDividendRecognisedInEquityMember 27278388 2022-01-01 27278388 2021-01-01 27278388 2022-01-01 27278388 2022-01-01 2022-12-31 fsa:RetainedEarningsMember 27278388 2021-01-01 2021-12-31 fsa:RetainedEarningsMember 27278388 2022-01-01 2022-12-31 27278388 2022-12-31 27278388 2021-01-01 2021-12-31 27278388 2021-12-31 27278388 2022-01-01 2022-12-31 1 27278388 2022-01-01 2022-12-31 2 27278388 2022-01-01 2022-12-31 3 27278388 2022-01-01 2022-12-31 1 27278388 2022-01-01 2022-12-31 2 iso4217:DKK xbrli:pure 2022-01-01 2022-12-31 2023-02-15 2023-02-10 2023-02-10 Copenhagen inforevision statsautoriseret revisionsaktieselskab 2860 Søborg Deichmann-Sko ApS Buddingevej 312 Vesterbrogade 6D, 1. 1620 Søborg 27278388 2021-01-01 2021-12-31 60050000 70230000 46279000 58636000 73353000 -2531000 Resultat af primær drift 12149000 Resultat af primær drift -9273000 Resultat af primær drift 4220000 Resultat af primær drift 18909000 Resultat af primær drift -79000 -104000 -143000 -62000 -84000 -1932000 9395000 -7345000 3240000 14679000 98158000 112583000 105398000 105703000 100438000 40617000 Investeret kapital 16869000 Investeret kapital 23256000 Investeret kapital 22158000 Investeret kapital 23521000 Investeret kapital 71728000 88660000 79264000 86609000 83369000 144 144 144 144 146 -0.1 0.6 -0.4 0.2 1.1 0.7 0.8 0.8 0.8 0.8 0.0 0.1 -0.1 0.0 0.2 -5.9 NIBD/​​​​​EBITDA -3.2 NIBD/​​​​​EBITDA 0.0 NIBD/​​​​​EBITDA 0.0 NIBD/​​​​​EBITDA 0.0 NIBD/​​​​​EBITDA FINANCIAL HIGHLIGHTS 2022 2021 2020 2019 2018 DKK'000 DKK'000 DKK'000 DKK'000 DKK'000 Key figures Income statement       Gross profit/loss 60,050 70,230 46,279 58,636 73,353 EBIT -2,531 12,149 -9,273 4,220 18,909 Net financials -79 -104 -143 -62 -84 Profit/loss for the year -1,932 9,395 -7,345 3,240 14,679 Balance sheet Total assets 98,158 112,583 105,398 105,703 100,438 Invested capital 40,617 16,869 23,256 22,158 23,521 Equity 71,728 88,660 79,264 86,609 83,369       Average number of full-time employee 144 144 144 144 146 Ratios Return on invested capital (%) -8,8% 60,6% -41,0% 18,0% 108,0% Solvency ratio (%) 73,1% 78,8% 75,0% 82,0% 83,0% Return on equity (%) -2,4% 11,2% -9,0% 4,0% 19,0% NIBD/​​​​​EBITDA -5.9 -3.2 0.0 0.0 0.0 The company's primary activities were sale of shoes, shoe articles, textiles and related activities. After several periods in 2020 and 2021 of COVID19 challenges and lockdown of physical stores, the company was impacted in 2022, like most other retail chains, by the war in Ukraine, rising inflation and price developments on several external costs including energy, purchase prices of shoes etc. In the beginning of 2022, Deichmann was also affected by fewer shoe deliveries due to bottleneck issues with suppliers in the world market, which together meant that the company did not get the expected start of the year in terms of sales. In the shopping centers, the customer traffic did not completely recover to 2019 levels, so the company built up a larger stock than usual at the end of the year, due to a lack of sales in the stores. In 2022, the Company continued to invest in renovating and relocating existing stores to better locations to secure its market position in the future. Overall, this means that the company ends with a loss of 1,9 M DKK, which the management considers satisfactory, given the many external factors and the new investments. Deichmann continues its 21st year in the Danish shoe market with an updated product range and the roll-out of the group's vision "The company must serve the people" and a brand new 3.0 store concept with the renovation of existing and opening of new stores for the benefit of customers, employees and partners. With a continued ambition to be the customers' first choice, when buying quality shoes for the whole family and with further investments in digital initiatives and omni-channel activities focusing on more synergy between the physical stores and the online store, the company expects a positive result in 2023 at the level of 2019 result. The company continues to actively work on various environmental measures to reduce CO2 emissions in stores and headquarters. In autumn 2020, the first "Walk with me" reusable shopping bags were introduced, and in 2022 the sales of these reached ~90% of total bag sales, with the goal of reaching 100% during 2023. The Executive Board have today considered and adopted the annual report for 1 January 2022 - 31 December 2022 for Deichmann-Sko ApS. 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 the company's financial position at 31 December 2022 and of the results of its operations and cash flows for the financial year 1 January 2022 - 31 December 2022. We believe that the Management's review contains a fair review of the affairs and conditions referred to therein. We recommend that the annual report be adopted at the Annual General Meeting. To the shareholder in Deichmann-Sko ApS We have audited the financial statements of Deichmann-Sko ApS for the financial year 1 January 2022 - 31 December 2022, which comprise a summary of significant accounting policies, income statement, balance sheet, statement of changes in equity, statement of cash flows and notes. The financial statements are prepared under the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the company's financial position as at 31 December 2022 and of the results of the company's operations and cash flows for the financial year 1 January 2022 - 31 December 2022 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 company in accordance with the International Ethics Standards Board of 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. 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, 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 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 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 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 Financials 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. The annual report has been prepared in accordance with Danish financial statement legislation as well as generally accepted accounting principles. The annual report has been prepared in accordance with the provisions of the Danish Financial Statements Act governing Reporting class C, (medium-sized enterprises).The accounting policies have not been changed from last year. The company has corrected the classification of salary reimbursements, which last year was presented under the item "Staff Costs", where the presentation has been changed and presented under the item "Other operating income". Comparative figures have been restated accordingly. The change has no impact on the profit/loss, balance or equity. As a result of the correction, gross profit has increased by DKK 2,438 thousand, while staff costs have increased by DKK 2,438 thousand. The company has corrected the classification of construction grants, which last year was presented under the item "Fixtures, fittings, tools and equipment", where the presentation has been changed and presented under the item "Other payables". Depreciation has been presented last year under the heading "Depreciation", where the presentation has been changed to "Other operating income". Comparative figures have been restated accordingly. The change had no impact on the result or on equity. As a result of the correction, gross profit has increased by DKK 308 thousand, while depreciation has increased by DKK 308 thousand. In addition, the presentation of building subsidies has been changed, resulting in an increase of fixed assets by thousand DKK 1,341, while other liabilities have increased by thousand DKK 1,341. The financial statements have been prepared based on historical cost.The income is 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.Certain financial assets and liabilities are measured at amortised cost, which involves the recognition of a constant effective interest rate over the maturity period. Amortised cost is calculated as original cost less any repayments and with addition/deduction of the cumulative amortisation of any difference between cost and the nominal amount. In this way, capital losses and gains are allocated over the maturity period.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.The functional currency is Danish Kroner. All other currencies are considered foreign currencies. During the year, transactions in foreign currencies have been translated applying the exchange rate at the transaction date. If currency positions are considered hedge of future cash flows, the value adjustments are recognised directly in equity.Receivables and debt denominated in foreign currencies have been recognised at the exchange rate of the balance sheet date.Realised and unrealised exchange gains and losses have been recognised in the income statement under other financial income and expenses. Gross profit/loss includes "Revenue""Cost of sales""Other operating income""External expenses". As income recognition criterion, the completed contract method is applied so that revenue comprises invoiced revenue for the year. Revenue from the sale of goods for resale is recognised in the income statement when delivery is made and risk has passed to the buyer before the end of the financial year. Revenue is measured at fair value excl. VAT and less granted goods and customer discounts. Other operating income comprises income of a secondary nature as viewed in relation to the company's primary activities. Other operating income relates to profit of fixed assets and payments received from public authorities. Payments received from public authorities consist of salary reimbursements, which are corrected in comparative figures - Therefore a difference arises between other operating income and personnel expenses compared to previous years.During the year we have reclassified construction grants from fixed assets and presented them as other payables. The year's derecognition relating to construction grants is presented as other operating income. Comparative figures have also been restated accordingly. External expenses comprises cost of consumables/goods for resalesale facility cost administrative expenses. Staff costs include wages and salaries including holiday pay and pensions and other social security costs etc. to the company's employees. Staff costs exclude reimbursements received from public authorities. This has been corrected in the comparative figures. Other operating expenses comprises expenses of a secondary nature as viewed in relation to the company's primary activities, including losses on sale of fixed assets. Financial income is recognised with amounts concerning the the financial year. Financial income comprise interest, realised and unrealised exchange gains as well as interest reimbursements under the Danish Tax Prepayment Scheme. Financial expenses is recognised with amounts concerning the the financial year. Financial expenses comprise interest, realised and unrealised exchange losses as well as interest surcharge under the Danish Tax Prepayment Scheme. Tax on profit or loss for the year represents 22% of the book profit or loss adjusted for non-taxable and non-deductible items. Tax on profit or loss for the year consists of the anticipated tax portion of the taxable income for the year adjusted for the changes for the year in deferred tax. Changes in deferred taxes due to adjustments of tax rates is recognised in the income statement. Tax on profit or loss for the year is recognised in the income statement by the portion attributable to the profit or loss for the year and recognised directly in equity by the portion attributable to entries directly in equity. The company is subject to the Danish Tax Prepayment Scheme. Interest reimbursement and interest surcharge have been recognised in financial income and expenses. The balance sheet has been presented in account form. Property, plant and equipment are measured at cost less accumulate depreciation. The basis of depreciation is cost less estimated residual value after the end of useful life. Cost comprises the acquisition price as well as costs directly related to the acquisition until the time when the asset is ready to be put into operation. The costprice for an asset is divided into separate components, that are depreciated separately, if the useful life of the individual components is significantly different. Depreciation is initiated when the assets are ready to be taken into operation. Assets are depreciated on a straight-line basis over their estimated useful lives with following residual values:Category Period Residual value Fixtures, fittings, tools and equipment 5 years 0% Minor purchases with useful lives below one year have been recognised as an expense in the income statement in external expenses.Profit/loss on sale or retirement has been included in the income statement under other operating income and other operating expenses.The carrying amounts of property, plant and equipment are reviewed annually for indication of impairment for losses, apart from what is expressed by usual depreciation. If this applies, impairment for loss is made of each asset or group of assets, respectively, to lower recoverable amount. As recoverable amount, the higher of expected net selling price and net present value is applied. The net present value is calculated as the present value of the expected cash flows from the use of the asset or the group of assets.Impairment for loss for the year is recognised in the income statement as amortisation, depreciation and impairment for loss of property, plant and equipment and intangible assets.During the year we have reclassified construction grants from fixed assets and presented them as other payables. Comparative figures have also been restated accordingly. Deposits recognised as fixed assets are measured at amortised cost, which usually corresponds to nominal amount. Inventories are measured at cost according to the FIFO method. In the event of cost exceeding net realisable value, writedown is made to this lower value. Cost of goods for resale as well as raw materials and consumables comprises purchase price plus landing costs. The net realisable value of inventories is calculated as selling price less completion costs and costs incurred to execute sale. The net realisable value is determined allowing for marketability, obsolescence and development in expected sales price.Received prepayments from customers regarding non delivered goods are recognised as liabilities. 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. Provisions for bad debts are determined on the basis of an individual assessment of each receivable. Prepayments comprise costs incurred relating to subsequent financial years. Dividend distribution proposed by Management for the year is disclosed as a separate equity item. Deferred tax is measured using the balance sheet liability method. Provision has been made for deferred tax by 22% on all temporary differences between carrying amount and tax-based value of assets and liabilities. Deferred tax is also measures with respect of the planned use of the asset and the settlement of the liability. The tax value of the tax losses to be carried forward are included in the calculation of deferred taxes if it is probable that the losses can be used. Deferred tax assets are measured at net realisable value.Deferred tax assets which are not expected utilised within a few years have been disclosed in notes under contingent assets.Corporation tax relating to the the financial year which has not been settled at the balance sheet date is classified as corporation tax in receivables or liabilities other than provisions. Short-term debts are measured at amortised cost, substantially corresponding to nominal value. The cash flow statement shows the years cash flows broken down by operating, investing and financing activities, changes for the year in cash and cash equivalents as wells as cash and cash equivalents at the beginning and end of the year. Cash flows from acquisitions and divestments are shown separately under cash flows from investing activities. In the cash flow statement, cash flows regarding acquired companies are recognised from the date of acquisition and cash flows from divested companies are recognised until the transfer date. Cash flows from operating activities are calculated as the net profit/loss for the year adjusted for non-cash operating items, financial income and expenses paid, corporation taxes as well as increase and decrease in inventories, trade receivables, trade payables and other changes in assets and liabilities other than provisions deriving from operations. Cash flows from investing activities comprise payments in the year in connection with acquisition and sale of fixed assets as well as payments in connection with acquisition and divestment of companies. Cash flows from financing activities comprise payments in the year from inception and repayment of long-term liabilities other than provisions as well as payments made to and received from the shareholder's.Cash and cash equivalents comprise cash funds. Financial highlights are defined and calculated in accordance with the current version of "Recommendations & Ratios" issued by the CFA Society Denmark. Financial highlights are calculated on basis of the financial statements, and no adjustments nor normalisations for analysis purposes have been unless expressed in the section of the financial highlights. The financial highlights are calculated as follows:Financial highlights Explanation Gross margin = Gross profit/loss * 100/Revenue EBIT margin = EBIT * 100/Revenue Return on invested capital = EBIT * 100/Average invested capital* Solvency ratio = Equity * 100/Total assets Return on equity = Profit/loss for the year * 100/Average equity *Invested capital are defined as net working capital with addition of operating intangible assets and Property, plant and equipment and deducted by other provisions. 60050091 70229802 54005981 50959821 6435620 7063124 2139424 57614 -2530934 12149243 285889 201430 364608 305264 -2609653 12045409 -677478 2649991 -1932175 9395418 16524678 14222152 16524678 14222152 8434759 8413182 8434759 8413182 24959437 22635334 31078921 15967084 31078921 15967084 2252180 1389704 9004317 2557866 589459 1849029 1160000 3423182 2910916 2219510 3344727 1936638 19261599 13375929 22857557 60604745 73198077 89947758 98157514 112583092 3449000 3449000 68278579 70210754 0 15000000 71727579 88659754 1341667 650000 1341667 650000 7412410 3314462 487819 1021174 17188039 18937702 25088268 23273338 26429935 23923338 98157514 112583092 15000000 0 STATEMENT OF CHANGES IN EQUITY Contributed capital Retained earnings Proposed dividend recognised in equity Total DKK DKK DKK DKK Equity at 1 January 2021 3,449,000 75,815,336 0 79,264,336 Distributed profit/loss for the year -5,604,582 15,000,000 9,395,418 Equity at 1 January 2022 3,449,000 70,210,754 15,000,000 88,659,754 Dividends paid 0 -15,000,000 -15,000,000 Distributed profit/loss for the year -1,932,175 0 -1,932,175 Equity at 31 December 2022 3,449,000 68,278,579 0 71,727,579 6435620 6863124 -583331 2811440 15111837 -3916481 -862476 -1268805 -4097948 617504 -1206515 1206606 285889 201430 364608 305264 -2263182 3500000 -6978303 8968867 1978360 201365 0 1024139 -16063 1002562 0 -8789079 6979806 0 15000000 0 -21979806 -37747188 60604745 43864116 22857557 22857557 SPECIAL ITEMS 2022 2021 DKK DKK Compensations, national subsidy scheme COVID-19 1,165,924 17,999,388 Salary reimbursements  2,438,659 2,238,540 Grants for fixed assets  165,000 0 Depreciation, building subsidies  308,333 200,000 Total 4,077,916 20,437,928 Special items is included in the income statement in the items "Other operating income". 47643903 44979560 3872411 3848243 1124722 1072791 1364945 1059227 144 144 STAFF COSTS 2022 2021 DKK DKK Wages and salaries 47,643,903 44,979,560 Pensions 3,872,411 3,848,243 Other social security costs 1,124,722 1,072,791 Other staff cost 1,364,945 1,059,227 I alt 54,005,981 50,959,821 Average number of full-time employees 144 144 Remuneration for management categories: Executive Board 3,130,000 2,824,000 DEPRECIATION, AMORTISATION AND IMPAIRMENT LOSSES OF PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS 2022 2021 DKK DKK Depreciation of property, plant and equipment 6,435,620 7,063,124 I alt 6,435,620 7,063,124 127817 102805 158072 98625 FINANCE INCOME 2022 2021 DKK DKK Financial income from group enterprises 127,817 102,805 Other financial income 158,072 98,625 I alt 285,889 201,430 0 4446 364608 300818 FINANCE EXPENSES 2022 2021 DKK DKK Financial expenses to group enterprises 0 4,446 Other financial expenses 364,608 300,818 I alt 364,608 305,264 TAX EXPENSE Corporation tax Deferred tax Tax on profit/loss for the year 2021 DKK DKK DKK DKK Payables at 1 January 2022 -3,423,182 -2,233,438 Paid in respect of previous years 3,423,182 Tax on profit/loss for the year 0 -677,478 -677,478 2,649,991 Prepaid tax -1,160,000 Payables at 31 December 2022 -1,160,000 -2,910,916 Tax on profit/loss for the year recognised in the income statement -677,478 2,649,991 Recognition in balance sheet: Short-term receivables (current asset) -1,160,000 -2,910,916 Total -1,160,000 -2,910,916 Deferred tax is incumbent upon the following assets and liabilities:  31/12‑2022  31/12‑2021 Property, plant and equipment -1,509,731 -1,754,524 Fixed financial assets and current assets -704,108 -290,001 Tax losses carried forward -700,559 -174,985 Deferred tax liability (+)/Deferred tax asset (-) -2,914,398 -2,219,510 Deferred tax assets are measured at net realisable value and is based on management’s best accounting estimate of the use within a period of 3-5 years. In preparing the accounting estimate, management has taken particular account of the cost reductions implemented in the stores, which will have a positive impact on the stores' results and overall earnings. Based on the budgets for the coming years, management considers the use of deferred tax assets to be realistic. -1932175 -5604582 PROPERTY, PLANT AND EQUIPMENT Fixtures, fittings, tools and equipment Total 2021 DKK DKK DKK Cost at 1 January 2022 87,830,363 87,830,363 85,917,961 Additions for the year 8,968,867 8,968,867 1,978,360 Disposals for the year 621,225 621,225 -65,958 Cost at 31 December 2022 97,420,455 97,420,455 87,830,363 Depreciation and impairment losses at 1 January 2022 -73,608,211 -73,608,211 -66,553,430 Depreciation for the year -6,435,620 -6,435,620 -7,063,124 Reversal regarding disposals for the year -851,946 -851,946 8,343 Depreciation and impairment losses at 31 December 2022 -80,895,777 -80,895,777 -73,608,211 Carrying amount at 31 December 2022 16,524,678 16,524,678 14,222,152 Selling price, disposals 201,365 201,365 0 Carrying amount, disposals -230,721 -230,721 -57,615 Profit/loss on sale -29,356 -29,356 -57,615 INVESTMENTS Deposits Total 2021 DKK DKK DKK Cost at 1 January 2022 8,413,182 8,413,182 8,429,244 Additions for the year 1,024,139 1,024,139 28,699 Disposals for the year -1,002,562 -1,002,562 -44,761 Cost at 31 December 2022 8,434,759 8,434,759 8,413,182 Carrying amount at 31 December 2022 8,434,759 8,434,759 8,413,182 PREPAYMENTS 2022 2021 DKK DKK Rent etc. 3,344,727 1,936,638 I alt 3,344,727 1,936,638 CONTRIBUTED CAPITAL 2022 2021 DKK DKK Contributed capital beginning of the year 3,449,000 3,449,000 I alt 3,449,000 3,449,000 ASSETS CHARGED AND COLLATERAL 2022 Nominal value of the collateral/debt DKK The Company has provided a third party guaratee 3,612,425 UNRECOGNISED CONTRACTUAL COMMITMENTS 2022 DKK The company  has made a rent agreement for shop facilities pending the year 2027 and is equally divided during the period. The overall residual rent agreement aggregate approx. 56,956,000 The company has entered into operating lease for lease of copying machine. The lease is interminable until 2024. The total lease commitment represents approx. 75,000 Total rental and lease obligations 57,031,000 RELATED PARTIES Related parties with controlling interest comprise the following:   Controlling interest: Basis of controlling interest: Deichmann Schuhe Service GmbH, Deichmannweg 9, Essen, Nordrhein-Westfalen, 45359, Germany Main shareholder Deichmann SE, Deichmannweg 9, Essen, Nordrhein-Westfalen, 45359, Germany Owner of Deichmann Schuhe Service GmbH with 100% Heinrich Otto Deichmann Owner of Deichmann SE with 69% in accordance with section 98(c)(7) of the Danish Financial Statements Act no related party transactions have been disclosed as management assess all transactions have been carried out on an arm’s length basis. GROUP RELATIONS The company is included in the consolidated report for the parent companies:     The largest group: Deichmann SE, Essen   The consolidated report ofr the foreign parent company may be obtained at the parent company webiste www.bundesanzeiger.dk. -29356 -57615 -285889 -201430 -364608 -305264 -677478 2649991 Grundlag for konklusion Konklusion Regnskabsklasse C, mellemstor virksomhed Årsrapport Revisionspåtegning Mikkel Schiøler Vinum Linck Thomas Christensen Martin Fischer Mikkel Schiøler Vinum Linck mne23408 Sten Pedersen inforevision statsautoriseret revisionsaktieselskab 19263096 mne36161 Michael Dam-Johansen inforevision statsautoriseret revisionsaktieselskab 19263096