41819863 2023-01-01 2023-12-31 41819863 2023-01-01 2023-12-31 0 41819863 2023-01-01 2023-12-31 1 41819863 2023-01-01 2023-12-31 2 41819863 2023-01-01 2023-12-31 3 41819863 2022-01-01 2022-12-31 41819863 2023-12-31 41819863 2022-12-31 41819863 2023-01-01 fsa:ContributedCapitalMember 41819863 2023-01-01 fsa:RetainedEarningsMember 41819863 2023-01-01 41819863 2023-01-01 2023-12-31 fsa:ContributedCapitalMember 41819863 2023-01-01 2023-12-31 fsa:RetainedEarningsMember 41819863 2023-12-31 fsa:ContributedCapitalMember 41819863 2023-12-31 fsa:RetainedEarningsMember iso4217:EUR Annual report 2024-06-28 Nikolaj Holtet Hoff NS Global V ApS Strandvejen 104B 2900 Hellerup 41819863 2023-01-01 2023-12-31 <p xmlns="http://www.w3.org/1999/xhtml">The Executive Board has today considered and adopted the Annual Report of NS Global V ApS for the financial year 01 January 2023 - 31 December 2023.</p> <p xmlns="http://www.w3.org/1999/xhtml"> <br/> The Annual Report is prepared in accordance with the Danish Financial Statements Act.</p> <p xmlns="http://www.w3.org/1999/xhtml"> <br/> In our opinion the Financial Statements give a true and fair view of the financial position at 31 December 2023 of the Company and of the results of the Company operations for 2023.</p> <p xmlns="http://www.w3.org/1999/xhtml"> <br/> In our opinion, Management's Review includes a true and fair account of the matters addressed in the Review.</p> <p xmlns="http://www.w3.org/1999/xhtml"> <br/> We recommend that the Annual Report be adopted at the Annual General Meeting.</p> Management considers the conditions for opting out of audit to be met. Hellerup 2024-06-28 Holger Emil Bang Anders Søgaard-Jensen Nikolaj Holtet Hoff Tim Janusch Gadatsch <p xmlns="http://www.w3.org/1999/xhtml"> <strong>Key activities</strong></p> <p xmlns="http://www.w3.org/1999/xhtml"> <br/> The Company's key activities are to invest in solar energy enterprises and/or to operate in solar and related businesses.</p> <p xmlns="http://www.w3.org/1999/xhtml"> <br/> <strong>Development in the year</strong></p> <p xmlns="http://www.w3.org/1999/xhtml"> <br/> The income statement of the Company for 2023 shows a loss of EUR 219,729, and at 31 December 2023 the balance sheet of the Company shows negative equity of EUR 392,021.</p> <p xmlns="http://www.w3.org/1999/xhtml"> <br/> <strong>Capital resources</strong></p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml">At 31 December 2023 the company lost the equity. Management believes that the equity can be reestablished by the normal operation the coming years. Management is aware of the legislation in Selskabslovens §119 (the Danish Company Act §119) of capital losses. Based on this, the Annual Report has been prepared on a going concern basis.</p> <p xmlns="http://www.w3.org/1999/xhtml"> <br/> <strong>Subsequent events</strong></p> <p xmlns="http://www.w3.org/1999/xhtml"> <br/> No events materially affecting the assessment of the Annual Report have occurred after the balance sheet date.</p> The annual report has been prepared in accordance with the regulation applying to Reporting class B. Reporting class B <p xmlns="http://www.w3.org/1999/xhtml">There have been options of certain rules in reporting class C.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml">The accounting policies applied remain unchanged from last year.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml">The Financial Statements for 2023 are presented in EUR.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml"> <strong>Consolidated financial statements</strong></p> <p xmlns="http://www.w3.org/1999/xhtml"> <br/> With reference to section 112 of the Danish Financial Statements Act, no consolidated financial statements are prepared.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml"> <strong>Recognition and measurement</strong></p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml">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.</p> <p xmlns="http://www.w3.org/1999/xhtml"> <br/> 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.</p> <p xmlns="http://www.w3.org/1999/xhtml"> <br/> 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.</p> <p xmlns="http://www.w3.org/1999/xhtml"> <br/> Assets and liabilities are initially measured at cost. Subsequently, assets and liabilities are measured as described for each item below.</p> <p xmlns="http://www.w3.org/1999/xhtml"> <br/> 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.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml"> <strong>Translation policies</strong></p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml">EUR is used as the presentation currency. All other currencies are regarded as foreign currencies.</p> <p xmlns="http://www.w3.org/1999/xhtml"> <br/> 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. Where foreign exchange transactions are considered hedging of future cash flows, the value adjustments are recognised directly in equity.</p> <p xmlns="http://www.w3.org/1999/xhtml"> <br/> 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.</p> <p xmlns="http://www.w3.org/1999/xhtml"> <br/> Fixed assets acquired in foreign currencies are measured at the transaction date rates.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml"> <strong>Income Statement</strong></p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml"> <strong>Gross profit</strong></p> <p xmlns="http://www.w3.org/1999/xhtml"> <br/> With reference to section 32 of the Danish Financial Statements Act, gross profit/loss comprises revenue and other external expenses.</p> <p xmlns="http://www.w3.org/1999/xhtml"> <br/> <strong>Other external expenses</strong></p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml">Other external expenses comprise administration.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml"> <strong>Income from investments in group enterprises</strong></p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml">The item "Income from participations in associated enterprises" in the income statement includes: The proportionate share of the individual subsidiaries' profit after tax is recognised in the consolidated and parent company's income statement, after elimination of the proportionate shares of intra-group gains/losses and amortisation of goodwill.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml"> <strong>Financial income and expenses</strong></p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml">Financial income and expenses are recognised in the income statement at the amounts relating to the financial year.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml"> <strong>Tax on profit/loss for the year</strong></p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml">Tax for the year consists of current tax for the year and changes in deferred tax for the year. The tax attributable to the profit for the year is recognised in the income statement, whereas the tax attributable to equity transactions is recognised directly in equity.</p> <p xmlns="http://www.w3.org/1999/xhtml"> <br/> The Company is jointly taxed with the Parent Company and its Danish subsidiaries. The tax effect of the joint taxation is allocated to Danish enterprises in proportion to their taxable incomes.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml"> <strong>Balance Sheet</strong></p> <p xmlns="http://www.w3.org/1999/xhtml"> <br/> <strong>Investments in group enterprises</strong></p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml">Investments in subsidiaries are recognised and measured under the equity method.</p> <p xmlns="http://www.w3.org/1999/xhtml"> <br/> The item“Investments in group enterprises” in the balance sheet include the proportionate ownership share of the net asset value of the enterprises calculated on the basis of the fair values of identifiable net assets at the time of acquisition with deduction or addition of unrealised intercompany profits or losses.</p> <p xmlns="http://www.w3.org/1999/xhtml"> <br/> The total net revaluation of investments in subsidiaries is transferred upon distribution of profit to “Reserve for net revaluation under the equity method“ under equity. The reserve is reduced by dividend distributed to the Parent Company and adjusted for other equity movements in the subsidiaries.</p> <p xmlns="http://www.w3.org/1999/xhtml"> <br/> Subsidiaries with a negative net asset value are recognised at EUR 0. Any legal or constructive obligation of the Parent Company to cover the negative balance of the enterprise is recognised in provisions.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml"> <strong>Receivables</strong> <br/>  </p> <p xmlns="http://www.w3.org/1999/xhtml">Receivables are measured at amortised cost, which usually corresponds to face value. In order to meet expected losses, they are written down for impariment to the net realisable value.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml"> <strong>Deferred tax assets and liabilities</strong></p> <p xmlns="http://www.w3.org/1999/xhtml"> <br/> Deferred income tax is measured using the balance sheet liability method in respect of temporary differences arising between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes on the basis of the intended use of the asset and settlement of the liability, respectively.</p> <p xmlns="http://www.w3.org/1999/xhtml"> <br/> 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 within the same legal tax entity.</p> <p xmlns="http://www.w3.org/1999/xhtml"> <br/> 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. Any changes in deferred tax due to changes to tax rates are recognised in the income statement or in equity if the deferred tax relates to items recognised in equity.</p> <p xmlns="http://www.w3.org/1999/xhtml"> </p> <p xmlns="http://www.w3.org/1999/xhtml"> <strong>Financial debts</strong></p> <p xmlns="http://www.w3.org/1999/xhtml"> <br/> Debts are measured at amortised cost, substantially corresponding to nominal value.</p> 0 0 -12210 -11354 -136112 -81937 69883 42903 165045 134382 -243484 -184770 -23755 22402 -219729 -162369 -219729 -162369 -219729 -162369 2144765 2280876 1928715 1642531 4073480 3923407 4073480 3923407 23755 23065 23755 23065 87 13425 23842 36490 4097322 3959897 5368 5368 -397389 -177660 -392021 -172292 4478928 3799137 4478928 3799137 0 3362 10415 329690 10415 333052 4489343 4132189 4097322 3959897 5368 -177660 -172292 0 -219729 -219729 5368 -397389 -392021 <table xmlns="http://www.w3.org/1999/xhtml" style="border-collapse: collapse;border: 0;width: 650.0px;"> <thead> <tr> <th style="border: 0;width: 60.0%;"> </th> <th style="border: 0;font-weight: bold;text-align: right;width: 25.0%;">2023</th> <th style="border: 0;font-weight: bold;text-align: right;width: 15.0%;">2022</th> </tr> <tr> <th> </th> <th style="border-bottom: 1.0px solid;padding-bottom: 10.0px;text-align: right;">EUR</th> <th style="border-bottom: 1.0px solid;padding-bottom: 10.0px;text-align: right;">EUR</th> </tr> </thead> <tbody> <tr> <td> <p>Interest income group enterprises </p> <p>Other financial income</p> </td> <td style="text-align: right;"> <p>68,747</p> <p>1,135</p> </td> <td style="text-align: right;"> <p>42,531</p> <p>372</p> </td> </tr> <tr> <td> </td> <td style="border-bottom: 2.0px solid;border-top: 2.0px solid;text-align: right;">69,883</td> <td style="border-bottom: 2.0px solid;border-top: 2.0px solid;text-align: right;">42,903</td> </tr> </tbody> </table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-collapse: collapse;border: 0;width: 650.0px;"> <thead> <tr> <th style="border: 0;width: 60.0%;"> </th> <th style="border: 0;font-weight: bold;text-align: right;width: 25.0%;">2023</th> <th style="border: 0;font-weight: bold;text-align: right;width: 15.0%;">2022</th> </tr> <tr> <th> </th> <th style="border-bottom: 1.0px solid;padding-bottom: 10.0px;text-align: right;">EUR</th> <th style="border-bottom: 1.0px solid;padding-bottom: 10.0px;text-align: right;">EUR</th> </tr> </thead> <tbody> <tr> <td> <p>Interest paid to group enterprises </p> <p>Other financial expenses</p> </td> <td style="text-align: right;"> <p>163,906</p> <p>1,139</p> </td> <td style="text-align: right;"> <p>133,437</p> <p>946</p> </td> </tr> <tr> <td> </td> <td style="border-bottom: 2.0px solid;border-top: 2.0px solid;text-align: right;">165,045</td> <td style="border-bottom: 2.0px solid;border-top: 2.0px solid;text-align: right;">134,382</td> </tr> </tbody> </table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-bottom: 0.0px;border-collapse: collapse;border-left: 0.0px;border-right: 0.0px;border-top: 0.0px;width: 650.0px;"> <tbody> <tr> <th style="border-bottom: 0.0px;border-left: 0.0px;border-right: 0.0px;border-top: 0.0px;width: 60.0%;"> </th> <th style="border-bottom: 0.0px;border-left: 0.0px;border-right: 0.0px;border-top: 0.0px;font-weight: bold;text-align: right;width: 25.0%;">2023</th> <th style="border-bottom: 0.0px;border-left: 0.0px;border-right: 0.0px;border-top: 0.0px;font-weight: bold;text-align: right;width: 15.0%;">2022</th> </tr> <tr> <th> </th> <th style="border-bottom: 1.0px solid;padding-bottom: 10.0px;text-align: right;">EUR</th> <th style="border-bottom: 1.0px solid;padding-bottom: 10.0px;text-align: right;">EUR</th> </tr> <tr> <td> <p>Current tax for the year</p> <p>Changes in deferred tax prior years</p> </td> <td style="text-align: right;"> <p>23,619</p> <p>136</p> </td> <td style="text-align: right;"> <p>22,623</p> <p>-222</p> </td> </tr> <tr> <td> </td> <td style="border-bottom: 2.0px solid;border-top: 2.0px solid;text-align: right;">23,755</td> <td style="border-bottom: 2.0px solid;border-top: 2.0px solid;text-align: right;">22,402</td> </tr> </tbody> </table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-bottom: 0.0pt;border-collapse: collapse;border-left: 0.0pt;border-right: 0.0pt;border-top: 0.0pt;width: 650.0px;"> <tbody> <tr> <th style="border-bottom: 0.0pt;border-left: 0.0pt;border-right: 0.0pt;border-top: 0.0pt;width: 40.0%;"> </th> <th style="border-bottom: 0.0pt;border-left: 0.0pt;border-right: 0.0pt;border-top: 0.0pt;font-weight: bold;text-align: right;width: 15.0%;">Total debt, end of year</th> <th style="border-bottom: 0.0pt;border-left: 0.0pt;border-right: 0.0pt;border-top: 0.0pt;font-weight: bold;text-align: right;width: 15.0%;">Repayments, next year</th> <th style="border-bottom: 0.0pt;border-left: 0.0pt;border-right: 0.0pt;border-top: 0.0pt;font-weight: bold;text-align: right;width: 15.0%;">Longterm share</th> <th style="border-bottom: 0.0pt;border-left: 0.0pt;border-right: 0.0pt;border-top: 0.0pt;font-weight: bold;text-align: right;width: 15.0%;">Outstanding debt after 5 years</th> </tr> <tr> <th style="border-bottom: 0.0pt;border-left: 0.0pt;border-right: 0.0pt;border-top: 0.0pt;width: 40.0%;"> </th> <th style="border-bottom: 0.0pt;border-left: 0.0pt;border-right: 0.0pt;border-top: 0.0pt;font-weight: bold;text-align: right;width: 15.0%;">EUR</th> <th style="border-bottom: 0.0pt;border-left: 0.0pt;border-right: 0.0pt;border-top: 0.0pt;font-weight: bold;text-align: right;width: 15.0%;">EUR</th> <th style="border-bottom: 0.0pt;border-left: 0.0pt;border-right: 0.0pt;border-top: 0.0pt;font-weight: bold;text-align: right;width: 15.0%;">EUR</th> <th style="border-bottom: 0.0pt;border-left: 0.0pt;border-right: 0.0pt;border-top: 0.0pt;font-weight: bold;text-align: right;width: 15.0%;">EUR</th> </tr> <tr> <td>Payables to group enterprises</td> <td style="text-align: right;">4,478,928</td> <td style="text-align: right;">0</td> <td style="text-align: right;">4,478,928</td> <td style="text-align: right;">4,478,928</td> </tr> <tr> <td> </td> <td style="border-bottom: 2.0px solid;border-top: 2.0px solid;font-weight: bold;text-align: right;">4,478,928</td> <td style="border-bottom: 2.0px solid;border-top: 2.0px solid;font-weight: bold;text-align: right;">0</td> <td style="border-bottom: 2.0px solid;border-top: 2.0px solid;font-weight: bold;text-align: right;">4,478,928</td> <td style="border-bottom: 2.0px solid;border-top: 2.0px solid;font-weight: bold;text-align: right;">4,478,928</td> </tr> </tbody> </table> <p xmlns="http://www.w3.org/1999/xhtml">The entity invests in solar projects. The management expectation is that the projects will finance the company. Management believes that the equity can be restored by the normal operation the coming years.</p> <p xmlns="http://www.w3.org/1999/xhtml">The Danish group companies are jointly and severally liable for tax on the jointly taxed incomes etc of the Group. The total amount of corporation tax payable is disclosed in the Annual Report of Nordic Solar A/S, which is the management company of the joint taxation purposes. Moreover, the Danish group companies are jointly and severally liable for Danish withholding taxes by way of dividend tax, tax on royalty payments and tax on unearned income. Any subsequent adjustments of corporation taxes and withholding taxes may increase the Company’s liability.</p> <h3 xmlns="http://www.w3.org/1999/xhtml">Related parties</h3> <p xmlns="http://www.w3.org/1999/xhtml">The Company is included in the Group Annual Report for the Parent Company: <br/> Nordic Solar A/S, Strandvejen 104B, 2900 Hellerup</p> <p xmlns="http://www.w3.org/1999/xhtml"> <br/> The Group Annual Report of Nordic Solar A/S may be obtained at the address mentioned above.</p> <table xmlns="http://www.w3.org/1999/xhtml" class="incomeStatement" style="border:0; margin-bottom: 20px;"> <thead> <tr class="header1"> <th class="col1"/> <th class="col2"/> <th class="col3">2023</th> </tr> </thead> <tbody> <tr> <td class="col1 dotted"> <span> Average number of employees </span> </td> <td class="col2"> </td> <td class="col3"> 0 </td> <td class="col4 lastyear"> </td> </tr> </tbody> </table> 0 false false false true Erhvervsstyrelsen Regnskab Basis 2022-12-31 2022-01-01 No audit assistance Nordic Solar A/S Strandvejen 104B 2900 Hellerup