4The executive board has today discussed and approved the annual report of No Boundaries Holding ApS for the financial year 1 January - 31 December 2022.The annual report is prepared in accordance with the Danish Financial Statements Act.In my opinion, the financial statements give a true and fair view of the company's financial position at 31 December 2022 and of the results of the company's operations for the financial year 1 January - 31 December 2022.In my opinion, management's review includes a fair review of the matters dealt with in the management's review.The financial statements have not been audited. Management considers the criteria for not auditing the financial statements to be met.Management recommends that the annual report should be approved by the company in general meeting.Werner GeyserTo the shareholder of No Boundaries Holding ApSWe have compiled the financial statements of No Boundaries Holding ApS for the financial year 1 January - 31 December 2022 based on the company's bookkeeping records and other information made available by enterprise. The financial statements comprises a summary of significant accounting policies, income statement, balance sheet, statement of changes in equity and notes. We performed the engagement in accordance with ISRS 4410, Compilation Engagements. We have applied our professional expertise to assist the enterprise in the preparation and presentation of the financial statements in accordance with the Danish Financial Statements Act. We complied with the relevant provisions of the Danish Act on Approved Auditors and with the International Ethics Standards Board for Accountants' Code of Ethics for Professional Accountants (IESBA Code), including principles relating to integrity, objectivity, professional competence and due care. The financial statements and the accuracy and completeness of the information used to compile the financial statements are the enterprise´s responsibility. As a compilation engagement is not an assurance engagement, we are not required to verify the accuracy or completeness of the information provided by enterprise for our compilation of the financial statements. Accordingly, we do not express an audit or a review conclusion on whether the financial statements have been prepared in accordance with the Danish Financial Statements Act.Roskilde2023-07-06Trekroner Revision A/SLinnea WeinreichState Authorised Public Accountantmne31382Business review The purpose of the company is investments in subsidaries.Unusual matters The company's financial position at 31 December 2022 and the results of its operations for the financial year ended 31 December 2022 are not affected by any unusual matters.Financial review The company's income statement for the year ended 31 December 2022 shows a profit of DKK 1.783.750, and the balance sheet at 31 December 2022 shows equity of DKK 96.118.736.The annual report of No Boundaries Holding ApS for 2022 has been prepared in accordance with the provisions of the Danish Financial Statements Act applying to enterprises of reporting class B, as well as provisions applying to reporting class C entities. The accounting policies applied are consistent with those of last year. The annual report for 2022 is presented in DKKPursuant to sections §110 subsection 1, of the Danish Financial Statements Act, the company has not prepared consolidated financial statements.Income is recognised in the income statement as earned, including value adjustments of financial assets and liabilities. All expenses, including amortisation, depreciation and impairment losses, are also recognised in the income statement. Assets are recognised in the balance sheet when it is probable that future economic benefits 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 from the company and the value of the liability can be measured reliably. On initial recognition, assets and liabilities are measured at cost. On subsequent recognition, assets and liabilities are measured as described below for each individual accounting item. Certain financial assets and liabilities are measured at amortised cost using the effective interest method. Amortised cost is calculated as the historic cost less any installments and plus/less the accumulated amortisation of the difference between the cost and the nominal amount. On recognition and measurement, allowance is made for predictable losses and risks which occur before the annual report is presented and which confirm or invalidate matters existing at the balance sheet date.In pursuance of section 32 of the Danish Financial Statements Act, the company does not disclose its revenue. Gross profit reflects other external expenses.Other external costs include expenses related to administration.Financial income and expenses are recognised in the income statement at the amounts that relate to the financial year. Net financials include interest income and expenses and liabilities and surcharges and allowances under the Danish Tax Prepayment Scheme, etc.Dividend from investments is recognised in the reporting year in which the dividend is declared. Dividend from participating interests is recognised in the financial year in which the dividend is declared.Tax for the year, which comprises the current tax charge for the year and changes in the deferred tax charge, is recognised in the income statement as regards the portion that relates to the profit/loss for the year and directly in equity as regards the portion that relates to entries directly in equity.Investment in subsidiaries, associates and participating interests are measured at cost. If cost exceeds the recoverable amount, a write-down is made to this lower value.Receivables are measured at amortised cost.Securities and investments, which consist of listed shares and bonds, are measured at fair value at the balance sheet date. Non-listed securities are measured at fair value on the basis of the estimated value in use.Cash and cash equivalents comprise cash and deposits at banks.Dividends Proposed dividends are disclosed as a separate item under equity. Dividends are recognised as a liability when declared by the annual general meeting of shareholders.As management company, No Boundaries Holding ApS is liable for payment of the subsidiaries' corporate income taxes to the tax authorities. Current tax liabilities and current tax receivables are recognised in the balance sheet as the estimated tax on the taxable income for the year, adjusted for tax on the taxable income for previous years and tax paid on account. Joint taxation contributions payable and receivable are recognised in the balance sheet as 'Joint taxation contributions receivable' or 'Joint taxation contributions payable'.Liabilities, which include trade payables, payables to group entities and other payables, are measured at amortised cost, which is usually equivalent to nominal value.-41194-4347009700000253501586491326710139125417178368296022439-68-327041783750960551431178001144000410000016659509184074319888992003167198889920031671988899200316719800868035043000100003442023315168344203160600031606000316060003160600040283185608332439520435392473663971932529447683040000400009596093694294986117800114400961187369444938601716017162180024675171601051000105310745162572810745162744497193252944768304000094294986114400-11440016659501178004000095960936117800-6800-32704The parent company is jointly taxed with its danish group entities. The entities are jointly and severally liable for danish income taxes as well as withholding taxes on dividends, interest and royalties payable by the group of jointly taxed entities.Årsrapport28991355Trekroner Revision A/SUniversitetsparken 24000 Roskilde2022-01-012022-12-312019-01-012019-12-3140729097No Boundaries Holding ApSFlæsketorvet681711København VDKDanmark2019-06-26KøbenhavnTrekroner Revision A/S28991355Linnea WeinreichState Authorised Public AccountantUniversitetsparken24000RoskildeDKDanmark2023-07-06Werner GeyserRegnskabsklasse BtrueAndre erklæringer uden sikkerhedCaseWare-FSR407290972022-01-012022-12-31407290972022-01-012022-12-311407290972019-01-012019-12-31407290972022-01-012022-12-31h:ProposedDividendRecognisedInEquityMember407290972019-01-012019-12-31h:ProposedDividendRecognisedInEquityMember407290972022-01-012022-12-31h:ProposedExtraordinaryDividendRecognisedInEquityMember407290972019-01-012019-12-31h:ProposedExtraordinaryDividendRecognisedInEquityMember407290972022-01-012022-12-31h:RetainedEarningsMember407290972019-01-012019-12-31h:RetainedEarningsMember407290972019-12-31407290972022-12-31407290972022-01-012022-12-311407290972022-01-01h:ContributedCapitalMember407290972022-12-31h:ContributedCapitalMember407290972022-01-01h:RetainedEarningsMember407290972022-01-012022-12-31h:RetainedEarningsMember407290972022-12-31h:RetainedEarningsMember407290972022-01-01h:ProposedDividendRecognisedInEquityMember407290972022-01-012022-12-31h:ProposedDividendRecognisedInEquityMember407290972022-12-31h:ProposedDividendRecognisedInEquityMemberiso4217:DKKxbrli:pure