Årsrapport 30700228 EY Godkendt Revisionspartnerselskab Cortex Park Vest 3 5230 Odense M 2023-01-01 2023-12-31 2022-01-01 2022-12-31 39065266 Kara Connect ApS Store Kongensgade 65 A, 1. 1264 København K 2017-11-06 København EY Godkendt Revisionspartnerselskab 30700228 Cortex Park Vest 3 5230 Odense M 2024-06-17 Thorbjôrg Helga Vigfúsdóttir Regnskabsklasse B Andre erklæringer uden sikkerhed true true 2024-06-17 2024-06-17 CaseWare Working Papers Copenhagen Thorbjôrg Helga Vigfúsdóttir Halldór Bjarkar Lúövigsson Chairman Patrick Guy F. de Muynck Odense Morten Schougaard Sørensen State Authorised Public Accountant mne32129 -2478 151039 1651 0 247166 47174 -247993 103865 0 17539 -247993 86326 -247993 86326 9872353 714394 9872353 714394 9872353 714394 40000 40000 0 160000 -25807 62186 14193 262186 9839682 434669 0 17539 18478 0 9858160 452208 9858160 452208 9872353 714394 40000 160000 -24140 86326 40000 160000 62186 0 -160000 160000 -247993 40000 0 -25807 0 17539 Today, the Board of Directors and the Executive Board have discussed and approved the annual report of Kara Connect ApS for the financial year 1 January - 31 December 2023. The annual report, which has not been audited, has been prepared in accordance with the provisions of the Danish Financial Statements Act. The Board of Directors and the Executive Board have considered the criteria for omission of audit to be met. In our opinion, the financial statements give a true and fair view of the financial position of the Company at 31 December 2023 and of the results of the Company's operations for the financial year 1 January - 31 December 2023. Further, in our opinion, the Management's review gives a fair review of the matters discussed in the Management's review. We recommend that the annual report be approved at the annual general meeting. To the general management of Kara Connect ApS We have compiled the financial statements of Kara Connect ApS for the financial year 1 January - 31 December 2023 based on the Company's bookkeeping and other information provided. The financial statements comprise an income statement, balance sheet, statement of changes in equity and notes, including accounting policies. We performed this compilation engagement in accordance with ISRS 4410 Compilation Engagements. We have applied our expertise in accounting and financial reporting to assist you in the preparation and presentation of the financial statements in accordance with the Danish Financial Statements Act. We have complied with relevant requirements in the Danish Auditors Act and International Ethics Standards Board for Professional Accountants' International Code of Ethics for Professional Accountants (IESBA Code), including principles of 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 your responsibility. Since a compilation engagement is not an assurance engagement, we are not required to verify the accuracy or completeness of the information you provided to us to compile the financial statements. Accordingly, we do not express an audit opinion or a review conclusion on whether the financial statements are prepared in accordance with the Danish Financial Statements Act. The company's purpose is to market and sell a functional IT platform named Kara, which provides access to a wide range of therapeutic help, support or expertise. The income statement for 2023 shows a loss of DKK 247,993 against a profit of DKK 86,326 last year, and the balance sheet at 31 December 2023 shows equity of DKK 14,193. The company has lost more than 50% of the share capital. It is expected that capital will be regained in 2024 through future earnings. The company is financed by loans from the parent company. No events materially affecting the Company's financial position have occurred subsequent to the financial year-end. The annual report of Kara Connect ApS for 2023 has been prepared in accordance with the provisions in the Danish Financial Statements Act applying to reporting class B entities and elective choice of certain provisions applying to reporting class C entities. The accounting policies used in the preparation of the financial statements are consistent with those of last year. Reporting currency The financial statements are presented in Danish kroner (DKK). On initial recognition, transactions denominated in foreign currencies are translated at the exchange rate at the transaction date. Foreign exchange differences arising between the exchange rates at the transaction date and the date of payment are recognised in the income statement as financial income or financial expenses. Receivables and payables and other monetary items denominated in foreign currencies are translated at the exchange rate at the balance sheet date. The difference between the exchange rates at the balance sheet date and the date at which the receivable or payable arose or was recognised in the most recent financial statements is recognised in the income statement as financial income or financial expenses. The items revenue, other operating income and external expenses have been aggregated into one item in the income statement called gross profit/loss in accordance with section 32 of the Danish Financial Statements Act. Other operating income comprise items of a secondary nature relative to the Company's core activities, including gains on the sale of fixed assets. Other external expenses include the year's expenses relating to the Company's core activities, including expenses relating to distribution, sale, advertising, administration, premises, bad debts, payments under operating leases, etc. Financial expenses are recognised in the income statements at the amounts that concern the financial year. Net financials include interest expenses as well as allowances and surcharges under the advance-payment-of-tax scheme, etc. Tax for the year includes current tax on the year's expected taxable income and the year's deferred tax adjustments. The portion of the tax for the year that relates to the profit/loss for the year is recognised in the income statement, whereas the portion that relates to transactions taken to equity is recognised in equity. Receivables are measured at amortised cost. Current tax payables and receivables are recognised in the balance sheet as the estimated income tax charge for the year, adjusted for prior-year taxes and tax paid on account. Deferred tax is measured according to the liability method on all temporary differences between the carrying amount and the tax base of assets and liabilities. However, deferred tax is not recognised on temporary differences relating to goodwill which is not deductible for tax purposes and on office premises and other items where temporary differences, apart from business combinations, arise at the date of acquisition without affecting either profit/loss for the year or taxable income. Where alternative tax rules can be applied to determine the tax base, deferred tax is measured based on Management's intended use of the asset or settlement of the liability, respectively. Deferred tax is measured according to the tax rules and at the tax rates applicable at the balance sheet date when the deferred tax is expected to crystallise as current tax. Deferred tax assets are recognised at the expected value of their utilisation; either as a set-off against tax on future income or as a set-off against deferred tax liabilities in the same legal tax entity. Changes in deferred tax due to changes in the tax rate are recognised in the income statement. Other payables Other payables are measured at net realisable value. The company has lost more than 50% of the share capital. It is expected that capital will be regained in 2024 through future earnings. The company is financed by loans from the parent company. The Company has no employees. The Company has no contractual obligations or contingencies at 31 December 2023. The Company has not provided any security or other collateral in assets at 31 December 2023. 39065266 2023-01-01 2023-12-31 39065266 2022-01-01 2022-12-31 39065266 2022-12-31 39065266 2023-12-31 39065266 2023-01-01 2023-12-31 1 39065266 2023-01-01 2023-12-31 2 39065266 2023-01-01 2023-12-31 1 39065266 2023-01-01 2023-12-31 1 39065266 2022-01-01 e:ContributedCapitalMember 39065266 2023-01-01 e:ContributedCapitalMember 39065266 2023-01-01 2023-12-31 e:ContributedCapitalMember 39065266 2023-12-31 e:ContributedCapitalMember 39065266 2023-01-01 e:SharePremiumMember 39065266 2023-01-01 2023-12-31 e:SharePremiumMember 39065266 2023-12-31 e:SharePremiumMember 39065266 2022-01-01 e:SharePremiumMember 39065266 2023-01-01 e:RetainedEarningsMember 39065266 2023-01-01 2023-12-31 e:RetainedEarningsMember 39065266 2023-12-31 e:RetainedEarningsMember 39065266 2022-01-01 e:RetainedEarningsMember 39065266 2022-01-01 2022-12-31 e:RetainedEarningsMember iso4217:DKK