42531871 2023-12-31 42531871 2022-12-31 42531871 2023-01-01 fsa:ContributedCapitalMember 42531871 2023-01-01 fsa:RetainedEarningsMember 42531871 2023-12-31 fsa:ContributedCapitalMember 42531871 2023-12-31 fsa:RetainedEarningsMember 42531871 2023-01-01 fsa:PropertyPlantAndEquipmentInProgressMember 42531871 2023-12-31 fsa:PropertyPlantAndEquipmentInProgressMember 42531871 2023-12-31 fsa:LongtermPayablesToGroupEnterprisesMember 42531871 2022-12-31 fsa:LongtermPayablesToGroupEnterprisesMember 42531871 2023-01-01 2023-12-31 42531871 2023-01-01 2023-12-31 1 42531871 2023-01-01 2023-12-31 memberOfBoardIdentifier_executive_board_1 42531871 2023-01-01 2023-12-31 memberOfBoardIdentifier_executive_board_2 42531871 2023-01-01 2023-12-31 memberOfBoardIdentifier_executive_board_3 42531871 2023-01-01 2023-12-31 2 42531871 2021-07-08 2022-12-31 42531871 2023-01-01 2023-12-31 fsa:RetainedEarningsMember 42531871 2021-07-08 2022-12-31 fsa:RetainedEarningsMember 42531871 2023-01-01 2023-12-31 fsa:ContributedCapitalMember 42531871 2023-01-01 2023-12-31 fsa:RetainedEarningsMember 42531871 2023-01-01 2023-12-31 fsa:PropertyPlantAndEquipmentInProgressMember iso4217:DKK pure Årsrapport 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Strandvejen 44 2900 Hellerup 2023-01-01 2021-07-08 2023-12-31 2022-12-31 42531871 Baneby Konsortiet K/S Southamptongade 4 2150 Nordhavn København PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab 33771231 Herredsvej 32 7100 Vejle Denmark 79 21 27 00 Underskriv. revisors e-mail anvendes 2024-05-31 Claus Schei Mathisen Regnskabsklasse B Revisionspåtegning The Executive Board has today considered and adopted the Annual Report of Baneby Konsortiet K/S for the financial year 1 January - 31 December 2023. 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 financial position at 31 December 2023 of the Company and of the results of the Company operations for 2023. We recommend that the Annual Report be adopted at the Annual General Meeting. 2024-05-31 Nordhavn Claus Schei Mathisen Søren Tang Kristensen Jacob Lise Lyngsgaard To the shareholder of Baneby Konsortiet K/S Opinion 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 in accordance with the Danish Financial Statements Act. We have audited the Financial Statements of Baneby Konsortiet K/S for the financial year 1 January - 31 December 2023, which comprise income statement, balance sheet, statement of changes in equity and notes, including a summary of significant accounting policies (”the Financial Statements”). Basis for Opinion We conducted our audit in accordance with International Standards on Auditing (ISAs) and the 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 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 (IESBA Code) and the additional ethical requirements applicable 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. 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, 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 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 contents of the Financial Statements, including the disclosures, 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. Trekantområdet 2024-05-31 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Lars Almskou Ohmeyer State Authorised Public Accountant mne24817 Morten Jacobsen State Authorised Public Accountant mne44140 -1685646 -411755 0 68 3035169 434266 -4720815 -845953 0 0 -4720815 -845953 -4720815 -845953 69408378 27831291 69408378 27831291 69408378 27831291 1875 0 3001 0 8206802 3001 8211678 3001 22663311 3267205 30874989 3270206 100283367 31101497 3001 3001 -5566768 -845953 -5563767 -842952 91964169 26500000 91964169 26500000 13882965 5444449 13882965 5444449 105847134 31944449 100283367 31101497 3001 -845953 0 -4720815 3001 -5566768 The company's key activity is to own and operate properties as well as other business that at the discretion of the Executive Board is connected with this. 3035169 0 0 431497 0 2769 OtherFinanceExpenses 3035169 434266 27831291 41577087 69408378 69408378 91964169 26500000 91964169 26500000 0 0 Payments due within 1 year are recognised in short-term debt. Other debt is recognised in long-term debt. The debt falls due for payment as specified below: Payables to group enterprises 0 0 There are no security and contingent liabilities at 31 December 2023. The Annual Report of Baneby Konsortiet K/S for 2023 has been prepared in accordance with the provisions of the Danish Financial Statements Act applying to enterprises of reporting class B as well as selected rules applying to reporting class C. The accounting policies applied remain unchanged from last year. 1 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. 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. Danish kroner is used as the presentation currency. All other currencies are regarded as foreign currencies. Transactions in foreign currencies are translated at the exchange rates at the dates of transaction. Gains and losses 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. 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. Fixed assets acquired in foreign currencies are measured at the transaction date rates. Other external expenses comprise expenses for premises, sales as well as office expenses, etc. With reference to section 32 of the Danish Financial Statements Act, gross profit/loss is calculated as a summary of revenue and other external expenses. Financial income and expenses are recognised in the income statement at the amounts relating to the financial year. 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. The Company is jointly taxed with . The tax effect of the joint taxation is allocated to Danish enterprises in proportion to their taxable incomes. Property, plant and equipment are measured at cost less accumulated depreciation and less any accumulated impairment losses. Cost comprises the cost of acquisition and expenses directly related to the acquisition up until the time when the asset is ready for use. Interest expenses on loans contracted directly for financing the construction of property, plant and equipment are recognised in cost over the construction period. Depreciation based on cost reduced by any residual value is calculated on a straight-line basis over the expected useful lives of the assets, which are: The fixed assets’ residual values are determined at nil. Depreciation period and residual value are reassessed annually. The carrying amounts of property, plant and equipment and investments are reviewed on an annual basis to determine whether there is any indication of impairment other than that expressed by depreciation. If so, the asset is written down to its lower recoverable amount. 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. Debts are measured at amortised cost, substantially corresponding to nominal value.