42635804 2022-01-01 2022-12-31 42635804 2022-01-01 2022-12-31 1 42635804 2022-01-01 2022-12-31 1 42635804 2022-01-01 2022-12-31 2 42635804 2021-01-01 2021-12-31 42635804 2022-12-31 42635804 2021-12-31 42635804 2021-12-31 fsa:ContributedCapitalMember 42635804 2021-12-31 fsa:RetainedEarningsMember 42635804 2022-01-01 2022-12-31 fsa:ContributedCapitalMember 42635804 2022-01-01 2022-12-31 fsa:RetainedEarningsMember 42635804 2022-12-31 fsa:ContributedCapitalMember 42635804 2022-12-31 fsa:RetainedEarningsMember iso4217:DKK xbrli:pure Klaus Risager AIP II CIV 5 K/S Klareboderne 1 1115 København K 42635804 Copenhagen Primary activities The Company’s main activity is to generate returns on limited partnership capital by making investment in infrastructure assets. Development in activities and finances The income statement of the Company for 2022 shows a profit of DKK 525, and at 31 December 2022 the balance sheet of the Company shows equity of DKK 538,040. The development in the financial year’s activi-ties is as expected. MANAGEMENT’S STATEMENT The Executive Board has today considered and approved the annual report of AIP II CIV 5 K/S 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 financial position at 31 December 2022 of the Company and of the results of the Company operations for the financial year 1 January – 31 De-cember 2022. In my opinion, Management's Review includes a true and fair account of the matters addressed in the Review. I recommend the annual report for adoption at the Annual General Meeting. Copenhagen, Kasper Hansen Opinion In our opinion, the Financial Statements give a true and fair view of the financial position of the Company at 31 December 2022, and of the results of the Company’s operations for the financial year 1 January – 31 De-cember 2022 in accordance with the Danish Financial Statements Act. We have audited the Financial Statements of AIP II CIV 5 K/S for the financial year 1 January – 31 December 2022, which comprise income statement, balance sheet, statement of changes in equity and notes, including a summary of significant accounting policies (“financial statements”). Basis for Opinion We conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional re-quirements 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 Account-ants’ International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical re-quirements 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. Statement on Management’s Review 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 state-ments 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 re-quired under the Danish Financial 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. Management’s Responsibilities for the Financial Statements Management is responsible for the preparation of Financial Statements that give a true and fair view in ac-cordance 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 con-tinue 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 liqui-date the Company or to cease operations, or has no realistic alternative but to do so. Auditor’s Responsibilities for the Audit of the Financial Statements 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, indi-vidually 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 Den-mark, we exercise professional judgment and maintain professional skepticism 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 mis-statement 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 effective-ness of the Company’s internal control.  Evaluate the appropriateness of accounting policies used and the reasonableness of accounting esti-mates and related disclosures made by Management.  Conclude on the appropriateness of Management’s use of the going concern basis of accounting in pre-paring the financial statements and, based on the audit evidence obtained, whether a material uncer-tainty 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 disclo-sures 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 disclo-sures, 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. Hellerup PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab 33771231 Per Rolf Larssen Casper Larsen State Authorised Public Accountant State Authorised Public Accountant mne24822 mne45855 -14063 -12404 8972 4780 -8677 9270 3061 1145 525 -18039 525 -18039 248594 205074 248594 205074 248594 205074 300572 342845 300572 342845 549166 547919 555554 555554 -17514 -18039 538040 537515 11126 10404 11126 10404 11126 10404 549166 547919 555554 -18039 537515 0 525 525 555554 -17514 538040 The Annual Report of AIP II CIV 5 K/S for 2022 has been prepared in accordance with the provisions of the Danish Financial Statements Act applying to enterprises of reporting class B with addition of a few elements The Financial Statements for 2022 are presented in DKK. Recognition and measurement Revenues are recognised in the income statement as earned. Furthermore, value adjustments of financial as-sets 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, amortisa-tion, 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 de-scribed for each item below. Translation policies 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. Receivables, payables and other monetary items in foreign currencies that have not been settled at the bal-ance 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. Income statement Other external expenses Other external expenses comprise expenses for administration expenses, etc. Gross profit/loss Gross profit/loss is calculated with reference to Section 32 of the Danish Financial Statements Act as a sum-mary of other external costs. Income from other investments and receivables classified as non-current assets In the income statement, dividends are recognized from other investments in the financial year in which the dividend is declared. Gains or losses on disposal during the year of investments in associates are also recog-nized in the income statement Other financial expenses Financial expenses are recognised in the income statement at the amounts relating to the financial year and in addition to interest. Tax on profit/loss for the year The company is not taxable independently, which is why the tax liability is incumbent on the company’s inves-tors. As a result, no tax and deferred tax has been set aside in the accounts. Balance sheet Other investments Other investments are recognized and measured at cost. If there is an indication of a need for impairment, an impairment test is performed. Where the carrying amount exceeds the recoverable amount it is written down to this lower value. Cash Cash comprises cash in bank deposits. Other liabilities Other liabilities are measured at amortised cost, substantially corresponding to nominal value. true true 0 0 Note 3: Financial assets (DKK) Other investments: Cost primo 213,7510Additions for the year 52,122232,842Disposals for the year -17,279 -19,092Cost ultimo 248,594213,751Impairments adjustment primo -8,676 0Impairments adjustment in year 8,676 -8,676Impairments adjustment ultimo 0-8,676Financial assets 248,594205,075 Note 4 Contingent assets, liabilities and other financial obligations Escalade The company’s obligation to the Escalade investment is TUSD 5,1 Mallard The company’s obligation to the ATE investment is TGBP 0,3 Dante The company’s obligation to the Dante investment is TGBP 0,1 XLT The company’s obligation to the XLT investment is TGBP 0,1 Porter The company’s obligation to the Porter investment is TEUR 2,7 Pref NE The company’s obligation to the Pref NE investment is TEUR 9,2 Pref SE The company’s obligation to the Pref SE investment is TEUR 2,9 Annual report Auditor's report on audited financial statements ParsePort XBRL Converter 2022-01-01 2022-12-31 2021-01-01 2021-12-31 2023-06-16 Reporting class B 2020-08-30 2023-06-16 42635804 AIP II CIV 5 K/S Klareboderne 1 1115 København K Opinion Basis for Opinion 2023-06-16 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab