Årsrapport33771231PricewaterhouseCoopers Statsautoriseret RevisionspartnerselskabStrandvejen 442900 Hellerup2022-01-012021-01-012022-12-312021-12-3142750158Sense Solutions ApSIndustriparken352750Ballerup2021-09-30BallerupPricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab33771231Strandvejen442900HellerupDanmark2023-05-26Søren FæsterRegnskabsklasse B1RevisionspåtegningThe Executive Board and Board of Directors have today considered and adopted the Annual Report of Sense Solutions ApS for the financial year 1 January - 31 December 2022.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 2022 of the Company and of the results of the Company operations for 2022.We recommend that the Annual Report be adopted at the Annual General Meeting.Ballerup2023-05-26Michael MeisterCEORasmus Forup HelmichChairmanMichael MeisterSøren FæsterFrank Max LaursenTo the Shareholder of Sense Solutions ApSOpinionIn 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 December 2022 in accordance with the Danish Financial Statements Act. We have audited the Financial Statements of Sense Solutions ApS 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 (”the Financial Statements”). Basis for OpinionWe 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. Hellerup2023-05-26Hellerup2023-05-26PricewaterhouseCoopers Statsautoriseret RevisionspartnerselskabBo Schou-JacobsenState Authorised Public Accountantmne28703Michael KrathState Authorised Public Accountantmne34155-87657-34967165051229670542460-1742415-33167220770800050-1820343-331672-400116-72968-1420227-258704-1420227-258704427124042712409654139009654139004367781390015140023969266624439918276026075335508481137725898803961140728114168157750612806840000400004000040000-1678931-258704-1638931-2187042124305821243058600465070030833241640007094312901432143133437143214313343714157750612806840000-258704-142022740000-1678931The Company has received a letter of support from the Parent Company, DK Infrastructure Bidco ApS, stating that DK Infrastructure Bidco ApS will support the Company to the extent necessary for the financial year 2023 and until March 2024. It is the assessment of the Board of Directors and Executive Board that the Company, because of the above, has sufficient capital resources to continue its operations. Management therefore submits the Annual Report on the assumption of going concern.The Company's purpose is to run a business by developing IoT technological solutions and / or products for the industry as well as related activities.11957952496214411534567310742113628222751650512296705224246042460773850196006490110800050-399182-76026-9343058-400116-729680427124427124427124 The development projects concern the development of new products. The projects are expected to be completed in 2023, and marketing will begin when the projects are completed. The projects proceed according to plan through the use of the resources that the management has set aside for the development. The software is expected to be sold to a built-up customer portfolio. Prior to the initiation of the projects, the Company asked its customer portfolio about the need for product, which was well received.1390013900424642469654Rental and lease obligations Lease obligations under operating leases. Total future lease payments: Within 1 year 91.752 0 Between 1 and 5 years 198.796 0 290.548 0 Other contingent liabilities The 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 DK Infrastructure Topco ApS, which is the management company of the joint taxation purposes. Moreover, the 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. There are no further security and contingent liabilitites at 31 December 2022. Basis Controlling interest DK Infrastructure Topco ApS, Industriparken 35, DK-2750 Ballerup Ultimate parent company DK Infrastructure Bidco ApS, Industriparken 35, DK-2750 Ballerup Owns 100 % of the share capital of the company. Transactions All of the Company´s transactions have been carried out on an arm´s length basis The Company is included in the consolidated financial statements for the parent company: Name Place of registered office DK Infrastructure Topco ApS DK Infrastructure Bidco ApS DK-2750 Ballerup DK-2750 BallerupThe Annual Report of Sense Solutions 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 selected rules applying to reporting class C. The accounting policies applied remain unchanged from last year. The Financial Statements for 2022 are presented in DKK.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.Other external expenses comprise expenses for premises, sales and distribution 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, expenses for raw materials and consumables and other external expenses.Staff expenses comprise wages and salaries as well as payroll expenses.Amortisation, depreciation and impairment losses comprise amortisation, depreciation and impairment of plant and equipment.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 other Danish group companies. The tax effect of the joint taxation is allocated to Danish enterprises in proportion to their taxable incomes.Development costs and costs relating to rights developed by the Company are recognised in the income statement as costs in the year of acquisition.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. 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: Other fixtures and fittings, tools and equipment 5 years The fixed assets’ residual values are determined at nil. Depreciation period and residual value are reassessed annually.The carrying amounts of intangible assets and property, plant and equipment are reviewed on an annual basis to determine whether there is any indication of impairment other than that expressed by amortisation and 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.Prepayments comprise prepaid expenses concerning rent, insurance premiums, subscriptions and interest.Dividend distribution proposed by Management for the year is disclosed as a separate equity item.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. Deferred tax assets 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. 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.Current tax liabilities and receivables are recognised in the balance sheet as the expected taxable income for the year adjusted for tax on taxable incomes for prior years and tax paid on account. Extra payments and repayment under the on-account taxation scheme are recognised in the income statement in financial income and expenses.Debts are measured at amortised cost, substantially corresponding to nominal value.427501582022-01-01e:ContributedCapitalMember427501582022-12-31e:ContributedCapitalMember427501582022-01-01e:RetainedEarningsMember427501582022-01-012022-12-31e:RetainedEarningsMember427501582022-12-31e:RetainedEarningsMember427501582022-01-012022-12-31427501582022-01-012022-12-312427501582022-01-012022-12-311427501582022-01-012022-12-311427501582022-01-012022-12-312427501582022-01-012022-12-313427501582022-01-012022-12-314427501582022-01-012022-12-311427501582021-01-012021-12-31427501582022-01-012022-12-31e:RetainedEarningsMember427501582021-01-012021-12-31e:RetainedEarningsMember427501582021-12-31427501582022-12-31427501582022-01-01e:FixturesFittingsToolsAndEquipmentMember427501582022-12-31e:FixturesFittingsToolsAndEquipmentMember427501582022-01-01e:DevelopmentProjectsInProgressMember427501582022-01-012022-12-31e:DevelopmentProjectsInProgressMember427501582022-12-31e:DevelopmentProjectsInProgressMemberiso4217:DKKxbrli:pure