41284366 2023-12-31 41284366 2022-12-31 41284366 2023-01-01 fsa:ContributedCapitalMember 41284366 2023-01-01 fsa:ReserveForDevelopmentExpenditureMember 41284366 2023-01-01 fsa:RetainedEarningsMember 41284366 2023-01-01 fsa:ProposedDividendRecognisedInEquityMember 41284366 2023-12-31 fsa:ContributedCapitalMember 41284366 2023-12-31 fsa:ReserveForDevelopmentExpenditureMember 41284366 2023-12-31 fsa:RetainedEarningsMember 41284366 2023-12-31 fsa:ProposedDividendRecognisedInEquityMember 41284366 2023-01-01 fsa:AcquiredTrademarksMember 41284366 2023-01-01 fsa:DevelopmentProjectsInProgressMember 41284366 2023-12-31 fsa:AcquiredTrademarksMember 41284366 2023-12-31 fsa:DevelopmentProjectsInProgressMember 41284366 2023-01-01 fsa:FixturesFittingsToolsAndEquipmentMember 41284366 2023-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 41284366 2023-12-31 fsa:LongtermDebtToOtherCreditInstitutionsMember 41284366 2022-12-31 fsa:LongtermDebtToOtherCreditInstitutionsMember 41284366 2023-01-01 2023-12-31 41284366 2023-01-01 2023-12-31 1 41284366 2023-01-01 2023-12-31 memberOfBoardIdentifier_executive_board_1 41284366 2023-01-01 2023-12-31 2 41284366 2022-01-01 2022-12-31 41284366 2023-01-01 2023-12-31 fsa:ProposedDividendRecognisedInEquityMember 41284366 2022-01-01 2022-12-31 fsa:ProposedDividendRecognisedInEquityMember 41284366 2023-01-01 2023-12-31 fsa:RetainedEarningsMember 41284366 2022-01-01 2022-12-31 fsa:RetainedEarningsMember 41284366 2023-01-01 2023-12-31 fsa:ContributedCapitalMember 41284366 2023-01-01 2023-12-31 fsa:ReserveForDevelopmentExpenditureMember 41284366 2023-01-01 2023-12-31 fsa:RetainedEarningsMember 41284366 2023-01-01 2023-12-31 fsa:ProposedDividendRecognisedInEquityMember 41284366 2023-01-01 2023-12-31 fsa:AcquiredTrademarksMember 41284366 2023-01-01 2023-12-31 fsa:DevelopmentProjectsInProgressMember 41284366 2023-01-01 2023-12-31 fsa:FixturesFittingsToolsAndEquipmentMember iso4217:DKK pure Årsrapport 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Strandvejen 44 2900 Hellerup 2023-01-01 2022-01-01 2023-12-31 2022-12-31 41284366 Ønskeskyen ApS Amerika Plads 19, 3. 2100 København Ø 2020-04-07 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab 33771231 Strandvejen 44 2900 Hellerup Denmark 39 45 39 45 koebenhavn@pwc.dk 2024-05-13 Casper Ravn-Sørensen Regnskabsklasse B Revisionspåtegning The Executive Board has today considered and adopted the Annual Report of Ønskeskyen ApS for the financial year 1 January - 31 December 2023. 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 2023 of the Company and of the results of the Company operations for 2023. In my opinion, Management's Review includes a true and fair account of the matters addressed in the Review. I recommend that the Annual Report be adopted at the Annual General Meeting. 2024-05-13 Copenhagen Casper Ravn-Sørensen Executive Officer To the shareholder of Ønskeskyen ApS 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 Ønskeskyen ApS 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. 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 Statements 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 required 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. Hellerup 2024-05-13 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Søren Alexander State Authorised Public Accountant mne42824 Pawel Christof Michalak State Authorised Public Accountant mne48479 Key activities The purpose of the Company is to develop and market the online wishlist application "Ønskeskyen" and “GoWish”. Development in the year The income statement of the Company for FY23 shows a net profit of DKK 11.4m and at 31 December 2023 the balance sheet of the Company shows an equity of DKK 29.5m. The EBITDA for FY23 amounted to DKK 21m compared to the expectation for the year of DKK 20m. The earnings are in line with the Management’s expectations for the year and Management considers the year’s result to be satisfactory.During the year, Ønskeskyen has improved its position further, as market leader, especially based on a strong growth in users from c. 2.0m to 2.7m users in Denmark, and the launch of a new multilingual application enabled the Company to penetrate new markets and act as a global platform. Expectations for the year ahead In FY24, Management expects a continued revenue and profit growth. Ønskeskyen's focus in FY24 is to penetrate the new markets abroad and secure its position as market leader, by accelerating the development to improve the application for the benefit of users and partners and by significant investments in focus markets Subsequent events After the balance sheet date, the Company has acquired the IP rights to the Heylink platform.Other than this, no events materially affecting the assessment of the Annual Report have occurred after the balance sheet date. 35723377 21019914 14699271 7323579 4164895 936079 16859211 12760256 441040 501 1142130 142520 16158121 12618237 4747906 2550558 11410215 10067679 0 10000000 11410215 67679 6406764 6868341 22325152 13668021 28731916 20536362 24448 0 24448 0 476330 0 476330 0 29232694 20536362 41189991 714496 19629 19907783 0 32492 1079460 497287 42289080 21152058 3222443 3061323 45511523 24213381 74744217 44749743 1000000 1000000 17413619 10661056 11108320 6450668 0 10000000 29521939 28111724 5176971 3308495 5176971 3308495 13303513 7937581 13303513 7937581 3803676 1694610 1179058 0 3713398 1173859 10373445 439256 3193216 313786 4479001 1770432 26741794 5391943 40045307 13329524 74744217 44749743 1000000 10661056 6450668 10000000 0 0 0 -10000000 0 0 11410215 0 0 6752563 -6752563 0 1000000 17413619 11108320 0 12290960 6111141 1453104 646289 178257 120179 776950 445970 14699271 7323579 30 12 433245 0 1000 500 6795 1 441040 501 22233 0 1099571 137946 20326 4574 OtherFinanceExpenses 1142130 142520 2879430 217932 1868476 2332626 4747906 2550558 9360790 13668021 499807 11857096 9860597 25525117 2492449 0 961384 3199965 3453833 3199965 6406764 22325152 Intangible assets consist of acquired trademarks related to the application "Ønskeskyen / GoWish" as well as capitalized development costs related to further development of the application. 0 27994 27994 0 3546 3546 24448 0 0 13303513 7937581 13303513 7937581 3787574 0 16102 1694610 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: Credit institutions Other contingent liabilities For security of all accounts with Kompasbank A/S, the Company has provided a corporate mortgage of nominally DKK 20 million. The company pledge includes simple receivables, debtors, intellectual property rights and operating equipment. 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 Dotcom Capital 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.The company has non-terminable lease obligations of DKK 1,314,832 until 2024 (2022: No non-terminable lease obligations) The Annual Report of Ønskeskyen ApS 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. The Financial Statements for 2023 are presented in DKK. 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. 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. Revenue from the sale of goods is recognised when the risks and rewards relating to the goods sold have been transferred to the purchaser, the revenue can be measured reliably and it is probable that the economic benefits relating to the sale will flow to the Company. Revenue is measured at the consideration received and is recognised exclusive of VAT and net of discounts relating to sales. **Expenses for consumables**Expenses for consumables comprise the consumables consumed to achieve revenue for the year. Other external expenses comprise expenses for premises, sales and distribution, administration, 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 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 intangible assets. Other operating income and other operating expenses comprise items of a secondary nature to the main activities of the Company, including gains and losses on the sale of intangible assets and property, 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 wholly owned Danish subsidiaries. The tax effect of the joint taxation is allocated to Danish enterprises in proportion to their taxable incomes. Patents and licences are measured at the lower of cost less accumulated amortisation and recoverable amount. Patents are amortised over the remaining patent period, and licences are amortised over the licence period; however not exceeding 10 year. Development costs and costs relating to rights developed by the Company are capitalised as incurred and measured at the lower of cost less accumulated amortisation and recoverable amount. Development projects are amortised over a period of 5 years. The amortisation period is reassessed annually 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 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. Other fixed asset investments consist of deposits. 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 licenses. Dividend distribution proposed by Management for the year is disclosed as a separate Dividend 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.