42916749 2025-01-01 2025-12-31 42916749 2025-01-01 2025-12-31 1 42916749 2025-01-01 2025-12-31 2 42916749 2025-01-01 2025-12-31 1 42916749 2025-01-01 2025-12-31 2 42916749 2025-01-01 2025-12-31 3 42916749 2025-01-01 2025-12-31 4 42916749 2025-01-01 2025-12-31 1 42916749 2024-01-01 2024-12-31 42916749 2025-12-31 42916749 2024-12-31 42916749 2024-12-31 fsa:ContributedCapitalMember 42916749 2024-12-31 fsa:ReserveForDevelopmentExpenditureMember 42916749 2024-12-31 fsa:RetainedEarningsMember 42916749 2025-01-01 2025-12-31 fsa:ReserveForDevelopmentExpenditureMember 42916749 2025-01-01 2025-12-31 fsa:RetainedEarningsMember 42916749 2025-12-31 fsa:ContributedCapitalMember 42916749 2025-12-31 fsa:ReserveForDevelopmentExpenditureMember 42916749 2025-12-31 fsa:RetainedEarningsMember iso4217:DKK xbrli:pure Annual report 2026-06-24 Jesper Uggerhøj The Board of Directors and the Executive Board have today considered and approved the annual report of Meyers Group ApS for the financial year 01.01.2025 - 31.12.2025. The annual report is presented in accordance with the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.12.2025 and of the results of its operations for the financial year 01.01.2025 - 31.12.2025. We believe that the management commentary contains a fair review of the affairs and conditions referred to therein. We recommend the annual report for adoption at the Annual General Meeting. Copenhagen Peter Rønn-Petersen Niklas Bye Nordkap Jesper Uggerhøj chairman Marc Bradley Claus Meyer Nielsen Alastair Dunbar Storey To the shareholders of Meyers Group ApS We have audited the financial statements of Meyers Group ApS for the financial year 01.01.2025 - ​31.12.2025, which comprise the income statement, balance sheet, statement of changes in equity and ​notes, including a summary of significant accounting policies. The financial statements are prepared in accordance with the Danish Financial Statements Act.​​ ​​In our opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.12.2025 and of the results of its operations for the financial year 01.01.2025 - 31.12.2025 in accordance with the Danish Financial Statements Act. We conducted our audit in accordance with International Standards on Auditing (ISAs) and 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 this auditor’s report. We are independent of the Entity 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 Entity’s ability to continue ​as a going concern, for disclosing, as applicable, matters related to going concern, and for using the going ​concern basis of accounting in preparing the financial statements unless Management either intends to liquidate ​the Entity 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 Entity’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 Entity’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 ​Entity to cease to continue as a going concern.​Evaluate the overall presentation, structure and content of the financial statements, including the disclosures ​in the notes, and whether the financial statements represent the underlying transactions and ​events in a manner that gives a true and fair view.Plan and perform the audit of the financial statements to obtain sufficient appropriate audit evidence regarding the consolidated financial information of the entities or business units as a basis for forming an opinion on the financial statements. We are responsible for the direction, supervision and review of the audit work performed. We remain solely responsible for our audit opinion.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 the management commentary. ​​Our opinion on the financial statements does not cover the management commentary, 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 the management ​commentary and, in doing so, consider whether the management commentary is materially inconsistent with ​the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. ​​Moreover, it is our responsibility to consider whether the management commentary provides the information ​required by relevant law and regulations.Based on the work we have performed, we conclude that the management commentary is in accordance with ​the financial statements and has been prepared in accordance with the requirements in the relevant law and regulations. We did not identify any material misstatement of the management commentary. Copenhagen Deloitte Statsautoriseret Revisionspartnerselskab 33963556 Hans Tauby State Authorised Public Accountant mne44339 Primary activitiesThe main activity consists of ownership of shares in subsidiaries and acting as the administrative company for its subsidiaries Development in activities and financesThe loss for the year amounts to DKK 19.3 million. Equity amounts to DKK -78.3 million at 31 December 2025. The​equity is expected to be reestablished through normal operating activities. ​ ​Equity ​Management has assessed the equity situation according to the Danish Company Act and is committed to reestablishing the equity of the company over the coming years. Management expects the equity to be restored through income from investments in group enterprises. Given the company's core business model of ownership of shares in subsidiaries, the anticipated improvements in performance and profitability of the underlying subsidiary companies will generate the necessary income from investments to restore the company's equity position. Events after the balance sheet dateNo events have occurred after the balance sheet date which would influence the evaluation of this annual report. 25617000 6255000 28547000 19935000 16649000 0 -19579000 -13680000 1937000 -13251000 2490000 3909000 9218000 11897000 -24370000 -34919000 -5038000 -3799000 -19332000 -31120000 -19332000 -31120000 -19332000 -31120000 241000 0 0 0 8876000 0 5045000 0 14162000 0 1308000 0 157000 0 1465000 0 30496000 80019000 597000 588000 9456000 5746000 40549000 86353000 56176000 86353000 34106000 39604000 0 1320000 2035000 1999000 1727000 1054000 37868000 43977000 516000 384000 38384000 44361000 94560000 130714000 40000 40000 4123000 0 -82511000 -59056000 -78348000 -59016000 132055000 132054000 1045000 976000 133100000 133030000 4631000 2973000 30133000 52030000 5044000 1697000 39808000 56700000 172908000 189730000 94560000 130714000 40000 0 -59056000 -59016000 4123000 -4123000 0 -19332000 -19332000 40000 4123000 -82511000 -78348000 1 Events after the balance sheet dateNo events have occurred after the balance sheet date to this date, which would influence the evaluation of this annual report. 2 Staff costs2025​DKK'0002024​DKK'000Wages and salaries25,96218,081Pension costs2,2841,581Other social security costs30127328,54719,935Average number of full-time employees3225 32 25 3 Other financial income ​2025​DKK'0002024​DKK'000Financial income from group enterprises2,4753,716Other interest income019Fair value adjustments150Other financial income01742,4903,909 4 Other financial expenses2025​DKK'0002024​DKK'000Financial expenses from group enterprises9,05810,775Other interest expenses29977Fair value adjustments727Other financial expenses1241189,21811,897 5 Tax on profit/loss for the year2025​DKK'0002024​DKK'000Change in deferred tax(3,003)(2,768)Adjustment concerning previous years0968Refund in joint taxation arrangement(2,035)(1,999)(5,038)(3,799) 6 Intangible assetsCompleted development projects​DKK'000Acquired​rights​DKK'000Goodwill​DKK'000Development projects in progress​DKK'000Additions through business combinations etc.25,7494668,2960Additions25005,045Cost end of year25,7744668,2965,045Additions through business combinations etc.(24,013)(46)(44,565)0Amortisation for the year(1,520)0(14,855)0Amortisation and impairment losses end of year(25,533)(46)(59,420)0Carrying amount end of year24108,8765,045 7 Development projectsThe company has capitalised software development costs. These are expected to add significant value to the business processes, and are therefore capitalised. ​ ​Costs are capitalised as incurred if this relates to the development projects. The company possess the resources ​and skills to complete the development. 8 Property, plant and equipmentOther fixtures and fittings, tools and equipment​DKK'000Property, plant and equipment in progress​DKK'000Additions through business combinations etc.7410Additions1,558157Disposals(7)0Cost end of year2,292157Additions through business combinations etc.(710)0Depreciation for the year(274)0Depreciation and impairment losses end of year(984)0Carrying amount end of year1,308157 9 Financial assetsInvestments in group enterprises​DKK'000Deposits​DKK'000Deferred​tax ​DKK'000Cost beginning of year304,5795885,746Disposals on divestments etc.(276,020)00Additions093,710Cost end of year28,5595979,456Impairment losses beginning of year(224,560)00Disposals on divestments etc.224,56000Share of profit/loss for the year1,93700Impairment losses end of year1,93700Carrying amount end of year30,4965979,456Investments in subsidiariesRegistered inCorporate formEquity​interest​%Meyers A/SDenmarkA/S100.00Meyers Contract Catering A/SDenmarkA/S100.00 10 Deferred tax ​​Changes during the year2025​DKK'0002024​DKK'000Beginning of year5,7463,041Recognised in the income statement3,0032,768Other adjustment0(63)Effect of merger7070End of year9,4565,746 11 Non-current liabilities other than provisionsDue after more than 12 months​2025​DKK'000Outstanding after 5 years​2025​DKK'000Payables to group enterprises132,0550Other payables1,0451,045133,1001,045 12 Other unrecognised commitmentsUnrecognised rental and lease commitments2025​DKK'0002024​DKK'000Liabilities under rental or lease agreements until maturity in total824807Besides the above rental or lease commitments, the company has, as of the balance sheet date, no significant unrecognised commitments to be settled after the balance sheet date: 13 Contingent liabilitiesThe Entity participates in a Danish joint taxation arrangement where WSH Denmark ApS serves as the administration company. According to the joint taxation provisions of the Danish Corporation Tax Act, the ​Entity is therefore liable for income taxes etc for the jointly taxed entities, and for obligations, if any, relating to ​the withholding of tax on interest, royalties and dividend for the jointly taxed entities. The jointly taxed entities' ​total known net liability under the joint taxation arrangement is disclosed in the administration company's ​financial statements. 14 Non-arm’s length related party transactionsOnly related party transactions not conducted on an arm’s length basis are disclosed in the annual report.​ No such transactions have been conducted in the financial year. 15 Group relationsName and registered office of the Parent preparing consolidated financial statements for the largest group: ​CD&R and WSH JVco (UK) Limited, 300 Thames Valley Park Drive, Reading, United Kingdom, RG6 1PT.Name and registered office of the Parent preparing consolidated financial statements for the smallest group:​ WSH Denmark ApS, Dampfærgevej 10, 1. 2100 København Ø, Denmark. This annual report has been presented in accordance with the provisions of the Danish Financial Statements ​Act governing reporting class B enterprises with addition of a few provisions for reporting class C.The accounting policies applied to these financial statements are consistent with those applied last year. Consolidated financial statementsReferring to section 112(1) of the Danish Financial Statements Act, no consolidated financial statements have been prepared. Non-comparabilityAs of 01.01.2025, the company has completed a merger with Meyers Group ApS ( Business Reg. No. 42988731) with the company being the continuing company. The comparative figures have not been restated as a result of the merger. Consequently, the financial figures for 2025 are not directly comparable with 2024. Recognition and measurementFinancial assets ​Trade and other debtors are classified as basic financial instruments and are initially recognised at transaction price. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment by assessing the credit risk associated with them. ​ ​If an asset is impaired the impairment loss is recognised in the income statement. ​ ​Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party. ​​ Financial liabilities ​Trade and other creditors including loans and amounts due to fellow group companies, are classified as basic financial instruments and are initially recognised at transaction price. ​ ​Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Deposits held for future events are classified within other creditors. Creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ​​Reclassifications have been made to the comparative figures which have not had an effect on profit and equity. Business combinationsThe modified uniting-of-interests method is applied to vertical mergersin which the participating entities are subject to the Parent’s control. Under this method, assets and liabilities of the participating entities are recognised at the amounts at which they are recognised in the consolidated financial statements of the parent forming part of the merger. The comparative figures are not restated. Profit or loss from divestment of enterprisesProfits or losses from divestment or winding-up of enterprises are calculated as the difference between selling price or settlement price and the carrying amount of the net assets at the time of divestment and winding-up, respectively, including any non-amortised goodwill and estimated selling or winding-up expenses. Gross profit or lossGross profit or loss comprises revenue and and external expenses. RevenueRevenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, value added tax and other sales taxes. ​​The company has determined that where the performance obligations are satisfied over time as the client simultaneously receives and consumes the benefits provided by the company as the food service and/or support service are rendered at the client site. In these circumstances, revenue is recognised at the amount which the company has the right to invoice, where that amount corresponds directly with the value to the customer of the company’s performance completed to date. Where the company is selling directly to consumers, for example in a​retail café, the performance obligation is satisfied at the point in time when the products are sold to the customer. ​​Services ​Revenue is recognised when the following criteria have been satisfied: ​- The amount of revenue can be measured reliably; ​- It is probable that the economic benefits associated with the transaction will be received; ​- The stage of completion of the transaction at the end of the reporting period can be measured reliably; ​- The costs incurred or to be incurred in respect of the transaction can be measured reliably. ​ ​Goods/Products ​Revenue is recognised when the following criteria have been satisfied: ​- The significant risks and rewards of ownership have been transferred to the customer; ​- There is no continuing managerial involvement to the extent usually associated with ownership, nor effective ​ control over the goods sold; ​- The amount of revenue can be measured reliably; ​- It is probable that the economic benefits associated with the transaction will be received; ​- The costs incurred or to be incurred in respect of the transaction can be measured reliably. ​ Other operating incomeOther operating income comprises income of a secondary nature as viewed in relation to the Entity’s primary activities, including salary refunds. Cost of salesCost of sales comprises goods consumed in the financial year measured at cost, adjusted for normal inventory writedowns. Other external expensesOther external expenses include expenses relating to the Entity’s normal activities, including expenses for premises, stationery and office supplies, marketing costs, etc. This item also includes write downs of receivables recognised in current assets. Staff costsStaff costs comprise salaries and wages, and social security contributions, pension contributions, etc . for entity staff. Depreciation, amortisation and impairment lossesDepreciation, amortisation and impairment losses relating to plant and equipment and intangible ​assets comprise depreciation, amortisation and impairment losses for the financial year, and gains and ​losses from the sale of intangible assets and property, plant and equipment. Income from investments in group enterprisesIncome from investments in group enterprises comprises the pro rata share of the individual enterprises’ profit/loss after full elimination of intra-group profits or losses. Other financial incomeOther financial income comprises interest income, including net capital or exchange gains on securities, payables and transactions in foreign currencies and tax relief under the Danish Tax Prepayment Scheme etc. Other financial expensesOther financial expenses comprise interest expenses, including net capital or exchange losses on securities, payables and transactions in foreign currencies and tax surcharge under the Danish Tax Prepayment Scheme etc. ​Tax. Tax on profit/loss for the yearTax for the year, which consists of current tax for the year and changes in deferred tax, is recognised in the ​income statement by the portion attributable to the profit for the year and recognised directly in equity by the portion attributable to entries directly in equity.The Entity is jointly taxed with all Danish group enterprises. The current Danish income tax is allocated among the jointly taxed entities proportionally to their taxable income (full allocation with a refund concerning tax losses). GoodwillGoodwill is the difference between cost of investments and fair value of the pro rata share of assets and liabilities ​arising from acquisitions. Goodwill is amortised straight-line over its estimated useful life, which is fixed based on ​the experience gained by Management for each business area. The useful life has been determined based on an assessment of whether the enterprises are strategically acquired enterprises with a strong market position and a long-term earnings profile and whether the amount of goodwill includes intangible resources of a temporary nature that cannot be separated and recognised as separate assets. Useful lives are reassessed annually. The amortisation periods used are 10 years. ​ ​Goodwill is written down to the lower of recoverable amount and carrying amount.Intellectual property rights etc.Intellectual property rights etc. comprise development projects completed.Development projects on clearly defined and identifiable products and processes, for which the technical rate of utilisation, adequate resources and a potential future market or development opportunity in the enterprise can be established, and where the intention is to manufacture, market or apply the product or process in question, are recognised as intangible assets. Other development costs are recognised as costs in the income statement as incurred. When recognising development projects as intangible assets, an amount equalling the costs incurred less deferred tax is taken to equity in the reserve for development costs that is reduced as the development projects are amortised and written down. ​ ​The cost of development projects comprises costs such as salaries and amortisation that are directly and indirectly attributable to the development projects. ​ ​Completed development projects are amortised on a straight-line basis using their estimated useful lives which are determined based on a specific assessment of each development project. If the useful life cannot be estimated reliably, it is fixed at 10 years. For development projects protected by intellectual property rights, the maximum period of amortisation is the remaining duration of the relevant rights. The amortisation periods used are 5 years. Intellectual property rights acquired are measured at cost less accumulated amortisation. Patents are amortised on a straight-line basis over their remaining duration, and licences are amortised over the term of the agreement.Intellectual property rights acquired are measured at cost less accumulated amortisation. ​​Intellectual property rights etc. are written down to the lower of recoverable amount and carrying amount. Property, plant and equipmentTangible assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. ​ ​At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and​its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. ​ ​Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. ​  ​The estimated useful lives range as follows: Useful life Other fixtures and fittings, tools and equipment3-10 yearsThe assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. ​ ​Items of property, plant and equipment are written down to the lower of recoverable amount and carrying amount. Investments in group enterprisesInvestments in group enterprises are recognised and measured in the parent financial statements according to the equity method. This means that investments are measured at the pro rata share of the enterprises’ equity value plus unamortised goodwill and plus or minus unrealised intra-group profits or losses. Reference is made to the above section on business combinations for more details about the accounting policies applied to acquisitions of investments in group enterprises. ​ ​Group enterprises with negative equity value are measured at DKK 0. Any receivables from these enterprises are written down to net realisable value based on a specific assessment. If the Parent has a legal or constructive obligation to cover the liabilities of the relevant enterprise, and it is probable that such obligation will involve a loss, a provision is recognised that is measured at present value of the costs necessary to settle the obligations at ​the balance sheet date. ​ ​Upon distribution of profit or loss, net revaluation of investments in group enterprises is transferred to the reserve for net revaluation according to the equity method in equity. ​ ​Investments in group enterprises are written down to the lower of recoverable amount and carrying amount. Deferred taxDeferred tax is recognised on all temporary differences between the carrying amount and the tax-based value of assets and liabilities, for which the tax-based value is calculated based on the planned use of each asset. However, no deferred tax is recognised for amortisation of goodwill disallowed for tax purposes and temporary differences arising at the date of acquisition that do not result from a business combination and that do not have any effect on profit or loss or on taxable income. ​​Deferred tax assets, including the tax base of tax loss carryforwards, are recognised in the balance sheet at their estimated realisable value, either as a set-off against deferred tax liabilities or as net tax assets. ReceivablesReceivables are measured at amortised cost, usually equalling nominal value less writedowns for bad and ​doubtful debts. Joint taxation contributions receivable or payableCurrent joint taxation contributions payable or joint taxation contributions receivable are recognised in the balance sheet, calculated as tax computed on the taxable income for the year, which has been adjusted for prepaid tax. For tax losses, joint taxation contributions receivable are only recognised if such losses are expected to be used under the joint taxation arrangement. PrepaymentsPrepayments comprise incurred costs relating to subsequent financial years. Prepayments are measured at amortised cost. CashCash and cash equivalents comprise of both cash at bank and in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Operating leasesLease payments on operating leases are recognised on a straight-line basis in the income statement over the ​term of the lease. Rentals paid under operating leases are charged to the income statement on a straight line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset. Other financial liabilitiesOther financial liabilities are measured at amortised cost, which usually corresponds to nominal value. true Grundlag for konklusion Konklusion 2026-06-24 2026-06-24 true 2024-01-01 2024-12-31 København S 2300 6 Weidekampsgade København København Ø 2100 Regnskabsklasse B Revisionspåtegning 2025-12-31 2025-01-01 110 Dampfærgevej Meyers Group ApS 42916749 33963556 2300 København S Weidekampsgade 6 Deloitte Statsautoriseret Revisionspartnerselskab