355243552020-01-012020-12-31355243552020-01-012020-12-312355243552020-01-012020-12-313355243552020-01-012020-12-314355243552020-01-012020-12-311355243552020-01-012020-12-31RevPers5355243552020-01-012020-12-31fsa:ContributedCapitalMember355243552020-01-012020-12-31fsa:RetainedEarningsMember355243552020-01-012020-12-31355243552020-01-012020-12-31fsa:RetainedEarningsMember355243552019-01-012019-12-31355243552019-01-012019-12-31355243552019-01-012019-12-31fsa:RetainedEarningsMember355243552020-12-31355243552020-01-01fsa:ContributedCapitalMember355243552020-01-01fsa:RetainedEarningsMember355243552019-12-31xbrli:purexbrli:pureiso4217:DKKxbrli:sharesTo the shareholders of Fingerprint Cards ApS Basis of 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’ Code of Ethics for Professional Accountants (IESBA Code) and the additional requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these rules and requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Opinion We have audited the financial statements of Fingerprint Cards ApS for the financial year 1 January 2020 - 31 December 2020, which comprise the accounting policies, income statement, balance sheet, statement of changes in equity and notes. 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 Company's financial position at 31 December 2020 and of the result of the Company's operations for the financial year 1 January - 31 December 2019 in accordance with the Danish Financial Statements Act. 2021-04-08HelsingørOur 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 of accounting information 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 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 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. , The auditor's responsibility 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, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users of accounting information 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 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 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's responsibility for the financial statements 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.30195264mne34299Morten BjerregaardKent PedersenKarl-Christian FredriksonKent PedersenOlaf Carl EhrenskjöldKallermann Revision A/S - statsautoriseret revisionsfirmaChairmanBoard MemberBoard MemberRevisionspåtegningtrue25753819190115262626403062211682083Regnskabsklasse B80000800002517298917724055156938130000706640986683 Reporting Class The Annual Report of Fingerprint Cards ApS for 2020 has been presented in accordance with the provisions of the Danish Financial Statements Act governing reporting class B enterprises with additional choice of a few rules from class C enterprises. The accounting policies applied for these financial statements are consistent with those applied last year. Reporting currency The Annual Report is presented in Danish kroner. Translation policies Receivables, payables and other monetary items denominated in foreign currencies that have not been settled at the balance sheet date are translated using the exchange rate at the balance sheet date. Exchange differences that arise between the rate at the transaction date and the one in effect at the payment date or the rate at the balance sheet date are recognised in the income statement as financial income or financial expenses. Income Statement Revenue The revenue from service rendered, which comprises service contracts, are recognized on a straight-line basis in the revenue concurrently with delivery of the services, as the services are rendered in the shape of an undefinable number of actions during a specified period of time. Revenue is measured to fair value of the agreed fee ex. VAT and taxes charged on behalf of third parties. All discounts granted in connection with the sale are recognized in the revenue. Other external expenses Other external costs include costs for distribution, sales, advertising, administration, premises, loss of debitors, operating leasing costs etc. Staff expenses Staff costs comprise salaries and wages including holiday pay and pensions as well as social security costs, etc for the Company’s staff. Received compensations from the authorities have been deducted in staff costs. Amortisation and impairment of tangible and intangible assets Amortisation and impairment of intangible and tangible assets has been performed based on a continuing assessment of the useful life of the assets in the Company. Non-current assets are amortised on a straight line basis, based on cost, on the basis of the following assessment of useful life and residual values: Useful life Other fixtures and fittings, tools and equipment 3-5 years Leasehold improvements 5 years Profit or loss resulting from the sale of intangible or tangible assets is determined as the difference between the selling price less selling costs and the carrying amount at the date of sale, and is recognised in the Income Statement under other operating income or expenses. Financial income and expenses Financial income and expenses comprise interest income and expense, payables and transactions denominated in foreign currencies as well as surcharges and refunds under the on-account tax scheme, etc. Tax on net profit for the year Tax for the year, which consists of current tax for the year and changes in deferred tax, is recognized in the income statement by the portion attributable to the profit for the year and recognized directly in equity by the portion attributable to entries directly in equity. The tax expense relating to the profit/loss for the year is recognized in the income statement, and the tax expense relating to changes directly recognized in equity is recognized directly in equity. Balance Sheet Tangible assets Fixtures and fittings, tools and equipment are measured at cost less accumulated depreciation and impairment losses. The basis of depreciation is cost less estimated residual value after the end of useful life. Cost comprises the acquisition price and costs directly attributable to the acquisition until the time when it is ready to be put into operation. Concerning self-constructed assets the cost comprises direct and indirectly expenses to materials, components, subcontractors, wages and borrowing costs from specific and general borrowing, which directly relate to the construction of the single asset. . Where individual components of an item of property, plant and equipment have different useful lives, they are accounted for as separate items, which are depreciated separately. In case of changes in the depreciation period or the residual value, the effect on the amortisation charges is recognized prospectively as a change in accounting estimates. The cost of composite asset is disaggregated into components, which are seperately depreciated if the usefull lives of the individual components differ. Gains and losses on the disposal of property, plant and equipment are determined as the difference between the sales price less disposal costs and the carrying amount at the date of disposal. Gains and losses are recognized in the income statement as other operating income and other operating costs, respectively. Receivables Receivables are measured at amortised cost, usually equalling nominal value less provisions for bad debts. Cash and cash equivalents Cash and cash equivalents comprise cash at bank. Equity Equity comprises the working capital and a number of equity items that may be statutory or stipulated in the articles of association. Current tax liabilities Current tax liabilities and current tax receivables are recognised in the Balance Sheet as calculated tax on the expected taxable income for the year, adjusted for tax on taxable income for previous years as well as for tax prepaid. Other payables Financial liabilities are measured at net realisable value. Contingent assets and liabilities Contingent assets and liabilities are not recognised in the Balance Sheet but appear only in the notes.6. Contingent liabilities The Company has rent commitments for 316 DKK’000. 2020 2019 DKK DKK 1. Employee benefits expense Wages and salaries 25.793.393 20.758.082 Post-employement benefit expense 2.047.479 2.076.832 Other employee expense 535.928 769.464 28.376.800 23.604.378 Average number of employees 26 26 Contributed Retained capital earnings Total DKK DKK DKK Equity 1 January 2020 80.000 14.833.115 14.913.115 Profit (loss) 0 2.638.384 2.638.384 Equity 31 December 2020 80.000 17.471.499 17.551.499 The share capital has remained unchanged for the last 5 years. 7. Collaterals and securities No securities or mortgages exist at the balance sheet date. 2. Other finance income Other finance income from group enterprises 212.695 0 Other finance income 1.346 1.287 214.041 1.287 5. Leasehold improvements Cost at the beginning of the year 1.900.854 1.900.854 Cost at the end of the year 1.900.854 1.900.854 Depreciation and amortisation at the beginning of the year -1.301.027 -922.648 Amortisation for the year -236.422 -378.379 Impairment losses and amortisation at the end of the year -1.537.449 -1.301.027 Carrying amount at the end of the year 363.405 599.827 , 4. Fixtures, fittings, tools and equipment Cost at the beginning of the year 3.575.942 3.335.172 Addition during the year, including improvements 0 240.770 Cost at the end of the year 3.575.942 3.575.942 Depreciation and amortisation at the beginning of the year -2.888.298 -2.279.995 Amortisation for the year -470.219 -608.303 Impairment losses and amortisation at the end of the year -3.358.517 -2.888.298 Carrying amount at the end of the year 217.425 687.644 8. Related parties The Company is included in the consolidated financial statements of: Fingerprint Cards AB The Company’s consolidated financial statements can be obtained by contacting the company. The following related party has a controlling interest in Fingerprint Cards ApS: Fingerprint Cards AB Kungsgatan 20, SE-411 19 Göteborg, Sverige The Company has had revenue transactions with the related party for 35.516 DKK’000 (2019: 30.935 DKK’000) 3. Tax expense Current tax expense 771.892 629.222 Adjustments for deferred tax -26.938 -31.226 744.954 597.996 2837680023604378-80000-1483311517551499149131152174256876443231370127409551363405599827257538191901152682023204098411580830128747160964125900214041128778869803568170263838420958810263838426383842095881338333826938773230261281849058083012874711747149914833115false82023204098411211423676041972202795765151732192892282221224485020193000, HelsingørStationspladsen 1 og 32013-10-302021-04-083552435530195264ÅrsrapportKent PedersenFingerprint Cards ApSKallermann Revision A/S - statsautoriseret revisionsfirma2019-01-012019-12-312020-12-312020-01-01Development in activities and financial matters The Company's Income Statement of the financial year 1 January 2020 - 31 December 2020 shows a result of 2.638.384 DKK and the Balance Sheet at 31 December 2020 a balance sheet total of 25.753.819 DKK and an equity of 17.551.499 DKK. The Company's principal activities The Company's principal activities consist in development of technology for personal identification based on microelectronic technology.The Company's principal activities The Company's principal activities consist in development of technology for personal identification based on microelectronic technology. Development in activities and financial matters The Company's Income Statement of the financial year 1 January 2020 - 31 December 2020 shows a result of 2.638.384 DKK and the Balance Sheet at 31 December 2020 a balance sheet total of 25.753.819 DKK and an equity of 17.551.499 DKK. Post financial year events After the end of the financial year, no events have occurred which may change the financial position of the entity substantially. 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 Company's financial position at 31 December 2020 and of its financial performance for the financial year 1 January 2020 - 31 December 2020. 2021-04-08The Board of Directors and the Executive Board have today considered and approved the annual report for the financial year 1 January 2020 - 31 December 2020 for Fingerprint Cards ApS. We believe that the management commentary contains a fair review of the affairs and conditions referred to therein.Herlev We recommend the annual report for adoption at the Annual General Meeting. The Board of Directors and the Executive Board have today considered and approved the annual report for the financial year 1 January 2020 - 31 December 2020 for Fingerprint Cards ApS. 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 Company's financial position at 31 December 2020 and of its financial performance for the financial year 1 January 2020 - 31 December 2020. 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. Herlev, 8 April 2021 Executive Board Kent Pedersen Managing Director Supervisory Board Karl-Christian Fredrikson Kent Pedersen Olaf Carl Ehrenskjöld Formand Medlem Medlem