41246421 2023-01-01 2023-12-31 41246421 2023-01-01 2023-12-31 auditor_1 41246421 2023-01-01 2023-12-31 memberOfBoardIdentifier_1 41246421 2023-01-01 2023-12-31 memberOfBoardIdentifier_1 41246421 2023-01-01 2023-12-31 memberOfBoardIdentifier_2 41246421 2023-01-01 2023-12-31 memberOfBoardIdentifier_3 41246421 2022-01-01 2022-12-31 41246421 2023-12-31 41246421 2022-12-31 41246421 2022-12-31 fsa:ContributedCapitalMember 41246421 2022-12-31 fsa:ReserveForDevelopmentExpenditureMember 41246421 2022-12-31 fsa:RetainedEarningsMember 41246421 2023-01-01 2023-12-31 fsa:ContributedCapitalMember 41246421 2023-01-01 2023-12-31 fsa:RetainedEarningsMember 41246421 2023-01-01 2023-12-31 fsa:ReserveForDevelopmentExpenditureMember 41246421 2023-12-31 fsa:ContributedCapitalMember 41246421 2023-12-31 fsa:ReserveForDevelopmentExpenditureMember 41246421 2023-12-31 fsa:RetainedEarningsMember 41246421 2023-12-31 fsa:LongtermDebtToBanksMember 41246421 2022-12-31 fsa:LongtermDebtToBanksMember iso4217:DKK pure Årsrapport 2023-01-01 2022-01-01 2023-12-31 2022-12-31 2024-06-21 41246421 2024-06-21 2020-03-18 Reporting class B KPMG 2100 København Ø Dampfærgevej 28 25578198 Auditor's report on audited financial statements Copenhagen 2024-06-21 KPMG 25578198 Dampfærgevej 28 2100 true Jacob Mortensen The Board of Directors and the Executive Board have today discussed and approved the annual report for Bodil ApS for the financial year 1 January - 31 December 2023. The annual report has been 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 assets, liabilities and financial position at 31 December 2023 and of the results of the Company's operations for the financial year 1 January - 31 December 2023.Further, in our opinion, the Management's review gives a fair review of the matters discussed in the Management's review. We recommend that the annual report be approved at the annual general meeting. Jacob Mortensen CEO Jacob Madsen Chairman Kristian Bloch Martin Kring Independent auditor's report To the shareholders of Bodil ApS Opinion We have audited the financial statements of Bodil ApS for the financial year 1 January - 31 December 2023, comprising income statement, balance sheet, statement of changes in equity and notes, including 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 Company's assets, liabilities and financial position 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. 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's responsibility for the financial statementsManagement 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 that 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. Auditor's responsibilities for the audit of the financial statementsOur objectives are to obtain reasonable assurance as to 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 in Denmark will always detect a material misstatement when it exists. Misstatements may 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 financial statement users made 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 alsoidentify and assess the risks of material misstatement of the company 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. Statement on the Management's reviewManagement is responsible for the Management's review.Our opinion on the financial statements does not cover the 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 the Management's review and, in doing so, consider whether the 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 the Management's review provides the information required under the Danish Financial Statements Act. Based on the work we have performed, we conclude that the Management's review is in accordance with the financial statements and has been prepared in accordance with the requirements of the Danish Financial Statement Act. We did not identify any material misstatement of the Management's review. Morten Høgh-Petersen mne34283 Bodil ApS Frederiksborggade 22, 1. tv DK-1360 København K København Principal activities The purpose of this Company is to provide energy-efficient solutions for private homes as well as all activities that, in the Board's opinion, are related to this. Development in activities and financial position The Company's income statement for 2023 shows a loss of DKK 5,311,478 as against a loss of DKK 1,191,641 in 2022. Equity in the Company's balance sheet at 31 December 2023 stood at DKK -4,000,618 as against DKK 282,757 at 31 December 2022. Capital resources The Company has lost more than 50% of its contributed capital and is thus subject to the provisions on loss of capital under the Danish Companies Act. Subsequent to the balance sheet date, InstallatørGruppen A/S has injected DKK 5 million as a capital increase into the Company. The Capital increase restores the loss in contributed capital. Events after the balance sheet date No events have occurred after the balance sheet date of material importance to the annual report for 2023. 4945808 3157820 9561501 4739443 112663 0 -4728356 -1581623 200 0 584740 109450 -5312896 -1691073 -1418 -499432 -5311478 -1191641 2482015 1539712 -7793493 -2731353 2591252 0 3182070 2703915 5773322 2703915 99204 75669 5872526 2779584 377778 1580060 429549 434227 153333 46959 21598 70500 982258 2131746 1560301 3471208 2542559 5602954 8415085 8382538 45554 42810 4503192 2109054 -8549364 -1869107 -4000618 282757 0 1418 4243442 3876096 6000000 0 0 610000 1599586 2351360 0 800500 0 9085 572675 451322 8172261 4222267 8415085 8382538 42810 2109054 -1869107 2744 1025359 0 -87877 87877 0 2482015 -7793493 45554 4503192 -8549364 The annual report of Bodil ApS for 2023 has been prepared in accordance with the provisions applying to reporting class B entities under the Danish Financial Statements Act with opt-in from higher reporting classes.The accounting policies used in the preparation of the financial statements are consistent with those of last year. Foreign currency translation On initial recognition, transactions denominated in foreign currencies are translated at the exchange rates at the transaction date. Foreign exchange differences arising between the exchange rates at the transaction date and the date of payment are recognised in the income statement as financial income or financial expenses. Receivables, payables and other monetary items denominated in foreign currencies are translated at the exchange rates at the balance sheet date. The difference between the exchange rates at the balance sheet date and the date at which the receivable or payable arose or was recognised in the latest financial statements is recognised in the income statement as financial income or financial expenses. Revenue Revenue is measured at the fair value of the agreed consideration excluding VAT and taxes charged on behalf of third parties. All discounts granted are deducted from revenue. Cost of sales Cost of sales comprises costs incurred to generate revenue for the year. This item also comprises direct costs for goods for resale and changes to inventory of goods for resale. Other operating income Other operating income comprises items secondary to the activities of the Company. Other external costs Other external costs comprise costs for sales , costs for advertising, administrative expenses, costs of premises, operating leases, etc. Staff costs Staff costs comprise wages and salaries, including holiday allowance, pension and other social security costs. Financial income and expenses Financial income and expenses comprise interest expense and losses on payables and transactions denominated in foreign currencies. Tax on loss for the year The Parent Company is subject to the Danish rules on compulsory joint taxation of the Group's Danish subsidiaries. The subsidiaries are included in the joint taxation from the date when they are included in the consolidated financial statements and up to the date when they are excluded from the consolidation. The Parent Company is the administrative company for the joint taxation and accordingly settles all payments of corporation tax to the tax authorities. On payment of joint taxation contributions, current Danish corporation tax is allocated between the jointly taxed entities in proportion to their taxable income. Entities with tax losses receive joint taxation contributions from entities that have used the losses to reduce their own taxable profit. Tax for the year comprises current corporation tax for the year and changes in deferred tax, including changes in tax rates. The tax expense relating to the profit/loss for the year is recognised in the income statement, and the tax expense relating to amounts directly recognised in equity is recognised directly in equity. Intangible assets Development costs comprise costs, wages, salaries and amortisation directly and indirectly attributable to development activities. Leases On initial recognition, leases for fixed assets that transfer substantially all risks and rewards incident to ownership to the Company (finance leases) are recognised in the balance sheet at the lower of fair value and the net present value of future lease payments. When the net present value is calculated, the interest rate implicit in the lease or the incremental borrowing rate is used as the discount factor. Assets held under finance leases are subsequently depreciated as the Company's other fixed assets. The capitalised lease obligation is recognised in the balance sheet as a liability at amortised cost, allowing the interest element of the lease payment to be recognised in the income statement over the term of the lease. All other leases are accounted for as operating leases. Payments relating to operating leases and other leases are recognised in the income statement over the term of the lease. The Company's total obligation relating to operating leases and other leases is disclosed as contractual obligations and contingencies, etc. Investments Other receivables and deposits are recognised at amortised cost. Receivables Receivables are measured at amortised cost. Corporation tax and deferred tax Current tax payable and receivable is recognised in the balance sheet as tax computed on the taxable income for the year, adjusted for tax on the taxable income of prior years and for tax paid on account. Deferred tax is measured using the balance sheet liability method on all temporary differences between the carrying amount and the tax value of assets and liabilities measured on the planned use of the asset or settlement of the liability, respectively. However, deferred tax is not recognised on temporary differences relating to office buildings non-deductible for tax purposes and other items where temporary differences arise at the date of acquisition without affecting either profit/loss or taxable income. Deferred tax assets, including the tax value of tax loss carryforwards, are recognised at the expected value of their utilisation within the foreseeable future; either as a set-off against tax on future income or as a set-off against deferred tax liabilities in the same legal tax entity. Any deferred net assets are measured at net realisable value. Deferred tax is measured in accordance with the tax rules and at the tax rates applicable at the balance sheet date when the deferred tax is expected to crystallise as current tax. Changes in deferred tax as a result of changes in tax rates are recognised in the income statement or equity, respectively. Prepayments Prepayments comprise prepayment of costs incurred relating to subsequent financial years. Cash at bank and in hand Cash at bank and in hand comprise cash and bank deposits. EquityReserve for development costs The reserve for development costs comprises capitalised development costs. The reserve cannot be used for dividends, distribution or to cover losses. If the recognised development costs are sold or in other ways excluded from the Company's operations, the reserve will be dissolved and transferred directly to the distributable reserves under equity. If the recognised development costs are written down, the part of the reserve corresponding to the write-down of the development costs will be reversed. If a write-down of development costs is subsequently reversed, the reserve will be re-established. The reserve is reduced by amortisation of capitalised development costs on an ongoing basis. Liabilities other than provisions Liabilities are measured at amortised cost. The Company has lost more than 50% of its contributed capital and is thus subject to the provisions on loss of capital under the Danish Companies Act. Subsequent to the balance sheet date, InstallatørGruppen A/S has injected DKK 5 million as a capital increase into the Company. The Capital increase restores the loss in contributed capital. 9045324 4559963 401211 116973 114966 62507 22 11 Current tax for the year0-434,227Deferred tax adjustment for the year-1,418-65,205-1,418 -499,432 4243442 3876096 Contingent liabilitiesThe Company is jointly taxed with other Danish companies in the group and is jointly and severally liable for corporation taxes and any obligations to include withholding tax on interest, royalties and dividends for the jointly taxed companies. The total tax liabilities of the jointly taxed companies on the balance sheet date has not yet been calculated. Bodil ApS has entered into a rent obligation with a 3 months notice. The total rent obligation is DKK 99 thousand. The Company has made collateral (virksomhedspant), for an amount of DKK 4 million towards EIFO.