xbrli:pureiso4217:DKK140473952022-01-012022-12-31140473952022-01-012022-12-311140473952022-01-012022-12-311140473952022-01-012022-12-311140473952022-01-012022-12-312140473952022-01-012022-12-313140473952022-01-012022-12-31140473952021-01-012021-12-31140473952022-01-012022-12-31fsa:ProposedDividendRecognisedInEquityMember140473952021-01-012021-12-31fsa:ProposedDividendRecognisedInEquityMember140473952022-01-012022-12-31fsa:RetainedEarningsMember140473952021-01-012021-12-31fsa:RetainedEarningsMember140473952022-01-012022-12-31fsa:RetainedEarningsMember140473952022-01-012022-12-31fsa:ProposedDividendRecognisedInEquityMember140473952022-12-31140473952021-12-31140473952022-01-01fsa:ContributedCapitalMember140473952022-01-01fsa:RetainedEarningsMember140473952022-01-01fsa:ProposedDividendRecognisedInEquityMember140473952022-01-01140473952022-12-31fsa:ContributedCapitalMember140473952022-12-31fsa:RetainedEarningsMember140473952022-12-31fsa:ProposedDividendRecognisedInEquityMemberGrundlag for konklusionKonklusion2023-06-182023-06-18true2021-01-012021-12-3133963556København S23006WeidekampsgadeDeloitte Statsautoriseret RevisionspartnerselskabLejreKirke Såby4060Regnskabsklasse BRevisionspåtegning2022-12-312022-01-01<br /><br />6FanøvejDkt Connect A/S14047395339635562300 København SWeidekampsgade 6Deloitte Statsautoriseret RevisionspartnerselskabÅrsrapportThe Board of Directors and the Executive Board have today considered and approved the annual report of Dkt Connect A/S for the financial year 01.01.2022 - 31.12.2022.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 31.12.2022 and of the results of its operations for the financial year 01.01.2022 - 31.12.2022.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.Kirke SåbyAnthony William Joseph BashamChristian Hermann Günther Thomas SteerJoachim DöringLudwig Michael ModraTo the shareholders of Dkt Connect A/SWe have audited the financial statements of Dkt Connect A/S for the financial year 01.01.2022 -
31.12.2022, 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 31.12.2022 and of the results of its operations for the financial year 01.01.2022 - 31.12.2022 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:<br />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.
<br />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.
<br />Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates
and related disclosures made by Management.
<br />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.
<br />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.<br />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 under the Danish Financial Statements Act.<br />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 of the Danish Financial
Statements Act. We did not identify any material misstatement of the management commentary.CopenhagenHenrik Wolff Mikkelsenmne33747State Authorised Public AccountantPrimary activitiesAs in the past, the Company's most important
activities have been sales and consulting in low power systems, including alarm, cable TV and common antenna systems.Development in activities and financesThe income statement for 2022 shows a profit
of DKK 6,858,925 against a profit of DKK 2,903,193 last year, and the balance sheet at 31 December 2022 shows equity of DKK 13,356,833.
Management considers the Company's financial performance in the year satisfactory.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.1196231060618231801366185970528130281301013281441739881657829002134944747651887999453726472194102082327968589252903193300000003858925290319338589253000000977326528977326528104262180110426218014939481349394813251385314241573124992449415731249924492196863212575772239011669029760805066522968613127933397951478468506350774031825429435102541183074365000005000009856833599790830000000133568336497908500000599790806497908500000985683330000000623230062323080121126045418170129593855817980189429809116057200219186029315000002174570811186298217457081118629835102541183074361 Staff costs2022
DKK2021
DKKWages and salaries1,607,2451,650,209Pension costs160,648145,061Other social security costs15,61225,374Other staff costs17,86139,0611,801,3661,859,705Average number of full-time employees33332 Depreciation, amortisation and impairment losses2022
DKK2021
DKKAmortisation of intangible assets16,75516,755Depreciation of property, plant and equipment11,37511,37528,13028,1303 Other financial income
2022
DKK2021
DKKExchange rate adjustments16,57829,00216,57829,0024 Other financial expenses2022
DKK2021
DKKFinancial expenses from group enterprises98,409111,029Other interest expenses5,72613,045Exchange rate adjustments1,245,312352,4441,349,447476,518<br />2022
DKK2021
DKKFinancial expenses from group enterprises98,409111,029Other interest expenses5,72613,045Exchange rate adjustments1,245,312352,4441,349,447476,5185 Tax on profit/loss for the year2022
DKK2021
DKKCurrent tax1,798,018942,980Change in deferred tax143,002(119,701)1,941,020823,2796 Intangible assetsAcquired intangible assets
DKKCost beginning of year50,264Cost end of year50,264Amortisation and impairment losses beginning of year(23,736)Amortisation for the year(16,755)Amortisation and impairment losses end of year(40,491)Carrying amount end of year9,7737 Property, plant and equipmentOther fixtures and fittings, tools and equipment
DKKCost beginning of year34,124Cost end of year34,124Depreciation and impairment losses beginning of year(12,323)Depreciation for the year(11,375)Depreciation and impairment losses end of year(23,698)Carrying amount end of year10,4268 Financial assetsDeposits
DKKCost beginning of year4,813Additions126Cost end of year4,939Carrying amount end of year4,9399 Trade receivablesOut of the Company's total receivables, trade
receivables totalling DKK 4,608,000 fall due for
payment after more than one year after the
balance sheet date.10 Unrecognised rental and lease commitments2022
DKK2021
DKKLiabilities under rental or lease agreements until maturity in total4,8394,81311 Contingent liabilitiesThe Entity participates in a Danish joint taxation
arrangement where DKT A/S 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.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.falseRecognition and measurementAssets are recognised in the balance sheet when it is probable as a result of a prior event that future economic
benefits will flow to the Entity, and the value of the asset can be measured reliably.
Liabilities are recognised in the balance sheet when the Entity has a legal or constructive obligation as a
result of a prior event, and it is probable that future economic benefits will flow out of the Entity, and the
value of the liability can be measured reliably.
On initial recognition, assets and liabilities are measured at cost. Measurement subsequent to initial
recognition is effected as described below for each financial statement item.
Anticipated risks and losses that arise before the time of presentation of the annual report and that confirm
or invalidate affairs and conditions existing at the balance sheet date are considered at recognition and
measurement.
Income is recognised in the income statement when earned, whereas costs are recognised by the amounts
attributable to this financial year.Gross profit or lossThe items revenue, cost of sales, other
operating income and external expenses have
been aggregated into one item in the income
statement called gross profit in accordance with
section 32 of the Danish Financial Statements
Act.RevenueRevenue from the sale of manufactured goods and goods for resale is recognised in the income statement
when delivery is made and risk has passed to the buyer. Revenue is recognised net of VAT, duties and
sales discounts and is measured at fair value of the consideration fixed.Other operating incomeOther operating income comprises income of a secondary nature as viewed in relation to the Entity’s primary
activities.Cost of salesCost of sales includes the cost of goods used in
generating the year's revenue.Other external expensesOther external expenses include the year's
expenses relating to the Company's core
activities, including expenses relating to
distribution, sale, advertising, administration,
premises, bad debts, payments under operating
leases, etc.Staff costsStaff costs include wages and salaries, including
compensated absence and pension to the
Company's employees, as well as other social
security contributions, etc. The item is net of refunds from public authorities.Depreciation, amortisation and impairment lossesThe item comprises amortisation/depreciation
of intangible assets and property, plant and
equipment
The basis of depreciation, which is calculated as
cost less any residual value, is depreciated on a
straight line basis over the expected useful life.
The expected useful lives of the assets are as
follows:
Fixtures and fittings, other plant and equipment 3-5 years
Acquired intangible assets 3-5 years Other financial income and expensesFinancial income and expenses are recognised
in the income statements at the amounts that
concern the financial year. Net financials
include interest income and expenses as well as
allowances and surcharges under the advancepayment-
of-tax scheme, etc.Other financial expensesOther financial expenses comprise interest expenses, including interest expenses on payables to group
enterprises, net capital or exchange losses on securities, payables and transactions in foreign currencies,
amortisation of financial liabilities, and tax surcharge under the Danish Tax Prepayment Scheme etc.Tax on profit/loss for the yearTax for the year includes current tax on the year's expected taxable income and the year's
deferred tax adjustments. The portion of the tax
for the year that relates to the profit/loss for
the year is recognised in the income statement,
whereas the portion that relates to transactions
taken to equity is recognised 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).Intellectual property rights etc.Other intangible assets include development
projects and other acquired intangible rights,
including software licences, distribution rights
and development projects.Other intangible assets are measured at cost
less accumulated amortisation and impairment
losses.
Intellectual property rights etc. are written down to the lower of recoverable amount and carrying amount.Property, plant and equipmentOther fixtures and fittings, tools and equipment are
measured at cost less accumulated depreciation and impairment losses. Land is not depreciated.
Cost comprises the acquisition price, costs directly attributable to the acquisition and preparation costs of
the asset until the time when it is ready to be put into operation.
The basis of depreciation is cost less estimated residual value after the end of useful life. Straight-line
depreciation is made on the basis of the following estimated useful lives of the assets:Investments
Deposits include rental deposits, which are
recognised and measured at cost. Deposit is not
amortised.Impairment of fixed assetsThe carrying amount of intangible assets and property, plant and equipment is assessed for
impairment on an annual basis
Impairment tests are conducted on assets or groups of assets when there is evidence of
impairment. The carrying amount of impaired
assets is reduced to the higher of the net selling
price and the value in use (recoverable
amount).
The recoverable amount is the higher of the net
selling price of an asset and its value in use. The
value in use is calculated as the present value of
the expected net cash flows from the use of the
asset or the group of assets and the expected
net cash flows from the disposal of the asset or
the group of assets after the end of the useful
life.
Previously recognised impairment losses are
reversed when the reason for recognition no
longer exists. Impairment losses on goodwill are
not reversed.InventoriesInventories are measured at cost in accordance
with the FIFO method. Where the net realisable
value is lower than cost, inventories are written
down to this lower value. The net realisable
value of inventories is calculated as the sales
amount less costs of completion and expenses
required to effect the sale and is determined
taking into account marketability, obsolescence
and development in the expected selling price.ReceivablesReceivables are measured at amortised cost.
The Company has chosen IAS 39 as
interpretation for impairment of financial
receivables.
An impairment loss is recognised if there is
objective evidence that a receivable or a group
of receivables is impaired. If there is objective
evidence that an individual receivable has been
impaired, an impairment loss is recognised on
an individual basis.
Receivables in respect of which there is no
objective evidence of individual impairment are tested for objective evidence of impairment on
a portfolio basis. The portfolios are primarily
based on the debtors' domicile and credit
ratings in line with the Company's risk
management policy. The objective evidence
applied to portfolios is determined based on
historical loss experience.
Impairment losses are calculated as the
difference between the carrying amount of the
receivables and the present value of the
expected cash flows, including the realisable
value of any collateral received. The effective
interest rate for the individual receivable or
portfolio is used as discount rate.PrepaymentsPrepayments comprise incurred costs relating to subsequent financial years. Prepayments are measured at
cost.CashCash comprise cash and short term securities
which are readily convertible into cash and
subject only to minor risks of changes in value.DividendDividend is recognised as a liability at the time of adoption at the general meeting. Proposed dividend for
the financial year is disclosed as a separate item in equity.Proposed dividendsDividend proposed for the year is recognised as
a liability once adopted at the annual general
meeting (declaration date). Dividends expected
to be distributed for the financial year are
presented as a separate item under "Equity".
Provisions
Provisions comprise anticipated expenses relating to warranty commitments, onerous
contracts, restructurings, etc. Provisions are
recognised when the Company has a legal or
constructive obligation at the balance sheet
date as a result of a past event and it is
probable that an outflow of resources
embodying economic benefits will be required
to settle the obligation.
Provisions are measured at net realisable value
or at fair value if the obligation is expected to be
settled far into the future.Income taxes Current tax payables and receivables are
recognised in the balance sheet as the
estimated income tax charge for the year,
adjusted for prior-year taxes and tax paid on account.
Deferred tax is measured according to the
liability method on all temporary differences
between the carrying amount and the tax base
of assets and liabilities. However, deferred tax
is not recognised on temporary differences
relating to goodwill which is not deductible for
tax purposes and on office premises and other
items where temporary differences, apart from
business combinations, arise at the date of
acquisition without affecting either profit/loss
for the year or taxable income. Where
alternative tax rules can be applied to
determine the tax base, deferred tax is
measured based on Management's intended use
of the asset or settlement of the liability,
respectively.
Deferred tax is measured according to 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. Deferred
tax assets are recognised at the expected value
of their utilisation; 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. Changes in deferred tax due to changes in the tax rate are recognised in the income
statement.LiabilitiesLiabilities are measured at net realisable value.
Deferred incomeDeferred income recognised as a liability
comprises payments received concerning
income in subsequent financial reporting years.2023-06-18Joachim Döring