45641821 2025-05-28 2026-03-31 45641821 2025-05-28 2026-03-31 1 45641821 2026-03-31 45641821 2025-05-28 2026-03-31 d:DevelopmentProjectsInProgressMember 45641821 2026-03-31 d:DevelopmentProjectsInProgressMember 45641821 2025-05-28 d:ContributedCapitalMember 45641821 2026-03-31 d:ContributedCapitalMember 45641821 2025-05-28 2026-03-31 d:ReserveForDevelopmentExpenditureMember 45641821 2026-03-31 d:ReserveForDevelopmentExpenditureMember 45641821 2025-05-28 2026-03-31 d:RetainedEarningsMember 45641821 2026-03-31 d:RetainedEarningsMember 45641821 2025-05-28 2026-03-31 1 45641821 2025-05-28 2026-03-31 2 iso4217:DKK xbrli:pure Årsrapport 34209936 Grant Thornton, Godkendt Revisionspartnerselskab Lautrupsgade, 11 2100, København Ø 2025-05-28 2026-03-31 45641821 Ambler Tech ApS Nordre Fasanvej 113 2000 Frederiksberg Grant Thornton, Godkendt Revisionspartnerselskab 34209936 Sebastian Frøkjær-Lorendsen statsautoriseret revisor mne51495 Lautrupsgade 11 2100 København Ø Danmark +45 33 110 220 info@dk.gt.com 2026-09-07 Alexander Mørch Pedersen Regnskabsklasse B Andre erklæringer uden sikkerhed Ja CaseWare fra Revisorgruppen Danmark København 2026-09-07 Frederiksberg 2026-09-07 633548 826106 -192558 -192558 -192558 -643559 451001 578207 578207 578207 17933 17933 608694 626627 1204834 0 20000 451001 -643559 -172558 27500 1349892 1377392 1377392 1204834 821156 4950 826106 2 578207 578207 578207 20000 20000 451001 451001 -643559 -643559 Today, the Executive Board has approved the annual report of Ambler Tech ApS for the financial year 28 May 2025 - 31 March 2026. The annual report has been prepared in accordance with the Danish Financial Statements Act. We consider the chosen accounting policy to be appropriate, and in our opinion, the financial statements give a true and fair view of the financial position of the Company at 31 March 2026 and of the results of the Company's operations for the financial year 28 May 2025 – 31 March 2026. The Executive Board consider the conditions for audit exemption of the 2025/26 financial statements to be met. Further, in our opinion, the Management's review gives a true and fair review of the matters discussed in the Management's review. We recommend that the annual report be approved at the Annual General Meeting. Alexander Mørch Pedersen Kristian Mortensen We have compiled the financial statements of Ambler Tech ApS for the financial year 28 May 2025 - 31 March 2026 based on the company's bookkeeping and on information you have provided. These financial statements comprise income statement, balance sheet, statement of changes in equity and notes, including a summary of significant accounting policies. We performed this compilation engagement in accordance with International Standard on Related Services 4410 (Revised), Compilation Engagements. We have applied our expertise in accounting and financial reporting to assist Management in the preparation and presentation of these financial statements in accordance with the Danish Financial Statements Act. We have complied with relevant requirements under the Danish Act on Approved Auditors and Audit Firms and International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code) including principles of integrity, objectivity, professional competence and due care. These financial statements and the accuracy and completeness of the information used to compile them are your responsibility. Since a compilation engagement is not an assurance engagement, we are not required to verify the accuracy or completeness of the information you provided to us to compile these financial statements. Accordingly, we do not express an audit opinion or a review conclusion on whether these financial statements are prepared in accordance with the Danish Financial Statements Act. Description of key activities of the companyThe Company’s principal activities comprise the development and operation of a digital platform for music metadata management. The platform supports the registration of musical works, confirmation of credits and splits, and delivery of metadata to collection societies and distributors. The Company’s solutions are aimed at artists, labels, and self-releasing artists. Significant changes in the company's activities and financial mattersThe gross profit for the year totals DKK 633.548. Profit or loss from ordinary activities after tax totals DKK -192.558. Management considers the net profit or loss for the year satisfactory. Capital loss At the balance sheet date, the Company’s equity was less than half of the subscribed share capital. The Company is therefore subject to the capital loss provisions of section 119 of the Danish Companies Act. Management expects the equity to be re-established through future profitable operations. Events occurring after the end of the financial yearSubsequent to the balance sheet date, debt of DKK 1,300 thousand was converted into equity, and the Company completed a cash capital increase of DKK 300 thousand. Apart from this, no material events have occurred subsequent to the balance sheet date that would affect the assessment of the financial statements. Accounting policiesThe annual report for Ambler Tech ApS has been presented in accordance with the Danish Financial Statements Act regulations concerning reporting class B enterprises. Furthermore, the company has decided to comply with certain rules applying to reporting class C enterprises. The annual report is presented in DKK. The annual report comprises the first financial year and hence comparative figures are not available. Recognition and measurement in generalIncome is recognised in the income statement concurrently with its realisation, including the recognition of value adjustments of financial assets and liabilities. Likewise, all costs are recognised in the income statement, including depreciations amortisations, write-downs for impairment, provisions, and reversals due to changes in estimated amounts previously recognised in the income statement. Assets are recognised in the statement of financial position when it seems probable that future economic benefits will flow to the company and the value of the asset can be reliably measured. Liabilities are recognised in the statement of financial position when it is seems probable that future economic benefits will flow out of the company and the value of the liability can be reliably measured. Gross profitGross profit comprises the revenue, own work capitalised, other operating income, and external costs. Revenue The enterprise will be applying IAS 18 as its basis of interpretation for the recognition of revenue. Revenue comprises the value of services provided during the year, including outlay for customers less VAT and price concessions directly associated with the sale. Revenue is recognised in the income statement on the completion of sales. This is generally considered to be the case when:The service has been provided before the end of the financial yearA binding sales agreement existsThe sales price has been determinedPayment has been received, or is anticipated with a reasonable degree of certainty. This ensures that recognition does not take place until the total income and costs and stage of completion at the reporting date can be reliably validated and it seems probable that the economic benefits, including payments, will flow to the enterprise. Own work capitalisedOwn work capitalised includes staff cost and other internal costs incurred during the financial year and recognised in the cost of proprietary intangible and tangible fixed assets. Other external expenses Other external expenses comprise expenses incurred for distribution, sales, advertising, administration, premises, loss on receivables, and operational leasing costs. Staff costsStaff costs include salaries and wages, including holiday allowances, pensions, and other social security costs, etc., for staff members. Tax on net profit or loss for the yearTax for the year comprises the current income tax for the year and changes in deferred tax and is recognised in the income statement with the share attributable to the net profit or loss for the year and directly in equity with the share attributable to entries directly in equity.  The company is subject to Danish rules on compulsory joint taxation of Danish group enterprises. The current Danish income tax is allocated among the jointly taxed companies proportional to their respective taxable income (full allocation with reimbursement of tax losses). Intangible assetsDevelopment projects, patents, and licencesDevelopment costs comprise salaries, wages, and amortisation directly attributable to development activities. Clearly defined and identifiable development projects are recognised as intangible assets provided that they are proven to be technically practicable, that sufficient resources and a potential market or development opportunity exist, and insofar as the intention is to produce, market or utilise the project. It is, however, a condition that the cost can be reliably calculated and that a sufficiently high degree of certainty indicates that future earnings will cover the costs of production, sales, and administration. Other development costs are recognised in the income statement concurrently with their realisation. Development costs recognised in the statement of financial position are measured at cost less accrued amortisations and write-downs for impairment. After completion of the development work, capitalised development costs are amortised on a straight-line basis over the estimated useful economic life. The amortisation period is usually 10 years. Patents and licenses are measured at cost less accrued amortisation. Patents are amortised on a straightline basis over the remaining patent period and licenses are amortised over the contract period, however, for a maximum of 10 years. Profit and loss from the sale of development projects, patents, and licenses are measured as the difference between the sales price less sales costs and the carrying amount at the time of sale. Profit or loss are recognised in the income statement as other operating income or other operating expenses, respectively. Impairment loss relating to non-current assetsThe carrying amount of both intangible and tangible fixed assets are subject to annual impairment tests in order to disclose any indications of impairment beyond those expressed by amortisation and depreciation respectively. If indications of impairment are disclosed, impairment tests are carried out for each individual asset or group of assets, respectively. write-down for impairment is done to the recoverable amount if this value is lower than the carrying amount. The recoverable amount is the higher value of value in use and selling price less expected selling cost. The value in use is calculated as the present value of the expected net cash flows from the use of the asset or the asset group and expected net cash flows from the sale of the asset or the asset group after the end of their useful life. Previously recognised impairment losses are reversed when conditions for impairment no longer exist. Impairment relating to goodwill is not reversed. ReceivablesReceivables are measured at amortised cost, which usually corresponds to nominal value. Cash and cash equivalentsCash and cash equivalents comprise cash at bank and on hand. EquityReserve for development costsThe reserve for development costs comprises recognised development costs less related deferred tax liabilities. The reserve cannot be used as dividends or for covering losses. The reserve is reduced or dissolved if the recognised development costs are amortised or abandoned. This is done by direct transfer to the distributable reserves of the equity. Income tax and deferred taxCurrent tax liabilities and current tax receivable are recognised in the statement of financial position as calculated tax on the taxable income for the year, adjusted for tax of previous years' taxable income and for tax paid on account. The company is jointly taxed with consolidated Danish companies. The current corporate income tax is distributed between the jointly taxed companies in proportion to their taxable income and with full distribution with reimbursement as to tax losses. The jointly taxed companies are comprised by the Danish tax prepayment scheme. Joint taxation contributions payable and receivable are recognised in the statement of financial position as ”Tax receivables from group enterprises" or "Income tax payable to group enterprises" According to the rules of joint taxation, Ambler Tech ApS is unlimitedly, jointly, and severally liable to pay the Danish tax authorities the total income tax, including withholding tax on interest, royalties, and dividends, arising from the jointly taxed group of companies. Deferred tax is measured on the basis of temporary differences in assets and liabilities with a focus on the statement of financial position. Deferred tax is measured at net realisable value. Adjustments take place in relation to deferred tax concerning elimination of unrealised intercompany gains and losses. Deferred tax is measured based on the tax rules and tax rates applying under the legislation prevailing in the respective countries on the reporting date when the deferred tax is expected to be released as current tax. Changes in deferred tax due to changed tax rates are recognised in the income statement, except for items included directly in the equity. Deferred tax assets, including the tax value of tax losses allowed for carryforward, are recognised at the value at which they are expected to be realisable, either by settlement against tax of future earnings or by set-off in deferred tax liabilities within the same legal tax unit. Any deferred net tax assets are measured at net realisable value. Liabilities other than provisionsOther liabilities concerning payables to suppliers, group enterprises, and other payables are measured at amortised cost which usually corresponds to the nominal value. 2.Capital lossAt the balance sheet date, the Company’s equity was less than half of the subscribed share capital. The Company is therefore subject to the capital loss provisions of section 119 of the Danish Companies Act. Management expects the equity to be re-established through future profitable operations. Disclosure of assumptions related to development projects The capitalised development projects comprise the continued development of Ambler’s digital platform for registering and managing music metadata and rights information. The platform is intended to improve the quality and transparency of music rights data for artists, labels and other industry participants. In capitalising the development projects, management has assumed that the remaining technical development, testing and user validation can be completed successfully, and that the platform can subsequently be commercialised and scaled. Management expects the platform to reach minimum viable product (MVP) stage in early 2027, from which point the platform is expected to start generating income. Changes in these assumptions, including delays in development or implementation, lower-than-expected user adoption, operational or integration challenges, or adverse technological, regulatory or competitive developments, could lead to material changes in the carrying amount of the capitalised development projects. 5.Contractual obligations and contingencies, etc.Lease liabilities:The company has no lease liabilties as of the balance sheet date. Joint taxationWith Ambler Holding ApS, company reg. no 45638162 as administration company, the company is subject to the Danish scheme of joint taxation and unlimitedly, jointly, and severally liable, along with the other jointly taxed companies, for the total corporation tax. The company is unlimitedly, jointly, and severally liable, along with the other jointly taxed companies, for any obligations to withhold tax on interest, royalties, and dividends.