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rsrapport</c:InformationOnTypeOfSubmittedReport><c:IdentificationNumberCvrOfSubmittingEnterprise contextRef="c1">15915641</c:IdentificationNumberCvrOfSubmittingEnterprise><c:NameOfSubmittingEnterprise contextRef="c1">Christensen Kjærulff, Statsautoriseret Revisionsaktieselskab</c:NameOfSubmittingEnterprise><c:AddressOfSubmittingEnterpriseStreetAndNumber contextRef="c1">Store Kongensgade, 68</c:AddressOfSubmittingEnterpriseStreetAndNumber><c:AddressOfSubmittingEnterprisePostcodeAndTown contextRef="c1">1264, København K</c:AddressOfSubmittingEnterprisePostcodeAndTown><c:PrecedingReportingPeriodStartDate contextRef="c1">2019-01-01</c:PrecedingReportingPeriodStartDate><c:PredingReportingPeriodEndDate contextRef="c1">2019-12-31</c:PredingReportingPeriodEndDate><c:ReportingPeriodStartDate contextRef="c1">2020-01-01</c:ReportingPeriodStartDate><c:ReportingPeriodEndDate contextRef="c1">2020-12-31</c:ReportingPeriodEndDate><c:IdentificationNumberCvrOfReportingEntity contextRef="c1">29149860</c:IdentificationNumberCvrOfReportingEntity><c:NameOfReportingEntity contextRef="c1">Covivio Berlin IV ApS</c:NameOfReportingEntity><c:AddressOfReportingEntityStreetName contextRef="c1">Store Kongensgade</c:AddressOfReportingEntityStreetName><c:AddressOfReportingEntityStreetBuildingIdentifier contextRef="c1">68</c:AddressOfReportingEntityStreetBuildingIdentifier><c:AddressOfReportingEntityPostCodeIdentifier contextRef="c1">1264</c:AddressOfReportingEntityPostCodeIdentifier><c:AddressOfReportingEntityDistrictName contextRef="c1">København K</c:AddressOfReportingEntityDistrictName><c:DateOfFoundationOfReportingEntity contextRef="c1">2005-07-01</c:DateOfFoundationOfReportingEntity><d:NameOfAuditFirm contextRef="c37">Christensen Kjærulff, Statsautoriseret Revisionsaktieselskab</d:NameOfAuditFirm><d:IdentificationNumberCvrOfAuditFirm contextRef="c37">15915641</d:IdentificationNumberCvrOfAuditFirm><d:NameAndSurnameOfAuditor contextRef="c37">Iver Haugsted</d:NameAndSurnameOfAuditor><d:DescriptionOfAuditor contextRef="c37">statsautoriseret revisor</d:DescriptionOfAuditor><d:IdentificationNumberOfAuditor contextRef="c37">mne10678</d:IdentificationNumberOfAuditor><c:AddressOfAuditorStreetName contextRef="c37">Store Kongensgade</c:AddressOfAuditorStreetName><c:AddressOfAuditorStreetBuildingIdentifier contextRef="c37">68</c:AddressOfAuditorStreetBuildingIdentifier><c:AddressOfAuditorPostCodeIdentifier contextRef="c37">1264</c:AddressOfAuditorPostCodeIdentifier><c:AddressOfAuditorDistrictName contextRef="c37">København K</c:AddressOfAuditorDistrictName><c:AddressOfAuditorCountry contextRef="c37">Danmark</c:AddressOfAuditorCountry><c:TelephoneNumberOfAuditor contextRef="c37">+45 33 30 15 15</c:TelephoneNumberOfAuditor><c:EmailOfAuditor contextRef="c1">ck@ck.dk</c:EmailOfAuditor><c:DateOfGeneralMeeting contextRef="c1">2021-06-29</c:DateOfGeneralMeeting><c:NameAndSurnameOfChairmanOfGeneralMeeting contextRef="c1">Daniel 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decimals="-3">307715000</e:LiabilitiesAndEquity><e:InvestmentsGross contextRef="c113" unitRef="u0" decimals="-3">76042000</e:InvestmentsGross><e:InvestmentsGross contextRef="c114" unitRef="u0" decimals="-3">76042000</e:InvestmentsGross><e:InvestmentsGross contextRef="c117" unitRef="u0" decimals="-3">76042000</e:InvestmentsGross><e:InvestmentsGross contextRef="c118" unitRef="u0" decimals="-3">76042000</e:InvestmentsGross><e:AccumulatedRevaluationsOfInvestments contextRef="c113" unitRef="u0" decimals="-3">231673000</e:AccumulatedRevaluationsOfInvestments><e:AccumulatedRevaluationsOfInvestments contextRef="c114" unitRef="u0" decimals="-3">185013000</e:AccumulatedRevaluationsOfInvestments><e:ProfitLossRelatedToInvestments contextRef="c115" unitRef="u0" decimals="-3">22035000</e:ProfitLossRelatedToInvestments><e:ProfitLossRelatedToInvestments contextRef="c116" unitRef="u0" decimals="-3">46660000</e:ProfitLossRelatedToInvestments><e:AccumulatedRevaluationsOfInvestments contextRef="c117" unitRef="u0" decimals="-3">253708000</e:AccumulatedRevaluationsOfInvestments><e:AccumulatedRevaluationsOfInvestments contextRef="c118" unitRef="u0" decimals="-3">231673000</e:AccumulatedRevaluationsOfInvestments><e:LongtermInvestmentsAndReceivables contextRef="c117" unitRef="u0" decimals="-3">329750000</e:LongtermInvestmentsAndReceivables><e:LongtermInvestmentsAndReceivables contextRef="c118" unitRef="u0" decimals="-3">307715000</e:LongtermInvestmentsAndReceivables><e:RelatedEntityName contextRef="c324">Covivio Quadriga IV GmbH</e:RelatedEntityName><e:RelatedEntityLegalForm contextRef="c324">GmbH</e:RelatedEntityLegalForm><e:RelatedEntityRegisteredOffice contextRef="c324">Germany</e:RelatedEntityRegisteredOffice><e:ShareHeldByEntityOrConsolidatedEnterprisesInRelatedEntity contextRef="c325" unitRef="u8" decimals="1">94.9</e:ShareHeldByEntityOrConsolidatedEnterprisesInRelatedEntity><e:Equity contextRef="c325" unitRef="u0" decimals="INF">226157</e:Equity><e:ProfitLoss contextRef="c324" unitRef="u0" decimals="INF">5546</e:ProfitLoss><e:Equity contextRef="c119" unitRef="u0" decimals="-3">269000</e:Equity><e:Equity contextRef="c478" unitRef="u0" decimals="-3">269000</e:Equity><e:Equity contextRef="c121" unitRef="u0" decimals="-3">269000</e:Equity><e:Equity contextRef="c480" unitRef="u0" decimals="-3">269000</e:Equity><e:Equity contextRef="c131" unitRef="u0" decimals="-3">231673000</e:Equity><e:Equity contextRef="c493" unitRef="u0" decimals="-3">185013000</e:Equity><e:ProfitLoss contextRef="c133" unitRef="u0" decimals="-3">22035000</e:ProfitLoss><e:ProfitLoss contextRef="c494" unitRef="u0" decimals="-3">46660000</e:ProfitLoss><e:Equity contextRef="c132" unitRef="u0" decimals="-3">253708000</e:Equity><e:Equity contextRef="c495" unitRef="u0" decimals="-3">231673000</e:Equity><e:Equity contextRef="c137" unitRef="u0" decimals="-3">75671000</e:Equity><e:Equity contextRef="c498" unitRef="u0" decimals="-3">75693000</e:Equity><e:ProfitLoss contextRef="c138" unitRef="u0" decimals="-3">-26412000</e:ProfitLoss><e:ProfitLoss contextRef="c499" unitRef="u0" decimals="-3">-22000</e:ProfitLoss><e:Equity contextRef="c139" unitRef="u0" decimals="-3">49259000</e:Equity><e:Equity contextRef="c500" unitRef="u0" decimals="-3">75671000</e:Equity><e:Dividend contextRef="c141" unitRef="u0" decimals="-3">26370000</e:Dividend><e:Dividend contextRef="c502" unitRef="u0" decimals="-3">0</e:Dividend><e:Equity contextRef="c142" unitRef="u0" decimals="-3">26370000</e:Equity><e:Equity contextRef="c503" unitRef="u0" decimals="-3">0</e:Equity><g:IdentificationOfApprovedAnnualReport contextRef="c1" xml:lang="en">Today, the executive board has presented the annual report of Covivio Berlin IV ApS for the financial year 1 January - 31 December 2020.
</g:IdentificationOfApprovedAnnualReport><g:ConfirmationThatAnnualReportIsPresentedInAccordanceWithRequirementsProvidedForByLegislationAnyStandardsAndRequirementsProvidedByArticlesOfAssociationOrByAgreement contextRef="c1" xml:lang="en">The annual report has been presented in accordance with the Danish Financial Statements Act.
</g:ConfirmationThatAnnualReportIsPresentedInAccordanceWithRequirementsProvidedForByLegislationAnyStandardsAndRequirementsProvidedByArticlesOfAssociationOrByAgreement><g:ConfirmationThatFinancialStatementGivesTrueAndFairViewOfAssetsLiabilitiesEquityFinancialPositionAndResults contextRef="c1" xml:lang="en">We consider the accounting policies appropriate and, in our opinion, the financial statements provide a fair presentation of the companyâs assets, equity and liabilities, and financial position at 31 December 2020 and of the companyâs results of activities in the financial year 1 January â 31 December 2020.
</g:ConfirmationThatFinancialStatementGivesTrueAndFairViewOfAssetsLiabilitiesEquityFinancialPositionAndResults><g:ManagementsStatementAboutManagementsReview contextRef="c1" xml:lang="en">We are of the opinion that the management commentary presents a fair account of the issues dealt with.
</g:ManagementsStatementAboutManagementsReview><g:RecommendationForApprovalOfAnnualReportByGeneralMeeting contextRef="c1" xml:lang="en">We recommend that the annual report be approved by the general meeting.
</g:RecommendationForApprovalOfAnnualReportByGeneralMeeting><d:NameAndSurnameOfMemberOfExecutiveBoard contextRef="c29">Arnaud Brément</d:NameAndSurnameOfMemberOfExecutiveBoard><d:NameAndSurnameOfMemberOfExecutiveBoard contextRef="c28">Myriam Despas</d:NameAndSurnameOfMemberOfExecutiveBoard><d:NameAndSurnameOfMemberOfExecutiveBoard contextRef="c30">Mette-Lise Vraa</d:NameAndSurnameOfMemberOfExecutiveBoard><f:OpinionOnAuditedFinancialStatements contextRef="c1" xml:lang="en">We have audited the financial statements of Covivio Berlin IV ApS for the financial year 1 January - 31 December 2020, which comprise income statement, statement of financial position, statement of changes in equity, notes and accounting policies. The financial statements have been prepared in accordance with the Danish Financial Statements Act.
In our opinion, the financial statements present a fair view of the company's assets, equity and liabilities, and financial position at 31 December 2020 and of the results of the company's activities for the financial year 1 January - 31 December 2020 in accordance with the Danish Financial Statements Act.
</f:OpinionOnAuditedFinancialStatements><f:DescriptionOfQualificationsOfAuditedFinancialStatements contextRef="c1" xml:lang="en">Basis for opinion
We conducted our audit in accordance with international standards on auditing and the additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the section âAuditorâs responsibilities for the audit of the financial statementsâ. We are independent of the company in accordance with international ethical requirements for auditors (IESBAâs Code of Ethics), and the additional requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
</f:DescriptionOfQualificationsOfAuditedFinancialStatements><f:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements contextRef="c1" xml:lang="en">Management is responsible for the preparation of financial statements that provide a fair view in accordance with the Danish Financial Statements Act. Management is also responsible for such internal control as the 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 unless management either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.
</f:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements><f:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed contextRef="c1" xml:lang="en">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 auditorâs report including an opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with international standards on auditing, 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 international standards on auditing, and the additional requirements applicable in Denmark, we exercise professional judgment 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 the 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 managementâs preparation of the financial statements using the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists arising from 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 auditorâs 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 auditorâs 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 disclosures in notes, and whether the financial statements reflect the underlying transactions and events in a manner that presents a 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 the internal control that we identify during our audit.
</f:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed><f:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements contextRef="c1" xml:lang="en">Statement on the management commentary
Management is responsible for the management commentary.
Our opinion on the financial statements does not cover the management commentary, and we express no assurance opinion thereon.
In connection with our audit of the financial statements, it is our responsibility to read the management commentary and to consider whether the management commentary is materially inconsistent with the financial statements or the evidence obtained during the audit, or whether it otherwise appears to contain material misstatement.
Furthermore, it is our responsibility to consider whether the management commentary provides the information required under the Danish Financial Statements Act.
Based on the work we have performed, we believe that management commentary is consistent with the financial statements and that it has been prepared in accordance with the provisions of the Danish Financial Statement Act. We did not discover any material misstatement in the management commentary.
</f:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements><e:GrossResult contextRef="c184" unitRef="u0" decimals="-3">-22000</e:GrossResult><e:GrossResult contextRef="c187" unitRef="u0" decimals="-3">24000</e:GrossResult><e:GrossResult contextRef="c190" unitRef="u0" decimals="-3">721000</e:GrossResult><e:ProfitLossFromOrdinaryOperatingActivities contextRef="c184" unitRef="u0" decimals="-3">-23000</e:ProfitLossFromOrdinaryOperatingActivities><e:ProfitLossFromOrdinaryOperatingActivities contextRef="c187" unitRef="u0" decimals="-3">24000</e:ProfitLossFromOrdinaryOperatingActivities><e:ProfitLossFromOrdinaryOperatingActivities contextRef="c190" unitRef="u0" decimals="-3">201000</e:ProfitLossFromOrdinaryOperatingActivities><e:ResultsFromNetFinancials contextRef="c1" unitRef="u0" decimals="-3">-22035000</e:ResultsFromNetFinancials><e:ResultsFromNetFinancials contextRef="c2" unitRef="u0" decimals="-3">-46660000</e:ResultsFromNetFinancials><e:ResultsFromNetFinancials contextRef="c184" unitRef="u0" decimals="-3">28025000</e:ResultsFromNetFinancials><e:ResultsFromNetFinancials contextRef="c187" unitRef="u0" decimals="-3">49930000</e:ResultsFromNetFinancials><e:ResultsFromNetFinancials contextRef="c190" unitRef="u0" decimals="-3">60910000</e:ResultsFromNetFinancials><e:ProfitLoss contextRef="c184" unitRef="u0" decimals="-3">28002000</e:ProfitLoss><e:ProfitLoss contextRef="c187" unitRef="u0" decimals="-3">49954000</e:ProfitLoss><e:ProfitLoss contextRef="c190" unitRef="u0" decimals="-3">61111000</e:ProfitLoss><e:Assets contextRef="c186" unitRef="u0" decimals="-3">261055000</e:Assets><e:Assets contextRef="c189" unitRef="u0" decimals="-3">233030000</e:Assets><e:Assets contextRef="c192" unitRef="u0" decimals="-3">188462000</e:Assets><e:Equity contextRef="c186" unitRef="u0" decimals="-3">260975000</e:Equity><e:Equity contextRef="c189" unitRef="u0" decimals="-3">232973000</e:Equity><e:Equity contextRef="c192" unitRef="u0" decimals="-3">188388000</e:Equity><h:EquityRatio contextRef="c1" unitRef="u8" decimals="1">100</h:EquityRatio><h:EquityRatio contextRef="c2" unitRef="u8" decimals="1">100</h:EquityRatio><h:EquityRatio contextRef="c184" unitRef="u8" decimals="1">100</h:EquityRatio><h:EquityRatio contextRef="c187" unitRef="u8" decimals="1">100</h:EquityRatio><h:EquityRatio contextRef="c190" unitRef="u8" decimals="1">100</h:EquityRatio><h:ReturnOnEquity contextRef="c1" unitRef="u8" decimals="1">6.9</h:ReturnOnEquity><h:ReturnOnEquity contextRef="c2" unitRef="u8" decimals="1">16.4</h:ReturnOnEquity><h:ReturnOnEquity contextRef="c184" unitRef="u8" decimals="1">11.3</h:ReturnOnEquity><h:ReturnOnEquity contextRef="c187" unitRef="u8" decimals="1">23.7</h:ReturnOnEquity><h:ReturnOnEquity contextRef="c190" unitRef="u8" decimals="1">64.9</h:ReturnOnEquity><h:DescriptionOfPrimaryActivitiesOfEntity contextRef="c1" xml:lang="en">The principal activities of the company
The principal activities are majority ownership to the shares in Covivio Quadriga IV GmbH, operating within the German real estate market.
</h:DescriptionOfPrimaryActivitiesOfEntity><h:DescriptionOfAnyUnusualMattersAffectingRecognitionOrMeasurement contextRef="c1" xml:lang="en">Unusual circumstances
The company has not been affected by the Covid-19 pandemic in the same way as a large number of other companies. The financial position and the result in the financial year 2020 are not significantly affected by the consequences of the Covid-19 pandemic.
</h:DescriptionOfAnyUnusualMattersAffectingRecognitionOrMeasurement><h:DescriptionOfAnyUncertaintyConnectedWithRecognitionOrMeasurement contextRef="c1" xml:lang="en">Uncertainties about recognition or measurement
No uncertainties as to recognition or measurement.
</h:DescriptionOfAnyUncertaintyConnectedWithRecognitionOrMeasurement><h:DescriptionOfDevelopmentInActivitiesAndFinancialAffairs contextRef="c1" xml:lang="en">Development in activities and financial matters
The gross loss for the year totals t.EUR -41 against t.EUR -22 last year. Income from ordinary activities after tax totals t.EUR 21.993 against t.EUR 46.638 last year. Management considers the net profit for the year satisfactory.
</h:DescriptionOfDevelopmentInActivitiesAndFinancialAffairs><e:DisclosureOfTreasuryShares contextRef="c1" xml:lang="en">Treasury shares
The enterpriseâ holding of own shares is 114.643 shares of EUR 0,134 each, corresponding to 5,73 % of the contributed capital.
</e:DisclosureOfTreasuryShares><h:DescriptionOfExpectedDevelopment contextRef="c1" xml:lang="en">Expected developments
The management expects a positive result for 2021.
</h:DescriptionOfExpectedDevelopment><h:DescriptionOfSignificantEventsOccurringAfterEndOfReportingPeriod contextRef="c1" xml:lang="en">Events occurring after the end of the financial year
No events have occured subsequent to the balance sheet date, which would have material impact on the financial position of the company.
</h:DescriptionOfSignificantEventsOccurringAfterEndOfReportingPeriod><e:DisclosureOfContingentLiabilities contextRef="c1" xml:lang="en">3. Contingencies
Joint taxation
With Covivio Dansk Holding ApS, company reg. no 30535723 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.
As from 1 July 2012, 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.
The jointly taxed enterprises' total known net liability to the Danish tax authorities emerges from the financial statements of the administration company.
Any subsequent adjustments of corporate taxes or withholding tax, etc., may result in changes in the company's liabilities.
</e:DisclosureOfContingentLiabilities><e:InformationOnRelatedEntities contextRef="c1" xml:lang="en">4. Related parties
Controlling interest
Covivio Dansk Holding ApS
Store Kongensgade 68
1264 Copenhagen K
Denmark
Majority shareholder
Transactions
All transactions have taken place on arm's-lengths basis.
Consolidated financial statements
The company is included in the consolidated annual accounts of Covivio Immobilien SE, Essener Str. 66, D-46047 Oberhausen, Germany.
</e:InformationOnRelatedEntities><e:InformationOnReportingClassOfEntity contextRef="c1" xml:lang="en">The annual report for Covivio Berlin IV ApS has been presented in accordance with the Danish Financial Statements Act regulations concerning reporting class C enterprises (medium sized enterprises).
The accounting policies are unchanged from the previous year, and the annual report is presented in euro (EUR).
</e:InformationOnReportingClassOfEntity><e:InformationOnOmissionOfConsolidatedFinancialStatement contextRef="c1" xml:lang="en">No consolidated financial statements have been prepared pursuant to section 112 (1) of the Danish Financial Statements Act. The financial statements of Covivio Berlin IV ApS and its group enterprises are included in the consolidated financial statements for Covivio Immobilien SE, Germany, reg. no. 26385.
</e:InformationOnOmissionOfConsolidatedFinancialStatement><e:ExplanationOfNotDisclosingCashFlowsStatements contextRef="c1" xml:lang="en">Pursuant to section 86 (4) of the Danish Financial Statements Act, no statement of cash flows for the enterprise has been prepared, as the relevant information is included in the consolidated financial statements of Covivio Immobilien SE.
The consolidated annual accounts for Covivio Immobilien SE can be found on the following link: https://www.unternehmensregister.de/ureg/result.html
</e:ExplanationOfNotDisclosingCashFlowsStatements><e:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfRevenue contextRef="c1" xml:lang="en">Gross loss
Gross loss comprises external costs.
</e:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfRevenue><e:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfExternalExpenses contextRef="c1" xml:lang="en">Other external costs comprise costs incurred for sales and administration.
</e:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfExternalExpenses><e:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfOtherOperatingExpenses contextRef="c1" xml:lang="en">Other operating costs
Other operating costs comprise items of secondary nature as regards the principal activities of the enterprise, including losses on the disposal of intangible and tangible assets.
</e:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfOtherOperatingExpenses><e:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfIncomeAndExpensesFromInvestmentsInGroupEnterprisesAndAssociates contextRef="c1" xml:lang="en">Results from equity investments in group enterprises
After full elimination of intercompany profit or loss less amortised consolidated goodwill, the equity investment in the individual group enterprises are recognised in the income statement as a proportional share of the group enterprises' post-tax profit or loss.
</e:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfIncomeAndExpensesFromInvestmentsInGroupEnterprisesAndAssociates><e:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfTaxExpenses contextRef="c1" xml:lang="en">Tax on net profit or loss for the year
Tax 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).
</e:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfTaxExpenses><e:DescriptionOfMethodsOfRecognitionAndMeasurementBasisForInvestmentsInSubsidiariesAndAssociates contextRef="c1" xml:lang="en">Equity investments in group enterprises
Equity investments in group enterprises are recognised and measured by applying the equity method. The equity method is used as a method of consolidation.
Equity investments in group enterprises recognised in the statement of financial position at the proportionate share of the enterprise's equity value. This value is calculated in accordance with the parent's accounting policies with deductions or additions of unrealised intercompany gains and losses as well as with additions or deductions of the remaining value of positive or negative goodwill calculated in accordance with the acquisition method. Negative goodwill is recognised in the income statement at the time of acquisition of the equity investment. If the negative goodwill relates to contingent liabilities acquired, negative goodwill is not recognised until the contingent liabilities have been settled or lapsed.
Consolidated goodwill is amortised over its estimated useful life, which is determined on the basis of the management's experience with the individual business areas. Consolidated goodwill is amortised on a straight-line basis over the amortisation period, which represent 5-20 years. The depreciation period is determined on the basis of an assessment that these are strategically acquired enterprises with a strong market position and a long-term earnings profile.
In relation to material assets and liabilities recognised in group enterprises, associates and equity interests but are not represented in the parent, the following accounting policies have been applied.
Equity investments in group enterprises with a negative equity value measured at EUR 0, and any accounts receivable from these enterprises are written down to the extent that the account receivable is uncollectible. To the extent that the parent has a legal or constructive obligation to cover a negative balance that exceeds the account receivable, the remaining amount is recognised under provisions.
To the extent the equity exceeds the cost, the net revaluation of equity investments in group enterprises are transferred to the reserve under equity for net revaluation according to the equity method. Dividends from group enterprises expected to be adopted before the approval of this annual report are not subject to a limitation of the revaluation reserve. The reserve is adjusted by other equity movements in group enterprises.
Newly acquired or newly established companies are recognised in the financial statement as of the time of acquisition. Sold or liquidated companies are recognised until the date of disposal.
On the acquisition of enterprises, the acquisition method, the uniting-of-interests method or the book value method is applied, cf. the above description under Business combinations.
</e:DescriptionOfMethodsOfRecognitionAndMeasurementBasisForInvestmentsInSubsidiariesAndAssociates><e:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfEquity contextRef="c1" xml:lang="en">Equity
Reserve for net revaluation according to the equity method
The reserve for net revaluation according to the equity method comprises net revaluation of equity investments in subsidiaries, associates and equity interests proportional to cost.
The reserve may be eliminated in the event of losses, realisation of equity investments, or changes in the accounting estimates.
The reserve cannot be recognised by a negative amount.
</e:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfEquity><e:DescriptionOfMethodsOfDividends contextRef="c1" xml:lang="en">Dividend
Dividend expected to be distributed for the year is recognised as a separate item under equity.
</e:DescriptionOfMethodsOfDividends><e:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfTaxPayablesAndDeferredTax contextRef="c1" xml:lang="en">Income tax and deferred tax
Current 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.
According to the rules of joint taxation, Covivio Berlin IV 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.
</e:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfTaxPayablesAndDeferredTax><e:DescriptionOfMethodsOfRecognitionAndMeasurementBasisOfLiabilitiesOtherThanProvisions contextRef="c1" xml:lang="en">Liabilities other than provisions
Other liabilities concerning payables to suppliers, group enterprises, and other payables are measured at amortised cost which usually corresponds to the nominal value.
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