Assets
| Type | Time | Amount | Unit |
|---|---|---|---|
| ifrs-full:Assets | 2022-12-31 | 2807465000 | dkk |
| ifrs-full:Assets | 2021-12-31 | 3019482000 | dkk |
Revenue
| Type | Start date | End date | Amount | Unit |
|---|---|---|---|---|
| ifrs-full:Revenue | 2022-01-01 | 2022-12-31 | 153281000 | dkk |
| ifrs-full:Revenue | 2021-01-01 | 2021-12-31 | 158264000 | dkk |
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<mrv:StatementOfCorporateSocialResponsibility contextRef="ctx-1" id="s12_notesesefdkgaap__8__42" xml:lang="en">Statutory report CSR Business model Please, refer to the section Main Activity on page 2. Risks related to CSR While Park Street generally and based upon our business model has not identified nor experienced any material risks in relation to CSR, the Company has decided to author and implement policies with respect to environment, climate change, human rights, social and employee conditions and anti-corruption due to our social responsibility in each of the business activities that are performed. CSR is reflected in the way we manage and refurbish our properties, in our relationship with tenants, employees, business partners and any stakeholder that the Group operates with. Policies, activities and results ï§ Environmental and climate conditions: In connection with the re-devolpment and maintenance of the existing assets Park Street is follow-ing all applicable building regulations with the the goal of reducing energy consumptions. In 2022, the Group invested over DKK 96 million in the maintenance and modernization of the existing properties. ï§ Social conditions and employee relations and respect for human rights: Employees are the most important resource for progress, and therefore the Group is constantly working to ensure a healthy physical and mental work environment with a focus on reducing sickness absence. Park Street supports all human rights within national laws as well as international laws, and acknowledges the importance of supporting the local community as well as helping in a larger perspective. In order to support the data protection for individuals, the Group is implementing and continuously improving processes and IT measures to meet the EU GDPR standards. At the same time a policy is getting established for development of future employees. No breach of these policies have been identified in 2022. ï§ Anti-corruption and bribery: The Group is has invested to develop systems for transparently reviewing invoices and implemented a vendor and property specific approval policy and workflows to mitigate any risks related to expenses. The group has established an Anti-corruption policy were employees and business partners are not allowed to receive gifts from suppliers larger than DKK 500. In connection with the ongoing controlling of employees, the Group has strict guidelines on only paying bills according to legal documents with documented expenses, and that prices are benchmarked against usual costs. No corruption has been detected in 2022. </mrv:StatementOfCorporateSocialResponsibility>
<mrv:StatementOfPolicyForDataEthics contextRef="ctx-1" id="s12_notesesefdkgaap__8__43" xml:lang="en">Data ethics: The Park Street Group does not have a formalized policy on data ethics. Park Street only processes data for business purposes. Park Street does not make use of new technologies such as artificial intelligence, advanced algorithms, monitoring and the like. Data processed in Park Street is not made available to third parties. Should there be a desire to make data available to third par-ties, it should be approved by the company's top management. The Park Street Group complies with applicable legislation for the pro-cessing of personal data. As a rule, the Group does not process personal data, apart from what relates to employee data.</mrv:StatementOfPolicyForDataEthics>
<mrv:LinkToCorporateGovernanceReport contextRef="ctx-1" id="s12_notesesefdkgaap__8__44" xml:lang="en">http://www.psnas.com/index.php/corporate-governance-statement/</mrv:LinkToCorporateGovernanceReport>
<mrv:StatementOfTheDiversityPolicies contextRef="ctx-1" id="s12_notesesefdkgaap__8__45" xml:lang="en">Statutory report on diversity in management Park Streetâs board composed at the time of publication of the annual report for 2022 by three men and one woman. In accordance with the Danish Commerce and Industry Agency's (Erhvervsstyrelsens) "Guidelines on targets and Policies for Gender Composition of Management and Reporting on this issue" issued in March 2016, Park Street has a sub-representation of the board (top Management body). Park Street has set a target for the underrepresented gender in the Board of Directors (top Management body). Park Street has chosen that the under-represented sex must be represented by 40% of the board by the end of 2022. Consequently the goal of 40% women in the Board of Directors has not been met yet as no candidates of the underrepresented gender were up for election in the previous year. Since the number of employees in the Group is less than 50, Park Street is not required to develop policies to increase the proportion of under-represented gender in the Group's other management levels, however the percentage of female employees represents 50% of the employees in the Group by the end of 2022. Groupâs overall policy is to employ or promote the best suitable candidates no matter of gender.</mrv:StatementOfTheDiversityPolicies>
<sob:StatementByExecutiveAndSupervisoryBoards contextRef="ctx-1" id="s12_notesesefdkgaap__8__47" xml:lang="en">The Board of Directors and management have today considered and adopted the annual report for the financial year 1 January - 31 December 2022 for Park Street A/S. The annual report is prepared in accordance with International Financial Reporting Standards as adopted by the EU, and further requirements in the Danish Financial Statement Act and rules for listed companies. In our opinion, the consolidated financial statements and the parent company financial statements give a true and fair view of the Group and the Parent's financial position as at 31 December 2022 and of the results ofthe Group's and the Parent Companyâs operations and cash flows for 2022. It is also our opinion that the directors' report contains a true and fair account of the development of the Group's and the parent companyâs activities and financial conditions, the profit for the period and the Group's and the Parent Companyâs financial position as a whole, and a description of the significant risks and uncertainty factors that the Group and the Parent Company faces. In our opinion, the annual report of Park Street A/S for the financial year 1 January to 31 December 2022 with the file name 213800VGJC18MRK-MZC33-2022-12-31-en.zip is prepared, in all material respects, in compliance with the ESEF Regulation. The annual report is submitted to the Ordinary General Meeting for approval.</sob:StatementByExecutiveAndSupervisoryBoards>
<sob:PlaceOfSignatureOfStatement contextRef="ctx-1" id="s12_notesesefdkgaap__8__48" xml:lang="en">Copenhagen</sob:PlaceOfSignatureOfStatement>
<arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements contextRef="ctx-1" id="s12_notesesefdkgaap__8__51" xml:lang="en">To the shareholders of Park Street A/S</arr:AddresseeOfAuditorsReportOnAuditedFinancialStatements>
<arr:OpinionOnAuditedFinancialStatements contextRef="ctx-1" id="s12_notesesefdkgaap__8__52" xml:lang="en">Our opinion In our opinion, the Consolidated Financial Statements and the Parent Company Financial Statements give a true and fair view of the Groupâs and the Parent Companyâs financial position at 31 December 2022 and of the results of the Groupâs and the Parent Companyâs operations and cash flows for the financial year 1 January to 31 December 2022 in accordance with International Financial Reporting Standards as adopted by the EU and further requirements in the Danish Financial Statements Act. Our opinion is consistent with our Auditorâs Long-form Report to the Audit Committee and the Board of Directors. What we have audited The Consolidated Financial Statements and Parent Company Financial Statements of Park Street A/S for the financial year 1 January to 31 De-cember 2022 comprise income statement and statement of comprehensive income, statement of financial position, statement of equity, statement of cash flows and notes, including summary of significant accounting policies for the Group as well as for the Parent Company. Collectively referred to as the âFinancial Statementsâ.</arr:OpinionOnAuditedFinancialStatements>
<arr:DescriptionOfQualificationsOfAuditedFinancialStatements contextRef="ctx-1" id="s12_notesesefdkgaap__8__53" xml:lang="en">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 Auditorâs responsibilities for the audit of the Financial State-ments section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Independence We are independent of the Group in accordance with the International Ethics Standards Board for Accountantsâ International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark. We have also fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. To the best of our knowledge and belief, prohibited non-audit services referred to in Article 5(1) of Regulation (EU) No 537/2014 were not provided. Appointment We were first appointed auditors of Park Street A/S on 27 April 2017 for the financial year 2017. We have been reappointed annually by share-holder resolution for a total period of uninterrupted engagement of 6 years including the financial year 2022. </arr:DescriptionOfQualificationsOfAuditedFinancialStatements>
<arr:KeyAuditMattersAudit contextRef="ctx-1" id="s12_notesesefdkgaap__8__54" xml:lang="en">Key audit matters Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the Financial Statements for 2022. These matters were addressed in the context of our audit of the Financial Statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. Key audit matter Valuation of Investment Properties and Domiciles The Group owns a portfolio of investment properties that are val-ued at fair value and 2 domiciles that are revalued to fair value at 31 December 2022. Valuation of investment properties and domiciles at fair value contains significant estimates based on significant assumptions, where even minor changes in the assumptions can have a signifi-cant effect on the fair value of the properties. Management has used the capitalisation method to determine thefair value. The model is descripted in note 1.2, with market rent and yield being the significant assumptions. Management has obtained valuations from an external valuer to support the fair value determined by Management; including the assumptions used, with market rent and yield being the signifi-cant assumptions. We focused on this area as valuation of investment properties and domiciles at fair value is based on significant estimates which are subjective and a high degree of estimation uncertainty. Refer to note 1.2,9, 14 and 15. How our audit addressed the key audit matter We assessed the method used by management to measure the fair value of investment properties and domiciles, and we challenged the assumptions applied, using our knowledge of the real estate market and professional scepticism. We assessed the competencies and independence of external valuer used by Management. We assessed and tested on a sample basis the data inputs used to determine fair value, including market rent and yields, by comparing the valuation made by Management with the valuation made by the external valuer and comparable trades. We tested on a sample basis the calculation for the fair values includ-ing the assumptions used and the related disclosures in the notes.</arr:KeyAuditMattersAudit>
<arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements contextRef="ctx-1" id="s12_notesesefdkgaap__8__55" xml:lang="en">Statement on Managementâs ReviewManagement is responsible for Managementâs Review. Our opinion on the Financial Statements does not cover Managementâs 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 Managementâs Review and, in doing so, consider whether Managementâs Review is materially inconsistent with the Financial Statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. Moreover, we considered whether Managementâs Review includes the disclosures required by the Danish Financial Statements Act. Based on the work we have performed, in our view, Managementâs Review is in accordance with the Consolidated Financial Statements and the Parent Company Financial Statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not identify any material misstatement in Managementâs Review.</arr:StatementOnManagementsReviewAuditorsReportOnAuditedFinancialStatements>
<arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements contextRef="ctx-1" id="s12_notesesefdkgaap__8__56" xml:lang="en">Managementâs responsibilities for the Financial Statements Management is responsible for the preparation of consolidated financial statements and parent company financial statements that give a true and fair view in accordance with International Financial Reporting Standards as adopted by the EU and further requirements in 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 Groupâs and the Parent Companyâs 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 Group or the Parent Company or to cease operations, or has no realistic alternative but to do so.</arr:StatementOfExecutiveAndSupervisoryBoardsResponsibilityForFinancialStatements>
<arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed contextRef="ctx-1" id="s12_notesesefdkgaap__8__57" xml:lang="en">Auditorâs responsibilities 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 auditorâs 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 mate-rial 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 in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgement and main-tain 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, for-gery, 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 Groupâs and the Parent Companyâs 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 use of the going concern basis of accounting and based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Groupâs and the Parent Companyâs ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditorâs re-port 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 Group or the Parent Company to cease to continue as a going concern. ⢠Evaluate the overall presentation, structure and content 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. ⢠Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to ex-press an opinion on the Consolidated Financial Statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion. 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. We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independ-ence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence and, where applicable, actions taken to eliminate threats or safeguards applied. From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the Financial Statements of the current period and are therefore the key audit matters. We describe these matters in our auditorâs report unless law or regulation precludes public disclosure about the matter.</arr:StatementOfAuditorsResponsibilityForAuditAndAuditPerformed>
<arr:AuditorsReportOnXbrlTagging contextRef="ctx-1" id="s12_notesesefdkgaap__8__58" xml:lang="en">Report on compliance with the ESEF Regulation As part of our audit of the Financial Statements we performed procedures to express an opinion on whether the annual report of Park Street A/S for the financial year 1 January to 31 December 2022 with the filename 213800VGJC18MRKMZC33-2022-12-31-en.zip is prepared, in all material respects, in compliance with the Commission Delegated Regulation (EU) 2019/815 on the European Single Electronic Format (ESEF Regulation) which includes requirements related to the preparation of the annual report in XHTML format and iXBRL tagging of the Consolidated Financial Statements including notes. Management is responsible for preparing an annual report that complies with the ESEF Regulation. This responsibility includes: ⢠The preparing of the annual report in XHTML format; ⢠The selection and application of appropriate iXBRL tags, including extensions to the ESEF taxonomy and the anchoring thereof to elements in the taxonomy, for all financial information required to be tagged using judgement where necessary; ⢠Ensuring consistency between iXBRL tagged data and the Consolidated Financial Statements presented in human-readable format; and ⢠For such internal control as Management determines necessary to enable the preparation of an annual report that is compliant with the ESEF Regulation. Our responsibility is to obtain reasonable assurance on whether the annual report is prepared, in all material respects, in compliance with the ESEF Regulation based on the evidence we have obtained, and to issue a report that includes our opinion. The nature, timing and extent of proce-dures selected depend on the auditorâs judgement, including the assessment of the risks of material departures from the requirements set out in the ESEF Regulation, whether due to fraud or error. The procedures include: ⢠Testing whether the annual report is prepared in XHTML format; ⢠Obtaining an understanding of the companyâs iXBRL tagging process and of internal control over the tagging process; ⢠Evaluating the completeness of the iXBRL tagging of the Consolidated Financial Statements including notes; ⢠Evaluating the appropriateness of the companyâs use of iXBRL elements selected from the ESEF taxonomy and the creation of extension elements where no suitable element in the ESEF taxonomy has been identified; ⢠Evaluating the use of anchoring of extension elements to elements in the ESEF taxonomy; and ⢠Reconciling the iXBRL tagged data with the audited Consolidated Financial Statements. In our opinion, the annual report of Park Street A/S for the financial year 1 January to 31 December 2022 with the file name 213800VGJC18MRK-MZC33-2022-12-31-en.zip is prepared, in all material respects, in compliance with the ESEF Regulation.</arr:AuditorsReportOnXbrlTagging>
<arr:SignatureOfAuditorsPlace contextRef="ctx-1" id="s12_notesesefdkgaap__8__59" xml:lang="en">Hellerup</arr:SignatureOfAuditorsPlace>
<cmn:NameOfAuditFirm contextRef="ctx-33" id="s12_notesesefdkgaap__8__62" xml:lang="en">PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab</cmn:NameOfAuditFirm>
<cmn:NameOfAuditFirm contextRef="ctx-32" id="s12_notesesefdkgaap__8__61" xml:lang="en">PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab</cmn:NameOfAuditFirm>
<cmn:IdentificationNumberCvrOfAuditFirm contextRef="ctx-32" id="s12_notesesefdkgaap__8__63" xml:lang="en">33771231</cmn:IdentificationNumberCvrOfAuditFirm>
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<cmn:NameAndSurnameOfAuditor contextRef="ctx-32" id="s12_notesesefdkgaap__8__65" xml:lang="en">Torben Jensen</cmn:NameAndSurnameOfAuditor>
<cmn:NameAndSurnameOfAuditor contextRef="ctx-33" id="s12_notesesefdkgaap__8__68" xml:lang="en">Jacob Dannefer</cmn:NameAndSurnameOfAuditor>
<cmn:DescriptionOfAuditor contextRef="ctx-32" id="s12_notesesefdkgaap__8__66" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
<cmn:IdentificationNumberOfAuditor contextRef="ctx-32" id="s12_notesesefdkgaap__8__67" xml:lang="en">mne18651</cmn:IdentificationNumberOfAuditor>
<cmn:DescriptionOfAuditor contextRef="ctx-33" id="s12_notesesefdkgaap__8__69" xml:lang="en">State Authorised Public Accountant</cmn:DescriptionOfAuditor>
<cmn:IdentificationNumberOfAuditor contextRef="ctx-33" id="s12_notesesefdkgaap__8__70" xml:lang="en">mne47886</cmn:IdentificationNumberOfAuditor>
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<gsd:InformationOnTypeOfSubmittedReport contextRef="ctx-1" xml:lang="en">Annual report</gsd:InformationOnTypeOfSubmittedReport>
<cmn:TypeOfAuditorAssistance contextRef="ctx-1" xml:lang="en">Auditor's report on audited financial statements</cmn:TypeOfAuditorAssistance>
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<gsd:ReportingPeriodStartDate contextRef="ctx-1" xml:lang="en">2022-01-01</gsd:ReportingPeriodStartDate>
<gsd:ReportingPeriodEndDate contextRef="ctx-1" xml:lang="en">2022-12-31</gsd:ReportingPeriodEndDate>
<gsd:PrecedingReportingPeriodStartDate contextRef="ctx-1" xml:lang="en">2021-01-01</gsd:PrecedingReportingPeriodStartDate>
<gsd:PredingReportingPeriodEndDate contextRef="ctx-1" xml:lang="en">2021-12-31</gsd:PredingReportingPeriodEndDate>
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<arr:TypeOfModifiedOpinionOnAuditedFinancialStatements contextRef="ctx-1" xml:lang="en">Opinion</arr:TypeOfModifiedOpinionOnAuditedFinancialStatements>
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<gsd:DateOfGeneralMeeting contextRef="ctx-1" xml:lang="en">2023-04-28</gsd:DateOfGeneralMeeting>
<sob:DateOfApprovalOfAnnualReport contextRef="ctx-1" xml:lang="en">2023-04-28</sob:DateOfApprovalOfAnnualReport>
<arr:SignatureOfAuditorsDate contextRef="ctx-1" xml:lang="en">2023-04-05</arr:SignatureOfAuditorsDate>
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