38871277 2021-12-31 38871277 2020-12-31 38871277 2021-01-01 fsa:ContributedCapitalMember 38871277 2021-01-01 fsa:SharePremiumMember 38871277 2021-01-01 fsa:RetainedEarningsMember 38871277 2021-12-31 fsa:ContributedCapitalMember 38871277 2021-12-31 fsa:SharePremiumMember 38871277 2021-12-31 fsa:RetainedEarningsMember 38871277 2021-12-31 fsa:OtherLongtermPayablesMember 38871277 2020-12-31 fsa:OtherLongtermPayablesMember 38871277 2021-01-01 2021-12-31 38871277 2021-01-01 2021-12-31 1 38871277 2021-01-01 2021-12-31 memberOfBoardIdentifier_executive_board_1 38871277 2021-01-01 2021-12-31 memberOfBoardIdentifier_executive_board_2 38871277 2021-01-01 2021-12-31 memberOfBoardIdentifier_board_of_director_1 38871277 2021-01-01 2021-12-31 memberOfBoardIdentifier_board_of_director_2 38871277 2021-01-01 2021-12-31 memberOfBoardIdentifier_board_of_director_3 38871277 2021-01-01 2021-12-31 memberOfBoardIdentifier_board_of_director_4 38871277 2021-01-01 2021-12-31 memberOfBoardIdentifier_board_of_director_5 38871277 2021-01-01 2021-12-31 memberOfBoardIdentifier_board_of_director_6 38871277 2021-01-01 2021-12-31 2 38871277 2020-01-01 2020-12-31 38871277 2021-01-01 2021-12-31 fsa:RetainedEarningsMember 38871277 2020-01-01 2020-12-31 fsa:RetainedEarningsMember 38871277 2021-01-01 2021-12-31 fsa:ContributedCapitalMember 38871277 2021-01-01 2021-12-31 fsa:SharePremiumMember 38871277 2021-01-01 2021-12-31 fsa:RetainedEarningsMember iso4217:DKK pure Årsrapport 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Strandvejen 44 2900 Hellerup 2021-01-01 2020-01-01 2021-12-31 2020-12-31 38871277 SNIPR Biome ApS Lersø Parkallé 44,5 2100 København Ø PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab 33771231 Strandvejen 44 2900 Hellerup Denmark 2022-05-16 Christian Grøndahl Regnskabsklasse B Revisionspåtegning Receivables are measured in the balance sheet at the lower of amortised cost and net realisable value, which corresponds to nominal value less provisions for bad debts. Transactions in foreign currencies are translated at the exchange rates at the dates of transaction. Exchange differences arising due to differences between the transaction date rates and the rates at the dates of payment are recognised in financial income and expenses in the income statement. Where foreign exchange transactions are considered hedging of future cash flows, the value adjustments are recognised directly in equity. Receivables, payables and other monetary items in foreign currencies that have not been settled at the balance sheet date are translated at the exchange rates at the balance sheet date. Any differences between the exchange rates at the balance sheet date and the rates at the time when the receivable or the debt arose are recognised in financial income and expenses in the income statement. Fixed assets acquired in foreign currencies are measured at the transaction date rates. Financial income and expenses are recognised in the income statement at the amounts relating to the financial year. Investments in subsidiaries are recognised and measured under the equity method. The item “Investments in subsidiaries” in the balance sheet include the proportionate ownership share of the net asset value of the enterprises calculated on the basis of the fair values of identifiable net assets at the time of acquisition with deduction or addition of unrealised intercompany profits or losses and with addition of the remaining value of any increases in value and goodwill calculated at the time of acquisition of the enterprises. The total net revaluation of investments in subsidiaries is transferred upon distribution of profit to “Reserve for net revaluation under the equity method“ under equity. The reserve is reduced by dividend distributed to the Parent Company and adjusted for other equity movements in the subsidiaries. Subsidiaries with a negative net asset value are recognised at DKK 0. Any legal or constructive obligation of the Parent Company to cover the negative balance of the enterprise is recognised in provisions. Other fixed asset investments consist of deposits. Amortisation, depreciation and impairment losses comprise amortisation, depreciation and impairment of intangible assets and property, plant and equipment. Property, plant and equipment are measured at cost less accumulated depreciation and less any accumulated impairment losses. Cost comprises the cost of acquisition and expenses directly related to the acquisition up until the time when the asset is ready for use. Interest expenses on loans contracted directly for financing the construction of property, plant and equipment are recognised in cost over the construction period. Depreciation based on cost reduced by any residual value is calculated on a straight-line basis over the expected useful lives of the assets, which are: Other fixtures and fittings, tools and equipment 5-10 years Leasehold improvements The fixed assets’ residual values are determined at nil. 5-10 years Depreciation period and residual value are reassessed annually. The carrying amounts of intangible assets and property, plant and equipment are reviewed on an annual basis to determine whether there is any indication of impairment other than that expressed by amortisation and depreciation. If so, the asset is written down to its lower recoverable amount. The Annual Report of SNIPR Biome ApS for 2021 has been prepared in accordance with the provisions of the Danish Financial Statements Act applying to enterprises of reporting class B as well as selected rules applying to reporting class C. The accounting policies applied remain unchanged from last year. The Financial Statements for 2021 are presented in DKK. 1 Revenues are recognised in the income statement as earned. Furthermore, value adjustments of financial assets and liabilities measured at fair value or amortised cost are recognised. Moreover, all expenses incurred to achieve the earnings for the year are recognised in the income statement, including depreciation, amortisation, impairment losses and provisions as well as reversals due to changed accounting estimates of amounts that have previously been recognised in the income statement. Assets are recognised in the balance sheet when it is probable that future economic benefits attributable to the asset will flow to the Company, and the value of the asset can be measured reliably. Liabilities are recognised in the balance sheet when it is probable that future economic benefits will flow out of the Company, and the value of the liability can be measured reliably. Assets and liabilities are initially measured at cost. Subsequently, assets and liabilities are measured as described for each item below. Prepayments comprise prepaid expenses concerning rent, insurance premiums, subscriptions and interest. The item “Income from investments in subsidiaries” in the income statement includes the proportionate share of the profit for the year. Loans are recognised initially at the proceeds received net of transaction expenses incurred. Subsequently, the loans are measured at amortised cost; the difference between the proceeds and the nominal value is recognised as an interest expense in the income statement over the loan period. Mortgage loans are measured at amortised cost, which for cash loans corresponds to the remaining loan. Amortised cost of debenture loans corresponds to the remaining loan calculated as the underlying cash value of the loan at the date of raising the loan adjusted for depreciation of the price adjustment of the loan made over the term of the loan at the date of raising the loan. Other debts are measured at amortised cost, substantially corresponding to nominal value. Other external expenses comprise indirect production costs and expenses for premises, sales and as well as office expenses, etc. Expenses for raw materials and consumables comprise the raw materials and consumables consumed to achieve revenue for the year. With reference to section 32 of the Danish Financial Statements Act, gross profit/loss is calculated as a summary of other operating income, expenses for raw materials and consumables and other external expenses. Other operating income and other operating expenses comprise items of a secondary nature to the main activities of the Company, including gains and losses on the sale of property, plant and equipment. Staff expenses comprise wages and salaries as well as payroll expenses. Tax for the year consists of current tax for the year and changes in deferred tax for the year. The tax attributable to the profit for the year is recognised in the income statement, whereas the tax attributable to equity transactions is recognised directly in equity. Deferred income tax is measured using the balance sheet liability method in respect of temporary differences arising between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes on the basis of the intended use of the asset and settlement of the liability, respectively. Deferred tax assets, including the tax base of tax loss carry-forwards, are measured at the value at which the asset is expected to be realised, either by elimination in tax on future earnings or by set-off against deferred tax liabilities within the same legal tax entity. Deferred tax is measured on the basis of the tax rules and tax rates that will be effective under the legislation at the balance sheet date when the deferred tax is expected to crystallise as current tax. Any changes in deferred tax due to changes to tax rates are recognised in the income statement or in equity if the deferred tax relates to items recognised in equity. Current tax liabilities and receivables are recognised in the balance sheet as the expected taxable income for the year adjusted for tax on taxable incomes for prior years and tax paid on account. Extra payments and repayment under the on-account taxation scheme are recognised in the income statement in financial income and expenses. The Executive Board and Board of Directors have today considered and adopted the Financial Statements of SNIPR Biome ApS for the financial year 1 January - 31 December 2021. The Annual Report is prepared in accordance with the Danish Financial Statements Act. In our opinion the Financial Statements give a true and fair view of the financial position at 31 December 2021 of the Company and of the results of the Company operations for 2021. In our opinion, Management's Review includes a true and fair account of the matters addressed in the Review. We recommend that the Financial Statements be adopted at the Annual General Meeting. 2022-04-27 Copenhagen Christian Grøndahl CEO Milan Zdravkovic CMO Christian Ellebæk Elling Chairman Joachim Günter Rothe Jørgen Ulrik Vejlsgaard Morten Otto Alexander Sommer Regina Hodits Per Gunnar Falk To the shareholders of SNIPR Biome ApS Opinion In our opinion, the Financial Statements give a true and fair view of the financial position of the Company at 31 December 2021 and of the results of the Company´s operations for the financial year 1 January - 31 December 2021 in accordance with the Danish Financial Statements Act. We have audited the Financial Statements of SNIPR Biome ApS for the financial year 1 January - 31 December 2021, which comprise income statement, balance sheet, statement of changes in equity and notes, including a summary of significant accounting policies (”the Financial Statements”). Basis for Opinion We conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the ”Auditor’s responsibilities for the audit of the Financial Statements” section of our report. We are independent of the Company in accordance with the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Management 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 Company´s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting in preparing the Financial Statements unless Management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. 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: 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 internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company´s internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management. Con­clude on the ap­pro­pri­ate­ness of Management’s use of the going con­cern basis of accoun­ting in pre­pa­ring the Financial Statements and, based on the audit evi­dence ob­tained, whether a ma­te­ri­al un­cer­tain­ty exists re­la­ted to events or con­di­tions that may cast sig­ni­fi­cant doubt on the Company´s abi­li­ty to con­ti­nue as a going con­cern. If we con­clude that a ma­te­ri­al un­cer­tain­ty exists, we are re­quired to draw at­ten­tion in our audi­tor’s report to the re­la­ted dis­clo­sures in the Financial Statements or, if such dis­clo­sures are in­ade­quate, to mo­di­fy our opi­nion. Our con­clu­sions are based on the audit evi­dence ob­tained up to the date of our audi­tor’s re­port. However, future events or con­di­tions may cause the Company to cease to con­ti­nue as a going con­cern. Evaluate the overall presentation, structure and contents of the Financial Statements, including the disclosures, and whether the Financial Statements represent the underlying transactions and events in a manner that gives a true and fair view. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Management is responsible for Management’s Review. Our opinion on the Financial Statements does not cover Management’s Review, and we do not express any form of assurance conclusion thereon. In connection with our audit of the Financial Statements, our responsibility is to read Management’s Review and, in doing so, consider whether Management’s Review is materially inconsistent with the Financial Statements or our knowledge obtained during the audit, or otherwise appears to be materially misstated. Moreover, it is our responsibility to consider whether Management’s Review provides the information required under the Danish Financial Statements Act. Based on the work we have performed, in our view, Management’s Review 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 in Management’s Review. Hellerup 2022-04-27 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Martin Lunden statsautoriseret revisor mne32209 Mads Blichfeldt Henriksen statsautoriseret revisor mne46065 Key activities The purpose of the company is directly and / or through the holding of shares in other companies, to conduct business with technological development, production and trade, and other companies, which, in the opinion of the Board of Directors, are associated therewith. Development in the year The income statement of the Company for 2021 shows a loss of DKK 79,293,903, and at 31 December 2021 the balance sheet of the Company shows positive equity of DKK 71,294,889. Uncertainty relating to recognition and measurement Recognition and measurement in the Annual Report have not been subject to any uncertainty. Unusual events The financial position at 31 December 2021 of the Company and the results of the activities of the Company for the financial year for 2021 have not been affected by any unusual events. Subsequent events No events materially affecting the assessment of the Annual Report have occurred after the balance sheet date. 1535191 1163520 -5500000 -5102967 -37776814 -38908139 -84942900 -71560547 1083515 199617 45630895 31488888 934518 796655 -84793903 -72157585 -79293903 -67054618 -79293903 -67054618 8856510 6563361 1353818 836611 10210328 7399972 10944955 2184000 71098484 101557735 82700000 109773518 886 0 1390302 815811 1391188 815811 11601516 8215783 0 5085254 5500000 5500000 1090511 919369 17535466 13688623 53563018 87869112 1817746 1521450 0 1723219 0 1723219 1817746 1521450 82700000 109773518 71294889 91067210 69477143 89545760 11405111 16983089 11405111 18706308 As of 31 December the Company has net current assets of t.DKK 60,655. The planned investments in further research and development activities for 2022 exceeds this amount. A tranche payment via a capital increase of t.DKK 59,600 has been approved on 24 February 2022 as well as a cost reimbursement agreement has been entered allowing the Company to continue the planned research activities during 2022. On this basis the annual report is prepared on the going concern assumption. 1521450 0 89545760 0 32942 0 296296 59192344 0 0 0 -79293903 0 -59225286 59225286 1817746 0 69477143 Rental and lease obligations Lease obligations under operating leases. Total future lease payments: Within 1 year 1,584,925 780,650 Between 1 and 5 years 3,485,192 5,070,117 780,650 There are no security and contingent liabilitites at 31 December 2021. 0 1723219 0 0 0 1723219 Payments due within 1 year are recognised in short-term debt. Other debt is recognised in long-term debt. The debt falls due for payment as specified below: 39604001 27131873 4309568 2363016 303226 173549 1414100 1820450 45630895 31488888 39 26 -5500000 -5102967 -5500000 -5102967