44771101 2025-04-01 2026-03-31 44771101 2025-04-01 2026-03-31 1 44771101 2025-04-01 2026-03-31 1 44771101 2025-04-01 2026-03-31 2 44771101 2024-04-17 2025-03-31 44771101 2026-03-31 44771101 2025-03-31 44771101 2025-04-01 2026-03-31 d:RetainedEarningsMember 44771101 2026-03-31 d:ContributedCapitalMember 44771101 2026-03-31 d:RetainedEarningsMember iso4217:DKK xbrli:pure Tanveer Singh Batth Regnskabsklasse B Andre erklæringer uden sikkerhed 2200 Årsrapport Langagervej 1 2025-03-31 Beierholm 9220 Aalborg Ø 2026-04-20 2026-04-20 2024-04-17 2025-04-01 2026-03-31 Beierholm 44771101 KPL ApS Tagensvej 116 5 523 København N København 32895468 Gåskærgade 32 6100 Haderslev Danmark true We have on this day presented the annual report for the financial year 01.04.25 - 31.03.26 for KPL ApS. The annual report is presented in accordance with the Danish Finan­cial Sta­te­ments Act. The fi­nan­cial sta­te­ments have not been audited, and we declare that the relevant conditions have been met. In our opinion, the financial statements give a true and fair view of the company's assets, liabilities and financial position as at 31.03.26 and of the results of the company's activities for the financial year 01.04.25 - 31.03.26. The annual report is submitted for adoption by the general meeting. Tanveer Singh Batth Cristina Hernandez Rollan To the management of KPL ApSBased on the company's accounting material and other in­for­ma­tion provided by ma­na­ge­ment, we have compiled the fi­nan­cial sta­te­ments of KPL ApS for the financial year 01.04.25 - 31.03.26.The fi­nan­cial sta­te­ments comprise in­co­me sta­te­ment, ba­lan­ce sheet, statement of changes in equity and notes to the financial statements, including material accounting policy information.We performed this compilation engagement in accordance with ISRS 4410, Engagements to Compile Financial Statements.We have applied our professional expertise to assist management with the preparation and pre­sen­tation of the fi­nan­cial sta­te­ments in accordance with the Danish Finan­cial Sta­te­ments Act. We have complied with rele­vant provisions of the Danish Act on Appro­ved Auditors and Audit Firms and the code of ethics of International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code), including principles of integrity, professional competence and due care.The fi­nan­cial sta­te­ments and the accuracy and com­plete­ness of the in­for­ma­tion used to compile them are management's responsibility.Since a compilation engagement is not an as­su­ran­ce engagement, we are not required to verify the accuracy or completeness of the information pro­vided by management for the compilation of the fi­nan­cial sta­te­ments. Accordingly, we do not express an audit opinion or a review con­clusion on whether the fi­nan­cial sta­te­ments are prepared in accordance with the Danish Finan­cial Sta­te­ments Act. To the management of KPL ApS Haderslev Rasmus Ørskov State Authorised Public Accountant mne42777 409425 475669 380393 19432 2610 1060 12521 7398 19121 449899 4774 100496 14347 349403 14347 349403 130135 33299 20226 0 8930 18074 159291 51373 329557 498334 488848 549707 488848 549707 50000 50000 363750 349403 413750 399403 32408 42617 0 100496 42690 7191 75098 150304 75098 150304 488848 549707 Figures in DKKContributed capitalRetained earningsTotal equityStatement of changes in equity for 01.04.25 - 31.03.26Balance as at 01.04.2550,000349,403399,403Net profit/loss for the year014,34714,347Balance as at 31.03.2650,000363,750413,750 14347 50000 363750 1.Primary activitiesThe company's activities comprise engaging in research, development, production, and trade of proteins, enzymes, and related technologies, as well as other related activities. 369399 16634 4573 198 6421 2600 1 1 3.Other commitmentsThe Company has entered into a collaboration agreement with the Novo Nordisk Foundation Center for Protein Research at the University of Copenhagen regarding access to laboratory facilities, equipment and related infrastructure.Under the agreement, the Company is granted access on a non-exclusive basis to specified laboratory facilities, including a laboratory bench, selected equipment and storage space, for research and development activities. In return, the Company is obliged to pay a fixed bench fee as well as variable charges for the use of equipment and consumables, based on actual usage. Payments are invoiced semi-annually.The agreement is effective from 1 July 2025 and remains in force until 1 November 2026, unless terminated earlier by either party with three months’ notice. The total consideration payable under the agreement is not fixed, as it depends on the actual utilisation of facilities and equipment during the contract period. The annual report is presen­ted in ac­cord­ance with the provisions of the Danish Fi­nan­cial Statements Act (Årsregn­skabs­lov­en) for enterprises in re­port­ing class B with application of pro­vi­sions for a higher reporting class. Basis of recognition and measurementIncome is recognised in the income state­ment as earned, including value adjust­ments of fin­an­cial assets and liabilities. All ex­penses, including depreciation, amortisa­tion, impair­ment losses and write-downs, are also recognised in the in­come state­ment.Assets are recognised in the balance sheet when it is probable that future economic bene­fits will flow to the company, and the value of such assets can be measured reliably. Liabilities are recognised in the balance sheet when it is probable that future economic benefits will flow from the company, and the value of such liabilities can be measured reliably. On initial recognition, assets and liabilities are measured at cost. Subsequently, assets and liabilities are measured as described for each item below.On recognition and measurement, account is taken of foreseeable losses and risks arising before the date at which the annual report is presented and proving or disproving matters arising on or before the balance sheet date. CURRENCYThe annual report is presen­ted in Danish kroner (DKK).On initial recognition, transactions den­ominated in foreign currencies are trans­lated using the exchange rates applicable at the transaction date. Exchange rate differences between the exchange rate applicable at the transaction date and the exchange rate at the date of payment are recognised in the income statement as a financial item. Receivables, payables and other monetary items denominated in foreign currencies are translated using the exchange rates applicable at the balance sheet date. The difference between the ex­change rate applicable at the balance sheet date and at the date at which the receivable or payable arose or was recognised in the latest annual report is recognised under financial income or ex­penses in the income statement. Gross profitGross profit comprises rev­enue, other operating income and raw materials and consumables and other external ex­penses. RevenueIncome from the sale of goods is recognised in the income statement if delivery has taken place and the risk has passed to the buyer before the end of the financial year and where the selling price can be determined reliably and is expected to be paid. Revenue is measured at fair value and is determined exclusive of VAT and other taxes collected on behalf of third parties and less discounts. Other operating incomeOther operating income comprises income of a secondary nature in relation to the enterprise’s activities, including grants. Costs of raw materials and consuma­blesCosts of raw materials and consumables comprise raw materials and consumables used for the year as well as any changes in inventories, including any inventory wastage.Write-downs of inventories of raw materials and consumables are also recognised under raw materials and consumables to the extent that these do not exceed normal write-downs. Other external expensesOther external expenses comprise costs re­lating to distribution, sales and advertising and administration, premises and bad debts to the extent that these do not exceed normal write-downs. Staff costsStaff costs comprise wages and salaries as well as other staff-related costs. Other net financialsInterest income and interest expenses, for­eign exchange gains and losses on trans­ac­tions denominated in foreign currencies etc. are recognised in other net financials. Tax on profit/loss for the yearThe current and deferred tax for the year is recognised in the income statement as tax on the profit/loss for the year with the portion attributable to the profit/loss for the year, and directly in equity with the portion attributable to amounts recognised directly in equity. ReceivablesReceivables are measured at amortised cost, which usually corresponds to the nom­inal value, less write-downs for bad debts.Write-downs for bad debts are determined based on an individual assessment of each receivable if there is no objective evidence of individual impairment of a receivable. CashCash includes deposits in bank account. Current and deferred taxCurrent tax payable and receivable is recognised in the balance sheet as tax computed on the basis of the taxable income for the year, adjusted for tax paid on account.Deferred tax liabilities and tax assets are recognised on the basis of all temporary differences between the carrying amounts and tax bases of assets and liabilities. However, deferred tax is not recognised on temporary differences relating to goodwill which is non-amortisable for tax purposes and other items where temporary differ­ences, except for acquisitions, have arisen at the date of acquisition without affecting the net profit or loss for the year or the tax­able income. In cases where the tax value can be determined according to different taxation rules, deferred tax is measured on the basis of management’s intended use of the asset or settlement of the liability.Deferred tax assets are recognised, following an assessment, at the expected realisable value through offsetting against deferred tax liabilities or elimination in tax on future earnings.Deferred tax is measured on the basis of the tax rules and at the tax rates which, according to the legislation in force at the balance sheet date, will be applicable when the deferred tax is expected to crystallise as current tax. PayablesShort-term financial payables are measured at amortised cost, normally corresponding to the nominal value of such payables. Other short-term payables are measured at net realisable value.