41164611 2022-01-01 2022-12-31 41164611 2022-01-01 2022-12-31 auditor_1 41164611 2022-01-01 2022-12-31 memberOfBoardIdentifier_1 41164611 2022-01-01 2022-12-31 memberOfBoardIdentifier_2 41164611 2022-01-01 2022-12-31 memberOfBoardIdentifier_1 41164611 2022-01-01 2022-12-31 memberOfBoardIdentifier_2 41164611 2022-01-01 2022-12-31 memberOfBoardIdentifier_3 41164611 2022-01-01 2022-12-31 memberOfBoardIdentifier_4 41164611 2022-01-01 2022-12-31 memberOfBoardIdentifier_5 41164611 2021-01-01 2021-12-31 41164611 2022-01-01 2022-12-31 fsa:RetainedEarningsMember 41164611 2021-01-01 2021-12-31 fsa:RetainedEarningsMember 41164611 2022-12-31 41164611 2021-12-31 41164611 2021-12-31 fsa:ContributedCapitalMember 41164611 2021-12-31 fsa:RetainedEarningsMember 41164611 2022-01-01 2022-12-31 fsa:ContributedCapitalMember 41164611 2022-01-01 2022-12-31 fsa:RetainedEarningsMember 41164611 2022-12-31 fsa:ContributedCapitalMember 41164611 2022-12-31 fsa:RetainedEarningsMember 41164611 2021-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 41164611 2022-01-01 2022-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 41164611 2022-12-31 fsa:FixturesFittingsToolsAndEquipmentMember iso4217:DKK pure Årsrapport 2022-01-01 2021-01-01 2022-12-31 2021-12-31 2023-06-28 41164611 2023-06-28 2020-02-14 Reporting class B KPMG 2100 København Ø Dampfærgevej 28 25578198 Auditor's reports (Other non-assurance reports) Copenhagen 2023-06-28 KPMG 25578198 true Torbjørn Ølshøj Jensen The Board of Directors and the Executive Board have today discussed and approved the annual report for LuaBio ApS for the financial year 1 January - 31 December 2022. The annual report, which has not been audited, is presented in accordance with the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the Company's assets, liabilities and financial position at 31 December 2022 and of the results of the Company's operations for the financial year 1 January - 31 December 2022.Further, in our opinion, the Management's review gives a fair review of the matters discussed in the Management's review. We recommend that the annual report be approved at the annual general meeting. Management confirms that the Company fulfils the requirement to be exempt from audit. Maximilian Kufner Torbjørn Ølshøj Jensen Torbjørn Ølshøj Jensen Chairman Alex Toftgaard Nielsen Christian René Tang-Jespersen Henrik Daniel Niemi Maximilian Kufner Auditor's report on compilation of financial statements To the Management of LuaBio ApS We have compiled the financial statements of LuaBio ApS for the financial year 1 January - 31 December 2022 based on the Company's bookkeeping records and other information provided by you.The financial statements comprise income statement, balance sheet, statement of changes in equity and notes, including accounting policies.We performed our work in accordance with ISRS 4410 Compilation Engagements.We have applied our professional expertise in accounting and financial reporting to assist you in the preparation and presentation of these financial statements in accordance with the Danish Financial Statements Act. We have complied with relevant provisions of the Auditor Act, including the requirements for independence, and International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code), which is based on fundamental 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 as to whether these financial statements are prepared in accordance with the Danish Financial Statements Act. Morten Høgh-Petersen mne34283 LuaBio ApS Maskinvej 5 DK-2860 Søborg Gladsaxe Principal activities The Company's primary activities have been research and development of technology within the biochemical field. Events after the balance sheet date No events have occurred after the balance sheet date of material importance to the annual report for 2022. Development in activities and financial position The Company's income statement for 2022 shows a loss of DKK 3,633,535 as against a loss of DKK 412,026 in 2021. Equity in the Company's balance sheet at 31 December 2022 stood at DKK 4,907,924 as against DKK 8,541,459 at 31 December 2021. -438026 346326 3583620 856870 581418 1271 -4603064 -511815 54522 18441 -4657586 -530256 -1024051 -118230 -3633535 -412026 -3633535 -412026 2179913 74999 2179913 74999 1142281 118230 337695 111323 1479976 229553 4114144 10309160 5594120 10538713 7774033 10613712 51432 51432 4856492 8490027 4907924 8541459 2224665 0 381530 4697 259914 2067556 2866109 2072253 7774033 10613712 51432 8490027 0 -3633535 51432 4856492 The annual report of LuaBio ApS for 2022 has been prepared in accordance with the provisions applying to reporting class B entities under the Danish Financial Statements Act with opt-in from higher reporting classes.The accounting policies used in the preparation of the financial statements are consistent with those of last year. Foreign currency translation On initial recognition, transactions denominated in foreign currencies are translated at the exchange rates at the transaction date. Foreign exchange differences arising between the exchange rates at the transaction date and the date of payment are recognised in the income statement as financial income or financial expenses. Receivables, payables and other monetary items denominated in foreign currencies are translated at the exchange rates at the balance sheet date. The difference between the exchange rates at the balance sheet date and the date at which the receivable or payable arose or was recognised in the latest financial statements is recognised in the income statement as financial income or financial expenses. Cost of sales Cost of sales comprises costs incurred to generate revenue for the year. Other external costs Other external costs comprise costs for distribution and sales costs, costs for advertising, administrative expenses, costs of premises, bad debts, operating leases, etc. Staff costs Staff costs comprise wages and salaries, including holiday allowance, pension and other social security costs. Financial income and expenses Financial income and expenses comprise interest income and expense, etc. Tax on loss for the year Tax for the year comprises current tax for the year and changes in deferred tax, including changes in tax rates. The tax expense relating to the profit/loss for the year is recognised in the income statement at the amount attributable to the profit/loss for the year and directly in equity at the amount attributable to entries directly in equity. Property, plant and equipmentFixtures and fittings, tools and equipment are measured at cost less accumulated depreciation and impairment losses.Cost comprises the purchase price and any costs directly attributable to the acquisition until the date on which the asset is available for use. Indirect production overheads and borrowing costs are not recognised in cost.The basis of depreciation is cost less any projected residual value after the end of the useful life. Depreciation is provided on a straight-line basis over the estimated useful life. The estimated useful lives are as follows:Fixtures, fittings, tools and equipment3-8 yearsThe useful life and residual value are reassessed annually. Changes are treated as accounting estimates, and the effect on depreciation is recognised prospectively. Gains and losses on the disposal of property, plant and equipment are stated as the difference between the selling price less selling costs and the carrying amount at the date of disposal. Gains and losses are recognised in the income statement as other operating income or other operating costs, respectively. Impairment of fixed assets The carrying amount of property, plant and equipment is subject to an annual test for indications of impairment other than the decrease in value reflected by depreciation or amortisation. Impairment tests are conducted of individual assets or groups of assets when there is an indication that they may be impaired. Write-down is made to the recoverable amount if this is lower than the carrying amount. The recoverable amount is the higher of an asset's net selling price and its value in use. The value in use is determined as the present value of the forecast net cash flows from the use of the asset or the group of assets, including forecast net cash flows from the disposal of the asset or the group of assets after the end of the useful life. Corporation tax and deferred tax Current tax payable and receivable is recognised in the balance sheet as tax computed on the taxable income for the year, adjusted for tax on the taxable income of prior years and for tax paid on account. Deferred tax is measured using the balance sheet liability method on all temporary differences between the carrying amount and the tax value of assets and liabilities measured on the planned use of the asset or settlement of the liability, respectively. However, deferred tax is not recognised on temporary differences at the date of acquisition without affecting either profit/loss or taxable income. Deferred tax assets, including the tax value of tax loss carryforwards, are recognised at the expected value of their utilisation within the foreseeable future; either as a set-off against tax on future income or as a set-off against deferred tax liabilities in the same legal tax entity. Any deferred net assets are measured at net realisable value. Deferred tax is measured in accordance with the tax rules and at the tax rates applicable at the balance sheet date when the deferred tax is expected to crystallise as current tax. Changes in deferred tax as a result of changes in tax rates are recognised in the income statement or equity, respectively. Receivables Receivables are measured at amortised cost. Write-down is made for bad debt losses where there is an objective indication that a receivable has been impaired. If there is an objective indication that an individual receivable has been impaired, write-down is made on an individual basis. Write-downs are calculated as the difference between the carrying amount of receivables and the present value of forecast cash flows, including the realisable value of any collateral received. The effective interest rate for the individual receivable or portfolio is used as discount rate. Cash at bank and in hand Cash at bank and in hand comprise cash and bank deposits. Liabilities Financial liabilities are recognised at the date of borrowing at cost, corresponding to the proceeds received less transaction costs paid. In subsequent periods, the financial liabilities are measured at amortised cost, corresponding to the capitalised value using the effective interest rate. Accordingly, the difference between cost and the nominal value is recognised in the income statement over the term of the loan together with interest expenses. Other liabilities are measured at amortised cost. 3550276 847806 33344 9064 6 2 54522 18441 Deferred tax adjustment for the year-1,024,051-118,230-1,024,051 -118,230 76270 2686332 2762602 -1271 -581418 -582689 2179913