ANNUAL
REPORT &
ACCOUNTS
For the year ended 31 March 2022
fusionantibodies.com
Annual Report and Accounts
For the year ended 31 March 2022
HEADLINES
FOR THE YEAR
INVESTMENT IN R&D | FULL YEAR REVENUES |
£0.7M | INCREASED BY |
(2021: £0.6M) | 15% TO £4.8M |
(2021: £4.2M) |
LOSS FOR THE YEAR OF | FIRST SUCCESS | CASH POSITION AT THE |
£1.2M | MILESTONES RECEIVED | YEAR-END£2.0M |
(2021: LOSS £2.9M) | FROM CLIENTS | (2021: £2.7M) |
POST YEAR END AND
LOOKING AHEAD
APPOINTMENT OF
ADRIAN KINKAID AS
CEO, AUGUST 2022
01
Fusion Antibodies plc
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Annual Report and Accounts
For the year ended 31 March 2022
CONTENTS
STRATEGIC REPORT | |
Fusion at a glance | 04 |
Chairman's statement | 06 |
Company overview | 09 |
Executive report and operations review | 15 |
Principal risks and uncertainties | 20 |
CORPORATE GOVERNANCE | |
Board of directors | 24 |
Corporate governance statement | 27 |
Directors' report | 33 |
FINANCIAL STATEMENTS | |
Independent auditors' report to the | |
members of Fusion Antibodies plc | 40 |
Statement of profit or loss and other | |
comprehensive income | 46 |
Statement of financial position | 47 |
Statement of changes in equity | 48 |
Statement of cash flows | 49 |
Notes to the financial statements | 50-68 |
Company information | 69 |
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