Company Registration No. 11417841 (England and Wales)
Magellan Life Sciences Limited
Unaudited accounts
for the year ended 31 December 2022
Magellan Life Sciences Limited
Unaudited accounts
Contents
Magellan Life Sciences Limited
Company Information
for the year ended 31 December 2022
Directors
Dr A Dukkipati
LS Wagle
E Nuttin
Company Number
11417841 (England and Wales)
Registered Office
C/O AMS Accountants, 4 Raleigh House
Admirals Way, Canary Wharf
London
E14 9SN
United Kingdom
Accountants
AMS Accountants
4 Raleigh House
Admirals Way
Canary Wharf
London
E14 9SN
Magellan Life Sciences Limited
Statement of financial position
as at 31 December 2022
Intangible assets
95,726
72,530
Cash at bank and in hand
29,653
325,264
Creditors: amounts falling due within one year
(2,341)
(1,200)
Net current assets
53,384
460,965
Net assets
210,791
533,495
Called up share capital
173
173
Share premium
691,099
691,099
Profit and loss account
(480,481)
(157,777)
Shareholders' funds
210,791
533,495
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 10 February 2023 and were signed on its behalf by
LS Wagle
Director
Company Registration No. 11417841
Magellan Life Sciences Limited
Notes to the Accounts
for the year ended 31 December 2022
Magellan Life Sciences Limited is a private company, limited by shares, registered in England and Wales, registration number 11417841. The registered office is C/O AMS Accountants, 4 Raleigh House, Admirals Way, Canary Wharf, London, E14 9SN, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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Intangible fixed assets
Other
At 31 December 2022
109,041
At 31 December 2022
13,315
At 31 December 2022
95,726
At 31 December 2021
72,530
Magellan Life Sciences Limited
Notes to the Accounts
for the year ended 31 December 2022
5
Tangible fixed assets
Plant & machinery
At 31 December 2022
68,534
At 31 December 2022
61,681
Amounts falling due within one year
Other debtors
26,072
136,901
7
Creditors: amounts falling due within one year
2022
2021
Taxes and social security
2,341
-
8
Average number of employees
During the year the average number of employees was 2 (2021: 0).