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REGISTERED NUMBER: 07276427 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

Magellan 2000 Limited

| Magellan 2000 Limited (Registered number: 07276427) |

CONTENTS OF THE FINANCIAL STATEMENTS

for the Year Ended 31 December 2022

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| Chartered Accountants' Report | 5 |

| Magellan 2000 Limited |

COMPANY INFORMATION

for the Year Ended 31 December 2022

| DIRECTOR: | Mr J R Beveridge

| REGISTERED OFFICE: | 2 Wheatfield Avenue

| Harpenden

| Hertfordshire

| AL5 2NU

| REGISTERED NUMBER: | 07276427 (England and Wales)

| ACCOUNTANTS: | Cooper Dawn Jerrom Limited

| Chartered Accountants

| Units SCF 1 & 2

| Western International Market

| Hayes Road

| Southall

| Middlesex

| UB2 5XJ

| Magellan 2000 Limited (Registered number: 07276427) |

BALANCE SHEET

31 December 2022

| 31.12.22 |  | 31.12.21

| Notes | £ | £ |

CURRENT ASSETS

Debtors | 6 | 67,109 |  | 107,127 |  |

Cash at bank | 270,466 |  | 150,014 |  |

337,575 |  | 257,141 |  |

CREDITORS

Amounts falling due within one year | 7 | 151,044 |  | 62,078 |  |

NET CURRENT ASSETS | 186,531 |  | 195,063 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 186,531 |  | 195,063 |  |

CREDITORS

Amounts falling due after more than one year | 8 | 120,244 |  | 128,840 |  |

NET ASSETS | 66,287 |  | 66,223 |  |

CAPITAL AND RESERVES

Called up share capital | 101 |  | 101 |  |

Retained earnings | 66,186 |  | 66,122 |  |

SHAREHOLDERS' FUNDS | 66,287 |  | 66,223 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 September 2023 and were signed by:

Mr J R Beveridge - Director

| Magellan 2000 Limited (Registered number: 07276427) |

NOTES TO THE FINANCIAL STATEMENTS

for the Year Ended 31 December 2022

1. | STATUTORY INFORMATION

| Magellan 2000 Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| The presentation currency of the financial statements is the Pound Sterling (£).

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of five years.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Plant and machinery etc | - | 33% on cost

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 1 (2021 - 1 ) .

4. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 1 January 2022

| and 31 December 2022 | 375,000 |  |

| AMORTISATION

| At 1 January 2022

| and 31 December 2022 | 375,000 |  |

| NET BOOK VALUE

| At 31 December 2022 | - |  |

| At 31 December 2021 | - |  |

5. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 January 2022

| and 31 December 2022 | 3,482 |  |

| DEPRECIATION

| At 1 January 2022

| and 31 December 2022 | 3,482 |  |

| NET BOOK VALUE

| At 31 December 2022 | - |  |

| Magellan 2000 Limited (Registered number: 07276427) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 December 2022

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.22 |  | 31.12.21

£ | £ |

| Trade debtors | 55,320 |  | 17,520 |  |

| Other debtors | 11,789 |  | 89,607 |  |

67,109 |  | 107,127 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.12.22 |  | 31.12.21

£ | £ |

| Bank loans and overdrafts | 9,875 |  | 9,860 |  |

| Taxation and social security | 50,336 |  | 30,568 |  |

| Other creditors | 90,833 |  | 21,650 |  |

151,044 |  | 62,078 |  |

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.12.22 |  | 31.12.21

£ | £ |

| Bank loans | 120,244 |  | 128,840 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans more 5 yr by instal | 89,664 |  | 98,423 |  |

9. | ULTIMATE CONTROLLING PARTY

| The controlling party is Mr J R Beveridge.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR

ON THE UNAUDITED FINANCIAL STATEMENTS OF

MAGELLAN 2000 LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Magellan 2000 Limited for the year ended 31 December 2022 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Magellan 2000 Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Magellan 2000 Limited and state those matters that we have agreed to state to the director of Magellan 2000 Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Magellan 2000 Limited and its director for our work or for this report.

It is your duty to ensure that Magellan 2000 Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Magellan 2000 Limited. You consider that Magellan 2000 Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Magellan 2000 Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Cooper Dawn Jerrom Limited

Chartered Accountants

Units SCF 1 & 2

Western International Market

Hayes Road

Southall

Middlesex

UB2 5XJ

28 September 2023