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Company Registration No. 11417841 (England and Wales)
Magellan Life Sciences Limited Unaudited accounts for the year ended 31 December 2023
Magellan Life Sciences Limited Unaudited accounts Contents
Page
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Magellan Life Sciences Limited Company Information for the year ended 31 December 2023
Directors
Dr A Dukkipati LS Wagle E Nuttin Abhiram Dukkipati Edouard Nuttin Laxmi Shankar WAGLE
Company Number
11417841 (England and Wales)
Registered Office
4 Raleigh House Admirals Way, Canary Wharf London E14 9SN United Kingdom
Accountants
ESJ Accountants Ltd 4 Raleigh House Admirals Way Canary Wharf London E14 9SN
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Magellan Life Sciences Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
84,822 
95,726 
Tangible assets
54,828 
61,681 
139,650 
157,407 
Current assets
Debtors
59,365 
26,072 
Cash at bank and in hand
27,851 
29,653 
87,216 
55,725 
Creditors: amounts falling due within one year
(132,484)
(2,341)
Net current (liabilities)/assets
(45,268)
53,384 
Net assets
94,382 
210,791 
Capital and reserves
Called up share capital
173 
173 
Share premium
691,099 
691,099 
Profit and loss account
(596,890)
(480,481)
Shareholders' funds
94,382 
210,791 
For the year ending 31 December 2023 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 June 2024 and were signed on its behalf by
LS Wagle Director Company Registration No. 11417841
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Magellan Life Sciences Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Magellan Life Sciences Limited is a private company, limited by shares, registered in England and Wales, registration number 11417841. The registered office is 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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2023
109,041 
At 31 December 2023
109,041 
Amortisation
At 1 January 2023
13,315 
Charge for the year
10,904 
At 31 December 2023
24,219 
Net book value
At 31 December 2023
84,822 
At 31 December 2022
95,726 
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Magellan Life Sciences Limited Notes to the Accounts for the year ended 31 December 2023
5
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 January 2023
68,534 
At 31 December 2023
68,534 
Depreciation
At 1 January 2023
6,853 
Charge for the year
6,853 
At 31 December 2023
13,706 
Net book value
At 31 December 2023
54,828 
At 31 December 2022
61,681 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
33,293 
- 
Other debtors
26,072 
26,072 
59,365 
26,072 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
70,742 
- 
Taxes and social security
19,455 
2,341 
Other creditors
42,287 
- 
132,484 
2,341 
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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