Company Registration No. 11417841 (England and Wales)
Magellan Life Sciences Limited
Unaudited accounts
for the year ended 31 December 2024
Magellan Life Sciences Limited
Unaudited accounts
Contents
Magellan Life Sciences Limited
Company Information
for the year ended 31 December 2024
Directors
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
3 Scott House
Admirals Way
Canary Wharf
London
E14 9UG
Magellan Life Sciences Limited
Statement of financial position
as at 31 December 2024
Intangible assets
73,918
84,822
Tangible assets
47,975
54,828
Cash at bank and in hand
26,442
27,851
Creditors: amounts falling due within one year
(243,120)
(132,484)
Net current liabilities
(150,546)
(45,268)
Net (liabilities)/assets
(28,653)
94,382
Called up share capital
173
173
Share premium
691,099
691,099
Profit and loss account
(719,925)
(596,890)
Shareholders' funds
(28,653)
94,382
For the year ending 31 December 2024 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 27 February 2025 and were signed on its behalf by
Laxmi Shankar WAGLE
Director
Company Registration No. 11417841
Magellan Life Sciences Limited
Notes to the Accounts
for the year ended 31 December 2024
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.
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.
4
Intangible fixed assets
Other
At 31 December 2024
109,041
Charge for the year
10,904
At 31 December 2024
35,123
At 31 December 2024
73,918
At 31 December 2023
84,822
Magellan Life Sciences Limited
Notes to the Accounts
for the year ended 31 December 2024
5
Tangible fixed assets
Plant & machinery
At 31 December 2024
68,534
At 31 December 2024
20,559
At 31 December 2024
47,975
At 31 December 2023
54,828
Amounts falling due within one year
Other debtors
26,072
26,072
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
71,342
70,742
Taxes and social security
55,087
19,455
Other creditors
116,691
42,287
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).