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Company Registration No. 12963210 (England and Wales)
Aegirbio (UK) Limited Unaudited accounts for the year ended 31 December 2024
Aegirbio (UK) Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Aegirbio (UK) Limited Company Information for the year ended 31 December 2024
Director
Marco Daniel Witteveen
Company Number
12963210 (England and Wales)
Registered Office
Blythe Farm Mill Street Gamlingay Sandy Bedfordshire SG19 3JW England
Accountants
CFPro Limited BKL LLP 35 Ballards Lane London N3 1XW
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Aegirbio (UK) Limited Statement of financial position as at 31 December 2024
2024
2023
Notes
£
£
Fixed assets
Tangible assets
4
47,255
59,186
Current assets
Debtors
5
521,805
72,892
Cash at bank and in hand
-
52,610
521,805
125,502
Creditors: amounts falling due within one year
6
(2,969,494)
(1,863,899)
Net current liabilities
(2,447,689)
(1,738,397)
Net liabilities
(2,400,434)
(1,679,211)
Capital and reserves
Called up share capital
100
100
Profit and loss account
(2,400,534)
(1,679,311)
Shareholders' funds
(2,400,434)
(1,679,211)
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 director acknowledges his 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 and authorised for issue on 4 December 2025 and were signed on its behalf by
Marco Daniel Witteveen Director Company Registration No. 12963210
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Aegirbio (UK) Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Aegirbio (UK) Limited is a private company, limited by shares, registered in England and Wales, registration number 12963210. The registered office is Blythe Farm Mill Street, Gamlingay, Sandy, Bedfordshire, SG19 3JW, England.
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 which is the functional currency of the company.
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: Laboratory Equipment- 8 years on a straight line basis Furniture & Fixtures- 4 years on a straight line basis Office equipment- 4 years on a straight line basis Computer equipment- 3 years on a straight line basis
Research and development
Expenditure on research is written off in the year in which it is incurred and expenditure on development that meets the criteria for recognition as an asset is capitalised.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Going concern
The financial statements have been prepared on a going concern basis. The Company’s current financial position and cash forecast indicate the presence of material uncertainty that may cast a significant doubt on the company’s ability to continue as a going concern. Despite the uncertainty, the going concern basis has been used in preparing these financial statements.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Realised exchange differences are taken into account in arriving at the operating profit.
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Aegirbio (UK) Limited Notes to the Accounts for the year ended 31 December 2024
Financial instruments
The Company’s financial instruments comprise of trade and other receivables, trade and other payables and loans payable arising directly from its operations. Trade receivables are recognised initially at transaction price and subsequently measured at amortised cost, less any impairment provisions for expected credit losses. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost. The Company is not exposed to significant financial risks such as market risk or currency risk. Credit risk is limited to trade receivables, which are monitored on an ongoing basis. Liquidity risk arises from the Company’s obligation to meet loan repayments and settle trade payables as they fall due. The directors consider that the Company has adequate resources to manage these obligations. The carrying amounts of trade receivables, trade payables, and loans payable approximate their fair values due to their short-term nature.
Leases
The Company leases its premises under an operating lease. Rentals payable under the lease are charged to the profit and loss account on a straight line basis over the period of the lease.
Current and deferred taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, except as required by FRS 102. Deferred tax assets are recognised only to the extent that it is probable they will be recovered against future taxable profits. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and is not discounted. Where applicable, current and deferred tax are recognised in profit or loss, except where they relate to items recognised directly in equity, in which case the tax is also recognised in equity.
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At 1 January 2024
81,506
6,052
7,806
95,364
Additions
-
-
829
829
At 31 December 2024
81,506
6,052
8,635
96,193
Depreciation
At 1 January 2024
26,710
3,969
5,499
36,178
Charge for the year
10,188
1,457
1,115
12,760
At 31 December 2024
36,898
5,426
6,614
48,938
Net book value
At 31 December 2024
44,608
626
2,021
47,255
At 31 December 2023
54,796
2,083
2,307
59,186
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Aegirbio (UK) Limited Notes to the Accounts for the year ended 31 December 2024
5
Debtors
2024
2023
£
£
Amounts falling due within one year
VAT
8,657
15,712
Amounts due from group undertakings etc.
492,624
-
Accrued income and prepayments
16,903
22,785
Other debtors
3,621
34,395
521,805
72,892
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
73,007
-
Trade creditors
50,581
16,919
Amounts owed to group undertakings and other participating interests
2,804,355
1,827,488
Taxes and social security
20,613
9,279
Other creditors
16,860
2,078
Accruals
4,078
8,135
2,969,494
1,863,899
7
Transactions with related parties
In accordance with the exemption permitted by FRS 102 Section 33.11, the Company has not disclosed transactions or balances with its ultimate parent undertaking or with fellow subsidiaries, as at the reporting date, the Company was wholly owned by Magnasense AB, which prepares publicly available consolidated financial statements.
8
Controlling party
At 31 Dec 2024, the reporting date, the Company was controlled by Magnasense AB (previously known as AegirBio AB until July 8th 2024). On 5 November 2025, Adc Services International Limited acquired the Company from Magnasense AB. Therefore, the ultimate controlling party at the reporting date was Magnasense AB, while subsequent to the year end the Company’s ultimate controlling party is Adc Services International Limited.
9
Average number of employees
During the year the average number of employees was 7 (2023: 6).
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