R•g1St?red numb&r: Q8045437 Charity Hvmber. 1163885 Magic (UK) Llmited IA company limited by guaranteè) Tru3teos' Report and Financial Statements For the yoar ended 30 April 2024
M•glc IUKI Umllod IA cornpany limilod by guarantèe) Contènts Page Reference and lmInIstrative dotals d thé Charity. rf$ Trustees *n<l ad¥iser¥ Tnjstees, repcKt Indap8ndent audrtor8' report on Ihe Ilnancial st8tements Slalemenf of financial tIVitIeS 10-13 14 Balance 3heel 15 Slalement of ¢8sh 11 16 Notès to the ftnan&al slatenIS 17-30
Magtc IUKI Limited A company limited by guarantFel Rofprgnre #nd AdmFT)l$tr•tlve Details of the Chjrlty, kn Iru51eb5 arKI Advisèrs For the year ended 30 Ap¥il 2024 TrtJstOOS JEniiller Daly KIrSne Boon. Chair of Tru5lee5 Carole Hobbs Iresi9ned 31 Augus12023) Dlar)e M8rlin lappoinled lg OctobeT 2023} Peter Chalwell lappoinled 29 February 20241 Uzma Chjudhry lappDfftled 29 Februf?ry 20241 Company regS$lèred numbgr 08045427 Ch•rlty rp9l$t•r•d thumber 1153885 Tradln9 namo Cily ol Roch&sler School Reglslèf•d offlc• Braclbury Hwse View Rosj Clifle Wopds Rochester Kenl ME3 8UJ Independenl auditors UHY Hacker Young Charlererl eUntantS Tham&5 House RomBn Soaare Sillin9bouine KEnl ME10 4BJ Sonitsr lèadgrshlp t•am Headlescher A55isianl Hr<id5 Aliqa Emrn8ti Kelly Lo%iell SuF)Iiie Halcli¥r Alix Wilson Kaiie Travers Ki&rafj Yaigs School Bu51tt9S5 t1gEr Page 1
Magic IUKI Lirnited (A company limiied by guarant8è> R¢lr•n¢e AOn)Inl$tr)tlvfr Details of the Charity. its Trustoes and Advisers For IhE yeaT •nded 30 Aprll 2024 BonkgT5 HSBC Bank PIC Floor, 71 Qwen Victorra Street City of London EC4V 4AY Solicitors Martin Tolhursl Solicitors 4 Ambl¢y Green Gilliw8N Busnes3 Pa ME8 ONJ Page 2
MagÉc IUKI Limlt•d
IA company limited by gu¥rJnle¢l
Tru¥tg9s' r•port
For the year ended 30 April 2024
The Trusiees ol Nagk IUKI Lim'.led, tl)e FxoprEror ol aty ol Flocheslei Schocl. presenl their annu81 report
together wlh IhB auditEd firbancial stslemenls of Ilie Charily lor Ihe yeor enrled lQ Aoril 2024.
The Annual rep?rt serves the purposes of boih a Trusèes' reDorl ard a direclors, reporl under company law.
The lingntrial 5&?lemEnls hove btren iY#p&red in ac£oodan¢e with thè accountsng poli=ies sel Iii note 110 Ihe
finanGi8151alemcnls. Tho Trusioès confirm Ih411 Ihe Annual reporl and firianc':Jl $1,71eftienis ol Ihe cha.lly r.or7)ply
Wilh Ihe current slalulory requremeTrls. the chaiity'5 9oveining document and the PlDV15Tons ol Ihe Statement
ol Re¢t)mTr)ended Pratttice ISORPI appllcable to charfllès prÈp3rtng their accounts in accordance witli the
Financlal ReportlnD Slar)dard applic8ble In Ihe UK and Republic ol Ireland IFRS102) leifeciivè 1 January
2U191
Since Ihe Charlly qual11$ as sn)all under seclon 382 01 Ihe Companles Act 2006. tle Str8leglG report Tequlred
ol modiiim and l#fge ¢omp#nies vndi 11)e Companlès Aei 2006 (Strategic Rèport and Direclors, Repoill
Regulations 2013 h85 Dmitl2d.
OBJECTIVES AND ACTIVITIES
MAGIC IUK} Lld Is a charity sel up lo help children. young aduh5 and teir faThilies who have an autiST
spe¢lium rjiaonosis or aio in the process of havin9 one di£lgnosed. 11 dirns lo deliver serviLes lu Ihes
gioup5 ol the publ+L Ihai will help alleviale the addS1ion81 problems Ihai children ancl young adults with
aulism ¢8n have esoecially wilh soci81isin4J or bein9 in soclal siiuallons. 7his directly benefits the ch5:dren
and young adult5 by providlntj XprieLe and slfDle9ies for preparlng Ih8m ftsr adult lifo in Ih? genef#l
pubbjc.
The organlsal',on is established to.
Help ano supporl laniilie6 with chlldrèn with aullstic spectrum disorder Wilhin the Medway Towns.
Prtsvide a cenler ol informatKJn Tdaling to aulisrn and co-exisling di50rders.
Establish and malntaln a parent based advisory group lor sharino iiilorm81ion.
Ariar)ge atI¥ll1S fDr the piirpt>5e ol soci81 skills deve'opinenl for ctriildren wilh auliblir.
speclrumdisoideis ollering exlia
Magic IUK) Limiled IA corwny Ilmlted by guarantee) TYu$i•bs' rèport Fvr Ihg yoar gnd•d 34 Aprll 2024 Alm.. Qvr highly ¢xperienced and dedated le4m prpvidès an ambitious curriculuffl that nurtuie5 and thsllewos txkf pupils, Our aim is lor pupils tD be successlul city of Rhesler Sdiool them lo b# equlpped bvilh the ski11s they need lo lead purposeful 8nO prortDCliv6 lives whèn Ihey leave us. We WDrk collaboralively %vllh lamili8S os #n ip)l¢gro1 parl r)1 our $eryice, 18wynislng Ihdr central rol8 in ensuring their thildrèn Ibrtve ?1 schotsl. Valu85'. City ol Rochestsr SchoDI values focus on our rnollo ol'C¢MftdencÈ. Resi11ence. Success.. ConfideneÉ- wè value Inspl•l¢w?l. aspli&itoryal and experi8nlial leainiw inside ènd OLt1de the classroom to deYelDP puplls coTrfkIEe. Re5115ence- we value p3rticSpative rn1Thj that develops puplls. thinklng and $ocL31 skllls. eTrabl9 Ihen lo undeisiand tr1r autism and lo devélop re"e7)e? lor life. SuceÈss - value le8rning outwrnes Ih81 are holistit and which measure and celebrate puplls, suc¢e5$ 81 school an(J imwiove their lile rhanc8S. ACHIEVEMENTS AND PERFORMANCE City of Rocho8tgr 5chog1 Pu 11 numbers Pupil numbers durin9 Ihe yèar 10 Ihe end of Aprll 2024 grew in line with fxp8Ctations lo 59 pupils. eonslsllhg 0114 girls and 45 boys botween Ihs Bges of S ènd 18 Stafl numbers In Aprll 2024 wt 72 employth staff, ihi5 15 Bn inciease of 9 staff to thè sarne perlod laBi year Ve Gonlinue lo work cknsely wilh parenis incl familles lo ènsure they can 4ccess fully thè support available lo them Irom oihpr specialisl se., vis. Our excgllenl paslorEI support ei)6ur88 Ihal Ihe relationships wilh paTenls is pr)srteI8Lftg to pupils allending sthod On a mure regulsr ba515. We have a number of r¢gvlar opportunilb$ 10 V¥elGtsme paronls onlo the school which &Te 8lw8ys wel1 attende4. r curriculum and outcomes The Cliorily Pfovid¢s ¥n enrlched, ielevanl and bespoko vJrrlculum to puplls who hav8 an EHCP with Iheii prlmary need being aulism, The majoTity of our pupils coma from Ihe Medway Towns ?nd Kent area The PLtpijs allend are aged 5-18 year8 and as at 1he ené ol Aprll, 59 pupils arc on rolE. In h8ving high ambition to ralsg aspirations lor PLSpi15 With SEND ad offer widei opporlunilies, Ihe schooVcharSly is now able to offer full accredited programmes ol slucly os well as piiblic exam5 50 th81 pup18 ¢211 ntsw iakta parl In nailDnally recogr)iSed qualificatLons Ihsl employers requlre. These include Enlry Level quallfi0?lIS 10 GCSE #nd BTEC5. In 3ddition. our extended lileskills programme prpreS puw,Is for life beyoncl school, teaches them so¢ial and communily responsihslily. 11 rn¢lude Supporting p[18 in thèiT diivlng Iheory an(J drNing lessons. oll&r cère8rs advice lo all our puplls and from on going disrusS$ ¢roale informod plan5 that ¥dentifie5 the Tight cafèer paths and gual,'fic81ions ngedt 10 access the preferred profe551Dn foT ou", pupils or lurihef edu¢aiion opportunilTe5. le 118v 5 vehiblÈs Iliai al Lis lo ¢xlend curriGulvtn olfÉ¥r outside thè school sellino. We work will) Ihe local Community and external partner5 to organlse leatning Opport•1111eS Ih,11 aevelDp lilc skills &rsd social Skills. This iTrttludes animal husb8ii¢iy programmes. Dtlending Gollogo for cookery sessions. lÈer'.iirig Ic) r*le l)orbe. wvik experieiice tkiinl 5Pfaying. work.yg in a iNareho4Jse, refurb1shing furti'.luie, working in a calè to give some examtAe5. In addilion our PLipils are engaged In con)muiiliy projects and these hpve includèd worklng a nature reserve renovating palhways. WOTking in a cliuich renoval:-ng the grtyjnds kii¢hen areas d (levelopiri9 an allDITTi2i1 aiea fo-. a local slables. Page 4
agic (UK} Limited IA company limlted hy ouoranteil TNstee5' report For the year ended 30 April 2024 Sadly for many ol our pupi15, educalivn h¥45 bccn a riegalivp and oll¢n Iravmal¢ expprlei)ce, Our wellbèing leam Is a leal strength ol the school offerin9 emotionÉl supporl lo our pupils, improving Iheir meiii81 wellbeing and re-engaging fan)ilies inlo supporting and valuing the benpfi15 a gpod &ducal&ofi LJ piovldp. city of Rochèster School Vo¢atlonal Colleg• We wer8 proud tD open our VoGslltsnal College ahead ol scheduk in line ivilh oijr exp$nslon pltsns. Our bu.'Idinu romprises ? workshop wlipre wg deliver lechnitsl snd vocaiitinal PfO9rammes lor 811 pupils who alle4cJ Cily of Rochestw School. In addition, there are classrooms whore Ihe Sixlh Form pupils are based. KS5 puplls are based 81 the Vocalion81 College and there is a blg fu5 on PT8parlno Iham Ivr life posl Clly of Rc¢hesiet SCI)1 Vocational College. Our wide range ol programtnes that all pupls can aGGe55 IJIGlud8". onsirJciiDn Engineerin Tran5PCrt and VehScte Public Services Hair and Be8uIy Sport Computer Soence Hèalth and Social Care Dlgii&l Media Busine55 Adminlslrailon Dr4vino TheOryrIVIng Lessons In additFon. pupi15 also Study core su'eGls aTrd h8ve a wrap around welfare arld Iher¥py 5erwre - whicl) In¢lvd¥s". Englis Malhs ICT PSHE Exlen¢Jed Lile5kills Progtwrime C8rees Th¥rapie51liiieeyIIOnS Extended Work ExpeTienrE ProgiammB3 Sponsored Proje¢is from locbl Èmployers External accwediialio We W8Te dèllghLo(I to be able lo annoJnce (hal ID Seplember 2024 Cily of Roclieslpr Sch(xs1 w3s 3warded 11 Ad¥anctJd specialist AwaTd IrDm Ihe Nati)nal Adlistic Society in reGognilion trt ou- uJrrir•Lilum and how we 5upw)rl Dur oJlusllc F)upils and siafl 'Slaff Iiave a worhi17g knLvwle(tye ol ewicl&nce-infonii8d uppr¢J£tGIKas i1350Ctiilo(I wrtlj gvoxl A(IlkSIII PlaG1." 'ÈaGlI aiili&lK y<iuJN pvisusj do'ivlups skills Jiitl G(vilidLYii iii wtyiii¢J (wl lasks intl¢'ppi?¢Jpiitly aiiil iii l)eMig empowerecl to mak6 11)èlr own Seading to them haviiw elor G¢trol Knd soll-titJlorr(Hiiy Ilioji Page S
Magie (UK) LIMlted IA company limited by guarantett} Tw31e?8' report For ihe year ended 30 April 3024 Kent Teather AwaT¢ts A numbv of parents and Coiiéagues ntsmlnaled slall In Ihe K8nt Teacher Awards 2024. Our Hèadteachei W85 nuiDirFeied Ihib year and although nDI an overall winner, her dedicalion and commilrnenl to the school vias CognISed, whb is something we are vèry proud of V¢luntèèYs DuTirig the y83r 1 VolnISer l)as provided Ihelr $ervlces to Ilie Fhailly whh equaled lo 30 hour5 of donated lime. FINANCIAL RE)tryEW The charily has 8galn conbnu6¢ lo gfuw OVV Llie peri)d wilh thtr number ref8rra15 to City ol Rochester School increasing. K4ore slalf and pup-ls have been broughl t>oJrd &nd the xhDDI bulldiTrgs incr#ased wilh th2 oponing a new vocational centw providing 500 Squa me1ers of addillon21 space and a 3 room Iheropies hub on Sile to Incieas8 the number of therapeubc Intervenlltsns that can be undertaken. Fundin9 during the perio(J has predominanlly been dèlfvered vla Medway and Kent County CourTGiI. Both of these pro¥lde lundlng lo eale the charity 19 provlde &du¢allon and Siipporl lo ihc chiklren. young a¥ullS aridlhèir l•rYiilies with 811 aim ID help them a8 Ihey qrow into adurt mamber5 ollhe public. The 5plil bets¥o(tn pupils funded by Medway and by Kent local aulhorilies has reT)iain6d roughly rIS18n1 durfno the period. malnlaiiiing Ihe mS1'.'gallDn of ris¥s involveLI wrth funding 5ttÈams. Both Kent and Medway have now implemented biddifig processes fgr pupil reletrF.$, howevor we have still y?I lo see a change in Ihe WBY potenti81 puplls are r8f@Ifed lo us and releyral nLbmbeis rrJn)ain slroiio, Key Pèrformance IndiGalors Tulllon Income as a percenlage ol total incom&- £2,931,792 of £2,944.333, 99.6°A ol lolal incDrne, 0.2% down on th& pre0$ year. Slaff cost5 are £2.246,397. which Is 78.1'A ol total expenditure, a decrease ot 2. 1V/b fr(Th la%1 Yr. A$ J peicefjl8ge ol [utsl income. 51?fl w#16 are 76.3'k In 2024 compared lo 76°A in 2023. 72.4°A In 2D22, 71.4Yth èin 2017. In 2021, 76. 1 ¥,. in 2020. 52.9 /0 In 2019, 69 8Yo 'n 2018 78.70P DonatiOS af £5, 116 In 2024. are LV 0.05% Irom last yoar and remain less Ihan 0,20/0 of lolal income in 2024. Re5erve5 Policy The Board of Tiust6es".e¢()gnise 11)e ne¢¢ for Ihe ry9oni5alion lo koop in reserve a 'evel 91 lunds that wlll enable it to cotinJi e sutsporling ils bei)eficlais for Ihe loreseeable tulure. The Board ol Trustees also recrjgnlse that Ihe luDds ol the organi5ai.on whoro possible should be Ye- invested into the 8-tivities Ihal it piovides loi its benefi¢iatie$. Distin9 Ihe18*1 le%v l.n8iicili I pe.'iods, Ilie lyusleos in comrnDn 1th other indepenclenl scliools have inve51Èd subslanl"'al sUS Into i'iiprtsvirig Ihe s-')ool bulldings and la. lities. Ylrl a".0 comiii g lo the end of the iyilièl prograrnme ol refurbishmenl and de¥ebp1 ent however tl)gr@ is sllll some inveslmpnl re¥',iiièl ID prDvidp arwj mainlHin excelltrThl karning laalitles foT our pup115 Page 6
a9ic IUKI Li¥ni1g IA company limit9d by gu8r8ntgel Tvu8t•¢$' report For thg y8ai ndd 30 Aprll 2024 With Ihl$ in mind rhÈ IriJslee% hgvé ayr8éd Ihai Ihs lavel of ieserves held shoukl be sufficionl Io SUF)porl 3 nionlhs pay lor empioye&s and are towards 115. The Gharlly lielLI casli and cash equivalents at 8nd of yeai of £645.417 compared ID £582,961 in 2023 £467.323 In 2022, £332,455 ii) 2021. £191,103 in 2D20, E120,097 in 2019 and £59.419 In 2018. demonstraling an cv8ran increaslng Irend towards Ihls goal Goiny eotteern Aiier making appropriate enquiries. Ihe Tflt5tee5 have a reasonable exp0clatn IhJl the Charily htss #deouaie iesources to conllnue In operational exis1¢ for Ihe IoTeseeable future. Fc)T IhL8 reason. Ihey conlSnue lo adopt lh8 going concwn basls in prepariny Ihtt linandal sigtemenls. Furlher details reg8rdiryg tfje sdopliop. DI the golng ¢oThcern basls can be fwnd in Ihe accounllng poULles. PLANS FOR FUTURE PERIODS W8 ave created a 5 year slrBlegic plan where are looklng Io appty lor a m8lèrig1 char)gè lo our slalus 50 we can expand from 60 pupi15 10 8J pupi15 over Ihe 5 year pe.. iod, We will conlinue lo ensure the building is well maini8inet¥ and slèffing lawels in line wilh whal Is required d8spile ihe chalÈnges ol re¢riJilmenl 8nd relention in schMIs. STRUCTURE. GOVERNANCE AND NANAGEMENr We have wo.'cory8d Iwo TtLJsle&s Ihls yw. Our skills set is rich 8nd varied The charity. MAGIC IUKI Lld Is the Pfoprielor of City ol Roche&ler SchtrJl 8nd as su¢h Ilie ¢harily's Iiu51ees are also the t11151ees Ihe s¢h()018nd are responsible lor tlie over811 managemenl G(throl of boih oarliy and school. TIE bgard metl 6 litnes pef year The wwk of IMermen11n mosi ol tlielr pollcies is carried out by Ilie Senior Leader5hp Team ISLTI. Th8 Company Secrètarylschool BJsiness Manauer 15 r&sp)Iisible for Ihe ', epaiation ol papers aryd méift£n)èth18ccounls. All Iruslèes give Iheir liffle freety and no tenuerati was paid in the year. The Seryor Leadership Team ISL TI and Company secrery1Seh0ol 8u8iness lthn8gei arè employees of the charfty. harlty Ctsnstilutlon Magic IUKI Ltd is g Company Litn',led by Guafwleè as delined by Ihe Compt)nies Act 2006 and is goverid by 115 Article5 of A5sofiir Iloii dated. 25 April 2012. 11 s ré9lSterèd as a charity wlth the Cafity Comm-.ssi)n. Page 7
agic IUK) Limitèd (A conwany Ilmlied by guaranteel Trustees. report Fow iho yo¥r •ndgd * April 2Q24 Organlballonal Structurelmanagement The oroanisalion and ils properly is adminisl&"ed 8nd mon8ge¢l in acwr¢ance with thra COn511tul'-on by the IrLislees who dElerrnlno tho general policy of the chBllti' and school. Tlie Boaid of Trustees con&sls ol nol less IhAn 3 members as)d nol more thon 6 mernber5. The Board ol Trustees has d818gal8d lh8 responsibibly lor lh$ dgy lo day operaliop vf the or9an15allon lolhe HEadtEaEh¥r ol the City ol RoGhestèr Schod. Alicja Emmatl. Ilie HeafJiea¢her underiaktss th¥ key leadership role oversetyinu edue•aliDnal. pastoral and administrative functions In consullafjon With the S6nlor LeBdershlp Team. The Head Teacher. Comp8ny Se¢relarylSchoDI Busin855 Managei, A3s15t8nl Heads are inviled lo attend Tiustee's meetlng5. Rijk MJnag?mpnl Th@ Iruslees have a duty lo =denlify and r8vi&w Ihe risks lo ivhi¢h Ihe ¢harily 1$ ¢xposed and lo ensure poiopri?te contrrAs are iii plate to provid8 reasongble assur91e against fraud 8t error. Delailed consider3lions of risk gre del&gated lo Ihe HeHd Techef Bnd Senior Leadership fearn. Risks are id8ntifled. assessed and cc>nlrols esloblished IhTouglioul Ihe year and Ihe FsK RegisleT updalod_ The risk register Is reviowed regul&Tly by lTU51S 81 their nieelings aiiy Immediole or hlgh risk5 broughl lo the Irusle&s 811er)lion immedilely. ThTough the risk managemènt presS established for the 5eiiooI, th6 trusigÈs are sallslled that the major risks Idenlifietj hAve b&n bdequaleiv mitigaled where necessary. Key man•gemenl p•rsonMI Tha iruslees contsidor Ihol Iliey, together wilh Ihe Head Teacher and SLT c07nprls& the Key Management Personnel. The trustees give thr limè freely and are responsible for selling the Head Teacher'5 pay and pay IL)r any slaff faIn9 outside of previoL5S agreed PAY ran96s. The Trtsslees hove dele0a1 ie5PDll57bilily IDr pay decL%i011S all other omployee5 lalllng wilhln BGree(J pay ranges. Tne trustees meel oncg 8 year lo ievi8%Y Ihe pay and appr81681 pO¢Y Incllidlng svlllno tho pay ranoes for th8 upcoming y8ar. Recruiknent And Appolntmènt of Nv4 Trujleos Once 8 new trustee ha$ b¢¢n recruiled in with the piocesses laSd out in the charity's govarning documents, Ihey are given a welcome pack and aesS lo GE)vernor Hub, è 50UTCO ol Informa.On for vernDT8 Df schools and a prjvate IYu51ees only shared cloud drive. On Govèmor Hub are L) nurnber ol the lalesl (locumen15 ¥equlrod lo provid& a basic Inducllon lor all new trvs18es and lor 18l¢rènc,è IoTo11 tle8S on an ongoin9 basis. Sh8r8d dociJm¢r)Is include- Artides of associalion ¢rlllSG?le ol inwipoiatlDn Charities commission c8rtilcal& Poliry docLtrnents sanisalional slruclure diagraTh fjosi re¢eni annual repurl Mosl rv¢e."Il an11ual account5 Quailerty 3agTnnL acco-.In15 Minules of previous Iruslèès me&l':gs Belng a Iruslee CC3 '1he E5senio1 Tr'Jslee'. bQij11 you iecd lo know Ich3ril commL85ionlw¥Ybv.chaTitvcornmsion.r OVk1 Ivblicalioi)slc¢3.as-Ix MetnbeisliSp of Ihe Naliorkil Governors Associ8tion INIGAI to hel? K%ilh Ihe understanding of how schtsois t¥)erale 8n(J Il* ¢har',ly Irusiees role '.n guidiig ityls IncludlThJ onllne tra11g. DelaiL5 arKI documonlFlion lor fulwe IrLe nièeting5 P?g& 8
Magic {VKI Limited IA company Ilmlted by guaTanleè Trustpes, repDrl For the ytar ended 30 Aprll 2024 In addibofi lo Ihis ac¢e&s. all new Iru$lèes are invired 10 visil Ihe charily"s main office to meet thè seniDf managemerti ie8m. slaff and where appropriate seryice uses lo better ufidersland thè ch&nly 8nd Ils people. STATEIIEMT OF TRU8TEES' RESPONSIBILITIES Tlie IrStets$, are a',so the directors of KIBgic IU Kl Limilpd for the purpose of company law. are rÈgpon$ibl& lor piep8rlng thè Triistees, Repo,"1 and the financial 51alements itb 3ccordan¢$ with appliknable lawand Uniiod Kinodom AGcountlng Standards Iunlled Klngrfom Gen¥r811y AL¢?uied Accouii1ing PiaLli=el nmpany Low r8qulros Ihe Iruslees lo prepave fn)aiic58I5talemLs loi each Ilnancial yoar which give a Iruè and lalr vièw ol the slate of 8ffairs ol Iho charity and ol the inG¢minu rEsourcos and appc3tlon of re50urGe5.inclLi<Jing Ihe incDTne ond ¢¥xpendilui¢. ol Ihe chai4lable company ftsr Ih81 y•ar In preparing Ihese fln?ncial 518teinents. 11)e Iwst¢es ate requwed to.. selecl suitable accDunllng pollcles 8nd then apply them conslslently., ob$ervè Ilie melhods and piinciples in the Chaiities SORP- makp judueNienls and ealimal£$ Ihal ae reasonable and PTLtdent'. slate whelher applicable UK Accounting StsrvJard5 have bBen followed, subject to Biy malcrial dorJaTture5disd05ed and oxplainod in the financTral 5tatemtsnls-. aiid prep8r& th¢ financi81 slalements on tle going concern basis uTrle55 It Is In8ppropr181e lo presume that Ihe chanty wll continue In operation. Tho Iruslee5 ale ie%ponsible lor ke.oping adequale 3coovnllr)g rec.ords Ihal disclose with rèasonable accuracy al any liine Ihe linancial posilion ol tho e4)arily and enable Ihem to ensure Ihai the financial sialen)Ènls coinplywilh the CDmpanies Acl 2006. They are also respong-.bk lor safeg'Jarding the a5se15 DI the chai ily and hert@ foi lakin9 roasDnable steps lor ihf PleVEnlion oiid d¢l¢Glion ol Iriud olher Irieoularitios. DISCLOSURE OF INFORMATION TO AUDITOR Each of te Iruslees has confirmed thai there Is no inlornalion DI which Ihoy are a[ whlch is relevant lo the audll, bul ol which the au4il¢y 1$ Uni?ware. Thpy h8ve lurllier con[ined Ihai 11)ey have 18ken appropTialesl?ps io idenlify sJ¢Fi relevant bTiformalian 8ftd lo establish Ihat Ihe aut1itOf Is Awa ol such Inlomialion. The Iru51oe5' report was approved by Ilie Board ol Tritrtslee%. (r L Ilc'c" Kirstine Boon Chaii ol irlislees Dated.. Page 9
Magic IUKI Limiled IA coinpany limited by guaran1eel Ind¢p•nd•nl AudStor5' Report to the Members of Magic (UKI Liinlted Opinion We h8 ai¥llled the flnancial statements of MagK IUKI LsmiiÈd Ilhe 'drilll for IhE year ended 30 April 2024 rhh comprise the Slalemenl ol financial actNilies, the BatanGe 5h¥4. Ihe stalent of cash flows and the rela1 tvJtes a sufflmary of sigt%ficaiil accaunting pohciès financial reputing Tramewo thal has beBn applie(J in thelr preparalion is oppI1e1oW on4 Unrted K41odom Accounting Standards, indLJdin FinancTal RepDdin9 Standard 102 'The Financial Reporting Sland?Fd applirablp in the UK and Republic of Ireland, (Unrted KingdoTn Generally Accepted Accounling Pi?clicel. In Qui gpiron the financial $l¥lements', g¢vg a true 8nd fvir view ol lh state ol th8 charitable compeny'3 8ffairs as * 30April 2024 and of its In¢oming resources wil èppllcalron of resources. indudin9 IIB end expen(Siur8 for th& year Ihen ended: have been property prepar In accOrdae Unrted Kingdom Gèrter#lty A¢eepled Ae¢ounling Practice,. and have been prepared in acCordce with ihe iequirements d the Companle5 Act 2ts)6. Basis for oplnlon We Conduct our audil in accordan with International Standards Auditing IUKI IISAS IUKII 8ppltable law. Our responsibilttles under those 51aTrdards are furthèr dbscribed in the Audilois, respoThslbit1es fDr Ihe audit ot financial 5taleinnl$ $¢dion of 0r report. We ale indepgndfrnl of th6 charitable cwip3ny in accordance with the ethiGal requirements that are relevant to oui audit ol Ihe financial statements r¢ the United Klngdom. including the FInarla1 Reportlng Councll's Elhical Standard. and vie have fulfilled our clher dhi¢#l resp)nsibililies in accordance with Ihese Tequiiemenls. INe believe that Ihe audit 8vKlence have obtaned is 5uffic48nl and appropfiate to provide a basi5 lor ¢wr opinion Conclu$ions rplalln9 to 9olng ¢on¢•rn In auditing the linancial statements, we have CondUd tFwt the TNslee$' use of the going ¢on¢ern b85is ol acwnting In thè preparalion of Ihe finawal slalethehts ts approte. Ba5ad on Ihe ivork have pertormed. wg have not entifIEd any maleiial uncert&nties relaling lo evefils condilkjns that. Individually gr cdlectively, may casi signific8nl doubl on the ¢harilable c(Hnpanls ability lo onl1$e as a goiftg concern lor a period of al leas( twelvè monlhs from wh6n Ihe financi slaletTBnts ara aulhoF158d for issue. Our responsibililies and the resp)n8ibililI of Ihe Trust80s with Te5peci lo golng concern are d&scrlb8d In the ietèvant sections of tliis repNt. Page 10
Magic IUKI Limited
IA company Ilmiied by guaranle81
Independenl Auditors, Report lo the Members of Maglc ILIKI Lirnited Icontlnuedl
Other informatioji
The olher inloTmalioii comprises 11 infoimalion iFxlud&d in Annual ieport other than Ihe finanaal slalem8nls
and ourAuditois' pOd tliereoii. The Tru51ee5 afe responsible tor the othèr SnfoTmalion contained within the
Annual feport. tsur tnion on the financial 5talements 0$ not cover the other inftsrm¥tidn A. except to the
extent otherwi50 explicilly stated in oui report, we do not expiess any fovm ol as6uranGe conclus¥Jn Ire0 Our
rèsponstr)ility is to rèad the other information and. in doing so. con5hJer wliether the other infonnation is
malerialty ineonsistont wilh thtr finwoial $latemenls or our knowled obtaine¢ In Ihe CQUfse of Ihe aLklil, c
othp¥wi5e appeaK5 to b8 maleiially mis51aled. 11 we identity Such material inconsistenc5 Dr appafenl material
mi5StBtemenls, we are required lo determine whether this gives rise to a material n)isststement in the financial
stalem¢nls Ihernselve$. 11. b8sed on the work we have rfOrM0, ¥rfe ¢on¢lude Ihal IhoT¢ 1$ a material
misstalernenl ol thi5 Other information, 8re WUlF1 to reputi thal faEI.
We have Iiolhing lo report in th regaré.
Opinion on otl?er mallers prescribed by the Companlès 2006
In our cpintin. ba$e
MagSc IUK) Limited
IA company limiltd by guaranteel
Inql•pndttnt Audltor$' R•port to tho Memb•rs of Illagi¢ ILIK) Limit•d Icontinuedl
AudrtoTs' responslbllltles for the audlt of the Ilnanclal 8tatèmènts
Our objectiv85 are lo cl)taiTr reasonable assurance about whelhertkne financial staleinenls as a whole ale free
frC malertal misstatement. ther due to fraud 01 erior, and to Issue an Auditors, report th91 indud¢s our
cpiniN. Re8sonable aSSLtrance 1$ 4 high level Cf •ssuran¢e, bvl is a guaranlee Ihal an aud conducted in
c¢rdance with ISAS IUKI will aayS dete a material missta1errt when It exisls. Misstatements C aiise
ficn fraud 01 effoT and are consIded material Il, IndivKlually or in 8ggreg8te. they ¢ould reasonably be
expecte¢ to infi¥8nca the ¢conLNnlc de¢i$ionG ol users laken on the basis of thtsè finanual slalomonts.
Iiie9ularilTes. irtludln9 fraud: are instances of non-cornpliance with laws and rogulatiC4ns. Wè Oeslgn procgyures
In line wilh oui re5p0n5ibllilS, oulh.ned above. to detect mal&n¥l nii$sl#temenls in respecl ol irre9ularilies.
Including Ifaud. The trxtent lo which cur proceduies are capable ol deleGting irr?gularilies. including Iraud 15
detailed bel(w.
Our approach lo identfyino è¢)d assessing the nsk8 of malerial mi851alewent in re5pecl of ifregularttte5. including
Ifaud and nOrkcomI wilh laws and regulabcns. was as loUow5'.
we Identilied the laws and re9iiLAtior appIab la Ihe chanty Ihrough discussioThs witti man&Jemenl, 4nd
IIDFll our kn¢)wledge and expert6nG8 DI the charity atKI wider educat1 5èclor'
we fo¢u$ecl gn spe¢ili¢ l?ws and retsulalioris whth w• considered fTl8y have a direct tnèlerlal effect on the
c19 Of the operations of tlie charily, inclding the Ch8ril¥ SORP and the Comp¥iiies Ad 2006,.
we as5eS5ed th& extent of complignce wrth the Iwws and regulalions Klènhfd above througl) rnaking
enouiries gf managerwEnt and Speci9 Gorte5pondence', af
identified laws and re9ulalion5 We comrnunlIl wrthin the audit 18am and the team remeined alert to
inst¥r)¢es ol noii-conwliance Ihroiighwl tl)¢ audit.
We assgssed Ihg $uscapiibilily ol Ihe clwrity's accovnls to maleri81 mi$slal¢menl. indudirva obtaining an
erslanding 91 how fraud tscGui. by.
makng eTh]UiFies of mgnagemenl as lo where they considered Iherfr was 5U5ceplibS1ity to fiaud, thelf
knowledge o13clual, suspected and alkg¢d fro1., and
considering the intemal controls in pla¢e 10 mlllgate risks of Iraud ond non.¢tynplnce wrth l•s and
reguJ8tlons.
To address th8 fTsk of fraLid through nianagemenl bias and ovwrlde of controls, we..
performed 8nalWscal procedures lo identify any unusual 0111118xpected ielalionships..
lesled jWTnal pnlries lo idenlify unusual Iransaclions.,
assessed whelhpr judgements and a83urnplion5 madè in detemilning the accounting estimates set out in the
accounlihg pdicles were IrvJi¢¥ll ¢1 polenlTral bkgs". 8nd
invest¥Jated the ra14onala b6hinl s¥Jnllkanl or IransadKns.
In response lo the risk of irregulaTltles ai)d nOn
Magic IUKI Limited IA tompahy Ilmlled by yuaranlefr) Indep&ndenl Aiiditor8' Report lo the Members of Magtc IUK} Limrted Icoiiliiiuedl Other mattèr5 The finanaal slateiiienls for the year ended 30 Apnl 2022 viere audiled by Ihe preoecessoi 8VLSiloi. Crossley Financial AccouTrtlllg Liiiiiled. The audil report was Issued on 25 January 2024 and expressed an unqualified audi opinon ¢ the finafitial slalernenls. Use of our report Thts report Is made solely lo the chanlable corpan5 mert)eT5. a5 a W, in accordance with ChaplpT 3 of Patl 16 of the CompaFues Act 20[ Our athil WDik has been undertaken so that we ii)ighl slate lo the Chl13ble anyb merrt)er5 those m8ttert we are quired lo slate to11)em In an Auditors, report )d for no other PUIP05e. To Ihe Idlest extenl peimilled bl law. we do nol accept or assume responsibility lo anyone other than Ihe charitable company and its members: 3S 8 body, lor our audrt wo, far this report. or for the opii)ions we have fome¢S. UHW YOJ) Tr•¢ey M¢)w* BFP ACA Isgnior statutory audilorl for and behalf of UHY Hacker Young Ch8rter&d AEcgunlanls Stalutory Auditors Thames House Roman Sqare Siltiiigbournè Kent MEIO 48J Date. 22 J6 Za2S Page 13
Magl¢ (UKI Llmitèd IA company limited by giiMrantel Statemeiil ol finaiicial activities Ilncoyporallng in¢cnè and *¥pendlture a¢¢ountl For thg y¢#¥ onded JO Aprfl 2024 UnrestrÉctèd funds 2024 Rtrted funds 2024 Totbl fund¥ 2024 7otsl 2023 Note InGomg from: Dollatii>ns and 9ac1@S corne from charitable activilS Inve51rnents Other trading acliviti¢s 2,079 2,931,792 2,293 5.634 3,037 5,116 2.931,792 2,293 5,634 5,257 2.564,837 Total Incomé 2,941,796 3.037 2.944,835 2.570. T32 ExpÈntliture oh: harllable 1vIlle5 2,873.842 72Q 2,874.S82 2.435,242 Total •xp•ndlturb 2.873.842 720 2,874.2 2,435,242 Not Incom• TTansfèr5 ten fund5 67.956 12.980) 2317 2960 70,273 135,490 17 Net movem8nt in funds 64.9 5.277 70.273 135,490 Reconciliation of funds.. Tolal lund5 brought lor•rJid Net movement in tunds 801,807 64,996 801.607 7Q.273 666.317 5,277 135.490 Total fund$ carrlod forwar 868,803 5,277 872.080 80t.807 The Statem1 ot FlnaThcial Aclivilies includes 811 gains and lotses tetogni$ed In year. The ni)t£s on pag8s 17 ID 30 form part ofthese financ1 sEalemenls. Page 14
Maglc IUKI Llmlted IA company Ilmiled by 9uarant861 RegislerÈd nvmber= 08045437 Balaiice Sheet As at 30 Aprll 2024 2024 2023 Not Flxed as5et6 Tangible assèts Current assets 926.386 886.744 Detrltors Cash al bank and in hand 14 $3,803 645.1417 23,166 582,961 699.220 696, 127 Cred*oT5.' amounts falling olue wilhir) Dn year 15 <482.S391 f385,028} Net curr•nt 4S$gts 216 681 221.099 Tolal assets less trrent liabilities 1.143.067 1. 107,84J Creditors.. arnounts lalling due artel Thre than one year 16 127D:9871 (306.035J Net assèls excludiiig p9nsion a95et 872.080 80180T 872 080 801.80T Charity funds Restricted funds 17 5.277 866 803 Unreslri¢led funds 17 801,807 Tot81 futhds 872.08Q 8QI.807 The Trustees ackn¢yliledg¢ Iheii responsibilities for complwng wrth the reou¥ements ol Ihe Act with fespecl to Actountlng records and prepaFalion of flnancial st8tement& The linanc4al stalemer¥ls have been prepared n OCCOfIJan wrth the provis¥Jn$ applictsble lo enlities sutr4ecl lo Ihe small cc¥npar)ies regyné. The finaii-ial slelernents werè approved and aLilhoriEed for issue by Ihe Trustee5 On 2f J(L anrl slgned on tlieir behall by 2S ¢ c 1.% C'c, KirstlnE Boon (Chair ol Truslaesl The n88 on paye5 17 10 3Q form of these linancial stalemertls. Page 15
Maolc IUKI Llmited IA compavy Ilmrtod by guarant••) Statement of cash flows For the y•r ended 30 AprS12024 2024 2023 Cash flovn froiT> operating aclivities Nel cash L15ed in Operan9 8clivili25 174.413 238, 187 Cash flows frorn Investing activilles Dividends. Interests and ients from Itwestments Proceeds Iroin Ihe sale of tangib fixed asse15 Purchasè ol tangible fi¥ed 8ssels 2.293 162 198.8501 (109,3g4) Not cash usgd in investing actSvltl95 196,ssn 1109.232 Cash tlows from financing activities RepaentS of bofiuwing 115,400) {93.317) Nel tash usèd flnanelny activitiès 115,4001 113.3171 Change in cash ond cash èqulvalents in the year Cash and cash equivalents at the beginning of the year 62.456 115,638 582.961 46T.323 Cash aml cash •quivalnts It th• *nd ol lh• yoar 645.417 582.961 The nolès on pages 17 10 30 form part of these Ilnancial stalements Page 16
Magic IUKI Limltod IA Company Ilmlted l)y guarantee) Notfjs to the finonclal stat¢m¢nts For the year endod 30 Aprll 2024 Charily information M•gi¢ IUKI Lmiled Is B piivote conwany limited by guaraT)ie& in¢orptOted In EngL3ntJ and Wales. The regislered office is Biadbury Hotise. View Road. Cle Woods. Roche31er, Kenl. ME3 8UJ AccouDtSng polScles 2.1 Basis of preparation of linancial slatements The financial statements have been prepafftd in &ccofff8nce wrfh Ihp Charitie5 SORP IFRS 1Q2} Accourbtsng and Rgporting by Charities. Sialemenl ol Rgcommended PraElice aptAicable lo challe5 preparing th¢ir ac¢oui)Is in 8c¢ordance iyilh the Financial Reporting Slandard appIable Ilie UK and Republic gf IreLgnd (FRS 1021 leffeclive 1 January 20191. th& Finan¢ial Repor¢ing Standard apprab in lh8 UK and Republ ol Ireland IFRS 1021 ihe Comp105 Act 2006. Magic IUKI Limited meels the definiiicfi of a public benelrt entity under FRS 102. Assets and Iiabilli 1¢$ are initially reeognised 8t hi8loric81 C4)s101 If53Cln valuè unl? Clhe¥S? slal8d in the relevanl accounting prld"cy. 2.2 Goln9 Coiicèrn Al Ibe time o12pproiing the financial slatemenls. the Ertislee5 heve a reasonablè eXPtaljn Ihal the charily has adequate s(yJrCes to continue In ope1atna exislence lor the foreseeable fulyie. Thus the IIu5tees ctsnlinuE to &dopl the 9JlTrg concern basis of accounting in prep8rin4 the fneal statements. 2.3 Income All income is rerogni$¢d once the ¢haiity has entillemenl lo the income, il is pr&ble that the income wtll be received and the amount of inctxne le(Vable can be rnea$ured Feliably. Cash donations are recognised on reGe¥)l. Other ¢Jonatrons are re¢ognisgJ once the chaniy has bgefi tled ol the (lonalion, unless perfomiaiice condit3 Tequil& defeiral of Ihe hmount. Income tax recoverèble IN rel81ion to don2tions received under Grft Aky or deed5 01 covenant Is rQgnIsed al the lime ol the drnation. Le9aGies afe re¢wnised on ieceipt or olheML%e il the chariiy has been n¢lifi¢d of an imFnding disl(ibution, Ihe amoiinl is known, and Teceipt is expected. If the amount 15 not known. Ihp Iggacy 18 Iregled as conltiigehl asset. Incon lay recover8b* In relation to InsIMnI incomè is recognised at Ilie tine Ihe Inves1nI trorne 15 re¢eivoblfj. other in¢tyne is recognised In the per In wh) il is recéivab and lo the extent the gcotS8 hawe been PfOVKled or L)n cotnplel¥Jn ol Ihe servKe P3ge 17
Magic IUKI Limlt8d {A COlT•pany limited by 9arantee} Not¢s lo the fln•Th¢l41 stal•m¢nt$ For Ih? y¢ar gnded 30 April 2024 Accounllng policiva Icontinuedl 14 Expendilure Expendiluie is ieco9ni4ed once there a legal u COnElructlve obligalir)n lo l¥an$lgr ¢uonornK b¢nel lo a third party. il is prob8ble Ihat è Iransfer of e¢onom¢¢ befirS wi11 b¢ required in settlement and the amount of the ¢b&g81ion can be measured relk7bly. Expenditure is d8ssrfi.ed ty atlivlty. The costs of eactt ¥clrvily are made up of the total Df drrecl costs and shared costs, in¢ludin9 SUPPOrt Costs involved in undertakin9 each aclivty. Direct wsls attfibiitable lo a single r¥itY are alocaled diw¢lly lo Ihat xlivrty. sha{ co$15 which ntribUte lo morè than ono actwity and support costs JhJch are not atlribulablfj lo a single tIVitY arp 8PPOrtiDned bebween Ihose aclivili¢y on a basi3 consi$tnl Vvith the use of resources. Central staft costs are allocated on Ihe basis ol tiffle spent, and depreciation ch9os olkntal¢d on Ihe portion of tl)e a$sel'$ usè. Expenditure is %counled for an acciuals basis ha6 been ¢la$$ilied uthjef th¢ head9 that aggrègales all costs related to the caleggry. Whe1¢ cosls cannot be alliibuled lo a PartUlar heing. they have been allocaled lo activities on a basi5 con5iStenl wlth the use of resources. AJI expèndilure Is inclusive cl irre¢ovtrrable VAT. 2.5 Interesl re¢eivable InlEre$l <J) fund5 he on deposil is included when receivable and the alont CAn be n)easured reliably by the Charfty. thls is norm8lly upon lIfallOn ol the inlerÈ81 paid cy payabl8 by the institution with wh(yY the lunds are deposited. 2.6 Tènglble flxed assets 8nd depreciation Tangle fixeA as&els costing £250 or more are c4)italised and reCols8d wh8n fU1U e¢cmmic benefils are prob18 Ihe cost ot vatut of the asset ¢an rnesured ielk?bly. Tangible fixed assets are inthaly IognISed al cost. After recognit)n, under t cosl model, langible fixed 2ssets are measured al cost léss accumulaied d6preoalion and any a[Ulted impaiimènt ID55es, All costs incuiied lo bmg a langible fixed ass&t Inlo rts intended working condiliw included in the measurwnenl of coÈt. Depre¢IKtrtr is charged 50 85 lo alk)Gale th8 cost of tangible fixed 2ssels less their $1Ual vali ovar Iheir estimated u5elul live5, Using the slraighl-llne melhed. Thg estimafed useful live5 are as lo4(ws- Freehold prDpertJi Plant and niachinw M¢lor v¢hleS FixtLires and littings Computer equlprnenl 50 years 5 yEars S years 5 ye8rs 3 years Gains a1 k19 on disposals are detefn)Ined by comp8riny the prr)ceeds willi the carrying arnwnl i)d re¢o91iised in tlitr Slal¥menl of financial activrtlO5. Pgge 18
Magk IUKI Llmllpd
IA comp•ny lknilgd by guarantee)
Notes to Ihe financial Slatemtnts
For the ye$r onded 30 April 2024
Accouming ptsli¢ies Iconlinuedl
2.7 Cash at bank and in hand
Cash at bank and in hand includes cash and sliort-lemi hyhly liquid Inveslis)Ents willi a short nIatritY
of IhrEe months 01 lèss from thè datè él Acqthsitictn or opw)Ing ol the deF)0sil Cf similar aGCOLinL
2.B Financial instrumenls
The Charily only ha$ financrdl asset5 financial llabilit5 of a kli)d Ihal qu8lK¥ as bAslc financial
instrunients. Basic finaDcieJ instrumenls are irirtially recognised al transa-liort value and subseqlienlly
measured at Ihew s¢ltleNtnl value with Ihe exceplion ol bank k)an5 whh 81e subsequent
measured al aff¢JFtised 4XJ81 using the effectNe Interest n*thod.
2.9 Opèratlng ha$4$
Renlalg paid undèr operaiing 188ses are tharged lo Ihts stsiemenl of Financral Aclivth"•s on a straighl
line basis ovei Ihe
lease lern.
2.10 P•n$lon$
The Chaiity op&Btes a delu)ed conlribulk)n penson sch and IhE penS)n thar9e rewegents the
arno1$ payabl• by tho cl?arily to the lund in respgcl of thg yoar.
2.11 Company StaN$
In the event th winding Ltp ot Ihe ttha¥61y eoth wmber ol the charilw undexlakes lo conlr"buLe Such
8$ may be (eouired, n¢1 exceEding £10 8h.
2.12 Fund accounting
General l(tnds are uniestricle
Maglc IUKI Liinited IA cofftpahy limlted by guarantee) Notes to thp financial statements For tlie yeat ended 30 April 2024 Income from donations and légacies Untsslrlcted Rèstrlcted fund* funds 2024 2024 Total funds 2024 Tnt lunLY& 2023 DDnalKJll5 and gifts Gr&nt Income 2.079 3.03? 5.116 b,172 145 2.079 3.Q37 5,116 5,257 Total 2023 &257 Income ffom charltable actlvltles ilnr¢slil¢tod funds 2024 Total fiind 2024 T(Jl411 funcl 2023 Tultion 2.931,792 2,931.792 2,564,837 Tol812023 2, 564.837 2.564.837 InVeStnlI income Unr¢strkted funds 2024 Total fund¥ 2024 T411 2023 Investment irKome 2.2S3 2,293 lo1,?12023 58 58 PagB 20
Maglc IUKI Li[1d IA comparry limited by guarantee) Not*s to tho linancial $iatement3 For the year ¢ndÈd 30 Aprll 2024 Other trading activities Unreslrlcted lunds 2024 Tolal funt15 2024 T(J181 2023 Trading aclivilios income.. olher 5.634 5.634 Total 2023 Anaty5i$ of expendiluig by aGtivilio5 ActNities undèrtakèn directly 2024 support costs 2024 Total ftjnds 2074 Toldl luiThSs 2073 Tuition 2,B33,753 40.809 2,874,562 2,435.242 Yoial 2023 2.390, 165 4&077 ?,435, 242 Page 21
Magic IUKI Llmited {A company limitèd by giiarantee) Not86 to Iho Ilnan¢lal tst•l•men¢¥ For the year •nded 30 April 2024 Ahaly¥is ol expenditure by activities Irontinuedl Analysls of diréct Costs T¢tal flind5 Tuition 2024 2023 Slaff costs Depreclallon Piemises costs Offe C05t5 2 246,397 59.208 2,246,397 59.208 190.385 41,184 7.952.?92 54.543 98.499 29.4 i.o?0 111.579 31,248 43,921 16,278 16,246 17,581 17,638 19D.365 41,184 Charitable expendilure ActItY 515 Travel and fuel Computer and softw4re Bad debt wrte dr Training Sdioo1 stppligs Bonk charg0$ ancl loan inleiesl 113.818 113,818 37,937 44,388 37.937 44,288 24,512 5Q,975 24,969 24,512 50,975 24.9 2.833,7S3 2.833,753 1390, 165 Tot812023 2.39Q 165 ?.390, 165 Analys1$ of 8UPPQrt ¢ptyt8 Total fund 2024 TolAI fwmls 2023 SurKlries Markellng Recrulm&nl fees AccoLnlancy lees ALidJi lees 14,486 14 13.044 4.015 9,250 12.724 5.S72 16.057 1,176 9.588 40.809 45,077 Page 22
Magl¢ IUKI Limiled A comp8ny IlmSt6d by yuoianleol Note$ to the Ilnaiiclal statements Foi lh¢ year ended 30 Aprll 2024 Auditor6. rornunetbtlon Tha auditors, ren7LFnèralion amount& to an aud lee of £9.25D12023- £9. 5881 10. Staff costs 2024 25 Wages and sal Social security cos15 Pension 2.CQg.339 153.490 7, 742,330 737,470 72, 392 83.566 2.246.397 1, 952. 192 The average number of persons empbyèd by thè Charity during the year vias as follows". 2024 2023 Monthly staff 65 The numL)er ol ¢niiMoyoes whose employee btsnefits 1¢X¢ldIng emplDyer pension ¢oslsl ¢eeded £60.000 was.. 2024 No. 2023 Alo In the band £60.001- £7D.OfKJ In the band r80 001- £90 000 In thè band £90.001 - £ll,0D0 The lot813mDunl ol remuneration lincluding eniployer pensions conliibulions an4 employee benefilsl paid lo key IYbanag&nenl rsOnnel, comprtses thg Tr(Lee$ and Ihe Seriior Leadershl) Ttwn. for their s?1G3S lo the chaiily for the year was £172,661 12023". £154.3981. 11. Trustg*s' ramuneration and expen5eg Durin0 the year no TrustEes recew&d any r•muneratK)n or oltter bernels {2023- LNIU. Diirin9 Ihe year ended 30 Aprrf 2024, nts Trustee expenses have been Incurred {2023_ fNIL). The coinparalive balance reLaling lo th& IwrnbuTS8mÈnt of Trustees, expenses has been iesla1ed as the prevKJus yeai s PLknlished ?¢coynts in¢oir¢clly dlsGlosed Ihal £679 ha(1 been rèimbursed to L)rie Tiuslet) in 18specl DI milea9e. Tliis wa3 a dupliGdlion of Ihe n(AE includèd in Ihe slaliitory sccounls lor Ihe year eNJ¢d 30 April 2022. 12. Taxation Th8 charity is exèmpl from tax on Income and g3iiis falliiig viithin 505 of Ilie taxes Act 1988 u section 252 of the Taxalitsrs of Ch¥igeable Gairn$ A¢1 1992 to Ihe eilenl Ihal these are applied Ic ils charilable objEcls. Page 23
Maylc IUKI Limite IA company li1ted by guarantee} Notes lo the fsnan¢lal ¥tatgmonlS For the year ended 30 Aprll 2024 13. Tanglb19 fixed ass•ts Freehold PlJnt and prDp¢rty m•¢h5nvry Motor Flxtures Comput• v•hlGle¥ and fltting5 Equipment Total Cost or valu3tlon At 1 May 2022 Add¢tiohs 937,628 43,145 26.081 26.476 1.050 81,001 13.020 37,481 16,209 1.063.239 98.850 AI 30 April 2024 g80.771 52.557 1,05Q 74.021 53,690 1.162,089 Depreciation Al l May 21r23 Charge for the year 125.910 35.549 4.788 936 1.05Q 17.63D 13.668 27,111 9.055 176,495 $9,20 AI 30 April 2024 161.459 5,724 1,050 31.29B 35.172 235.703 N•1 bogk valL AI JO April 21724 819.312 46,833 42,722 17.S18 826,386 AI 30Apfi12023 81 J.716 21,293 43.371 YQ,364 886, 744 14. DEbtor5 2024 2023 Dutr within year Trade debtors 6.674 4(20 Olher deblors Piepayii)enl$ aiid 4rUed inry)me 10888 36241 2.045 20.101 53 403 23. 166 Pag& 24
agic IUKI Lin)iled IA company limited by guaraiiteel Notes lo the finan¢lal ¥taimnts For the year ended 30 April 2024 15. Credltors: ArnoiiNt3 fallSiig due withln one year 2024 2023 Bank h)8Tr5 Tradp ciedilor3 Other laxalion aiid soc1 security creditors 38.717 19.068 Y3.4LX) 44.534 13 54.215 44.230 19.084 326.293 cruals •rK1 deferr inco 308.013 482 $39 385.028 2024 2023 Othèr ddorred Incomo Delorred in¢omg ¥t l May 2Q23 Rease frc)m previous perk)d5 Resour¢e$ dÈfrried in the year 271.882 255. 797 1255. 791) 271.882 1271.8821 290_162 290.162 771.882 16. Cyedilots: Amounts falling due ofter more thjn L)ne ye 2034 2023 Bank10811S 27D.987 306.036 HSBC bank regi61eied a ftted and fknaling ¢harge over Ihe Chaiity's assets dated 22 Juty 2014. HSBC bank regi$leied a leg81 mortgage over Ihe Iehd Pfemlses ofthe charity daed 14 January 2016. Page 25
M4giG IUKI Llmltgd (A ¢ompany Ilmited by gvaranteel Notes to thè fimanclal stalements For th¢ y¢ar onded 30 Aprll 2024 17, siatemvnt ol fund$ SlMent ol funds - current year Bal•nce al 30 April 20Z4 8alan¢e at 1 May 2023 Transfèrs Inlout Incomo Expeiiditufe Unre5triGtsd flind5 General 801,607 2,941.798 12:873.8421 12.0601 866.803 Rostfl¢tgd lund$ Duke of Edinburgh Chalham Maitlime Comrnunity Twsl st James's Place Other restricted fuNJ5 2,037 2.037 1,000 17201 2,500 460 2.SCX) 460 3,037 5.2 Total otfunds 801.807 2.9H,835 12 874,2) 872,080 The speErfIG PUTP05es forwhich Ihe reslFlCted funds are lo be applied are as lolk)ws: The Duk¢ of Edinbvigh 9ranl fund is used to track gTanl funding receiv8d fr<xM Duke ol Edinburgh lor purcha51rE equiprneiit foi Ihe Dukè ol Edlnburgh offering al the s¢h)ol. The Chatham Maritime Community Tr1 fund tracks grant funding received for the provision oThd Ill5t311alion ol a bubbk lube lorthe 5en$ory room. The Sl. J8mès's Place funds carried forward are lo be usad lor Iha S0'S music studio project. The Iransler or £2,960 oui of urestred futK15 has been mada lo rgflecl the reslrKted income recetwed in prev40Us y8ar5. whlch had 17 SCCDunled lor as restrictéd funds. Pagè 26
Magk IUKI Limlled IA company IlmSted by gu•rantMI Notes to the financial statements For th& y*ar endèd 30 Aprll 2024 17. Sl•lomnt ot fund$ Icontlnu•dl statemont of funds . prior year BalriilGV ¢)1 l May 2022 J1?Cne Expenthliire 30 Wil 2023 Unrestrlctgd funds Genwal 666.317 2.0. 732 (2.435.242) $01,807 18. Summ•ry of funds Summary of funds . curreiil year Balance at 30 Aprll 2024 Balance al 1 May 202J Transfers Inlowl In¢omo ExndItre Generdl lund5 Reslricted funds 801.807 2.941,788 12,873.U21 3.037 17201 I2,0) 2.960 866.803 5,277 801,8a7 2.944,835 12,874.5621 872,080 Summary of funds . prlor yèar BJai?CQ E?1 l Alay 2022 Incon7e Expendit? 30 Apnl 2023 General lunds 6fj6.317 2.570. 732 {2.435,242} 8Ql,807 pa27
Magk IUKI Limited IA company limiled by guarantee) Notès lo thè flnancial statsmentg For the year endèd 30 April 2024 19. Analysis of iiet assets l)etween tunds Analy¥l$ of not a8$gts b#N¥#•n funds- currgnt period Unr•strl¢ttrd fund5 2Q24 R¢6lrl¢t•d tiinds 2Q24 Total fundB 2024 Tangible fixed a55et5 Curienl assets Cied#ors due *rithin ong yegr rett due in mcfe th one year 926.3&5 693.943 1482.S39J 1270.9871 926.386 699.220 1482.539) 1270.9871 5.277 Tolal 866 803 5.2n 872,080 Anatysi6 of not t5 belween funds- prior perftjd Uiiroslriléjd Tolal furrfl ?023 2023 T8ngible fixed assels Curienl assels Creditors due within tsne Crediloi$ duè in morè Ihan one year 886.744 fjofj. 127 (385.028) 1306.038J 886,744 506.121 (385.028) (306,036? Total 801,807 801.807 p28
Magic IUKI Limited IA conipany Ilmited by gvaranteel Notes to the fsnancial 51alemenls Ftsr11)e year en¢Yed 30 April 2024 20, EOrt¢ll1a110n of nel movemont in funds to not cash flow Irom operating 4Elivitlg9 2024 23 Nel income for the p?riod {a$ per Slalement ol Financial ActNlts) 70,273 135.490 Adjustments for: D8precialion char9èS Dmdends, interests aiid renlg Irom inveslmenls <lncre4sellDe¢rease in Lleblors Increase.'IDe¢re•$e) in credilors 59208 12,2931 130.8371 77.862 54.54J 70,510 122.3561 Nèt cash provld?d by operating aGtivitie5 174.413 238. 187 21. Analy61$ of ¢a$h ?nd cash gquivalents 2024 2023 Cash in hand 64S.417 582.96¥ Total cash and cash equivalpnts 645,417 582.961 22. Aiialysis ol changes in nel debt AIIMay 2023 Ch nows AI 30 Aprll 2024 Cash al bank 8nd in hand Dettl wit" 1 year L)ptrt due 8ftw l year 582.%1 119,0681 13D6,0361 62,456 {19,6491 35,049 645.417 138_1171 1270.9671 257.857 77,856 335,713 23. Pension cornmitmpnts The Charil& i)perales a defined contribution pertwn scheme tyn to all permar)ent employees During the year the Charity contiibiited £83.56912023. £76.5601 on behalf ol employees wh¢ opl£ into ltte sch?me. 01 Ihese ¢oiilribulions E12.oe9 (2023.. £10,327j iemamèd oulslanding al Ihe balance sheet dale 3nd is included williin currenl Ilities. P*Je29
Maglc IUKI Llmited IA company Ilmlted by guarantee) Notes to the lin&ncial statèmertts For the year endèd 30 Aprtl 2024 24. Qpwating l¢as¢ commltm•nls At 30 April 2024 Ihe Charily had commilmert$ to maktr lUre nilnimum le•se Pkwn¢ni$ (trr cancellable eperating leases as fOlkn.. 2024 2023 Not later tWn 1 year Latei than 1 y¢8r and no1 laler ihan 5 years 51.729 1J7.872 22, 360 8,696 189.601 31.056 26. Rglated paity IT)SaCtIOnS Durin9 the previou5 year lo 30 April 2023: Cooper Daty Solutlons aiid Support LLP invOj Maglc IUKI Limited for Iraining and cornsullgncy services prDwded lo tho eharrty whi¢h lOt811gd £8,168, incluSNO 01 VAT Iihi$ Is a restatennt of th¢ balanee worted in prior yearfs frnancial slalemenls, which was ncorreclly 313led as £8081. ClaKe Cooper and JennrfeT Daywere partners in the LLP during the perlod in lyhich the services werè provtded. and were also Truslp85 of Magc IUKI LinRed. Claire Ctr)pef resyJned as a Trustee ol Magic IUKI Limited on 13 March 2023. No amounts were outstanding at the prior year's Ea¢ance Sheet date ot 30 Aprl 2023. Theie hav8 bèen no Iwansactlons durlng current year the LLP. Magic IUKI LIMI1 ented InlD lease agieemenls with Dr. Uzma ChoLKlhry Ilcusteel Shahbaz Jehangii Choudhry, paying a totsl of £17.951 dunng the yeet12Q23". £nill. The paym¢nls wer madg on 418nd8rd tÈttns. Al the year end_ no baknces weTe due lo or frorn the rdated party. Page 30