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2025-08-31-accounts

Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Registered number: 08045437 Charity number: 1163885

Magic (UK) Limited

(A company limited by guarantee)

Trustees' Report and Financial Statements

For the period ended 31 August 2025

Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited

(A company limited by guarantee)

Contents

Page
Reference and administrative details of the Charity, its Trustees and advisers 1 - 2
Trustees' report 3 - 9
Independent auditor's report on the financial statements 10 - 13
Statement of financial activities 14
Balance sheet 15 - 16
Statement of cash flows 17
Notes to the financial statements 18 - 34

Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited

(A company limited by guarantee)

Reference and Administrative Details of the Charity, its Trustees and Advisers For the period ended 31 August 2025

Trustees

Jennifer Daly Kirstine Boon, Chair of Trustees Diane Martin Peter Chatwell Uzma Choudhry

Company registered number

08045437

Charity registered number

1163885

Trading name

City of Rochester School

Registered office

Bradbury House View Road Cliffe Woods Rochester Kent ME3 8UJ

Independent auditors

UHY Hacker Young Chartered Accountants Thames House Roman Square Sittingbourne Kent ME10 4BJ

Senior leadership team

Headteacher Assistant Heads

Alicja Emmett Kelly Lovell Sophie Hatcher Alix Wilson Katie Travers

Page 1

Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited

(A company limited by guarantee)

Reference and Administrative Details of the Charity, its Trustees and Advisers For the period ended 31 August 2025

Bankers

HSBC Bank Plc 6[th] Floor, 71 Queen Victoria Street City of London EC4V 4AY

Page 2

Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited

(A company limited by guarantee)

Trustees' report For the period ended 31 August 2025

The Trustees of Magic (UK) Limited, the proprietor of City of Rochester School, present their annual report together with the audited financial statements of the Charity for the period ended 31 August 2025.

The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements. The Trustees confirm that the Annual report and financial statements of the charity comply with the current statutory requirements, the charity’s governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

The Charity also trades under the name City of Rochester School.

OBJECTIVES AND ACTIVITIES

Magic (UK) Limited is a charity set up to provide an appropriate high quality education for children, young adults and their families who have an autism spectrum diagnosis.

The organisation is established to:

The trustees confirm that they have complied with the duties in Section 17(5) of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit.

We have referred to the guidance in the Charity Commissions general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.

City of Rochester School’s vision, aims and values help achieve and supplement the charitable objectives:

Vision: Our ambition at City of Rochester School is for pupils to develop self-confidence, independence and resilience through an engaging and holistic curriculum. This will provide the skills, life experiences and qualifications pupils need to participate successfully in wider society.

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Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited

(A company limited by guarantee)

Trustees' report For the period ended 31 August 2025

Aim: Our highly experienced and dedicated team provides an ambitious curriculum that nurtures and challenges our pupils. Our aim is for pupils to be successful at City of Rochester School and for them to be equipped with the skills they need to lead purposeful and productive lives when they leave us. We work collaboratively with families as an integral part of our service, recognising their central role in ensuring their children thrive at school.

Values: City of Rochester School values focus on our motto of “Confidence. Resilience. Success.”

ACHIEVEMENTS AND PERFORMANCE

City of Rochester School

Pupil numbers

Pupil numbers during the year to the end of August 2025 grew in line with expectations to 66 pupils, consisting of 15 girls and 51 boys between the ages of 5 and 18.

Staff numbers

In August 2025 we had 81 employed staff, this is an increase of 9 staff to the same period last year.

Parental Engagement

We continue to work closely with parents and families to ensure they can access fully the support available to them from other specialist services. Our excellent pastoral support ensures that the relationships with parents is positive leading to pupils attending school on a more regular basis. We have a number of regular opportunities to welcome parents onto the school which are always well attended.

Our curriculum and outcomes

The Charity provides an enriched, relevant and bespoke curriculum to pupils who have an EHCP with their primary need being autism. The majority of our pupils come from the Medway Towns and Kent area. The pupils who attend are aged 5-18 years and as at the end of August, 66 pupils are on role.

In having high ambition to raise aspirations for pupils with SEND and offer wider opportunities, the school/charity offers full accredited programmes of study as well as public exams so that pupils can take part in nationally recognised qualifications that employers require. These include Entry Level qualifications to GCSE and BTECs. In addition, our extended life skills programme prepares pupils for life beyond school, teaches them social and community responsibility. It can include supporting pupils in their driving theory and driving lessons. We offer careers advice to all our pupils and from on going discussions we create informed plans that identifies the right career paths and qualifications needed to access the preferred profession for our pupils or further education opportunities.

We have 5 minibuses and one car that allow us to extend our curriculum offer outside the school setting. We work with the local community and external partners to organise learning opportunities that develop life skills and social skills. This includes animal husbandry programmes, learning to ride a horse, work experience such as paint spraying and working in a café to give some examples. In addition our pupils are engaged in community projects and these have included working in a nature reserve renovating pathways, working in a church renovating the grounds and kitchen areas and developing an allotment area for a local stables.

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Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited

(A company limited by guarantee)

Trustees' report For the period ended 31 August 2025

Sadly for many of our pupils, education has been a negative and often traumatic experience. Our wellbeing team is a real strength of the school offering emotional support to our pupils, improving their mental wellbeing and re-engaging families into supporting and valuing the benefits a good education can provide.

City of Rochester School Vocational College

Our college has been open for 2 years.

Our building comprises a workshop where we deliver technical and vocational programmes for all pupils who attend City of Rochester School. In addition, there are classrooms where the Sixth Form pupils are based. KS5 pupils are based at the Vocational College and there is a big focus on preparing them for life post City of Rochester School Vocational College. Our wide range of programmes that all pupils can access include:

In addition, pupils also study core subjects and have a wrap around welfare and therapy service – which includes:

External accreditation

We continue to maintain our Anti Bullying Award – Silver Status and are aiming for a Gold Award. Our Autism Accreditation is due for renewal in 2026 as is our Learning Outside the Classroom (LoTC) Award.

Future Plans

We plan to improve our use of technology to include the use of Artificial Intelligence to support staff workload and pupil’s well-being through piloting coaching programmes.

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Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited

(A company limited by guarantee)

Trustees' report For the period ended 31 August 2025

FINANCIAL REVIEW

The charity has again continued to grow over the period with the number of referrals to City of Rochester School increasing. More staff and pupils have been brought on board and the school buildings have increased with the opening a new vocational center providing 500 square meters of additional space and a 3 room therapies hub on site to increase the number of therapeutic interventions that can be undertaken.

Funding during the period has predominantly been delivered via Medway and Kent County Council. Both of these provide funding to enable the charity to provide education and support to the children, young adults and their families with an aim to help them as they grow into adult members of the public.

The split between pupils funded by Medway and by Kent local authorities has remained roughly constant during the period, maintaining the mitigation of risks involved with funding streams. Both Kent and Medway have now implemented new bidding processes for pupil referrals, however we have still yet to see a change in the way potential pupils are referred to us and referral numbers remain strong.

Key Performance Indicators

Tuition income as a percentage of total income - £4,217,237 of £4,234,699, 99.6% of total income, which is similar to the previous year.

Staff costs are £3,365,506, which is 80.1% of total expenditure, an increase of 2% from last year. As a percentage of total income, staff costs are 79.5% in the period to 31 August 2025, 76.3% in 2024, 76% in 2023, 72.4% in 2022 and 71.4% in 2021.

Donations of £2,655 in 2025, are down from £5,116 last year and are less than 0.1% of total income in 2025.

Reserves Policy

The Board of Trustees recognise the need for the organisation to keep in reserve a level of funds that will enable it to continue supporting its beneficiaries for the foreseeable future.

The Board of Trustees also recognise that the funds of the organisation where possible should be reinvested into the activities that it provides for its beneficiaries.

During the last few financial periods, the trustees, common with other independent schools, have invested substantial sums into improving the school buildings and facilities. Further substantial investment is required to provide and maintain excellent learning facilities for our pupils.

With this in mind the trustees have agreed that the level of reserves should be sufficient to support 3 months pay for employees and are working towards this. The Charity held cash and cash equivalents at the end of the year of £228,086 compared to £645,471 in 2024, £582,961 in 2023, £467,323 in 2022 and £332,455 in 2021.

During the period, the Charity made investments in UK Government Gilts, which, although readily convertible into cash, do not meet the strict definition of cash and cash equivalents reported above. The total of investments plus cash at 31 August 2025 was £416,534, compared to £645,471 in 2024.

The Charity extended the accounting period end from 30 April 2025 to 31 August 2025, resulting in a 16 month accounting period. Due to the billing cycle and the timing of receipts from customers, on 31 August 2025 the balance of trade debtors of £1,183,258 was significantly higher compared to £6,674 (2024).

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Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited

(A company limited by guarantee)

Trustees' report For the period ended 31 August 2025

Going concern

After making appropriate inquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

STRUCTURE, GOVERNANCE AND MANAGEMENT

We have welcomed two new Trustees this year. Our skills set is rich and varied.

The charity, Magic (UK) Limited is the proprietor of City of Rochester School and as such the charity’s trustees are also the trustees for the school and are responsible for the overall management and control of both the charity and school. The board meet 6 times per year. The work of implementing most of their policies is carried out by the Senior Leadership Team (SLT). The Company Secretary/School Business Manager is responsible for the preparation of papers and management accounts.

All trustees give their time freely and no renumeration was paid in the year. The Senior Leadership Team (SLT) and Company Secretary/School Business Manager are employees of the charity.

Governing Document

The charity is controlled by its governing document, a deed of trust and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Charity Constitution

Magic (UK) Limited is a Company Limited by Guarantee as defined by the Companies Act 2006 and is governed by its Articles of Association dated 25 April 2012. It is registered as a charity with the Charity Commission.

Organisational Structure/Management

The organisation and its property is administered and managed in accordance with the constitution by the trustees who determine the general policy of the charity and school.

The Board of Trustees consists of not less than 3 members and not more than 6 members.

The Board of Trustees has delegated the responsibility for the day to day operation of the organisation to the Headteacher of the City of Rochester School, Alicja Emmett. The Headteacher undertakes the key leadership role overseeing educational, pastoral and administrative functions in consultation with the Senior Leadership Team. The Head Teacher, Company Secretary/Business Facilities Manager, Assistant Heads are invited to attend Trustee’s meetings.

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Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited

(A company limited by guarantee)

Trustees' report For the period ended 31 August 2025

Risk Management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. Detailed considerations of risk are delegated to the Head Techer and Senior Leadership Team. Risks are identified, assessed and controls established throughout the year and the Risk Register updated. The risk register is reviewed regularly by trustees at their meetings and any immediate or high risks brought to the trustees attention immediately. Through the risk management process established for the school, the trustees are satisfied that the major risks identified have been adequately mitigated where necessary.

Key management personnel

The trustees consider that they, together with the Head Teacher and SLT comprise the Key Management Personnel. The trustees give their time freely and are responsible for setting the Head Teacher’s pay and pay for any staff falling outside of previously agreed pay ranges. The Trustees have delegated responsibility for pay decisions for all other employees falling within agreed pay ranges. The trustees meet once a year to review the pay and appraisal policy including setting the pay ranges for the upcoming year.

Recruitment and Appointment of New Trustees

Once a new trustee has been recruited in line with the processes laid out in the charity’s governing documents, they are given a welcome pack access to a private trustees only shared cloud drive. On this shared space are a number of the latest documents required to provide a basic induction for all new trustees and for reference for all trustees on an ongoing basis. Shared documents include:

In addition to this access, all new trustees are invited to visit the charity’s main office to meet the senior management team, staff and where appropriate service uses to better understand the charity and its people.

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Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited

(A company limited by guarantee)

Trustees' report For the period ended 31 August 2025

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees, who are also the directors of Magic (UK) Limited for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

DISCLOSURE OF INFORMATION TO AUDITOR

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees' report was approved by the Board of Trustees.

..............................

Kirstine Boon

Chair of trustees

Dated: 11 May 2026

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Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited

(A company limited by guarantee)

Independent Auditor's Report to the Members of Magic (UK) Limited

Opinion

We have audited the financial statements of Magic (UK) Limited (the 'charity') for the period ended 31 August 2025 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

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Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited (A company limited by guarantee)

Independent Auditor's Report to the Members of Magic (UK) Limited (continued)

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditor's report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

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Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited (A company limited by guarantee)

Independent Auditor's Report to the Members of Magic (UK) Limited (continued)

Responsibilities of trustees

As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the charity’s accounts to material misstatement, including obtaining an understanding of how fraud might occur, by:

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Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited

(A company limited by guarantee)

Independent Auditor's Report to the Members of Magic (UK) Limited (continued)

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Tracey Moore BFP ACA (Senior statutory auditor)

for and on behalf of

UHY Hacker Young Chartered Accountants Statutory Auditors Thames House Roman Square Sittingbourne Kent ME10 4BJ

Date: 13 May 2026

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Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited

(A company limited by guarantee)

Statement of financial activities (incorporating income and expenditure account) For the period ended 31 August 2025

Note
Income from:
Donations and legacies
4
Income from charitable activities
5
Investments
6
Other trading activities
7
Total income
Expenditure on:
Charitable activities
Total expenditure
Net income/(expenditure) before net
gains on investments
Net gains on investments
Net income/(expenditure)
Transfers between funds
19
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2025
£
740
4,217,237
13,926
881
4,232,784
4,198,376
4,198,376
34,408
3,438
37,846
(3,964)
33,882
866,803
33,882
900,685		 Restricted
funds
2025
£
1,915
-
-
-
1,915
4,668
4,668
(2,753)
-
(2,753)
3,964
1,211
5,277
1,211
6,488		 Total
funds
2025
£
2,655
4,217,237
13,926
881
4,234,699
4,203,044
4,203,044
31,655
3,438
35,093
-
35,093
872,080
35,093
907,173		 Total
funds
2024
£
5,116
2,931,792
2,293
5,634
2,944,835
2,874,562
2,874,562
70,273
-
70,273
-
70,273
801,807
70,273
872,080

The Statement of Financial Activities includes all gains and losses recognised in the period.

The notes on pages 18 to 34 form part of these financial statements.

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Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited (A company limited by guarantee) Registered number: 08045437

Balance sheet As at 31 August 2025

Note
Fixed assets
Tangible assets
13
Investments
14
Current assets
Debtors
15
Investments
16
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one
year
17
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
18
Total net assets
Charity funds
Restricted funds
19
Unrestricted funds
19
Total funds		 1,244,886
18,961
209,125
1,472,972
(1,375,974)		 31 August
2025
£
894,126
188,448
1,082,574
96,998
1,179,572
(272,399)
907,173
6,488
900,685
907,173		 53,803
-
645,417
699,220
(482,539)		 30 April
2024
£
926,386
-
926,386
216,681
1,143,067
(270,987)
872,080
5,277
866,803
872,080

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

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

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Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited (A company limited by guarantee) Registered number: 08045437

Balance sheet (continued) As at 31 August 2025

The financial statements were approved and authorised for issue by the Trustees on 11 May 2026 and signed on their behalf by:

Kirstine Boon

Chair of trustees

The notes on pages 18 to 34 form part of these financial statements.

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Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited

(A company limited by guarantee)

Statement of cash flows
For the period ended 31 August 2025
Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Dividends, interests and rents from investments
Purchase of tangible fixed assets
Proceeds from sale of investments
Purchase of investments
Proceeds from retrospective VAT reclaim on fixed assets
Net cash used in investing activities
Cash flows from financing activities
Repayments of borrowing
Net cash used in financing activities
Change in cash and cash equivalents in the period
Cash and cash equivalents at the beginning of the period
Cash and cash equivalents at the end of the period		 2025
£
(153,446)
13,926
(81,267)
253,481
(438,491)
9,984
(242,367)
(21,518)
(21,518)
(417,331)
645,417
228,086		 2024
£
174,413
2,293
(98,850)
-
-
-
(96,557)
(15,400)
(15,400)
62,456
582,961
645,417

The notes on pages 18 to 34 form part of these financial statements

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Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited (A company limited by guarantee)

Notes to the financial statements For the period ended 31 August 2025

1. Charity information

Magic (UK) Limited is a private company limited by guarantee, incorporated in England and Wales. The registered office is Bradbury House, View Road, Cliffe Woods, Rochester, Kent, ME3 8UJ.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Magic (UK) Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going Concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Fees receivable consist of charges billed for the period ended 31 August 2025. Fees received for education to be provided in future years are carried forward as deferred income. From 1 January 2025, fees are included net of VAT. Prior to this, fees were VAT exempt.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

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Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited (A company limited by guarantee)

Notes to the financial statements For the period ended 31 August 2025

2. Accounting policies (continued)

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure is accounted for on an accruals basis and has been classified under the heading that aggregates all costs related to the category. Where costs cannot be attributed to a particular heading, they have been allocated to activities on a basis consistent with the use of resources.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 Tangible fixed assets and depreciation

Tangible fixed assets costing £250 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives are as follows:

Freehold property - 50 years
Plant and machinery - 5 years
Motor vehicles - 5 years
Fixtures and fittings - 5 years
Computer equipment - 3 years

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of financial activities.

Page 19

Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited (A company limited by guarantee)

Notes to the financial statements For the period ended 31 August 2025

2. Accounting policies (continued)

2.7 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.

2.8 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.9 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.10 Liabilities

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

2.11 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.12 Operating leases

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term.

2.13 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.

2.14 Company Status

In the event of winding up of the charity each member of the charity undertakes to contribute such sum as may be required, not exceeding £10 each.

Page 20

Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited (A company limited by guarantee)

Notes to the financial statements For the period ended 31 August 2025

2. Accounting policies (continued)

2.15 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purpose and uses of the restricted funds are set out in the notes to the financial statements.

3. Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are not considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is reviewed where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

The estimates and assumptions that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are monitored and reassessed frequently. See note 13 for the carrying amount of the tangible assets, and accounting policy for the useful economic lives for each class of asset at 2.6.

4. Income from donations and legacies

Unrestricted
funds
2025
£
Donations and gifts
740
Total 2024
2,079		 Restricted
funds
2025
£
1,915
3,037		 Total
funds
2025
£
2,655
5,116		 Total
funds
2024
£
5,116

Page 21

Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited

(A company limited by guarantee)

Notes to the financial statements For the period ended 31 August 2025

5. Income from charitable activities

Unrestricted
funds
2025
£
Tuition
4,217,237
Total 2024
2,931,792		 Total
funds
2025
£
4,217,237
2,931,792		 Total
funds
2024
£
2,931,792
6.
Investment income
Unrestricted
funds
2025
£
Interest received
10,003
Dividend income
3,923
13,926
Total 2024
2,293		 Total
funds
2025
£
10,003
3,923
13,926
2,293		 Total
funds
2024
£
2,293
-
2,293

7. Other trading activities

Fundraising income
Total 2024		 Unrestricted
funds
2025
£
881
5,634		 Total
funds
2025
£
881
5,634		 Total
funds
2024
£
5,634

Page 22

Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited

(A company limited by guarantee)

Notes to the financial statements For the period ended 31 August 2025

8. Analysis of expenditure by activities

Tuition
Total 2024		 Activities
undertaken
directly
2025
£
4,144,951
2,833,753		 Support
costs
2025
£
58,093
40,809		 Total
funds
2025
£
4,203,044
2,874,562		 Total
funds
2024
£
2,874,562

Analysis of direct costs

Staff costs
Depreciation
Premises costs
Office costs
Activity costs
Travel and fuel
Computer and software
Training
School supplies
Bank charges and loan interest
Total 2024
Analysis of support costs		 Tuition
2025
£
3,365,506
74,938
195,274
44,232
215,988
56,031
59,420
28,663
71,919
32,980
4,144,951
2,833,753		 Total
funds
2025
£
3,365,506
74,938
195,274
44,232
215,988
56,031
59,420
28,663
71,919
32,980
4,144,951
2,833,753		 Total
funds
2024
£
2,246,397
59,208
190,365
41,184
113,818
37,937
44,388
24,512
50,975
24,969
2,833,753

Page 23

Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited

(A company limited by guarantee)

Notes to the financial statements For the period ended 31 August 2025

8. Analysis of expenditure by activities (continued)

Analysis of support costs (continued)

Sundries
Marketing
Recruitment fees
Accountancy fees
Audit fees
HR and payroll
Other legal and professional		 Total
funds
2025
£
12,563
769
863
5,661
9,700
6,486
22,051
58,093		 Total
funds
2024
£
349
14
13,044
4,015
9,250
7,665
6,472
40,809

9. Auditor's remuneration

The auditor's remuneration amounts to an auditor fee of £9,700 ( 2024 - £9,250 ).

10. Staff costs

Wages and salaries
Social security costs
Pension		 2025
£
2,962,324
265,988
137,194
3,365,506		 2024
£
2,009,339
153,490
83,568
2,246,397

Following a staff restructure during the period, the charity made two termination payments totalling £11,567. These costs have been included within staff costs in the Statement of Financial Activities.

Payments were made in accordance with statutory and contractual requirements. No further termination benefits or obligations are outstanding at the period end.

The average number of persons employed by the Charity during the period was as follows:

2025 2024
No. No.
Monthly staff 77 65

Page 24

Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited (A company limited by guarantee)

Notes to the financial statements For the period ended 31 August 2025

10. Staff costs (continued)

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

16 months 12 months
ended 31 ended 30
August 2025 April 2024
No. No.
In the band £60,001 - £70,000 2 -
In the band £70,001 - £80,000 1 -
In the band £80,001 - £90,000 1 -
In the band £90,001 - £100,000 - 1
In the band £120,001 - £130,000 1 -

The number of staff whose employee benefits (excluding employer pension costs) exceeded £60,000 increased in the period to 31 August 2025, this is owing to the extended 16 month period.

The total amount of remuneration (including employer pension contributions, employer national insurance and employee benefits) paid to key management personnel, which comprises the Trustees and the Senior Leadership Team, for their services to the charity for the 16 month period was £304,002 (2024: £172,661 (12 month period)).

11. Trustees' remuneration and expenses

During the period, no Trustees received any remuneration or other benefits (2024 - £NIL) .

During the period ended 31 August 2025, no Trustee expenses have been incurred (2024 - £NIL) .

12. Taxation

As a registered charity, Magic (UK) Limited is not liable to Corporation Tax on charitable donations received, income and surpluses arising from trading in furtherance of its charitable objectives or investment income and gains, to the extent that they are applied for charitable purposes.

Page 25

Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited

(A company limited by guarantee)

Notes to the financial statements For the period ended 31 August 2025

13. Tangible fixed assets

Cost or valuation
At 1 May 2024
Additions
Disposals
Transfers between classes
Retrospective VAT reclaim
At 31 August 2025
Depreciation
At 1 May 2024
Charge for the period
On disposals
Transfers between classes
At 31 August 2025
Net book value
At 31 August 2025
At 30 April 2024		 Freehold
property
£
980,771
71,197
(1,249)
29,406
(2,590)
1,077,535
161,459
50,428
(95)
4,077
215,869
861,666
819,312		 Plant,
machinery
and motor
vehicles
£
53,607
9,424
(22,048)
(22,900)
(1,338)
16,745
6,774
3,401
(829)
(3,910)
5,436
11,309
46,833		 Fixtures and
fittings
£
74,021
646
(16,803)
(7,658)
(3,539)
46,667
31,298
11,977
(9,130)
(647)
33,498
13,169
42,723		 Computer
equipment
£
53,690
-
(963)
1,152
(2,517)
51,362
36,172
9,132
(2,404)
480
43,380
7,982
17,518		 Total
£
1,162,089
81,267
(41,063)
-
(9,984)
1,192,309
235,703
74,938
(12,458)
-
298,183
894,126
926,386

Page 26

Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited

(A company limited by guarantee)

Notes to the financial statements For the period ended 31 August 2025

14. Fixed asset investments

Valuation
Additions
Disposals
Revaluations
At 31 August 2025		 Listed
investments
£
438,491
(251,157)
1,114
188,448

Material amounts within fixed asset investments are held in government gilts.

15. Debtors

Due within one year
Trade debtors
Other debtors
Prepayments and accrued income
Current asset investments
Unlisted investments (liquid)		 31 August
2025
£
1,183,258
16,746
44,882
1,244,886
31 August
2025
£
18,961		 30 April
2024
£
6,674
10,888
36,241
53,803
30 April
2024
£
-

16. Current asset investments

Page 27

Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited

(A company limited by guarantee)

Notes to the financial statements For the period ended 31 August 2025

17. Creditors: Amounts falling due within one year

Bank loans
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Deferred income
Deferred income at 1 May 2024
Release from previous periods
Resources deferred in the period		 31 August
2025
£
15,787
34,424
305,261
15,516
1,004,986
1,375,974
31 August
2025
£
290,162
(290,162)
985,968
985,968		 30 April
2024
£
38,717
54,215
44,230
19,084
326,293
482,539
30 April
2024
£
271,882
(271,882)
290,162
290,162

Deferred income comprises tuition income invoiced in advance of the period it relates to.

18. Creditors: Amounts falling due after more than one year

31 August 30 April
2025 2024
£ £
Bank loans 272,399 270,987

HSBC bank registered a fixed and floating charge over the charity’s assets dated 22 July 2014.

HSBC bank registered a legal mortgage over the freehold premises of the charity dated 14 January 2016.

Bank loans falling due after more than one year shown above includes amounts due in greater than 5 years totalling £245,679. This balance is repayable by instalments in line with the bank loan agreement.

Page 28

Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited

(A company limited by guarantee)

Notes to the financial statements For the period ended 31 August 2025

19. Statement of funds

Statement of funds - current period

Unrestricted
funds
General
Restricted
funds
Chatham
Maritime
Community
Trust
Coffee Morning
Fund
Young Carers
Playground
Arts Award
Access Fund
Arts Award ROH
Grant
DofE LO
Support Funding
DofE The
Resilience Fund
SJP Creative
Media Suite
Fund
Total of funds		 Balance at 1
May 2024
£
866,803
280
363
-
-
58
39
800
1,237
2,500
5,277
872,080		 Income
£
4,232,784
-
-
1,474
441
-
-
-
-
-
1,915
4,234,699		 Expenditure
£
(4,198,376)
-
-
(3,020)
-
-
-
(737)
(911)
-
(4,668)
(4,203,044)		 Transfers
in/out
£
(3,964)
(280)
-
3,535
709
-
-
-
-
-
3,964
-		 Gains/
(Losses)
£
3,438
-
-
-
-
-
-
-
-
-
-
3,438		 Balance at
31 August
2025
£
900,685
-
363
1,989
1,150
58
39
63
326
2,500
6,488
907,173

Page 29

Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited (A company limited by guarantee)

Notes to the financial statements For the period ended 31 August 2025

19. Statement of funds (continued)

The specific purposes for which the restricted funds are to be applied are as follows:

The Duke of Edinburgh LO Support Funding is used to track funding received from the Duke of Edinburgh for the DofE offering at the school.

The Duke of Edinburgh Resilience Fund is used to support disadvantaged young people to participate in the DofE program.

The Chatham Maritime Community Trust fund tracks grant funding received for the provision and installation of a bubble tube for the sensory room.

The SJP Creative Media Suite funds carried forward are to be used for the school's music studio project.

The Young Carers fund is used to provide activities and support during school holidyas for our pupils who are classed as young carers. A young carer is a person under the age of 18 who provides, or intends to provide, unpaid care and support for another person, such as parent, sibling or other family member, because of that person's illness, disability, mental health condition, substance misuse or other care needs. The care provided can be practical, physical or emotional and may include tasks that would normally be expected of an adult carer. These funds enable pupils to take part in trips and enrichment experiences with staff. The fund also covers some of the staffing costs required to ensure pupils are safely and appropriately supported during these activities.

The Playground fund is to support the development of our outdoor learning and play areas, ensuring they are safe, engaging and suitable for our younger pupils. This includes funds to resurface the playground, install new play equipment and make other necessary improvements to the outdoor space.

Page 30

Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited

(A company limited by guarantee)

Notes to the financial statements For the period ended 31 August 2025

19. Statement of funds (continued)

Statement of funds (continued)
Statement of funds - prior period
Balance at
1 May 2023
£
Unrestricted funds
General
801,807
Restricted funds
Duke of Edinburgh
-
Chatham Maritime Community
Trust
-
St. James's Place
-
Other restricted funds
-
-
Total of funds
801,807		 Income
£
2,941,798
2,037
1,000
-
-
3,037
2,944,835		 Expenditure
£
(2,873,842)
-
(720)
-
-
(720)
(2,874,562)		 Transfers
in/out
£
Balance at
30 April 2024
£
(2,960)
866,803
-
2,037
-
280
2,500
2,500
460
460
2,960
5,277
-
872,080
Unrestricted funds
General
Restricted funds
Duke of Edinburgh
Chatham Maritime Community
Trust
St. James's Place
Other restricted funds
Total of funds
2,037
280
2,500
460
5,277
872,080

20. Summary of funds Summary of funds - current period

General funds
Restricted funds		 Balance at 1
May 2024
£
866,803
5,277
872,080		 Income
£
4,232,784
1,915
4,234,699		 Expenditure
£
(4,198,376)
(4,668)
(4,203,044)		 Transfers
in/out
£
(3,964)
3,964
-		 Gains/
(Losses)
£
3,438
-
3,438		 Balance at
31 August
2025
£
900,685
6,488
907,173

Page 31

Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited

(A company limited by guarantee)

Notes to the financial statements For the period ended 31 August 2025

20. Summary of funds (continued)

Summary of funds - prior period

General funds
Restricted funds		 Balance at
1 May 2023
£
801,807
-
801,807		 Income
£
2,941,798
3,037
2,944,835		 Expenditure
£
(2,873,842)
(720)
(2,874,562)		 Transfers
in/out
£
Balance at
30 April 2024
£
(2,960)
866,803
2,960
5,277
-
872,080		 Transfers
in/out
£
Balance at
30 April 2024
£
(2,960)
866,803
2,960
5,277
-
872,080
872,080

21. Analysis of net assets between funds

Analysis of net assets between funds - current period

Unrestricted
funds
31 August
2025
£
Tangible fixed assets
894,126
Fixed asset investments
188,448
Current assets
1,466,484
Creditors due within one year
(1,375,974)
Creditors due in more than one year
(272,399)
Total
900,685
Analysis of net assets between funds - prior period
Unrestricted
funds
30 April
2024
£
Tangible fixed assets
926,386
Current assets
693,943
Creditors due within one year
(482,539)
Creditors due in more than one year
(270,987)
Total
866,803		 Restricted
funds
31 August
2025
£
-
-
6,488
-
-
6,488
Restricted
funds
30 April
2024
£
-
5,277
-
-
5,277		 Total
funds
31 August
2025
£
894,126
188,448
1,472,972
(1,375,974)
(272,399)
907,173
Total
funds
30 April
2024
£
926,386
699,220
(482,539)
(270,987)
872,080

Page 32

Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited

(A company limited by guarantee)

Notes to the financial statements For the period ended 31 August 2025

22. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the period (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Gains/(losses) on investments
Dividends, interests and rents from investments
Loss on the sale of fixed assets
Increase in debtors
Increase in creditors
Net cash provided by/(used in) operating activities
23.
Analysis of cash and cash equivalents
Cash in hand
Notice deposits (less than 3 months)
Total cash and cash equivalents
24.
Analysis of changes in net debt		 31 August
2025
£
35,093
74,938
(3,438)
(13,926)
28,605
(1,191,083)
916,365
(153,446)
31 August
2025
£
209,125
18,961
228,086		 30 April
2024
£
70,273
59,208
-
(2,293)
-
(30,637)
77,862
174,413
30 April
2024
£
645,417
-
645,417
Cash at bank and in hand
Debt due within 1 year
Debt due after 1 year
Liquid investments		 At 1 May
2024
£
645,417
(38,717)
(270,987)
-
335,713		 Cash flows
£
(436,292)
21,518
-
18,961
(395,813)		 Other non-
cash
changes
At 31
August 2025
£
£
-
209,125
1,412
(15,787)
(1,412)
(272,399)
-
18,961
-
(60,100)

Page 33

Docusign Envelope ID: 8CC7CB60-C575-8AA2-81DF-553EACC60921

Magic (UK) Limited (A company limited by guarantee)

Notes to the financial statements For the period ended 31 August 2025

25. Pension commitments

The Charity operates a defined contribution pension scheme open to all permanent employees. During the year the Charity contributed £137,194 (2024: £83,568) on behalf of employees who have opted into the scheme. Of these contributions £15,516 (2024: £12,089) remained outstanding at the balance sheet date and is included within current liabilities.

26. Operating lease commitments

At 31 August 2025 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years		 31 August
2025
£
62,897
90,431
153,328		 30 April
2024
£
51,729
137,872
189,601

27. Related party transactions

Magic (UK) Limited entered into lease agreements with Dr. Uzma Choudhry (trustee) and Shahbaz Jehangir Choudhry, paying a total of £45,000 during the period (2024: £17,951). The payments were made on standard terms. At the year end, no balances were due to or from the related party.

Page 34