MOORE Kingston Smith THE IAAGIC CIRCLE FOUNDATION UMITED TRUSTEES. ATr4NUAL REPORT AND FINANCIAL STATEMENTS 31 MARCH 2021 CthTyany Ilo: •21182 *AA)ZOQVfv" 2311212021 COMPANIES HOUSE
THE flAGIC CIRCLE FOUNDATflN UMrrED 31 Mavch 2021 Chaman's SlatemenL......-.....-.............-.....-...................................................................... Company Detsils... ..... .. ... TNslees'Annual Report........................................................................................................ Ir¥Jendenl Examinerfs Reimyt.............. ................................................... ......... .10 .11 Balan(* Sheet......................................................................................................................12 .13 Detsiled Profil Loss A(xthnl.........................................................................................21
THE MAGIC CIRCLE FOUNDATK)N LIMITED 31 March 2021 Chairnian's Statement This financial year (202(21} ** are very fvsed to have 369 meFthTr" ofThè Magic Cirde as ol The IAag'c Cirde Flation Liniled. This W the tola memteTrhip to 371. of nnJern ofthe chaiityto Tht(the pwress ofthe £aritythrough ttms amual rptxjrt and accounts. White the iffyact of covfD-19 restsicts throw 2020.21 has had a Nolothd effecl the abiNty of the F(wrMJation ts) gwe irK)Th we are atae to re¥ a c£tirall ol a applicatiorts for Govemrronl COVD-19 business wJpp¢yt grants. We (xjnbnue to l(K)k to usa that surplus An anrvJa surptLts of Q063 Reseryes at£475.375 b8 disconlinl in a tidy way. futLtre of our organisatson. have continLd to effecli¥ely wilh the High Speed 2 railway Group ISWGI and rfireclly vthen aFpropriate. HS2-Mace ()rwJados have kept us infom)èd ol plans %el ' athIare of any Ierti. have that affect us. aNI trve brought tt) Hover, staff lurrwer at HS2 an¢J its ntract(x5. Fffesent a chalw to aN local stakeholders. dudiThJ FcoJndatioTr. TKdnlir#J lo ninlain ¥iglJThilh reganl tots of Tr Euston Slatw. We (inthvidualty Tmih SWG) to be ad¥ised trrf our spe(¥1 ad¥i5w. Henry Clarke of Rail Estste and kn further independontconsultsnts. pa CW Dan¥¢ of PCC Property Consultants to the pilling athty to bg ufidertak for the lI1rj of the vent shaft. HS2 rreet the prOfeSonal o)sts Isnption cwsed by lh8 den)fition OfWdfS House and whilst ltiis largely oincided wilh the Covid {in dose association The Magic CAfde and The Cirde TnJstee Ltd.) toestablish a SLttession
THE WIC CIRCLE FOUNDATM)N LIAITED Rert and Flnarbelal Slatèments that the dislLsrbances ar0 us do not tum them Wdy. We Tely on the continuation of our existing The OLrtCO for the ttent yw 2021-2022 15 anticapated to remain thaller¥Jing for the Foundation Centre Direclor to provTr)ts our venue for tiiiing and wtrAic events sèth"NJ nèw 4)pr¢a¢hès to its Whde ourannual swplus iU lo be inyatt•J by omnt e¥ents. l am rended that in 2011 t pmven wr alIty to ajapt to tharw43 cxcumstartss and Trryirove o¥x wocesses thus alhjwing us to generate a gJbslanb'al festrva Ouw and suc(8ss deJ$ grea¥y Th) Ihe owirwJ siijiJt of vdunÈers. have been active aven at the trwht of Ihe COVID.19 (xisi& FlanagiTrJ a very pUtAic&0 bLwldry dthing a pan(knric enonrThJs Chalty9 especially Ihe satisfaction that co1$ from seeir¥J TMC nmbers and errtertainThMts. l exte1 the .5 heartlelt thanks to Cwrfre tAredcr. DaThen Idarfin. for Ills continued re of our bl(ng aTrJ its cryitents aTrJ for the rene¥ efforts of him and his tsam as The Our vtholty obbned subs"diary, the Centre the Wc Arts (Trading} Ltd ICMAT) 1$ respDnsible for handling all the tradtng type a( to thj ith slrfFs. vern hirE •¥J aryj shop sales. wthile The Magic arde Ltd (the prnt thaiity) hath the 12 Step1n Way stsff or contractor employment, and recharyJes a propOrb. of its Costs to the subsidiary trajing conyany. building to CMAT has iwi ly unthi to tr•Je thrirwj XIXk21 $0 w unat4e to n8rat& a $uFplus. ol Co¥¥J.19, hover. essential wairs and utwathr¥J enswe Ihat HQ is ready for use once Ihe •Jisis is over. p8ynnts. preparatic ofquartth finan(ia lerts. subnrrissin ofVATretum$. and preparaiion ofdraft Since Awil 2019 TMCF has been reS[Se theyouw (YMC), Tr Alagic arde's charitable woth. In July 2021. Ihe YMC repcffted having 10 rrEmbers, and has been a¢b"vewth runnir¥J rrL In September 2021. the Board offiaally apwinted Ajan R(w as its Safeguar(r#J Officer, vtho ill dos ith Ke Cw. TAtK) is 450 TMC'S Chdd PrceLaion Offi. Follthbir¥J thè glet n*)sl fittingly sinc8.-as a forffer YMC Thnknr. dub conthbuted lo her success in magic aThJ her
THE IiAGIC CIRCLE FOUNDATIOII 31 March 2021 Folk)wing ts retirem8ntofTMCF Ctiw. PeterKyle (at10StI Gwi8ral P•tsekng Iduesdely to leh of terw in tr rfAe). I tr) lake the Chair a brynted '¢•elakitw' capauty. and in doing so resigned my membership of TMC in (¢Jef lo conwlyvrith the reqferrent that the Chair of thg My hope 0S that. duriTrJ trws irferim {in vthich so ffAny usual Foundath)n acliwbe5 y8 ty) rt(MieS that had irrpa(ed tho ry9anisatton in the 12 fftinths. TAryAd 814e lo ftx4S on urg8nt task of recrniling new indew¥knt Trustee5. in a posilion to invite the nErthrship to eThJoe the 8wxinbnent of thrae highly qtsalrf. iThJeperKlent I cornn1 to you Messrs Martin KaLrfrnan. Neil lIChard and Virrd fdakaparla ¥knm I hope V•ill join (Secrelary). Megan SYdnn ffmc Pregdentl and Garry TIKxro5. conlinuè for a further year to siw nry5etl and Ihe Boaftl during this lJ3n5itional year. Support to the Board. I hope thaL at Trts first rlIng. the Board consider co-opting David as a lem) is donel. 85 w911 as thè ever-Fwdar regLdar "The Wic Cirde Myste5", Cirdes Secrets". -monday loming M•"¢," "History aral at The Wc Cird¥ j the "(kn-Up * Tl Vogi¢ &"rde" tin wh8n wa can fully up aTrJ runrlng agan ith these splerxh'd e¥ts. ID so nxjth of their b.rre to cwr putr4ic evenis and bring in revenue. These acbvities all, and to ny fellow Trttstees. tkn a alx). T*ith lte5. Tr cMIrnd of al is ChaiT of the Bo¥d I IL12•14
THE hlAGIC CIRCLE FOVNDATflN LiiirrEO 31 Mar¢h 2021 Mr Noel Britten (President of Tho MWJC arde) Reggrd 10Th12021 M5 Sarth J Ca Bwry Harris (Trea) Aagic Cwrje) Resi1 27L11r2(r21 Mr Sluart A Sc4)tt (SeL¥etwy) Mr Brian O SitAey (chaIm) MrSAScott 12 slep1 Way. L(Hlon. 2HD 02155182 297582 86 JgnTrin Street. L(mKI SW1Y 6JD . Moore "rj510n Smith LLP Vmyl Fa¢ltyy yth Road Lcffllkn UB3 1HA Bond Dickinson LLP
THE MAGIC CIRCLE FOUNDATION Liivra> 31 hlarch 2021 corrpanf) for Ihe purpose of cryany law, are res&h)nse. through Ihe Board ol Trustees lor 8ccord8nc8 with th¢ Final Rgporliry Starvjard appli13bJe in the UK and Repubfic of Irdand (FRS 102). Strydur•, G0wMa and Ilana9•m•rt The IJ)nJ>any is a regIStw c• (Tr).297582) nIted by is g(rrnn by its estsUishe(J under a Merwandum of Asso¢iabon. Klentrfw the objod and pmrs of th& LiThted {the fo of The Magic c{ Founthon Liffited) at the AGM of 5 October 2015. aThwJunt not exce&Jing £1. Th? Truslges of Ihe oyryary al Ihe date oftt 202fy21 AGkl. ¥: Mr SA Scyjtt, Pétr G TlhThs We thank our very atle accountsnl (Karen Bvyer) bookkeew (Samy Ytyjng) dealing with New TrlIeeS are appcinted by the Board of Trustees in Ihe Short termarKI ected by the members at rfrdeclion. There are currenljy 315 PR[5 ofthe coThwny linduding Ihe Directors) eath ofwhom rable in the Spriry of ea( yw aTrJ TA•K) enboed to w)te at ts AGIA. We reqre that eaL mber of the company gives their consent at each renewal ol th8ir TMC Thmbfrrship to continue also The Trwslees trnet at a nw)ntNy Trustoes. boan1 nwting lo review conwany perIMn and to Ihen the tx)ard curnxjnilI¢ by e.maH Slath is quile suffirxent House (a privale lited c4ryny IncF1ed 26 Cklober 2011," r1Y rNJmter 07824803). The buSinV of CMAT Ltd is reported mnttor&J through the trd of Iru5tees ts'n9. The two Dire(aors of CIMT Ltd we Mr Barry trlaThis. Treasurer of TIKF. and Mr Darrw) M•"n, Centsp Director. (Mr S¢>Jtt Penrose was a tlirector of CMAT unlil tiis rpggn8bon tyl 27& January 2021) TIMS
THE PIAGIC CIRCLE FOUNDArnN Lth1rrED
reffjvs kn the dMrity TMCF Ltd and its CMAT Ltd tog811w.
practice of the of magic. in p3rtiuJlar by:
prrynoting public lecknres: and
rotary dubs fike LeS ai at a reducal rate then oJrqMred with Ihe eveThng sesSior., th8re a
the library is Hde available in tt FrfPse of a fibrat.an free of carye to al of IJKffje condur¥j
a¢ad8mic warth. Sp8tial tharit8tAè 9vents ar8 also (Nganised as fur#l-raisers and we aro very
The rnwn cbiecti¥e of ts 5Ub5hfry. Ck14T Ltd. is tr) eno inoJm thmugh umnrual
A¢hI0m9ftts and Perfomun
Covi&19 related business (le grants tolaling £25.649.
events in both September and October 2020. and Or in Decerer 2020. This is a lortrJ standiThJ
kxjpular wbfic el tithets ss TAwe rwirnl to reshi(d. The hwply kmxxdar Ma9 Cwc4e
2020.
in the pre Cowd-19 ecoTrJTh4c environwent had wht to inuease ovr incorr frcrfn perfomMnces.
Conwany is. as ays. wy gratsfyA ts the hard TAryk of its team and thanks
wy It 4s0 TArfI ¢4N)trK lo heavly w its tWy TKIlIe$ gve fre oftheirtin
lo hdp at public events. Withoul ths gerCS time Com¢nI it V•Duld be Fossble to run these
Ltd have demolished the txjildirvj on the east gde of 12 Stspllens( Way (Wolfscm) Hrxjsel thus
ikndergn)uNI raikny IrA)r ts Then1 %it in k•elkn S1 * the side of Euskn &atton).
Plans are Ing shared wilh u5 through the &ephenson Way Group of charilies ISWGI bul it is dear
briole
31 Ilarch 2021 on 16• Math 2020. Wlile ts hxw tum lir on tho of the Irading IxJThpany [wate income for the Foundalion is rKJt yel dear will have to ajapt and ways of bw)thing in 2021- 22. 11 is our intenti to miew low ierni sus11 of the trthr¥J ctryny in the corriNJ we ho sufficient reserves to sustain th& FrIdat in the shNt to Wl1Urn temi. SIre 2013 811 tradiThJ acb¥ib8s have baen ac£our)ted for in the books of Way and to employ the staff needed to fun the chanty and admiThster all the acliwties of the h¥0 Aswlkn kn the Jwrd£2.trJ3 15 lasl ys c1£1.681 • in(xease crfiust £1.181. Sevwe tsding resbidKmS thJriThJ 202Ck21 reSUft in Ihe IrafiTrJ compary ThMkirrfJ a loss fc tr first tin since it stsrted tra1iThJ in 2013. Ihis contrwted to an overall deuease in inc(rfn8 lof the Foundation aiqè to still make a small as a resutt of a drop in cr4ethead ewendibJp of £ {52.2241 deuease in general inccffi £ (32191 in YPK 51,680 docf8asè in othèr opèrating cosL8 At the year-eryj we had at bank arwj in IWMJ in iw)th mler£397.000. Irkyeperttlent exan¥nab"OA, an wwoa¢h by thè Chlty ComnNssion. is a &nyler and less the company. induding its subgtS8ry. at tr b"n. The two conyanies. TMCF CM4T. are reviewed separdy. Reserv•s Polky and Revlv•J the risks to Tl¥th it is e4wJ. The Trustees c(Thider aryl the finarKial perfn of Ihè charitatAe c4xrVY in terms of o[renarts upkeep oflhe 1hroh the Centre DireLor and SUPF*Nt stsff.
THE MAGIC CIRCLE FOVNDATK)11 UllJtfED 31 IAarch 2021 The prosFcts lor fvlure peric4Js are dered al eath Trustees. Board Meeling to ensure that tr Plans lor FuknE Perioth on Covid-19. the IMlnesS. refurbishment of The Magc Ctrclo IlIdIng. Tolhis end we intend to continue. with the help and support ways of M)rsing inc4)n from ihe corp)r hi of tr trAdthng. As tr Cowk19 uisissub5id85 and ways of vrt)rking develcp will be better ae to identify and inv18nl sustainabl• incom Publlc B•Mfit Going Concern global parthnlc ill reoAre the Centre thr•(y aThJ L#)arO to Ixxth.nuY u¥)nitor arKI review Ihe Fundraising of additional fvndraising that eIld undertaken. ar trtt)w this rThghl be done and is aware of the Risk Management The establrshment of systeffs and controls to ffib.gate the risks ideTrtrfie(I", aThY station prerrmses lWdIatelY next to our Id1 atthe eastem stde. The Magic Q"rde Council and The Magic Cirde FouThlalI( Linlted iojth wilti tr HS2 leam an extemal (l5U11anI on aj hoc basis to aldress Jr ne&J to be nin)sed ow ne•J to 0Mlin in business. and also to ansuro that vffj do rnt miss ¢wlUbe5. unltkely kj see the luN it01C0¥1thl9on tharilatjle and Irajing aclivities. Ho%knier, ¥ith the existing and antiopales en*rging frcyn the uiss in go¢)J shape.
THE MAGIC CIRCLE FOUNDATION UMITED Report and Financial Statements 31 Mah 2021 purkY)ss of company lawl are rgsponsitrAg fry preparing ts Trustees. AJMual R8p)rt and the finanaal a twe and fair vivwoflhe state of8ffar5 chaiilth (¥)panY and oflhe irwmng 9)UrCeS and application of resrCeS. iThSudir4J in(y)ff and eynditure. of the ctsitable lor Ihat PWICAI. make judgemenls and accounting eslimates that afe reasonable and pwdent.. preparn thè fintial statèm8nts on the Xn9 cwKsm basi$ unless il is inappropriale of the ¢haritstJe eomparty and hence reascrfthle steps l( the prevenbcffj dete¢b. of In 80 fara5 the trustee5 awe 81 there is rK) rdevwrt irrfrrntion the tharilaNoconws indepermlent ex8rrAners we of any relwdnt inf(mtion ar¥J to estaiAish tho irnlgpend•* eXarS aio &vare of thal Small Company Exemption rdaing to small CaYryJOriW.
THE IAAGIC CIRCLE FOUNDATION uMifED R•port arnl Fmwrtial StatenMts 31 PAar¢h 2021 to the Trust of Th• Magi¢ Circle Foundation Limited yw end8d 31 March 2021. he 2006kfl. as carried out under section 145 of the Charities Act 2011 {Ihe 2011 Ad'l. lfi iarrwng out my 6¥amviatJn I havts The fin#rLial staternpnts have been prepared in e1)rdance wthh the arwJrtiThJ polites Set in notes to Ihe the Financial fc¥ Smr Entilie5 on 16 Juty%)14. 3. the th) mt comply with Ihe xccwrting reqeThnIS cl sedw of the 2C*)6 Ad other tron the acK¢xJnts tsve not t parEd in acc£¥da wilh th8 rndksd5 and prilF¢S of the Slatewent of IrEland IFRS 102}. Jukl be dr•n in ts rekh>t in wthrtr) wot4e a wkwthJer5tan(fmg dthe lo be rexh8d. The Old Vinyl Factory. i Road. Loth UB3 IHA LI 4 10
THE AIAGIC CIRCLE FOUNDATK)M LpTEl 31 Ilarch 2021 (incorporating income and expenditure account) Not• Fw Funds 2021 2020 47.711 t38.220 Othèrtraithng adi¥ib G0VemnnI grants 1219 26.941 78 12.617 11*.219 26.941 78 12,617 Charitabfe lI?lS 15.836 146.419 146.419 201.862 ExpendIre on: Raisiry funds (1XIHK)) {13.056) (130.Xn) (13.056) 182.805 17J75 (143.) (143.W) 200.180 Funds Brn4ht F(YvrJrd 471292 472.512 470.830 474155 4T4375 471512 There are no other recognised gains losses I)thWth those shrr•ffl above. Trading Ltd { cT). a vtholly subydiary of The Magic Qrde FourKl¥tion Limited I'TMCF) 11
THE t4AGIC CIRCLE FOUNDATION UIAffED Report Financial Statements 31 March 2021 as at 31 IAarch 2021 Tangitle fixed as 10.055 16.471 291,131 201.612 Cash at bank •KI haTrJ 174.794 520.389 492.744 within one y (lo.2) (36.702) Net CurTrnt Assets 509.487 456.042 Cvedllorn. am¢Mwts falling (44,167) 474375 472.512 Repfe$ented by: Resknrted 474.155 471.2 474375 471512 Corywnies A(t 2006 relatiNJ to srnam conyThes. No have wiiray Ihe MpanY to obtain an audit of its actounts for the ye¥ in Iwlion in Krordm •th sei#h)n 476 of the Companies Act to the small comles, r8gmg. Thes8 finanaal statorrnts were approThJ by it* Board on aml signed Iheirbehalt ty. 181IL 2021 12
THE MAGIC CIRCLE FOUNDATK>N UIMt8> 31 March 2021 Notes to the financial stateme Prlncipal kcounttsvJ Poli¢ weparation ofthe finarnial ststwrnnts ar8 as follthbs: al Basis rf accounting Charib"es." Statement of ReComnded Practice applKat4e to tharfb.os weparing their accounts in (FRS 1021- (Charilies SORP (FRS1021). thè Finar#>al ReFW)rtiThJ slanda apMratAe in the UK and Republic ol IrelarKI IFRS 102) and the Cryryanies Pd 2006. ond liabilities are initially recc4JThsed at tr¥slcrfical ¢>)st or trans8¢Aion unless Othemse stated bl Going Conrm the Twsfs Ality to do . c) Reslri¢t•dfimds Restrided funds are to be led ftsp8titsY wrposgs as W dr by the domr. EXFHlibjre that d) Unrestricted fuj$ •) Voluntary irMm• VolLEntsry in(y)ftx is Igcaved by way of ants. dcfflalion5, gratrjities and gtfts and is induded in frjl uncondilionally enb.led lo the gra Q Hiring and public events Ity Hiring and put4ic events incorre is reccgwsl Tln thè ¢hty is enlslled to the inc4Jme and Ihe g) Bar and relail inco probable and its amunt can te nSured reSaily. InveS1Ent income bs Ind thtn 1VatI8. J) Cash •nd ¢¥h equiwalenls Cash and cash equivalents IludeS cash and short term hWly qui0 in¥esthnts v4ith short temi 13
THE MAGIC CIRCLE FOUNDATW)N LllltfED Reptyt arnl Fin•ncial Statements k) Fixed assds AJI fixed asseis held at less dewec1a1K. nual rates: 25% slrt bne 2S% 25% straight kne 33% str line y¢ng Magicaan5 equipnt l) Exwditure VAT that canTh)t be reomred. Costs ofgenerating funds th)se costs IrIed in attr#ing ¥(ntary incon, th088 Chaiitsble athv1tiesindudeexpendIeass¢#8 wilh nwgFcftMrX and shDwsand indude toth the <recl lats and sUp[rt o)sL5 rdaling to these adivAies. arè prinorily asrriated with o)nstitLJtior*l and SlabJW requiremls. m) Liabllitt•S a past event thal wll prObY in the trartsfer of funds lo a third party and Ihe awvJunt du$ to o¢her fadors. indling expectations of frjture events that are lieved lo be reasonable under the 14
THE MAGIC CIRCLE FOVNDATK)N LMrrB) Report and Flnancial Stal•ments 31 March 2021 2 Exwdknre Total Cos1• alJrKal•d kKlependwrt 4.100 17.375 Swrt Costs for aLthtth" 45.1%1 41741 4.712 2.428 7.1tlO 14.tr29 4234 1181 6.415 245 144 144 T¢>lal •xp•nthtur• 81219 41.856 7,424 143.556 2C#).180 Support Costs are aUcKated to a(ty c£6t calem as above a¢xyydir¥J to th8 proptxlion of actsviti'e5 was £8121912020: £113.220). 2020 Indepen 4.100 4,100 17.375 17J75 Support lor Slaft siits & lax 25.728 73. 8.815 5,814 14.629 3.515 110 Bank char98s 8 278 163 1.593 21x1.180 15
THE MAGIC CIRCLE FOUNDATION LlhlffED Report and Financial Ststèments 31 March 2021 2021 2020 Staff costs.. 11.014 15.607 54.151 Wages arrfl saor 2.378 Pens)n 79.362 ATage monthty nurnbv ¢1 •mthees. lun¢lkm: No amployee rewved in excess of £60.[ p.a.12020: none}. ) dIths reciYed any renwneratiffi the jr {2020. £NI). Expe reirnbursed to thre(1$ aggre98ted to £nil12020- £nil). The nrnbers of the t)ard are consJered to t key ManannI aThJ do receive 8ny leneratiOn (20x1: QIll Tangible Fixed Ass•ts rfflin95 aiid Tolal A5 at 1 April 2020 Athjthr 255.898 As •131 Alw¢h 2021 255,898 As * 1 41prn 2020 Charge for the 216290 3.639 16.547 2.TT6 239.427 6,415 As at 31 IAarch 2V21 219. 19.3rJ 245.842 As at 31 March 2.TT6 10,055 As at l 2020 10,918 16.471 16
THE AIAGIC CIRCLE FOUNDATtON uMrrED Report and Financial Statements 31 March 2021 S Debtors 2020 2fj6.3 20.004 4.764 345.595 291.131 6 Creditofs, amounts falling due withln one year 20 3,617 1.452 4.0)0 32.702 Olhw creditors 10.9)2 36,702 7 Credltors. amounts falllng due after ono year 2020 44.167 44.167 17
THE MAGIC CIRCLE FOUNDATIOM LIMrrED Report Financial SL7ternenls 31 March 2021 Movement in Fund5 As at 1 Awll T•1 InwTr• T¢)tsl Asat31 rth 2021 Y(wng Ma9¥an$ Mu%eum 1.137 General 471.Z92 146,419 1143.5561 474.155 472,512 146,419 1143,5561 475.375 As at 1 Wil Total •n¢¢ 2019 Total Asat31 expernlitwe Mar¢h 2020 Restrlcted lunds: 1.137 1.137 1.220 Unrestrtcted funds: Generdl 469.610 201. (2rJ).1PA)) 471292 470.8x1 201.862 ,1801 472.512 18
THE tIAGIC CIRCLE FOUNDATKJN LIMrr 31 h1arch 2021 9 Analysls of Net Assets between Funds
1 ytsr Young MawlaS Equiprnent Auseum 1.137 1.137 10.055 {44.16n 474.155 10.055 5C8.487 {44.1671 475.375 TangiblE N¢t¢ury•nt Total 2020 1 yeaT R•strl¢t•O fwth: Museum 1.137 1.137 16.471 454.821 471.292 16.471 4SS.041 4n,512 Generdl Fund: Funds held avalatAe for (wd1n purrKw ofthg cUary. 10 Llmlted by Guarantee should the company be MThind up. At presenc thero are 315 nffts¥s. 11 Related Parties thJirwJ th? year the (¥)nwry dwrged Thg Cirde £25.(XIO (W20." f25.000) tow the w of 12 Stephenson Way. N. Britten. S. Penrose B. Sibley. vtho arè drrertors ofThe Magic Cirde FndatM Liffiled. are aso Irn of the crf Tr Magic C4Tde. The Magic Cirde gfanted The Magic Q'rde Foundalton Ltd IforThthy the Centre for the Magic L1mJ) an lease (rf ts wose5 at 12 Steph Way 1998 at a rent of 20% Indthled in other at the Jwr erMI is £296 12020: £297) due from Nlagic Cirde. Indjed in Of ue(likns at the is £94512tr20:£3.048) due k¥ The Magic Qrde. 19
THE MAGIC CIRCLE FOUNDATK)N LIIIITED Report and Financial Statsments 31 Mar¢h 2021 "12 Subsldlary Undertaklng The CLPanY has tnLx)rp)rated a subs1&r. C*Thtrel(Ytr MwAJts Trading Linwled I"CMAri. Thè (x)mpany ovms 1W% of orrSnary share caprt4 of CMAT. compring one share yth par value of £1. Since 1 April 2013 trading a(aivilies and wt4ic ets have been managed by CMAT. Profits generatsd by CMAT afe paid to the Coryy by way of a tharrtaNe dts". The subsidsary generaled a Mt loss of £83,12912020' net wofit £42.499) in thè year. 20