REGISTERED NUMBER: 10675727 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025

FOR

MAGIC SOFTWARE SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr S Bansal

Mr A H Kamdar

Mr N Mehra

REGISTERED OFFICE:

1 Doughty Street

London

WC1N 2PH

REGISTERED NUMBER:

10675727 (England and Wales)

AUDITORS:

PSJ Alexander & Co

Chartered Accountants & Statutory Auditors

1 Doughty Street

London

WC1N 2PH

CURRENT ASSETS

Debtors

4

642

-

Cash at bank

4,920

12,955

5,562

12,955

CREDITORS

Amounts falling due within one year

5

28,542

26,653

NET CURRENT LIABILITIES

(22,980

)

(13,698

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(22,980

)

(13,698

)

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

(23,080

)

(13,798

)

SHAREHOLDERS' FUNDS

(22,980

)

(13,698

)

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12th December 2025 and were signed on its behalf by:

Mr S Bansal - Director

1.	STATUTORY INFORMATION

Magic Software Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern

The company had net current liabilities and net liabilities of £22,980 (2024: £13,698) as at 31 March 2025. The directors have assessed the going concern risks to the company and have concluded that the company's ultimate parent, Magic software Inc., has indicated its intention to continue to make available such funds as are needed by the company for at least 15 months from the date of approval of these financial statements.

The Company is dependent on Magic Software Inc. for providing additional financial support. As with any company placing reliance on other group entities for financial support, the directors acknowledge that there can be no certainty that this support will continue although, at the date of approval of these financial statements, the directors have no reason to believe that it will not do so. The ability of Magic Software Inc. to continue to provide this support is dependent on its financial position and operational performance.

Based on these indications, the directors believe that it remains appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from the basis of preparation being inappropriate.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - NIL ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

642

-

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed to group undertakings

24,852

22,852

Other creditors

3,690

3,801

28,542

26,653

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Manesh Shah (Senior Statutory Auditor)

for and on behalf of PSJ Alexander & Co

8.	RELATED PARTY DISCLOSURES

Parent Undertaking.

The parent undertaking paid for certain expenses on behalf of the Company.

The balance payable to the parent undertaking as at balance sheet date was £24,852 (2024: £22,852).

In addition, as stated in Note 2 to the financial statements, the company is reliant on the financial support from the parent undertaking to continue as a going concern.

9.	ULTIMATE CONTROLLING PARTY

The immediate parent undertaking is Magic Software Inc, a company incorporated in United States of America.

The ultimate parent undertaking is Solmark Investment LLC, a company incorporated in United States of America.