Registration number: 14331845 (England and Wales)

Magic Life Properties Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3
Notes to the Unaudited Financial Statements	4 to 7

Magic Life Properties Limited

Company Information

Directors

M Michael S J Oliver

Registered office

Magic House 5-11 Green Lanes Palmers Green London N13 4TN

Accountants

Hazlewoods LLP Windsor House Bayshill Road Cheltenham GL50 3AT

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of Magic Life Properties Limited for the Period Ended 30 November 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Magic Life Properties Limited for the period ended 30 November 2025, as set out on pages 3 to 7, from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Magic Life Properties Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Magic Life Properties Limited and state those matters that we have agreed to state to the Board of Directors of Magic Life Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Magic Life Properties Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Magic Life Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Magic Life Properties Limited. You consider that Magic Life Properties Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Magic Life Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

Hazlewoods LLP
Windsor House
Bayshill Road
Cheltenham
GL50 3AT

1 September 2026

Magic Life Properties Limited

(Registration number: 14331845)
Balance Sheet as at 30 November 2025

	Note	2025 £	2024 £
Fixed assets
Investment property	4	6,062,134	6,062,134
Current assets
Debtors	5	881,770	80,896
Cash at bank and in hand		26,209	6,279
		907,979	87,175
Creditors: Amounts falling due within one year	6	(4,645,015)	(3,766,323)
Net current liabilities		(3,737,036)	(3,679,148)
Total assets less current liabilities		2,325,098	2,382,986
Creditors: Amounts falling due after more than one year	6	(2,297,087)	(2,357,832)
Net assets		28,011	25,154
Capital and reserves
Called up share capital		2	2
Profit and loss account		28,009	25,152
Shareholders' funds		28,011	25,154

For the financial period ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 September 2026 and signed on its behalf by:
 

S J Oliver
Director

Magic Life Properties Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2024 to 30 November 2025

1

General information

The company is a private company limited by share capital, incorporated in the United Kingdom.

The address of its registered office is:
Magic House
5-11 Green Lanes
Palmers Green
London
N13 4TN

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

Notwithstanding the net liability position shown on the balance sheet, the financial statements have been prepared on the going concern basis. The directors have considered the forecast cash flows and the cash requirements of the business in their assessment of going concern. As a result of this assessment it was concluded that the cash requirements of the business for the 12 months from signing will be met through a combination of operational cash flows and intergroup loans and thus the business is deemed to operate as a going concern.

Judgements and estimation uncertainties

No significant judgements or key estimation uncertainties have been made by management in preparing these financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company. The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Magic Life Properties Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2024 to 30 November 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Magic Life Properties Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2024 to 30 November 2025

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

3

Staff numbers

The average number of persons employed by the group (including directors) during the period, analysed by category was as follows:

	1 October 2024 to 30 November 2025  No.	Year ended 30 September 2024  No.
Administration (including directors)	2	2

Magic Life Properties Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2024 to 30 November 2025

4

Investment properties

	£
At 1 October 2024 and at 30 November 2025	6,062,134

There has been no valuation of investment property by an independent valuer.

5

Debtors

	2025 £	2024 £
Amounts owed by related parties	839,335	72,000
Other debtors	5,271	2
Prepayments	37,164	8,894
	881,770	80,896

6

Creditors

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	7	1,141,886	267,592
Trade creditors		11,360	13,676
Amounts due to related parties		3,481,213	3,475,169
Accruals		2,000	2,000
Corporation tax liability		8,556	7,886
		4,645,015	3,766,323
Due after one year
Loans and borrowings	7	2,297,087	2,357,832

7

Loans and borrowings

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	1,141,886	267,592

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	2,297,087	2,357,832

Bank borrowing are secured and wholly repayable within 5 years.