MAGIC BUS GLOBAL
Latest income
£973k
Latest spending
£715k
Registered
2016
Accounts read
FY2024
Financial health, per its FY2024 accounts
The accounts state that total funds increased to £941,530, with free reserves rising to £426,821. The charity reports no material uncertainties regarding its ability to continue as a going concern, supported by sufficient budgeted income and reserves for the next 12 months. The trustees are currently reviewing their reserves policy to account for income unpredictability and future strategic expansion plans.
What the accounts disclose
Highest-paid employee band: £210,000 - £220,000 — above the 90th percentile for charities its size (median £60k)
“One employee, a trustee of the charity who represents the charity's key management personnel, had emoluments (excluding employer pension costs) above £60,000 in the year in the range £210,000 to £220,000” — page 15
Per its FY2024 accounts as filed with the Charity Commission.
Employees paid over £60,000: 1
“One employee, a trustee of the charity who represents the charity's key management personnel, had emoluments (excluding employer pension costs) above £60,000 in the year in the range £210,000 to £220,000” — page 15
Per its FY2024 accounts as filed with the Charity Commission.
Payments to trustees: Matthew Spacie received £215,192 in remuneration (salary and bonus) and £5,742 in reimbursed expenses.
“Under Matthew’s remuneration package and employment contract, during 2023/24 Matthew was paid in total £215,192, comprised of salary of 180,542, plus a £34,650 performance bonus payable in relation to 2022/23” — page 6
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: Matthew Spacie, a trustee, received remuneration of £215,192 (salary £180,542 plus performance bonus £34,650).
“Under Matthew’s remuneration package and employment contract, during 2023/24 Matthew was paid in total £215,192, comprised of salary of 180,542, plus a £34,650 performance bonus payable in relation to 2022/23” — page 6
“During the year under review the charity's key management personnel had travel, subsistence and other costs incurred in the fulfilment of their duties reimbursed or paid on their behalf amounting to £5,742” — page 15
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: Matthew Spacie received reimbursement of travel, subsistence and other costs amounting to £5,742.
“Under Matthew’s remuneration package and employment contract, during 2023/24 Matthew was paid in total £215,192, comprised of salary of 180,542, plus a £34,650 performance bonus payable in relation to 2022/23” — page 6
“During the year under review the charity's key management personnel had travel, subsistence and other costs incurred in the fulfilment of their duties reimbursed or paid on their behalf amounting to £5,742” — page 15
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: Consultant Aarti Madhusudan was engaged for advice and support on governance procedures.
“Under Matthew’s remuneration package and employment contract, during 2023/24 Matthew was paid in total £215,192, comprised of salary of 180,542, plus a £34,650 performance bonus payable in relation to 2022/23” — page 6
“During the year under review the charity's key management personnel had travel, subsistence and other costs incurred in the fulfilment of their duties reimbursed or paid on their behalf amounting to £5,742” — page 15
Per its FY2024 accounts as filed with the Charity Commission.
Year-over-year changes
- Top pay band moved from £240,001 - £250,000 (FY2023) to £210,000 - £220,000 (FY2024).
Funders the charity credits
- Pearl Diver Capital
Structured financials (annual return, FY ending 31/03/2025)
Total income
£973k
Total spending
£715k
Reserves (reported)
£684k
Employees
1
Trustees
- MATTHEW IAN SPACIEchair
- AMIT BHANDARI
- DEVAL SANGHAVI
- JAYANT RASTOGI
- Lindsey William Ernest Cooper
- SHANEEN PARIKH
- Simon Francis Cloke
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/03/2025 | £973k | £715k |
| 31/03/2024 | £694k | £468k |
| 31/03/2023 | £843k | £691k |
| 31/03/2022 | £206k | £162k |
| 31/03/2021 | £20k | £15k |
Common questions
Is MAGIC BUS GLOBAL financially healthy?
The accounts state that total funds increased to £941,530, with free reserves rising to £426,821. The charity reports no material uncertainties regarding its ability to continue as a going concern, supported by sufficient budgeted income and reserves for the next 12 months. The trustees are currently reviewing their reserves policy to account for income unpredictability and future strategic expansion plans. Its FY2024 accounts were independently examined.
What does the highest-paid employee of MAGIC BUS GLOBAL earn?
Per its FY2024 accounts, the highest-paid employee was in the £210,000 - £220,000 band, and 1 employees earned over £60,000.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| BERNARD LEWIS FAMILY CHARITABLE TRUST | 1 | £203k |
| THE SANDHU CHARITABLE FOUNDATION | 1 | £70k |
| THE GEORG AND EMILY VON OPEL FOUNDATION | 1 | £30k |
| MAGIC MOMENTS | 1 | £8k |
| THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HOLY TRINITY, LEICESTER | 1 | £875 |