Magic Tech Ltd

Magic Tech Ltd, based in London, UK, is a small, active company founded just three years ago. Employing three people, the company holds £505,963 in assets and operates from a virtual address, a detail worth noting as 262 companies share the same address. It’s managed by three directors and has one owner, Bhanot Varun. The business runs an e-commerce site and regularly imports toys, games, and sports equipment—13 months of import activity were recorded, with the latest operation occurring in February 2025. The company operates in the other information technology service activities industries.

The website, Magic AI Mirror, showcases a high-tech home gym solution. It’s a holographic mirror that acts as a personal trainer, using AI to track form, count reps, and provide real-time feedback. The site emphasizes the mirror’s advanced features, including adjustable dumbbells, a folding bench, and celebrity athlete coaching—all designed to deliver a premium fitness experience. The website is clearly focused on a premium, tech-savvy consumer.

Financially, Magic Tech Ltd’s picture is mixed. Cash reserves have fallen by 56%, dropping to £330,000, while bank borrowings have increased by 260%, reaching £4,500. Creditors have also risen sharply, increasing by 180% to £200,000, suggesting a need for more cashflow. However, the company’s net assets have increased by 100%, to £220,000. Trade debtors have surged by 840%, reaching £170,000, which could indicate a delay in payments from customers. Despite a decrease in inventories, the company’s small size (meeting two of three criteria for a small company) allows for flexibility. The lack of an auditor mentioned suggests the company is exempt as a small company.

The decline in cash reserves and increase in debt are concerning, but the growth in trade debtors could be a temporary blip. The company’s focus on a premium product and its innovative technology could help it weather these challenges—but the need to manage cashflow will be critical for its long-term success.

Registered in England/Wales under the registration number 13508558, with a registered address at EC2V 6DN, United Kingdom, London, 9th Floor 107 Cheapside.

WARNING:The numbers have been rounded for simplicity and may be inaccurate.Please, refer to the latest financial report for verification.