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REGISTERED NUMBER: 01359187 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

ST IVES MUSHROOMS LTD

ST IVES MUSHROOMS LTD (REGISTERED NUMBER: 01359187)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ST IVES MUSHROOMS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Mrs K Berwick





SECRETARY: Mrs K Berwick





REGISTERED OFFICE: The Old Mushroom Farm
Halsetown
St Ives
Cornwall
TR26 3LZ





REGISTERED NUMBER: 01359187 (England and Wales)





ACCOUNTANTS: Greenwood Wilson
The Old School
The Stennack
St Ives
Cornwall
TR26 1QU

ST IVES MUSHROOMS LTD (REGISTERED NUMBER: 01359187)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,305 179,618
Investment property 5 735,000 -
740,305 179,618

CURRENT ASSETS
Debtors 6 49,827 37,711
Cash at bank 11,283 101,332
61,110 139,043
CREDITORS
Amounts falling due within one year 7 127,524 145,732
NET CURRENT LIABILITIES (66,414 ) (6,689 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

673,891

172,929

CREDITORS
Amounts falling due after more than one
year

8

(43,056

)

(45,000

)

PROVISIONS FOR LIABILITIES (95,226 ) -
NET ASSETS 535,609 127,929

CAPITAL AND RESERVES
Called up share capital 104 104
Fair value reserve 9 281,700 -
Retained earnings 253,805 127,825
SHAREHOLDERS' FUNDS 535,609 127,929

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ST IVES MUSHROOMS LTD (REGISTERED NUMBER: 01359187)

BALANCE SHEET - continued
31 MARCH 2023


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 director and authorised for issue on 13 November 2023 and were signed by:





Mrs K Berwick - Director


ST IVES MUSHROOMS LTD (REGISTERED NUMBER: 01359187)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

St Ives Mushrooms Ltd 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance and Straight line over 3 years

Government grants
In accordance with section 24 of FRS102 the government grants received have been recognised using the performance model.

Grants received were capital in nature and the amount recognised under the performance model is £169,990.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

ST IVES MUSHROOMS LTD (REGISTERED NUMBER: 01359187)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 103,187 78,532 181,719
Reclassification/transfer (99,204 ) (74,764 ) (173,968 )
At 31 March 2023 3,983 3,768 7,751
DEPRECIATION
At 1 April 2022 - 2,101 2,101
Charge for year - 345 345
At 31 March 2023 - 2,446 2,446
NET BOOK VALUE
At 31 March 2023 3,983 1,322 5,305
At 31 March 2022 103,187 76,431 179,618

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 185,432
Revaluations 375,600
Reclassification/transfer 173,968
At 31 March 2023 735,000
NET BOOK VALUE
At 31 March 2023 735,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2023 735,000

If the investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 359,400 -

The investment property was valued on an open market basis on 31 March 2023 by the directors .

ST IVES MUSHROOMS LTD (REGISTERED NUMBER: 01359187)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 49,318 36,977
Other debtors 509 734
49,827 37,711

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,560 75,000
Trade creditors 54,055 43,083
Taxation and social security - 6,072
Other creditors 65,909 21,577
127,524 145,732

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 43,056 45,000

9. RESERVES
Fair
value
reserve
£   
Revaluation 281,700

At 31 March 2023 281,700