Caseware UK (AP4) 2023.0.135 2023.0.135 falsetrue2023-04-06falseThe principal activity of the company is the sale of grow your own mushroom kits and the sale of loose, harvested mushrooms.33trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05838419 2023-04-06 2024-04-05 05838419 2022-04-06 2023-04-05 05838419 2024-04-05 05838419 2023-04-05 05838419 c:Director1 2023-04-06 2024-04-05 05838419 d:PlantMachinery 2023-04-06 2024-04-05 05838419 d:PlantMachinery 2024-04-05 05838419 d:PlantMachinery 2023-04-05 05838419 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-06 2024-04-05 05838419 d:FurnitureFittings 2023-04-06 2024-04-05 05838419 d:FurnitureFittings 2024-04-05 05838419 d:FurnitureFittings 2023-04-05 05838419 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-06 2024-04-05 05838419 d:ComputerEquipment 2023-04-06 2024-04-05 05838419 d:ComputerEquipment 2024-04-05 05838419 d:ComputerEquipment 2023-04-05 05838419 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-06 2024-04-05 05838419 d:OwnedOrFreeholdAssets 2023-04-06 2024-04-05 05838419 d:CurrentFinancialInstruments 2024-04-05 05838419 d:CurrentFinancialInstruments 2023-04-05 05838419 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-05 05838419 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-05 05838419 d:ShareCapital 2024-04-05 05838419 d:ShareCapital 2023-04-05 05838419 d:RetainedEarningsAccumulatedLosses 2024-04-05 05838419 d:RetainedEarningsAccumulatedLosses 2023-04-05 05838419 c:FRS102 2023-04-06 2024-04-05 05838419 c:AuditExemptWithAccountantsReport 2023-04-06 2024-04-05 05838419 c:FullAccounts 2023-04-06 2024-04-05 05838419 c:PrivateLimitedCompanyLtd 2023-04-06 2024-04-05 05838419 d:AcceleratedTaxDepreciationDeferredTax 2024-04-05 05838419 d:AcceleratedTaxDepreciationDeferredTax 2023-04-05 05838419 d:RetirementBenefitObligationsDeferredTax 2024-04-05 05838419 d:RetirementBenefitObligationsDeferredTax 2023-04-05 05838419 e:PoundSterling 2023-04-06 2024-04-05 iso4217:GBP xbrli:pure

Registered number: 05838419










Merryhill Mushrooms Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 5 April 2024

 
Merryhill Mushrooms Limited
 
  
Chartered Accountants' Report to the Director on the preparation of the Unaudited Statutory Financial Statements of Merryhill Mushrooms Limited for the Year Ended 5 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Merryhill Mushrooms Limited for the year ended 5 April 2024 which comprise  the Balance Sheet and the related notes 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 https://www.icaew.com /regulation.

This report is made solely to the director of Merryhill Mushrooms Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Merryhill Mushrooms Limited and state those matters that we have agreed to state to the director of Merryhill Mushrooms Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Merryhill Mushrooms Limited and its director for our work or for this report. 

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

We have not been instructed to carry out an audit or review of the financial statements of Merryhill Mushrooms 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 financial statements.

  



Kreston Reeves LLP
Chartered Accountants
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
24 October 2024
Page 1

 
Merryhill Mushrooms Limited
Registered number: 05838419

Balance Sheet
As at 5 April 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,412
4,746

Current assets
  

Stocks
  
13,200
2,190

Debtors: amounts falling due within one year
 5 
18,123
22,350

Cash at bank and in hand
  
74,098
52,686

  
105,421
77,226

Creditors: amounts falling due within one year
 6 
(31,323)
(14,004)

Net current assets
  
 
 
74,098
 
 
63,222

Provisions for liabilities
  

Deferred tax
 7 
(142)
(144)

Net assets
  
 
 
77,368
 
 
67,824


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
77,268
67,724

  
77,368
67,824


Page 2

 
Merryhill Mushrooms Limited
Registered number: 05838419

Balance Sheet (continued)
As at 5 April 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
R A Rucklidge
Director
Date: 23 October 2024

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
Merryhill Mushrooms Limited
 

 
Notes to the Financial Statements
For the Year Ended 5 April 2024

1.


General information

Merryhill Mushrooms Limited is a private company limited by shares, incorporated in England and Wales.
Registered number: 05838419 
The address of the registered office is:
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
The address of the principal place of business is:
Merryhill
Storrington Road
Thakeham
Pulborough
West Sussex
RH20 3ED

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
Merryhill Mushrooms Limited
 

 
Notes to the Financial Statements
For the Year Ended 5 April 2024

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Plant and machinery
-
80
months
Fixtures and fittings
-
36
months
Computer equipment
-
36
months

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 5

 
Merryhill Mushrooms Limited
 

 
Notes to the Financial Statements
For the Year Ended 5 April 2024

2.Accounting policies (continued)

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023: 3)

Page 6

 
Merryhill Mushrooms Limited
 

 
Notes to the Financial Statements
For the Year Ended 5 April 2024

4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 6 April 2023
9,118
14,245
2,975
26,338


Additions
493
-
192
685



At 5 April 2024

9,611
14,245
3,167
27,023



Depreciation


At 6 April 2023
5,303
14,012
2,277
21,592


Charge for the year on owned assets
1,404
124
491
2,019



At 5 April 2024

6,707
14,136
2,768
23,611



Net book value



At 5 April 2024
2,904
109
399
3,412



At 5 April 2023
3,815
233
698
4,746


5.


Debtors

2024
2023
£
£


Trade debtors
10,691
8,627

Other debtors
5,747
7,551

Prepayments and accrued income
1,685
6,172

18,123
22,350


Page 7

 
Merryhill Mushrooms Limited
 

 
Notes to the Financial Statements
For the Year Ended 5 April 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
16,647
3,584

Corporation tax
2,635
1,290

Other taxation and social security
4,392
-

Other creditors
5,509
6,184

Accruals and deferred income
2,140
2,946

31,323
14,004



7.


Deferred taxation




2024


£






At beginning of year
(144)


Charged to profit or loss
2



At end of year
(142)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(206)
(204)

Pension surplus
64
60

(142)
(144)


8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £4,377 (2023: £3,690) contributions totalling £337 (2023: £315) were payable to the fund at the balance sheet date and are included in creditors.


Page 8