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Registration number: 11492468

Mushroom Developments Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2024

 

Mushroom Developments Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Mushroom Developments Ltd

(Registration number: 11492468)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

7,000

7,000

Creditors: Amounts falling due within one year

5

(7,718)

(7,598)

Net liabilities

 

(718)

(598)

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

(720)

(600)

Shareholders' deficit

 

(718)

(598)

For the financial year ending 31 July 2024 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 year 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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 24 February 2025 and signed on its behalf by:
 

.........................................
Mr David John Marshallsay
Director

 

Mushroom Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
22 Fernleigh Road
London
N21 3AL
England

These financial statements were authorised for issue by the Board on 24 February 2025.

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 that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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 subsequently measured at amortised cost using the effective interest method.

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.

 

Mushroom Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 August 2023

7,000

7,000

At 31 July 2024

7,000

7,000

Depreciation

Carrying amount

At 31 July 2024

7,000

7,000

At 31 July 2023

7,000

7,000

Included within the net book value of land and buildings above is £7,000 (2023 - £7,000) in respect of freehold land and buildings.
 

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

120

240

Other creditors

7,598

7,358

7,718

7,598

 

Mushroom Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Related party transactions

During the year, the company made the following related party transactions:

Director
At the balance sheet date, the amount due to the Director was £7,598 (2023 - £7,358). These loans were unsecured, interest free and repayable on demand.

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2