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REGISTERED NUMBER: 08672509 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 SEPTEMBER 2024

FOR

SILVER MUSHROOM LIMITED

SILVER MUSHROOM LIMITED (REGISTERED NUMBER: 08672509)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 29 September 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SILVER MUSHROOM LIMITED

COMPANY INFORMATION
for the Year Ended 29 September 2024







DIRECTORS: Mrs P Brookman
Ms R Kane
A M Barnes
Miss E S Brookman





REGISTERED OFFICE: The Lodge To Shaw Hill
177 Preston Road
Whittle-le-woods
Chorley
Lancashire
PR6 7PR





REGISTERED NUMBER: 08672509 (England and Wales)





ACCOUNTANTS: Fairhurst Accountants Ltd
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

SILVER MUSHROOM LIMITED (REGISTERED NUMBER: 08672509)

STATEMENT OF FINANCIAL POSITION
29 September 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 36,373 21,158

CURRENT ASSETS
Stocks 27,327 27,186
Debtors 5 86,204 34,355
Cash at bank 1,126 18,783
114,657 80,324
CREDITORS
Amounts falling due within one year 6 1,988,197 1,515,942
NET CURRENT LIABILITIES (1,873,540 ) (1,435,618 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,837,167

)

(1,414,460

)

CREDITORS
Amounts falling due after more than one year 7 35,219 39,684
NET LIABILITIES (1,872,386 ) (1,454,144 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (1,872,486 ) (1,454,244 )
SHAREHOLDERS' FUNDS (1,872,386 ) (1,454,144 )

SILVER MUSHROOM LIMITED (REGISTERED NUMBER: 08672509)

STATEMENT OF FINANCIAL POSITION - continued
29 September 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 June 2025 and were signed on its behalf by:





Ms R Kane - Director


SILVER MUSHROOM LIMITED (REGISTERED NUMBER: 08672509)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 29 September 2024

1. STATUTORY INFORMATION

Silver Mushroom Limited 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.

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 principal accounting policies adopted in the preparation of the financial statements are set out below.

The company is dependant on the support of the director Mrs P Brookman. At the balance sheet date £1,314,386 (2023: £1,007,317) was due to the director. Indications are that this repayment of this amount will not be demanded until such time that the company's profitability and liquidity has improved. On this basis the directors' feel it is appropriate to continue to prepare the accounts on a going concern basis.

Turnover
Turnover represents the net invoice value of goods sold, excluding value added tax.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the customer, which is usually at the point when the customer receives the goods.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and impairment losses.

Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery etc.33% on cost and 15% on reducing balance


Stocks
Stocks are valued at the lower of cost and expected selling price, after making due allowance for obsolete and low moving items

Financial instruments
The company has elected to apply the provisions of FRS 102 Section 11 'Basic Financial Instruments' to all of its financial instruments.

The following assets and liabilities are classified as financial instruments; bank accounts, trade debtors, trade creditors, directors' loan accounts and accruals.

Debt instruments that are payable or receivable within one year; typically bank accounts, trade debtors, trade creditors, directors' loan accounts and accruals, are measured initially and subsequently at the undiscounted amount of the cash that is expected to be paid or received.


SILVER MUSHROOM LIMITED (REGISTERED NUMBER: 08672509)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 September 2024

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 10 ) .

SILVER MUSHROOM LIMITED (REGISTERED NUMBER: 08672509)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 September 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 30 September 2023 34,560
Additions 23,382
At 29 September 2024 57,942
DEPRECIATION
At 30 September 2023 13,402
Charge for year 8,167
At 29 September 2024 21,569
NET BOOK VALUE
At 29 September 2024 36,373
At 29 September 2023 21,158

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 65,481 14,169
Other debtors 20,723 20,186
86,204 34,355

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,773 20,883
Trade creditors 158,398 159,981
Taxation and social security 178,934 85,054
Other creditors 1,642,092 1,250,024
1,988,197 1,515,942

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 4,071 4,071
Other creditors 31,148 35,613
35,219 39,684

SILVER MUSHROOM LIMITED (REGISTERED NUMBER: 08672509)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 September 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans repayable in more
than five years by instalments 16,148 20,613
16,148 20,613

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 63,949 69,414
Between one and five years - 18,214
63,949 87,628

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loan - 7,134

SILVER MUSHROOM LIMITED (REGISTERED NUMBER: 08672509)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 September 2024

10. RELATED PARTY DISCLOSURES

Mrs P Brookman
Director

At the reporting date £1,314,386 (2023: £1,077,317) was due to Mrs P Brookman.

The amount due to Mrs P Brookman is unsecured, there are no fixed repayment terms and no interest has been charged.

Ms R Kane
Director

At the reporting date £188,101 (2023: £111,605) was due to Ms R Kane.

The amount due to Ms R Kane is unsecured, there are no fixed repayment terms and no interest has been charged.

Mr A Barnes
Director

At the reporting date £47,339 (2023: £27,519) was due to Mr A Barnes.

The amount due to Mr A Barnes is unsecured, there are no fixed repayment terms and no interest has been charged.