Registration number: SC834445

Fungarium Ltd

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 7

Fungarium Ltd

(Registration number: SC834445)
Statement of Financial Position as at 31 January 2026

	Note	2026 £
Fixed assets
Tangible assets	4	24,096
Current assets
Stocks	5	45,038
Debtors	6	12,547
Cash at bank and in hand		14,650
		72,235
Creditors: Amounts falling due within one year	7	(95,395)
Net current liabilities		(23,160)
Total assets less current liabilities		936
Creditors: Amounts falling due after more than one year	7	(37,478)
Net liabilities		(36,542)
Capital and reserves
Called up share capital		2
Retained earnings		(36,544)
Shareholders' deficit		(36,542)

For the financial period ending 31 January 2026 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 period 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 31 August 2026 and signed on its behalf by:
 

Fungarium Ltd

(Registration number: SC834445)
Statement of Financial Position as at 31 January 2026

......................................... James McLauchlan Director

Fungarium Ltd

Notes to the Unaudited Financial Statements for the Period from 17 January 2025 to 31 January 2026

1	General information

The Company is a private company limited by share capital, incorporated in United Kingdom..

The address of its registered office is:
29 Commercial Street
Dundee
Tayside
DD1 3DG
Scotland

These financial statements were authorised for issue by the Board on 31 August 2026.

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.

The financial statements have been prepared in sterling which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

Fungarium Ltd

Notes to the Unaudited Financial Statements for the Period from 17 January 2025 to 31 January 2026

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures & Fittings	20% Straight Line
Office Equipment	20% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

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.

Borrowings

Fungarium Ltd

Notes to the Unaudited Financial Statements for the Period from 17 January 2025 to 31 January 2026

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3	Staff numbers

The average number of persons employed by the Company (including Directors) during the period, was 4.

Fungarium Ltd

Notes to the Unaudited Financial Statements for the Period from 17 January 2025 to 31 January 2026

4	Tangible assets

	Fixtures and fittings £	Office equipment £	Total £
Cost or valuation
Additions	23,359	3,994	27,353
At 31 January 2026	23,359	3,994	27,353
Depreciation
Charge for the period	2,688	569	3,257
At 31 January 2026	2,688	569	3,257
Carrying amount
At 31 January 2026	20,671	3,425	24,096

5

Stocks

	2026 £
Other inventories	45,038

6

Debtors

Current	2026 £
Trade debtors	1,988
Prepayments	1,578
Other debtors	8,981
	12,547

7

Creditors

Creditors: amounts falling due within one year

Fungarium Ltd

Notes to the Unaudited Financial Statements for the Period from 17 January 2025 to 31 January 2026

	Note	2026 £
Due within one year
Loans and borrowings	8	9,487
Trade creditors		4,137
Taxation and social security		3,063
Accruals and deferred income		1,524
Other creditors		77,184
		95,395

Creditors: amounts falling due after more than one year

	Note	2026 £
Due after one year
Loans and borrowings	8	37,478

8	Loans and borrowings

Non-current loans and borrowings

	2026 £
Bank borrowings	37,478

Current loans and borrowings

	2026 £
Bank borrowings	9,487