Mycelium Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03366427 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2020

for

Mycelium Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

DP King

Ms D Britten

SECRETARY:

DP King

REGISTERED OFFICE:

Unit 6

Flint Road Industrial Estate

Letchworth

Hertfordshire

SG6 1HJ

REGISTERED NUMBER:

03366427 (England and Wales)

ACCOUNTANTS:

Alan Griffin FCA

TBLC Limited

FIXED ASSETS

Tangible assets

4

17,672

10,568

CURRENT ASSETS

Stocks

10,000

30,000

Debtors

5

27,826

39,417

Cash at bank

29,105

21,132

66,931

90,549

CREDITORS

Amounts falling due within one year

6

73,282

98,340

NET CURRENT LIABILITIES

(6,351

)

(7,791

)

TOTAL ASSETS LESS CURRENT LIABILITIES

11,321

2,777

CREDITORS

Amounts falling due after more than one year

7

10,311

-

NET ASSETS

1,010

2,777

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

1,009

2,776

SHAREHOLDERS' FUNDS

1,010

2,777

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2021 and were signed on its behalf by:

DP King - Director

1.	STATUTORY INFORMATION

Mycelium 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.

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

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and 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 6 (2019 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2019

148,054

Additions

12,995

At 30 April 2020

161,049

DEPRECIATION

At 1 May 2019

137,486

Charge for year

5,891

At 30 April 2020

143,377

NET BOOK VALUE

At 30 April 2020

17,672

At 30 April 2019

10,568

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Trade debtors

26,834

32,425

Other debtors

992

6,992

27,826

39,417

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Hire purchase contracts

2,105

1,787

Trade creditors

29,805

67,247

Taxation and social security

27,079

17,679

Other creditors

14,293

11,627

73,282

98,340

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.20

30.4.19

£

£

Hire purchase contracts

10,311

-