Silver Mushroom Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 08672509 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2015

FOR

SILVER MUSHROOM LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mrs P Brookman

Ms R Kane

SECRETARY:

Mrs P 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

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

CURRENT ASSETS

Stocks

13,223

7,764

Debtors

17,715

12,386

Cash at bank

952

302

31,890

20,452

CREDITORS

Amounts falling due within one year

79,368

22,762

NET CURRENT LIABILITIES

(47,478

)

(2,310

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(47,478

)

(2,310

)

CAPITAL AND RESERVES

Called up share capital

2

100

Profit and loss account

(47,578

)

(2,410

)

SHAREHOLDERS' FUNDS

(47,478

)

(2,310

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 30 June 2016 and were signed on its behalf by:

Mrs P Brookman - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The company is dependant on the support of the director Mrs P Brookman. At the balance sheet date £55,583

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.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents the net invoice value of goods sold.

Stocks

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

moving items.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

100

Ordinary

1

100

3.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 30 September 2015 and the

period ended 30 September 2014:

2015

2014

£

Ms R Kane

Balance outstanding at start of year

9,909

-

Amounts advanced

17,165

9,909

Amounts repaid

(12,902

)

-

Balance outstanding at end of year

14,172

9,909

The amount outstanding is unsecured, there are no fixed repayment terms and interest has been charged at the

official rate.