Phylum: Basidiomycota Family: Hygrophoraceae
Hygrocybe substrangulata (P.D. Orton) P.D. Orton & Watling
Waisted waxcap
Similar to Hygrocybe miniata in stature and looks, and examination of the spores is required to be certain. It has a liking for slightly wetter areas than most waxcaps, favouring boggy ground with mosses, and sites which are periodically inundated.
References:
Boertmann, D. (2010 revised second edition) The Genus Hygrocybe
Hedger, J. & George, D. (2018) Lundy Fungi: a photographic guide