It smells like horse manure and looks like a dirty beach rock but this lump of ‘floating gold’ could pocket one man over £100,000.

The unusual ‘stone’ is believed to be a piece of rare and valuable whale vomit, or ambergris, an in-demand ingredient used in perfumes such as Chanel No.5.

Lancashire resident Ken Wilman discovered the 3kg lump while out walking his boxer dog Madge on Morecambe beach.