Fungus on a tree-trunk

This fungus was spotted on a tree-trunk (I don't know what species...) in early April in a small wood in southern central England.
It looks like a half Easter egg made of cocoa or tiramisu wrapped in flaking matt tinfoil.

Please send any identifications to Mike at work or Mike at home.
Or perhaps look for a discussion on newsgroup uk.rec.natural-history to which to contribute.
I have since been told it is probably a slime mould; I have also seen another, very different, slime mould species