1.
General Information
Mongoose Hospitality Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
16114465
. The registered office is Byron's Bear, Thompsons Lane, Cambridge, Cambridgeshire, CB5 8AQ.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Going Concern Disclosure
The financial statements have been prepared on a going concern basis.
The directors have considered the company's current trading performance, cash flow forecasts and financing arrangements in assessing whether it is appropriate to adopt the going concern basis of accounting. Having considered a period of at least 12 months from the date of approval of these financial statements the company continues to operate profitably.
On this basis, and having regard to the company’s available resources, facilities and financial position, the directors consider that the company to have adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis.
2.3.
Significant judgements and estimations
In preparing these financial statements, the directors have made judgements and estimates that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Judgements and estimates are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The significant judgements and key sources of estimation uncertainty that have the most significant effect on the amounts recognised in the financial statements are as follows:
1. Impairment of property and plant and equipment
The company reviews the carrying value of site assets, including restaurant fit-outs, for indicators of impairment. Estimating recoverable amounts involves assumptions about future site performance, forecast cash flows. A deterioration in trading performance or changes in cost structures could result in an impairment charge.
2. Depreciation and amortisation
Depreciation and amortisation are charged over estimated useful economic lives, which are based on management’s expectations of asset use, maintenance cycles and technological obsolescence. These estimates are reviewed annually. Changes in expected usage or refurbishment frequency could materially affect the depreciation charge.
3. Stock valuation
The valuation of inventories (mainly food and drink) requires estimates for net realisable value and potential obsolescence. This is based on current selling prices, wastage levels and expected turnover. Management believes the carrying value appropriately reflects recoverable amounts at the balance sheet date.
2.4.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Turnover represents food and beverage sales and other revenue including rental of accomodation. Food and beverage income is recognised when served, and accomodation income is recognised at the date of use.
2.5.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Leasehold |
|
| Plant & Machinery |
|
Mongoose Hospitality Limited
Notes to the Financial Statements (continued)
For the Period 3 December 2024 to 31 December 2025
2.6.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.
2.7.
Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.8.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.9.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3.
Average Number of Employees
Average number of employees, including directors, during the period was: 27
4.
Tangible Assets
| Land & Property | |||
|---|---|---|---|
| Leasehold | Plant & Machinery | Total | |
| £ | £ | £ | |
| Cost | |||
| As at 3 December 2024 |
|
|
|
| Additions |
|
|
|
| As at 31 December 2025 |
|
|
|
...CONTINUED
Mongoose Hospitality Limited
Notes to the Financial Statements (continued)
For the Period 3 December 2024 to 31 December 2025
| Depreciation | |||
| As at 3 December 2024 |
|
|
|
| Provided during the period |
|
|
|
| As at 31 December 2025 |
|
|
|
| Net Book Value | |||
| As at 31 December 2025 |
|
|
|
| As at 3 December 2024 |
|
|
|
5.
Stocks
| 31 December 2025 | |
|---|---|
| £ | |
| Stock |
|
6.
Debtors
| 31 December 2025 | |
|---|---|
| £ | |
| Due within one year | |
| Trade debtors |
|
| Prepayments and accrued income |
|
|
|
|
7.
Creditors: Amounts Falling Due Within One Year
| 31 December 2025 | |
|---|---|
| £ | |
| Trade creditors |
|
| Other taxes and social security |
|
| VAT |
|
| Other creditors |
|
| Pension payable |
|
| Accruals and deferred income |
|
|
|
|
Mongoose Hospitality Limited
Notes to the Financial Statements (continued)
For the Period 3 December 2024 to 31 December 2025
8.
Deferred Taxation
The provision for deferred tax is made up as follows:
| 31 December 2025 | |
|---|---|
| £ | |
| Accelerated capital allowances |
|
| Tax losses carried forward |
( |
| Other timing differences | (116) |
|
|
|
9.
Provisions for Liabilities
| Deferred Tax | Total | |
|---|---|---|
| £ | £ | |
| Additions |
|
55,387 |
| Balance at 31 December 2025 |
|
55,387 |
10.
Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
| 31 December 2025 | |
|---|---|
| £ | |
| Not later than one year |
|
| Later than one year and not later than five years |
|
| Later than five years |
|
|
|
|
The above commitments relate wholly to the company’s leasehold trading premises.
11.
Exceptional Items
Exceptional items relate to costs incurred in connection with pre-opening and establishment activities prior to the commencement of trade. Due to their nature and incidence, these costs are considered non-recurring and are not representative of the Company’s underlying ongoing trading performance.
12.
Share Capital
|
2025
|
|
|
£
|
|
|
Allotted, called up and fully paid
|
|
|
30 Ordinary Shares of £0.01 each
|
0.30
|
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|
Shares issued during the period:
...CONTINUED
Mongoose Hospitality Limited
Notes to the Financial Statements (continued)
For the Period 3 December 2024 to 31 December 2025
On incorporation on 3 December 2024, the Company issued 10 ordinary shares of £0.01 each, resulting in issued share capital of £0.10.
On 21 December 2024, the Company issued a further 10 ordinary shares of £0.01 each for total consideration of £250,000. Of the total consideration, £0.10 represented nominal share capital and £249,999.90 represented share premium.
On 23 December 2024, the Company issued a further 10 ordinary shares of £0.01 each for total consideration of £550,000. Of the total consideration, £0.10 represented nominal share capital and £549,999.90 represented share premium.