Hollow Horse Limited Company accounts

COMPANY REGISTRATION NUMBER: 14606600

Hollow Horse Limited

Unaudited Financial Statements

31 December 2024

Hollow Horse Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Director's report	1

Statement of income and retained earnings	2

Statement of financial position	3

Notes to the financial statements	5

Hollow Horse Limited

Director's Report

Year ended 31 December 2024

The director presents his report and the unaudited financial statements of the company for the year ended 31 December 2024 .

Principal activities

The principal activity of the company during the year was unlicensed restaurants and cafes

Directors

The directors who served the company during the year were as follows:

Mr M K McCollum
Mrs A McCollum

Events after the end of the reporting period

Particulars of events after the reporting date are detailed in note 11 to the financial statements.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 26 August 2025 and signed on behalf of the board by:

Mr M K McCollum
Director

Registered office:

C/O The Accounting Centre Limited

736, High Road

North Finchley

London

England

N12 9QD

Hollow Horse Limited

Statement of Income and Retained Earnings

Year ended 31 December 2024

		Period from
	Year to	20 Jan 23 to
	31 Dec 24	31 Dec 23
Note	£	£
Turnover	6,584,428	5,141,926

Cost of sales	2,204,007	1,791,811
	------------	------------
Gross profit	4,380,421	3,350,115

Distribution costs	237,099	146,173
Administrative expenses	4,191,571	3,187,961
	------------	------------
Operating (loss)/profit	( 48,249)	15,981

Interest payable and similar expenses		53,136	45,360
		------------	------------
Loss before taxation	5	( 101,385)	( 29,379)

Tax on loss	–	–
	---------	--------
Loss for the financial year and total comprehensive income	( 101,385)	( 29,379)
	---------	--------

Retained losses at the start of the year	( 29,379)	–
	---------	--------
Retained losses at the end of the year	( 130,764)	( 29,379)
	---------	--------

All the activities of the company are from continuing operations.

Hollow Horse Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Intangible assets	6	809,441	853,691
Tangible assets	7	798,229	894,548
		------------	------------
		1,607,670	1,748,239

Current assets

Stocks		52,675	50,822
Debtors	8	14,406	12,537
Cash at bank and in hand		523,421	573,837
		---------	---------
		590,502	637,196

Creditors: amounts falling due within one year	9	1,308,936	716,876
		------------	---------
Net current liabilities		718,434	79,680
		------------	------------
Total assets less current liabilities		889,236	1,668,559

Creditors: amounts falling due after more than one year	10	1,019,900	1,697,838
		------------	------------
Net liabilities		( 130,664)	( 29,279)
		------------	------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 130,764)	( 29,379)
	---------	--------
Shareholders deficit	( 130,664)	( 29,279)
	---------	--------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Hollow Horse Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 26 August 2025 , and are signed on behalf of the board by:

Mr M K McCollum
Director

Company registration number: 14606600

Hollow Horse Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is C/O The Accounting Centre Limited, 736, High Road, North Finchley, London, N12 9QD, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill	-	Over 20 Years
Franchise Fees	-	Over 20 Years
Franchise Rights	-	Over 20 Years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	Over 7 Years
Fixtures and fittings	-	Over 7 Years
Computer Equipment	-	Over 4 Years

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. Amounts not paid are shown as a creditor on the balance sheet. The assets of the scheme are held separately from the company in independently administered funds.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 175 (2023: 219 ).

5. Profit before taxation

Profit before taxation is stated after charging:

		Period from
	Year to	20 Jan 23 to
	31 Dec 24	31 Dec 23
	£	£
Amortisation of intangible assets	44,250	33,809
Depreciation of tangible assets	149,161	108,073
	---------	---------

6. Intangible assets

	Goodwill	Franchise Fees	Franchise Rights	Unlisted Investments	Total
	£	£	£	£	£
Cost
At 1 January 2024 and 31 December 2024	884,994	2	4	2,500	887,500
	---------	----	----	-------	---------
Amortisation
At 1 January 2024	33,803	2	4	–	33,809
Charge for the year	44,250	–	–	–	44,250
	---------	----	----	-------	---------
At 31 December 2024	78,053	2	4	–	78,059
	---------	----	----	-------	---------
Carrying amount
At 31 December 2024	806,941	–	–	2,500	809,441
	---------	----	----	-------	---------
At 31 December 2023	851,191	–	–	2,500	853,691
	---------	----	----	-------	---------

7. Tangible assets

	Plant and machinery	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1 January 2024	984,934	2	17,685	1,002,621
Additions	21,418	27,674	3,750	52,842
	------------	--------	--------	------------
At 31 December 2024	1,006,352	27,676	21,435	1,055,463
	------------	--------	--------	------------
Depreciation
At 1 January 2024	106,570	2	1,501	108,073
Charge for the year	141,747	2,510	4,904	149,161
	------------	--------	--------	------------
At 31 December 2024	248,317	2,512	6,405	257,234
	------------	--------	--------	------------
Carrying amount
At 31 December 2024	758,035	25,164	15,030	798,229
	------------	--------	--------	------------
At 31 December 2023	878,364	–	16,184	894,548
	------------	--------	--------	------------

8. Debtors

	2024	2023
	£	£
Other debtors	14,406	12,537
	--------	--------

9. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	731,637	167,357
Trade creditors	218,047	108,609
Social security and other taxes	282,542	244,561
Other creditors	76,710	196,349
	------------	---------
	1,308,936	716,876
	------------	---------

10. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	–	677,939
Other creditors	1,019,900	1,019,899
	------------	------------
	1,019,900	1,697,838
	------------	------------

11. Events after the end of the reporting period

Subsequent to the year end the company acquired 3 new sites.

12. Director's advances, credits and guarantees

The balance has been shown in note Creditors: amounts falling due after more than one year as "Other creditors".

13. Controlling party

The company has been under the control of its directors throughout the period.