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Registered number: 14628974
HOLLYWOOD BORROWER LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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HOLLYWOOD BORROWER LIMITED
COMPANY INFORMATION
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Barnes Roffe Audit Limited
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Chartered Accountants & Statutory Auditor
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HOLLYWOOD BORROWER LIMITED
CONTENTS
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Independent auditors' report
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Consolidated statement of profit or loss and other comprehensive income
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Consolidated statement of financial position
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Company statement of financial position
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Consolidated statement of changes in equity
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Company statement of changes in equity
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Consolidated statement of cash flows
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Company statement of cash flows
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Notes to the consolidated financial statements
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Company detailed profit and loss account and summaries
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HOLLYWOOD BORROWER LIMITED
GROUP STRATEGIC REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2025
Hollywood Borrower Limited was incorporated on 31 January 2023. The principal activity of the Group is the development, ownership and operation of solar photovoltaic (PV) installations in the United Kingdom and the generation and sale of electricity from these assets.
During the year ended 31 December 2025, the Company continued to progress the development of its portfolio of solar PV projects in the United Kingdom.
The Company’s activities primarily relate to the development and construction of solar generation assets and the sale of electricity generated from these assets. Revenue is generated primarily from the sale of electricity through power purchase agreements and participation in the wholesale electricity market. Additional revenue may arise from renewable energy support mechanisms and environmental certificates, where applicable
The Company is funded through a combination of shareholder funding and external debt financing, which is used to support the development and construction of its solar projects.
The directors continued to focus on advancing the Company’s development pipeline and supporting the construction and delivery of solar projects in line with the Company’s long-term strategy.
The directors consider the following to be key performance indicators for the year:
Net assets £10,996,726 (2024 - £13,502,193)
Gross profit £3,883,161 (2024 - £397,081)
Loss before taxation £3,393,004 (2024 - £2,409,299 loss)
Assets under construction £58,526,996 (2024 - £46,875,129)
During the year, the Company continued to invest in the development and construction of solar assets as part of its strategy to expand its renewable generation portfolio.
Principal risks and uncertainties
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The Company is exposed to a number of risks and uncertainties which may affect its performance and financial position.
Market risk
The Company is exposed to fluctuations in wholesale electricity prices which may impact revenues generated from electricity sales.
Operational risk
Operational risks include potential delays in project development, equipment failure and maintenance requirements which may affect electricity generation.
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HOLLYWOOD BORROWER LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
Financial risk
The Company is exposed to interest rate risk and refinancing risk associated with debt financing used to fund project development and construction. The Company’s funding structure includes a combination of equity and debt and is therefore exposed to risks associated with financing availability and cost of capital.
Regulatory risk
Changes in government policy, planning regulations or regulatory frameworks relating to renewable energy may affect the financial performance of existing and future projects.
The directors monitor these risks on an ongoing basis and seek to mitigate them through appropriate operational and financial management.
Future developments
The directors intend to continue developing the Company’s portfolio of solar PV assets in the United Kingdom. The Company will also continue to assess opportunities to enhance its portfolio, including the potential integration of energy storage solutions.
The directors believe that the Company is well positioned to benefit from the continued growth of the UK renewable energy sector.
This report was approved by the board and signed on its behalf.
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HOLLYWOOD BORROWER LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2025
The directors present their report and the financial statements for the period ended 31 December 2025.
Directors' responsibilities statement
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The directors are responsible for preparing the group strategic report, directors' report and the consolidated financial statements, in accordance with applicable law.
Company law requires the directors to prepare consolidated financial statements for each financial year. Under that law they have elected to prepare the consolidated financial statements in accordance with UK-adopted international accounting standards in conformity with the requirements of the Companies Act 2006.
Under company law the directors must not approve the consolidated financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the company and of the profit or loss of the Group for that period. In preparing the consolidated financial statements, the directors are required to:
∙select suitable accounting policies and then apply them consistently;
∙make judgments and estimates that are reasonable and prudent;
∙state whether they have been prepared in accordance with IFRS Accounting Standards in conformity with the requirements of the Companies Act 2006, subject to any material departures disclosed and explained in the financial statements;
∙assess the Group and company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern; and
∙use the going concern basis of accounting unless they either intend to liquidate the Group or the company or to cease operations, or have no realistic alternative but to do so.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the parent company's transactions and disclose with reasonable accuracy at any time the financial position of the parent company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the Group and to prevent and detect fraud and other irregularities.
The principal activity of the company is that of a holding company.
The loss for the period, after taxation, amounted to £1,750,344 (2024 - profit 5,714,987).
At the balance sheet date, the group had net assets of £10,996,726 (Restated 2024 - £13,804,174).
The directors do not recommend the payment of a final dividend.
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HOLLYWOOD BORROWER LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
The directors who served during the period were:
The group is looking to further develop the projects within the subsidiary companies and push towards energisation of the solar farms.
Disclosure of information to auditors
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Each of the persons who are directors at the time when this directors' report is approved has confirmed that:
∙so far as the director is aware, there is no relevant audit information of which the company and the Group's auditors are unaware, and
∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company and the Group's auditors are aware of that information.
During the year Barnes Roffe LLP resigned as auditors due to the transfer of its audit business and its successor Barnes Roffe Audit Limited was appointed by the directors under s485 Companies Act 2006.
This report was approved by the board and signed on its behalf.
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HOLLYWOOD BORROWER LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HOLLYWOOD BORROWER LIMITED
We have audited the financial statements of Hollywood Borrower Limited (the 'parent company') and its subsidiaries (the 'Group') for the period ended 31 December 2025 which comprise the consolidated statement of profit or loss and other comprehensive income, the Consolidated statement of financial position, the Company statement of financial position, the Consolidated statement of cash flows, the Company statement of cash flows, the Consolidated statement of changes in equity, the Company statement of changes in equity and the related notes, including a summary of material accounting policies set out on pages 21 - 29. The financial reporting framework that has been applied in the preparation of the financial statements is applicable law and UK-adopted international accounting standards in conformity with the requirements of the Companies Act 2006.
In our opinion:
∙the financial statements give a true and fair view of the state of the Group's and the parent company's affairs as at 31 December 2025 and of the Group's loss for the period then ended;
∙the Group financial statements have been properly prepared in accordance with UK-adopted international accounting standards; and
∙the financial statements have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group and the parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
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In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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HOLLYWOOD BORROWER LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HOLLYWOOD BORROWER LIMITED (CONTINUED)
The other information comprises the information included in the annual report, other than the financial statements and our auditors' report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
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In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the group strategic report and the directors' report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
∙the group strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the group strategic report or the directors' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
∙adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
∙the parent company financial statements are not in agreement with the accounting records and returns; or
∙certain disclosures of directors' remuneration specified by law are not made; or
∙we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the directors' responsibilities statement on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the Group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or the parent company or to cease operations, or have no realistic alternative but to do so.
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HOLLYWOOD BORROWER LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HOLLYWOOD BORROWER LIMITED (CONTINUED)
Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
∙the engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance with the applicable laws and regulations;
∙we identified the laws and regulations applicable to the group through discussions with the director and other
management, and from our commercial knowledge and experience of the relevant sector;
∙we focused on specific laws and regulations which we considered may have a direct material effect on the
financial statements or the operations of the group, including the Companies Act 2006;
∙we assessed the extent of the compliance with laws and regulations identified above through making
enquiries of management and inspecting legal correspondence; and
∙identified laws and regulations were communicated within the audit team regularly and the team remained
alert to instances of non-compliance throughout the audit.
We assessed the suspecitibility of the group's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
∙making enquiries of management as to where they considered there was suspecitibility to fraud, their
knowledge of actual, suspected and alleged fraud; and
∙considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and
regulations.
∙We also assessed whether judgments and assumptions made in determining the accounting estimates were
indicative of potenial bias, and investigated the rationale behind significant or unusual transactions.
The areas we identified as being suspectible to misstatement through fraud were:
∙Management bias in the estimates and judgments made; and
∙Management override of controls.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our
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HOLLYWOOD BORROWER LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HOLLYWOOD BORROWER LIMITED (CONTINUED)
auditors' report.
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HOLLYWOOD BORROWER LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HOLLYWOOD BORROWER LIMITED (CONTINUED)
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
Graham Wallace (senior statutory auditor)
for and on behalf of
Barnes Roffe Audit Limited
Chartered Accountants & Statutory Auditor
Leytonstone House
Leytonstone
London
Date: 5 May 2026
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HOLLYWOOD BORROWER LIMITED
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 31 DECEMBER 2025
(Loss)/profit for the period
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Other comprehensive income:
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Items that will or may be reclassified to profit or loss:
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Total comprehensive income
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The notes on pages 21 to 48 form part of these financial statements.
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HOLLYWOOD BORROWER LIMITED
REGISTERED NUMBER: 14628974
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
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Property, plant and equipment
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Trade and other receivables
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Derivative financial assets
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Cash and cash equivalents
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Trade and other liabilities
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Trade and other liabilities
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Derivative financial liabilities
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HOLLYWOOD BORROWER LIMITED
REGISTERED NUMBER: 14628974
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2025
Issued capital and reserves attributable to owners of the parent
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Accumulated other comprehensive income
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The financial statements on pages 10 to 48 were approved and authorised for issue by the board of directors on 27 April 2026 and were signed on its behalf by:
The notes on pages 21 to 48 form part of these financial statements.
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HOLLYWOOD BORROWER LIMITED
REGISTERED NUMBER: 14628974
COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
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Other non-current investments
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Trade and other receivables
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Derivative financial assets
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Cash and cash equivalents
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Trade and other liabilities
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Derivative financial liabilities
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Issued capital and reserves attributable to owners of the parent
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Accumulated other comprehensive income
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HOLLYWOOD BORROWER LIMITED
REGISTERED NUMBER: 14628974
COMPANY STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2025
The company's loss for the period was £1,294,839 (2024 - loss £785,050).
The financial statements on pages 10 to 48 were approved and authorised for issue by the board of directors on 27 April 2026 and were signed on its behalf by:
The notes on pages 21 to 48 form part of these financial statements.
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HOLLYWOOD BORROWER LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2025
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Accumulated other comprehensive income
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Total attributable to equity holders of parent
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Total comprehensive income for the period
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Gain/(loss) on cashflow hedges
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Total contributions by and distributions to owners
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Comprehensive income for the period
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Total comprehensive income for the period
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Contributions by and distributions to owners
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Gain/(loss) on cashflow hedges
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Total contributions by and distributions to owners
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The notes on pages 17 to 41 form part of these financial statements.
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HOLLYWOOD BORROWER LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2025
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Accumulated other comprehensive income
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Total comprehensive income for the period
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Gain/(loss) on cashflow hedges
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Total contributions by and distributions to owners
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Comprehensive income for the period
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Total comprehensive income for the period
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Gain/(loss) on cashflow hedges
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Total contributions by and distributions to owners
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The notes on pages 17 to 41 form part of these financial statements.
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HOLLYWOOD BORROWER LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 31 DECEMBER 2025
Cash flows from operating activities
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(Loss)/profit for the period
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Depreciation of property, plant and equipment
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Net loss arising on financial liabilities designated as at fair value through profit or loss
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Movements in working capital:
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Decrease in trade and other receivables
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(Decrease)/increase in trade and other payables
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Movement in balances from connected companies
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Cash generated from operations
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Net cash from operating activities
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Cash flows from investing activities
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Purchases of property, plant and equipment
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Net cash used in investing activities
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HOLLYWOOD BORROWER LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
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Cash flows from financing activities
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Proceeds from bank borrowings
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Net cash from financing activities
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Net increase in cash and cash equivalents
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Cash and cash equivalents at the beginning of period
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Cash and cash equivalents at the end of the period
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The notes on pages 21 to 48 form part of these financial statements.
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HOLLYWOOD BORROWER LIMITED
COMPANY STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 31 DECEMBER 2025
Cash flows from operating activities
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Net loss arising on financial liabilities designated as at fair value through profit or loss
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Movements in working capital:
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(Increase)/decrease in trade and other receivables
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Movement in balances from connected companies
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Decrease in trade and other payables
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Cash generated from operations
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Net cash used in operating activities
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Cash flows from investing activities
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Net cash from investing activities
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Cash flows from financing activities
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Proceeds from bank borrowings
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Net cash from financing activities
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Net increase/(decrease) in cash and cash equivalents
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Cash and cash equivalents at the beginning of period
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Cash and cash equivalents at the end of the period
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The notes on pages 21 to 48 form part of these financial statements.
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HOLLYWOOD BORROWER LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
Hollywood Borrower Limited (the 'company') is a limited company incorporated in England and Wales. The company's registered office is at Leytonstone House, 3 Hanbury Drive, London, E11 1GA. These consolidated financial statements comprise the company and its subsidiaries (collectively the 'Group' and individually 'Group companies'). The Group is primarily involved in the production of electricity.
The Group's consolidated and the company's individual financial statements have been prepared in accordance with International Financial Reporting Standards, International Accounting Standards and Interpretations as adopted by the UK (collectively IFRSs).
Details of the Group's accounting policies, including changes during the period, are included in note 4.
The company has taken advantage of the exemption available under section 408 of the Companies Act 2006 and elected not to present its own statement of comprehensive income in these financial statements.
In preparing these financial statements, management has made judgments, estimates and assumptions that affect the application of the Group accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.
The areas where judgments and estimates have been made in preparing the consolidated financial statements and their effects are disclosed in note 5.
The financial statements have been prepared on the historical cost basis.
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2.2 Changes in accounting policies
i) New standards, interpretations and amendments effective from 1 January 2025
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There are not expected to be any new or amended accounting standards that are not yet in effect that will have a material impact on the group in the current or future reporting periods and on foreseeable future transactions.
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Functional and presentation currency
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These consolidated financial statements are presented in pound sterling, which is the company's functional currency. All amounts have been rounded to the nearest pound, unless otherwise indicated.
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HOLLYWOOD BORROWER LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
4.Accounting policies
The consolidated financial statements incorporate the financial statements of the company and entities (including structured entities) controlled by the company and its subsidiaries. Control is achieved when the company:
∙has power over the investee;
∙is exposed, or has rights, to variable returns from its involvement with the investee; and
∙has the ability to use its power to affect its returns.
The company reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control listed above.
When the company has less than a majority of the voting rights of an investee, it has power over the investee when the voting rights are sufficient to give it the practical ability to direct the relevant activities of the investee unilaterally. The company considers all relevant facts and circumstances in assessing whether or not the company's voting rights in an investee are sufficient to give it power, including:
∙the size of the company's holding of voting rights relative to the size and dispersion of holdings of the other vote holders;
∙potential voting rights held by the company, other vote holders or other parties;
∙rights arising from other contractual arrangements; and
∙any additional facts and circumstances that indicate that the company has, or does not have, the current ability to direct the relevant activities at this time that decisions need to be made, including voting patterns at previous shareholders' meetings.
Consolidation of a subsidiary begins when the company obtains control over the subsidiary and ceases when the company loses control of the subsidiary. Specifically, income and expenses of a subsidiary acquired or disposed of during the year are included in the consolidated statement of profit or loss and other comprehensive income from the date the company gains control until the date when the company ceases to control the subsidiary.
Profit or loss and each component of other comprehensive income are attributed to the owners of the company and to the non-controlling interests. Total comprehensive income of subsidiaries is attributed to the owners of the company and to the non-controlling interests even if this results in the non-controlling interests having a deficit balance.
When necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies in line with the Group's accounting policies.
All intragroup assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the Group are eliminated in full on consolidation.
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HOLLYWOOD BORROWER LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
4.Accounting policies (continued)
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Basis of consolidation (continued)
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Changes in the Group's ownership interests in existing subsidiaries
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Changes in the Group's ownership interests in subsidiaries that do not result in the Group losing control over the subsidiaries are accounted for as equity transactions. The carrying amounts of the Group's interests and the non-controlling interests are adjusted to reflect the changes in their relative interests in the subsidiaries. Any difference between the amount by which the non-controlling interests are adjusted and the fair value of the consideration paid or received is recognised directly in equity and attributed to owners of the company.
When the Group loses control of a subsidiary, a gain or loss is recognised in profit or loss and its calculated as the difference between (i) the aggregate of the fair value of the consideration received and the fair value of any retained interest and (ii) the previous carrying amount of the assets (including goodwill), and liabilities of the subsidiary and any non-controlling interests. All amounts previously recognised in other comprehensive income in relation to that subsidiary are accounted for as if the Group had directly disposed of the related assets or liabilities of the subsidiary (i.e. reclassified to profit or loss or transferred to another category of equity as specified/permitted by applicable IFRSs). The fair value of any investment retained in the former subsidiary at the date when control is lost is regarded as the fair value on initial recognition for subsequent account under IAS 39, when applicable, the cost on initial recognition of an investment in an associate or a joint venture.
At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements. Creditors consist of balances due to the ultimate controlling party, and other companies under common control. Assurances have been obtained from these parties that they will continue to support the group for a period of not less than 12 months from the date of approval of the annual report and financial statements.
Acquisitions of businesses are accounted for using the acquisition method. The consideration transferred in a business combination is measured at fair value, which is calculated as the sum of the acquisition-date fair values of the assets transferred by the group, liabilities incurred by the group to the former owners of the acquiree and the equity interests issued by the group in exchange for control of the acquiree. Acquisition-related costs are generally recognised in profit or loss as incurred.
At the acquisition date, the identifiable assets acquired and the liabilities assumed are recognised at their fair value.
Goodwill is measured as the excess of the sum of the consideration transferred over the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed.
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HOLLYWOOD BORROWER LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
4.Accounting policies (continued)
Goodwill arising on an acquisition of a business is carried at cost as established at the date of acquisition of the business less accumulated impairment losses, if any.
For the purposes of impairment testing, goodwill is allocated to each of the Group's cash-generating units (or groups of cash-generating units) that is expected to benefit from the synergies of the combination.
A cash-generating unit to which goodwill has been allocated is tested for impairment annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than its carrying amount, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro rata based on the carrying amount of each asset in the unit. Any impairment loss for goodwill is recognised directly in profit or loss. An impairment loss recognised for goodwill is not reversed in subsequent periods.
On disposal of the relevant cash-generating unit, the attributable amount of goodwill is included in the determination of the profit or loss on disposal.
Revenue is measured based on the consideration specified in a contract with a customer and excludes amounts collected on behalf of third parties. The Group recognises revenue when it transfers control over a product or service to a customer.
The Group does not expect to have any contracts where the period between the transfer of the promised goods or services to the customer and payment by the customer exceeds one year. As a consequence, the Group does not adjust any of the transaction prices for the time value of money.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. All other leases are classified as operating leases.
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HOLLYWOOD BORROWER LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
4.Accounting policies (continued)
In preparing the financial statements of each individual group entity, transactions in currencies other than the entity's functional currency (foreign currencies) are recognised at the rates of exchange prevailing at the dates of the transactions. At the end of each reporting period, monetary items denominated in foreign currencies are retranslated at the rates prevailing at that date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing at the date when the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated.
Exchange differences on monetary items are recognised in profit or loss in the period in which they arise except for:
∙exchange differences on foreign currency borrowings relating to assets under construction for future productive use, which are included in the cost of those assets when they are regarded as an adjustment to interest costs on those foreign currency borrowings;
∙exchange differences on transactions entered into, in order to hedge certain foreign currency risks (see 4.17 for hedging accounting policies); and
For the purposes of presenting these consolidated financial statements, the assets and liabilities of the group's foreign operations are translated into pounds using exchange rates prevailing at the end of each reporting period. Income and expense items are translated at the average exchange rates for the period, unless exchange rates fluctuate significantly during that period, in which case the exchange rates at the dates of the transactions are used. Exchange differences arising, if any, are recognised in other comprehensive income and accumulated in equity (and attributed to non-controlling interests as appropriate).
The financial statements are prepared in Sterling, which is considered to be the functional currency of the group. Monetary amounts in these financial statements are rounded to the nearest £1.
Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale.
Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation.
All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
Income tax expense represents the sum of the tax currently payable and deferred tax.
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HOLLYWOOD BORROWER LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
4.Accounting policies (continued)
The tax currently payable is based on taxable profit for the period. Taxable profit differs from ‘profit before tax’ as reported in the consolidated consolidated statement of profit or loss and other 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 Group's 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 temporary differences between the carrying amounts of assets and liabilities in the consolidated financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary 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 temporary differences can be utilised. Such deferred tax assets and liabilities are not recognised if the temporary difference arises from the initial recognition (other than in a business combination) of assets and liabilities in a transaction that affects neither the taxable profit nor the accounting profit. In addition, deferred tax liabilities are not recognised if the temporary difference arises from the initial recognition of goodwill.
Deferred tax liabilities are recognised for taxable temporary differences associated with investments in subsidiaries and associates, and interests in joint ventures, except where the Group is able to control the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets arising from deductible temporary differences associated with such investments and interests are only recognised to the extent that it is probable that there will be sufficient taxable profits against which to utilise the benefits of the temporary differences and they are expected to reverse in the foreseeable future.
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 liabilities and assets 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.
The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Group expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
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(iii) Current and deferred tax for the period
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Current and deferred tax are recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax are also recognised in other comprehensive income or directly in equity respectively. Where current tax or deferred tax arises from the initial accounting for a business combination, the tax effect is included in the accounting for the business combination.
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HOLLYWOOD BORROWER LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
4.Accounting policies (continued)
Items of property, plant and equipment are measured at cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
If significant parts of an item of property, plant and equipment have different useful lives, then they are accounted for as separate items (major components) of property, plant and equipment. Any gain or loss on disposal of an item of property, plant and equipment is recognised in profit or loss. Subsequent expenditure is capitalised only if it is probable that the future economic benefits associated with the expenditure will flow to the group.
Depreciation on assets under construction does not commence until they are complete and available for use. Leased assets are depreciated over the shorter of the lease term and their useful lives unless it is reasonably certain that the group will obtain ownership by the end of the lease term.
Borrowing costs are apportioned between the loan utilised for overhead expenditure or for the cost of assets under construction. Included within fixed assets of the group is capitalised interest of £6,355,439 (2024 - £3,312,114) and capitalised upfront fees of £1,117,950 (2024 - £1,084,551). Interest is charged at the rates implicit of the loan agreements.
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Intangible assets acquired in a business combination
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Intangible assets acquired in a business combination and recognised separately from goodwill are initially recognised at their fair value at the acquisition date (which is regarded as their cost).
Subsequent to initial recognition, intangible assets acquired in a business combination are reported at cost less accumulated amortisation and accumulated impairment losses, on the same basis as intangible assets that are acquired separately.
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HOLLYWOOD BORROWER LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
4.Accounting policies (continued)
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Impairment of tangible and intangible assets other than goodwill
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At the end of each reporting period, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). When it is not possible to estimate the recoverable amount of an individual asset, the group estimates the recoverable amount of the cash-generating unit to which the asset belongs. When a reasonable and consistent basis of allocation can be identified, corporate assets are also allocated to individual cash-generating units, or otherwise they are allocated to the smallest group of cash-generating units for which a reasonable and consistent allocation basis can be identified.
Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment at least annually, and whenever there is an indication that the asset may be impaired.
Recoverable amount is the higher of fair value less costs of disposal and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
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Cash and cash equivalents
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Cash and cash equivalents comprise cash on hand and demand deposits, together with other short-term, highly liquid investments maturing within 90 days from the date of acquisition that are readily convertible into known amounts of cash and which are subject to an insignificant risk of changes in value.
Provisions are recognised when the Group has a present obligation (legal or constructive) as a result of a past event, if it is probable that the Group will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. When a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
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HOLLYWOOD BORROWER LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
4.Accounting policies (continued)
Financial assets and financial liabilities are recognised when a Group entity becomes a party to the contractual provisions of the instruments.
Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised immediately in profit or loss.
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Derivative financial instruments
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The Group enters into a variety of derivative financial instruments to manage its exposure to interest rate and foreign exchange rate risks, including foreign exchange forward contracts, interest rate swaps and cross currency swaps.
Derivatives are initially recognised at fair value at the date the derivative contracts are entered into and are subsequently remeasured to their fair value at the end of each reporting period. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.
The Group designates certain derivatives as hedging instruments in respect of foreign currency risk as fair value hedges, as appropriate. Hedges of foreign exchange risk on firm commitments are accounted for as cash flow hedges.
At the inception of the hedge relationship, the Group documents the relationship between the hedging instrument and the hedged item, along with its risk management objectives and its strategy for undertaking various hedge transactions. Furthermore, at the inception of the hedge and on an ongoing basis, the Group documents whether the hedging instrument is highly effective in offsetting changes in fair values or cash flows of the hedged item attributable to the hedged risk, which is when the hedging relationships meet all of the following hedge effectiveness requirements.
∙there is an economic relationship between the hedged item and the hedging instrument;
∙the effect of credit risk does not dominate the value changes that result from that economic relationship; and
∙the hedge ratio of the hedging relationship is the same as that resulting from the quantity of the hedged item that the Group actually hedges and the quantity of the hedging instrument that it uses to hedge that quantity of hedged item.
If a hedging relationship ceases to meet the hedge effectiveness requirement relating to the hedge ratio but the risk management objective for that designated hedging relationship remains the same, the Group adjusts the hedge ratio of the hedging relationship (i.e. rebalances the hedge) so that it meets the qualifying criteria again.
The Group designates the full change in the fair value of a forward contract (i.e. including the forward elements) as the hedging instrument for all of its hedging relationships involving forward contracts.
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HOLLYWOOD BORROWER LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
4.Accounting policies (continued)
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Hedge accounting (continued)
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The fair value change on qualifying hedging instruments is recognised in profit or loss except when the hedging instrument hedges an equity instrument designated at FVOCI in which case it is recognised in other comprehensive income.
The carrying amount of a hedged item not already measured at fair value is adjusted for the fair value change attributable to the hedged risk with a corresponding entry in profit or loss. For debt instruments measured at FVOCI, the carrying amount is not adjusted as it is already at fair value, but the hedging gain or loss is recognised in profit or loss instead of other comprehensive income. When the hedged item is an equity instrument designated at FVOCI, the hedging gain or loss remains in other comprehensive income to match that of the hedging instrument.
Where hedging gains or losses are recognised in profit or loss, they are recognised in the same line as the hedged item.
The Group discontinues hedge accounting only when the hedging relationship (or a part thereof) ceases to meet the qualifying criteria (after rebalancing, if applicable). This includes instances when the hedging instrument expires or is sold, terminated or exercised. The discontinuation is accounted for prospectively. The fair value adjustment to the carrying amount of the hedged item arising from the hedged risk is amortised to profit or loss from that date.
The effective portion of changes in the fair value of derivatives and other qualifying hedging instruments that are designated and qualify as cash flow hedges is recognised in other comprehensive income and accumulated under the heading of cash flow hedging reserve, limited to the cumulative change in fair value of the hedged item from inception of the hedge. The gain or loss relating to the ineffective portion is recognised immediately in profit or loss, and is included in the ‘other gains and losses' line item.
Amounts previously recognised in other comprehensive income and accumulated in equity are reclassified to profit or loss in the periods when the hedged item affects profit or loss, in the same line as the recognised hedged item. However, when the hedged forecast transaction results in the recognition of a non-financial asset or a non-financial liability, the gains and losses previously recognised in other comprehensive income and accumulated in equity are transferred from equity and included in the initial measurement of the cost of the non-financial asset or non-financial liability. The transfer does not affect other comprehensive income. Furthermore, if the Group expects that some or all of the loss accumulated in other comprehensive income will not be recovered in the future, that amount is immediately reclassified to profit or loss.
The Group discontinues hedge accounting only when the hedging relationship (or part thereof) ceases to meet the qualifying criteria (after rebalancing, if applicable). This includes instances when the hedging instrument expires or is sold, terminated or exercised. The discontinuation is accounted for prospectively. Any gain or loss recognised in other comprehensive income and accumulated in equity at that time remains in equity and is recognised when the forecast transaction is ultimately recognised in profit or loss. When a forecast transaction is no longer expected to occur, the gain or loss accumulated in equity is recognised immediately in profit or loss.
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HOLLYWOOD BORROWER LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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Accounting estimates and judgments
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The preparation of the financial statements in accordance with UK adopted international accounting standards required the use of certain critical accounting estimates. It aslo requires management to exercise its judgment in the process of applying the Group's accounting policies.
Estimates and judgments 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.
No significant judgments have had to be made by management in preparing these financial statements.
The key sources of estimation uncertainty at the reporting date that have significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the financial year are:
i) Present value calculations
Given the nature of the subsidiary companies, the Group have entered in to long-term lease agreements which has been capitalised within the financial statements based on future expected cash flows. The fixed asset and lease liability have been subsequently discounted at a rate which was determined by the Group based on historic knowledge of the industry, comparative knowledge of similar projects which have taken place in the wider group and by making use of independent discounting tools.
ii) Decommissioning provisions
Given the nature of the principal activity of the subsidiary companies, provisions have been included in the financial statements for decommissioning the site at the end of the lease tenure. An external independent company was consulted to provide the expected valuation of costs to decommission the site. The valuation has subsequently also been discounted over the life of the lease using the implicit discounting rate noted above.
iii) Useful economic life of tangible fixed assets
The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated useful economic lives and residual values of the assets.
The average number of employees, including directors, during the year was 2 (2024 - 3).
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HOLLYWOOD BORROWER LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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The following is an analysis of the Group's revenue for the period from continuing operations:
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Production of electricity
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Recharges to connected group companies
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All revenue during the year is attributable to the United Kingdom.
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Movement on hedging activities
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During the period, the Group obtained the following services from the company's auditors:
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Fees payable to the company's auditors for the audit of the consolidated and parent company's financial statements
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HOLLYWOOD BORROWER LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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Finance income and expense
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Recognised in profit or loss
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Interest on right-of-use assets
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Net finance expense recognised in profit or loss
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11.1 Income tax recognised in profit or loss
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Origination and reversal of timing differences
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Tax expense excluding tax on sale of discontinued operation and share of tax of equity accounted associates and joint ventures
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HOLLYWOOD BORROWER LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
11.Tax credit (continued)
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11.1 Income tax recognised in profit or loss (continued)
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The reasons for the difference between the actual tax charge for the period and the standard rate of corporation tax in the United Kingdom applied to profits for the period are as follows:
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(Loss)/profit for the period
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Income tax credit/expense (including income tax on associate, joint venture and discontinued operations)
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Tax using the company's domestic tax rate of 25% (2024:25%)
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Expenses not deductible for tax purposes, other than goodwill, amortisation and impairment
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Capital allowances for the year in excess of depreciation
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Other timing differences leading to an increase/(decrease) in taxation
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Unrelieved tax losses carried forward
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Changes in tax rates and factors affecting the future tax charges
There were no factors that may affect future tax charges.
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HOLLYWOOD BORROWER LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
11.Tax credit (continued)
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11.2 Income tax recognised in other comprehensive income
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Fair value remeasurement of hedging instruments entered into for a hedge of a net investment in a foreign operation
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11.3 Deferred tax balances
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The following is the analysis of deferred tax assets/(liabilities) presented in the consolidated statement of financial position:
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Recognised in profit or loss
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Recognised in other comprehensive income
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Tax losses carried forward
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HOLLYWOOD BORROWER LIMITED
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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11.Tax credit (continued)
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11.3 Deferred tax balances (continued)
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Recognised in profit or loss
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Recognised in other comprehensive income
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Tax losses carried forward
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HOLLYWOOD BORROWER LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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Property, plant and equipment
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Assets under construction
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Transfers between classes
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Transfers between classes
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Assets under construction
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Accumulated depreciation and impairment
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Charge owned for the period
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Charge owned for the period
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During the year, the right-of-use asset was revalued upwards in line with the retail price index increases in the rental payments, in line with the underlying lease agreement. The effective date of these increases was indicative of the anniversary of the start date of the leases.
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HOLLYWOOD BORROWER LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
12.Property, plant and equipment (continued)
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12.1. Assets held under leases
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The net book value of owned and leased assets included as "Property, plant and equipment" in the consolidated statement of financial position is as follows:
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Property, plant and equipment owned
|
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Right-of-use assets, excluding investment property
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The right-of-use asset shown above comprise of leasehold land.
Net book value
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Right-of-use, excluding investment property
|
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|
|
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HOLLYWOOD BORROWER LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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Details of the Group's material subsidiaries at the end of the reporting period are as follows:
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Place of incorporation and operation
|
Proportion of ownership interest and voting power held by the Group (%)
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Production of electricity
|
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Production of electricity
|
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Production of electricity
|
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Production of electricity
|
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|
|
Investments in subsidiary companies
|
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|
|
|
|
HOLLYWOOD BORROWER LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
|
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Trade and other receivables
|
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|
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Receivables from related parties
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Prepayments and accrued income
|
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|
|
Total current trade and other receivables
|
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|
|
|
|
|
|
|
|
Receivables from related parties
|
|
|
|
|
Prepayments and accrued income
|
|
|
|
|
|
|
|
|
|
Total current trade and other receivables
|
|
|
|
|
HOLLYWOOD BORROWER LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
|
|
Derivative financial instruments
|
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|
|
|
|
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|
|
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|
|
Derivative financial assets
|
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|
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|
|
Total derivative financial assets
|
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|
The maximum exposure to credit risk at the reporting date is the fair value of the derivative assets in the Consolidated statement of financial position.
Derivative financial liabilities
|
|
|
|
|
|
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|
|
|
Total derivative financial liabilities
|
|
|
|
|
HOLLYWOOD BORROWER LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
|
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|
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Payables to related parties
|
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|
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Payables to participating interests
|
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|
|
|
|
|
|
|
|
|
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|
|
Total financial liabilities, excluding loans and borrowings, classified as financial liabilities measured at amortised cost
|
|
|
|
|
Less: current portion - trade payables
|
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|
|
Less: current portion - payables to related parties
|
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|
|
Less: current portion - payables to participating interests
|
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|
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Less: current portion - accruals
|
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|
|
|
|
|
|
|
Total non-current position
|
|
|
|
|
|
|
|
|
|
Payables to related parties
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total financial liabilities, excluding loans and borrowings, classified as financial liabilities measured at amortised cost
|
|
|
|
|
Less: current portion - trade payables
|
|
|
|
|
Less: current portion - payables to related parties
|
|
|
|
|
Less: current portion - other payables
|
|
|
|
|
Less: current portion - accruals
|
|
|
|
|
|
|
|
|
|
Total non-current position
|
|
|
|
|
HOLLYWOOD BORROWER LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
|
|
|
|
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|
|
Bank loans due after more than 1 year
|
|
|
|
|
Lease liabilities due after more than 1 year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank loans due within 1 year
|
|
|
|
|
Lease liabilities due within 1 year
|
|
|
|
|
|
|
|
|
|
Total loans and borrowings
|
|
|
|
|
|
|
|
|
|
Bank loans due after more than 1 year
|
|
|
|
|
|
|
|
|
|
Bank loans due within 1 year
|
|
|
|
|
Total loans and borrowings
|
|
|
|
|
The bank loan is cross guaranteed by all companies in the group and is secured on assets held by such companies.
|
|
|
HOLLYWOOD BORROWER LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
|
|
Decommissioning provision
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Due after more than one year
|
|
|
|
|
|
|
|
|
|
|
Ordinary shares of £1.00 each
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ordinary shares of £1.00 each
|
|
|
|
|
|
|
At 1 January and 31 December
|
|
|
|
|
Retained earnings
This reserve relates to cumulative retained earnings less amounts distributed to shareholders.
Accumulated comprehensive income reserve
This reserve relates to unrealised gains and losses from items that are part of other comprehensive income.
|
|
HOLLYWOOD BORROWER LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
During the year, the Company identified a correction in the prior year financial statements relating to the valuation of interest rate swaps.
The prior year financial statements have been restated to correct this. The adjustment increased derivative financial assets by £419,385 and resulted in a corresponding increase in net assets of £301,981 after recognising the associated deferred tax impact.
The correction has been recognised in other comprehensive income in the prior year, with no impact on profit or loss.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The group has leases in place for the land on which the subsidiary companies are constructing the solar farms.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lease liabilities are due as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contractual undiscounted cash flows due
|
|
|
|
|
|
|
|
|
|
Between one year and five years
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lease liabilities included in the Consolidated statement of financial position at 31 December
|
|
|
|
Extension options and termination options
|
|
|
The group has extension options in place in line with each of the lease agreements. Future cash outflows in periods after the date on which an extension option may be exercised are only included in lease liabilities if it is reasonably certain that a lease will be extended or will not be terminated.
|
|
|
HOLLYWOOD BORROWER LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
|
|
Related party transactions
|
Balances and transactions between the company and its subsidiaries, which are related parties of the company, have been eliminated on consolidation and are not disclosed in this note. Details of transactions between the Group and other related parties are disclosed below.
Included within creditors are amounts of £46,898,855 (2024 - £46,091,400) owed to companies under common control. Interest is charged on these loans at the rates implicit on the loan agreements.
The immediate parent company is UK Hollywood Holding Limited. The ultimate controlling party is considered to be ILOS Projects GmbH & Co. KG.
|
|
Business combinations completed in prior periods
|
|
|
(i) Spring Dev 01 Limited
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets under construction
|
|
|
|
|
Trade and other receivables
|
|
|
|
|
|
|
|
|
|
Trade and other liabilities
|
|
|
|
|
|
|
|
|
|
HOLLYWOOD BORROWER LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
|
|
(ii) Spring Dev 02 Limited
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets under construction
|
|
|
|
|
Trade and other receivables
|
|
|
|
|
|
|
|
|
|
Trade and other liabilities
|
|
|
|
|
|
|
|
|
|
(iii) Spring Dev 03 Limited
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets under construction
|
|
|
|
|
Trade and other receivables
|
|
|
|
|
|
|
|
|
|
Trade and other liabilities
|
|
|
|
|
|
|
|
|
|
HOLLYWOOD BORROWER LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
|
|
(iv) Spring Dev 07 Limited
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets under construction
|
|
|
|
|
Trade and other receivables
|
|
|
|
|
|
|
|
|
|
Trade and other liabilities
|
|
|
|
|
|
|
|
|
|
Notes supporting statement of cash flows
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash at bank available on demand
|
|
|
|
Cash and cash equivalents in the statement of financial position
|
|
|
|
Cash and cash equivalents in the statement of cash flows
|
|
|
|
Cash at bank available on demand
|
|
|
|
Cash and cash equivalents in the statement of financial position
|
|
|
|
Cash and cash equivalents in the statement of cash flows
|
|
The group manages its capital to ensure its ability to continue as a going concern and to maintain an optimal capital structure to reduce cost of capital. The capital structure of the group comprises equity attributable to equity holders of the group consisting of issued ordinary share capital, reserves and retained earnings as disclosed in the statement of changes of equity.
|
|
HOLLYWOOD BORROWER LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
|
|
Financial risk management
|
The quantitative data disclosed in the financial statements as at the end of the reporting period is considered to be sufficiently representative of the entity's exposure to risk and its concentration.
|
|
Events after the reporting date
|
There have been no events since the balance sheet date that the Group needs to report on.
|