STR Enterprises Limited

Registered number

03256878

Directors' report and financial statements

31 January 2025

STR Enterprises Limited
Report and accounts
Contents




Page

Company information	1
Strategic report	2 - 3
Directors' report	4 - 5
Independent auditors' report	6 - 8
Group income statement	9
Group statement of comprehensive income	10
Group statement of financial position	11
Company statement of financial position	12
Group statement of changes in equity	13
Company statement of changes in equity	14
Group statement of cash flows	15
Notes to the financial statements	16 - 32

STR Enterprises Limited

Company Information

Directors

John T Sanderson

Elizabeth A Sanderson

Christopher S Sanderson

Richard A Sanderson

Jason J Sanderson

Independent Auditors

Sumer Auditco Limited

Unit 2

Gosforth Park Avenue

Newcastle upon Tyne

Tyne & Wear

NE12 8EG

Bankers

HSBC

110 Grey Street

Newcastle upon Tyne

Tyne and Wear

NE3 1HE

Registered office

30 The Oval

Forest Hall

Newcastle upon Tyne

Tyne and Wear

NE12 9PP

Registered number

03256878

STR Enterprises Limited
Strategic Report

Review of business
The hospitality industry is under significant pressure as a result of rising prices from our suppliers, increasing wage costs imposed by central government and the rising cost of living reducing the disposable income of our customers combined with changing working patterns (for example, working from home). Despite all of this, the company remains profitable and individual business units are showing growth in sales. The performance of the company is very encouraging for the future. Other significant impacts were the increase in minimum wage, which had knock-on impacts at all pay levels for the company and the continued high cost of electricity and gas. The directors instituted programs to reduce the effect of these rises in operating costs, but as staff and power are integral to the product we offer, their ability to do so without severely impacting the group's competitive position (e.g. by significantly raising prices or reducing the quality of our staff) was limited. Turnover fell by 1.6% to £7,923,768 (2024: £8,055,695) but this was entirely due to the closure of Centurion Park Golf Course to enable course reconfiguration works and one-off sales associated with the disposal of leasehold land at Centurion Park in 2024 not being repeated. Operating profit (excluding related party income) before depreciation and administration fell 5.9% to £1,295,979 (2024: £1,377,077) and EBITDA including gains from part disposal of leasehold properties during the period fell 47.2% to £1,199,908 (2024: £2,274,180)

Finance
The Group has an HSBC (20 year capital repayment) loan facility. The company has met all agreed repayments and there are no matters of which the directors are aware which would lead to the withdrawal of the facility.

Capital expenditure
A major refurbishment and upgrade of the bedrooms at the Manor House Hotel and Country Club continued during the year with £189,821 being spent in the year under review. In addition to the bedroom upgrade, £68,948 was spent upgrading the function facilities at the hotel. There was also a refurbishment and upgrade of the bedrooms at the Victoria Hotel with £46,504 being spent in the year under review. Additionally, £378,745 was spent on course reconfiguration works at Centurion Park Golf Course. In addition to the capital expenditure, a further £284,704 (2024: £300,664) was spent on repairs and renewals which ensures that we continue to improve the quality of our product.

Future
There remain significant challenges within the hospitality industry throughout the UK, in particular the rise in Employer's NI contributions imposed by central government. Despite these pressures, the directors are encouraged with the trading strength shown by our businesses and the profit from operating activities in the period has been good. The company continues to invest significant sums in upgrading and improving its trading properties. The directors are currently working on future schemes to develop our strategically placed businesses.
Principal risks and uncertainties
The Directors have set in place a thorough risk management process that identifies the key risks faced by the Group and ensures that processes are adopted to monitor and mitigate such risks. The principal non-financial risk affecting the business relates to the fact that the market in which the Group operates is highly competitive, with constant pressure on rates in the Provincial marketplace. The Group seeks to mitigate this by ensuring its product offering is maintained to a high standard, via a programme of on-going refurbishment to maintain competitiveness. The principal financial risks affecting the business are credit risk, interest rate risk and liquidity risk. The Directors are satisfied that the credit risk is adequately managed and the level of bad debt is consistent with the nature of the industry. Given the current market expectations as to the movement in bank base rate in the short to medium term, the Directors are aware of the increased interest rate risk and has in place several plans to mitigate the effects of further interest rate rises. This policy will be kept under regular review. Liquidity needs are managed by regular review of the timing of expected receivables and payments (including capital payments required on the bank and other loans) and the availability of facilities and levels of cash on deposit via the preparation of cash flow forecasts.

This report was approved by the board on 5 December 2025 and signed on its behalf.





Christopher Sanderson
Director

STR Enterprises Limited
Registered number:		03256878
Directors' Report

The directors present their report and financial statements for the year ended 31 January 2025.

Principal activities
STR Enterprises Limited's principal activity continued to be owning and operating hotels. Keeping Inn Limited's principal activity continued to be trading as an operator of bars, restaurants and leisure facilities.

We would like to thank the staff for all of their hard work and effort throughout the year.

Future developments
The directors anticipate the business environment will remain competitive. They believe that the group is in a good financial position and that the risks that have been identified are being well managed. With a careful focus on the provision of current products and services as well as appropriate development of new products and services, as well as continuing review of the state of the market and the activities of competitors, the directors are confident in the group's ability to maintain and build on this position, albeit with cautious growth expectations.

Dividends
Dividends of £220,390 (2024: £220,390) were paid during the year.

Directors
The following persons served as directors during the year:

	John T Sanderson
	Elizabeth A Sanderson
	Christopher S Sanderson
	Richard A Sanderson
	Jason J Sanderson

Directors' responsibilities

The directors are responsible for preparing the report and financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102 and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:
●	select suitable accounting policies and then apply them consistently;
●	make judgements and estimates that are reasonable and prudent;
●	state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
●	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group's transactions and disclose with reasonable accuracy at any time the financial position of the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.


Disclosure of information to auditors

Each person who was a director at the time this report was approved confirms that:
●	so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and
●	they have taken all the steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.


Strategic report
The strategic report has been prepared on pages 4 and 5, in accordance with section 414C(11) of the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013.


This report was approved by the board on 5 December 2025 and signed on its behalf.





Christopher Sanderson
Director

STR Enterprises Limited
Independent auditor's report
to the members of STR Enterprises Limited

Opinion

We have audited the financial statements of STR Enterprises Limited ('the group') for the year ended 31 January 2025 which comprise the Group Income Statement, the Group Statement of Comprehensive Income, the Group Statement of Financial Position, the Company Statement of Financial Position, the Group Statement of Changes in Equity, the Company Statement of Changes in Equity, the Group Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
●	give a true and fair view of the state of the group's and parent company's affairs as at 31 January 2025 and of the group's profit for the year then ended;
●	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
●	have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion

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 Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’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
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 and 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.

Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor's 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.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
●	the information given in the strategic report and the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
●	the 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 company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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 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, 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 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 parent company or to cease operations, or have no realistic alternative but to do so.

Auditor’s 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 auditor’s 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.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Capability of the audit in detecting irregularities, including fraud
Discussions with and enquiries of management and those charged with governance were held with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity.
The following laws and regulations were identified as being of significance to the entity:
●	Those laws and regulations considered to have a direct effect on the financial statements including UK financial reporting standards, Company Law, Tax and Pensions legislation and distributable profits legislation.
●	Those laws and regulations for which non-compliance may be fundamental to the operating aspects of the business and therefore may have a material effect on the financial statements include health and safety legislation and UK licensing laws.
Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: inquiries of management and those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of legal costs incurred; testing the appropriateness of journal entries; and the performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud.
No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

A further description of our responsibilities for the audit of the financial statements is available on the Financial Reporting Council’s website at https://www.frc.org.uk/auditorsresponsibilities This description forms part of our auditor’s report.
Use of our report

This report is made solely to the parent 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 parent company’s members those matters we are required to state to them in an auditor’s 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.





Paul Gainford
(Senior Statutory Auditor)		Unit 2
for and on behalf of		Gosforth Park Avenue
Sumer Auditco Limited		Newcastle upon Tyne
Statutory Auditor		Tyne & Wear
5 December 2025		NE12 8EG

STR Enterprises Limited
Group Income Statement
for the year ended 31 January 2025


Notes		2025		2024
£			£

Turnover	3	7,923,768		8,055,695

Cost of sales		(1,975,910)		(2,078,920)

Gross profit		5,947,858		5,976,775

Administrative expenses		(5,211,702)		(5,218,798)
Other operating income	7	-		86,831

Operating profit	4	736,156		844,808

Gain on sale of fixed assets		234,483		1,190,774
Impairment of fixed assets	11	25,341		-
Interest receivable		8,025		9,503
Interest payable	8	(451,119)		(476,688)

Profit on ordinary activities before taxation		552,886		1,568,397

Tax on profit on ordinary activities	9	(155,004)		(190,743)

Profit for the financial year		397,882		1,377,654

Non controlling interests		(30,746)		(318,771)

Profit for the financial year attributable to members
of the parent company		367,136		1,058,883

The notes on pages 16 to 32 form part of these financial statements

STR Enterprises Limited
Group statement of comprehensive income
for the year ended 31 January 2025


Notes		2025		2024
£			£

Profit for the financial year		397,882		1,377,654

Other comprehensive income
Gain on revaluation of long leasehold land and buildings	10	254,565		-
Gain on revaluation of freehold land and buildings	10	817,407		-
Deferred taxation arising on the revaluation of land and buildings	19	(222,592)		43,473

Total comprehensive income for the year		1,247,262		1,421,127

Non controlling interests		(88,262)		(329,639)

Comprehensive income for the financial year attributable to members of the parent company		1,159,000		1,091,488

STR Enterprises Limited
Group Statement of Financial Position
as at 31 January 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	10		18,825,200			17,053,776
Investments	12		100,000			100,000
			18,925,200			17,153,776

Current assets
Stocks	13	63,504			55,575
Debtors	14	723,320			977,617
Cash at bank and in hand		58,692			286,922
		845,516			1,320,114

Creditors: amounts falling due within one year	15	(2,654,086)			(2,184,705)

Net current liabilities			(1,808,570)			(864,591)

Total assets less current liabilities			17,116,630			16,289,185

Creditors: amounts falling due after more than one year	16		(4,883,016)			(5,303,560)

Provisions for liabilities
Deferred taxation	19		(2,222,974)			(1,986,657)

Net assets			10,010,640			8,998,968

Capital and reserves
Called up share capital	20		214,135			214,135
Share premium	21		74,637			74,637
Other reserves	22		3,382,895			2,622,734
Profit and loss account	23		5,187,719			5,009,270
Equity attributable to owners of the parent company			8,859,386			7,920,776

Non controlling interests	24		1,151,254			1,078,192

Total equity			10,010,640			8,998,968




Christopher Sanderson
Director
Company registration number 03256878
Approved by the board on 5 December 2025
Registered in England. Company registration number: 03256878
The notes on pages 16 to 32 form part of these financial statements

STR Enterprises Limited
Company Statement of Financial Position
as at 31 January 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	10		14,027,832			12,808,683
Investments	12		4,006,095			3,752,710
			18,033,927			16,561,393

Current assets
Stocks	13	36,713			30,053
Debtors	14	73,619			146,815
Cash at bank and in hand		45,553			144,507
		155,885			321,375

Creditors: amounts falling due within one year	15	(3,755,983)			(3,250,333)

Net current liabilities			(3,600,098)			(2,928,958)

Total assets less current liabilities			14,433,829			13,632,435

Creditors: amounts falling due after more than one year	16		(4,166,881)			(4,509,998)

Provisions for liabilities
Deferred taxation	19		(1,591,673)			(1,374,372)

Net assets			8,675,275			7,748,065

Capital and reserves
Called up share capital	20		214,135			214,135
Share premium	21		74,637			74,637
Other reserves	22		5,110,762			4,238,062
Profit and loss account	23		3,275,741			3,221,231

Total equity			8,675,275			7,748,065




Christopher Sanderson
Director
Company registration number 03256878
Approved by the board on 5 December 2025
Registered in England. Company registration number: 03256878
The notes on pages 16 to 32 form part of these financial statements

STR Enterprises Limited
Group Statement of Changes in Equity
for the year ended 31 January 2025

Share		Share		Other		Profit		Non		Total
capital		premium		reserves		and loss		Controlling
account								Interest
£		£		£		£		£		£

At 1 February 2023	214,135		74,637		2,647,612		4,113,294		760,553		7,810,231

Profit for the financial year							1,058,883		318,771		1,377,654

Transfer of realised profit	-		-		(57,483)		57,483		-		-
Deferred taxation arising on the revaluation of land and buildings					32,605				10,868		43,473
Other comprehensive income for the financial year	-		-		(24,878)		57,483		10,868		43,473
Total comprehensive income for the financial year	-		-		(24,878)		1,116,366		329,639		1,421,127

Dividends	-		-		-		(220,390)		(12,000)		(232,390)

At 31 January 2024	214,135		74,637		2,622,734		5,009,270		1,078,192		8,998,968



At 1 February 2024	214,135		74,637		2,622,734		5,009,270		1,078,192		8,998,968

Profit for the financial year	-		-		-		367,136		30,746		397,882

Transfer of realised profit	-		-		(31,703)		31,703		-		-
Gain on revaluation of freehold land and buildings					817,407				-		817,407
Gain on revaluation of leasehold land and buildings					190,924				63,641		254,565
Deferred taxation arising on the revaluation of land and buildings	-		-		(216,467)		-		(6,125)		(222,592)
Other comprehensive income for the financial year	-		-		760,161		31,703		57,516		849,380
Total comprehensive income for the financial year	-		-		760,161		398,839		88,262		1,247,262

Dividends	-		-		-		(220,390)		(15,200)		(235,590)

At 31 January 2025	214,135		74,637		3,382,895		5,187,719		1,151,254		10,010,640

The notes on pages 16 to 32 form part of these financial statements

STR Enterprises Limited
Company Statement of Changes in Equity
for the year ended 31 January 2025

Share		Share		Other		Profit		Total
capital		premium		reserves		and loss
account
£		£		£		£		£

At 1 February 2023	214,135		74,637		3,258,146		3,339,049		6,885,967

Profit for the financial year	-		-		-		102,572		102,572

Gain on revaluation of fixed asset investment	-		-		979,916		-		979,916
Other comprehensive income for the financial year	-		-		979,916		-		979,916
Total comprehensive income for the financial year	-		-		979,916		102,572		1,082,488

Dividends	-		-		-		(220,390)		(220,390)

At 31 January 2024	214,135		74,637		4,238,062		3,221,231		7,748,065



At 1 February 2024	214,135		74,637		4,238,062		3,221,231		7,748,065

Profit for the financial year	-		-		-		274,900		274,900

Gain on revaluation of land and buildings					817,407				817,407
Gain on revaluation of fixed asset investment	-		-		253,385		-		253,385
Deferred taxation arising on the revaluation of land and buildings	-		-		(198,092)		-		(198,092)
Other comprehensive income for the financial year	-		-		872,700		-		872,700
Total comprehensive income for the financial year	-		-		872,700		274,900		1,147,600

Dividends	-		-		-		(220,390)		(220,390)

At 31 January 2025	214,135		74,637		5,110,762		3,275,741		8,675,275

The notes on pages 16 to 32 form part of these financial statements

STR Enterprises Limited
Statement of Cash Flows
for the year ended 31 January 2025

Notes		2025		2024
£			£
Operating activities
Profit for the financial year		397,882		1,377,654

Adjustments for:
Gain on sale of fixed assets		(234,483)		(1,190,774)
Impairment of land and buildings		(25,341)		-
Interest receivable		(8,025)		(9,503)
Interest payable		451,119		476,688
Tax on profit on ordinary activities		155,004		190,743
Depreciation		229,269		238,598
(Increase)/decrease in stocks		(7,929)		7,720
Decrease/(increase) in debtors		254,297		(383,183)
Increase/(decrease) in creditors		239,395		(503,721)
		1,451,188		204,222

Interest received		8,025		9,503
Interest paid		(447,417)		(473,430)
Interest element of finance lease payments		(3,702)		(3,258)
Corporation tax paid		(79,092)		(22,746)

Cash generated by/(used in) operating activities		929,002		(285,709)

Investing activities
Payments to acquire tangible fixed assets		(903,380)		(772,686)
Proceeds from sale of tangible fixed assets		234,483		2,527,326

Cash (used in)/generated by investing activities		(668,897)		1,754,640

Financing activities
Equity dividends paid		(235,590)		(232,390)
Repayment of loans		(388,824)		(1,085,280)
Capital element of finance lease payments		(28,001)		(21,179)

Cash used in financing activities		(652,415)		(1,338,849)

Net cash (used)/generated
Cash generated by/(used in) operating activities		929,002		(285,709)
Cash (used in)/generated by investing activities		(668,897)		1,754,640
Cash used in financing activities		(652,415)		(1,338,849)

Net cash (used)/generated		(392,310)		130,082

Cash and cash equivalents at 1 February 2024		286,922		156,840
Cash and cash equivalents at 31 January 2025		(105,388)		286,922

Cash and cash equivalents comprise:
Cash at bank		58,692		286,922
Bank overdrafts	15	(164,080)		-
		(105,388)		286,922

STR Enterprises Limited
Notes to the Accounts
for the year ended 31 January 2025

1	Summary of significant accounting policies

	Basis of preparation
	The financial statements have been prepared under the historical cost convention (except for certain fixed assets which are recorded at fair value) and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.

	Going concern
	After making enquiries, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the next 12 months. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

	Government grants
	Income from Government Grants is presented within other operating income. Government Grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. Grants are recognised as income when the associated performance conditions are met.

	Tangible fixed assets

	Tangible fixed assets, except Motor Vehicles, are stated in the statement of financial position at their revalued amounts. The revalued amounts equate to the fair value at the date of revaluation, less any depreciation and any impairment losses subsequently accumulated. Revaluations are carried out regularly so that the carrying amounts do not materially differ from using the fair value at the date of the statement of financial position. Any revaluation increase or decrease on land and buildings is credited to the revaluation reserve in 'other reserves'. Motor vehicles are measured at cost less accumulated depreciation and any accumultated impairment losses. Depreciation is provided on all tangible fixed assets, except freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Leasehold property			Straight line over the lease term
	Plant, fixtures, fittings and equipment			Straight line over 15 years
	Soft furnishings			Straight line over 5 years
	Motor vehicles			25% reducing balance

	The directors consider that freehold properties are maintained in such a state of repair that their residual value is at least equal to their net book value. As a result, the corresponding depreciation charge would not be material and is therefore not charged in the profit and loss account. The directors perform annual impairment reviews in accordance with the requirements of FRS102 to ensure the carrying value is not higher than the recoverable amount.


	Investments
	Investments in subsidiaries are stated at fair value less accumulated impairment losses. Fair value is measured as the holding company's share of net asets taken from the statement of financial position of the subsidiary. Investments in associates and joint ventures are measured at cost less any accumulated impairment losses. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Basis of consilidation
	The group accounts consolidate the financial statements of the Company and its subsidiary undertaking drawn up to 31 January 2025. Each group company has the same year end. All intra-group transactions and balances are eliminated on consolidation.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Critical accounting estimates and judgements

	In the application of the group's accounting policies, which are described in note 1, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both currect and future periods.
	Sources of estimation uncertainty
	Valuation of properties
	As described in note 10 to the financial statements, property is stated at fair value based on the valuations performed on 31 March 2025. The valuations have been based on independent valuations by members of the Royal Institute of Chartered Surveyors. There remains some uncertainty in the UK property market which has inevitably increased the degree of judgement involved in the property valuation at 31 January 2025. The total value of the properties held in the financial statements at 31 January 2025 is £17,591,151 (2024: £15,859,783).


3	Analysis of turnover					2025		2024
£							£

	Rooms					2,458,360		2,357,600
	Food					2,174,624		2,159,380
	Liquor					2,701,048		2,560,067
	Leisure					493,681		403,494
	Golf sales					17,961		154,879
	Other					78,094		420,275
						7,923,768		8,055,695

	By geographical market:

	UK					7,923,768		8,055,695


4	Operating profit					2025		2024
£							£
	This is stated after charging:

	Depreciation of owned fixed assets					220,176		230,891
	Depreciation of assets held under finance leases and hire purchase contracts					9,093		7,707
	Auditors' remuneration for audit services					13,305		13,305


5	Directors' emoluments					2025		2024
£							£

	Emoluments					88,386		111,256
	Company contributions to defined contribution pension plans					8,803		78,803
						97,189		190,059

	The directors are considered to be the only key management of the company.

	Number of directors to whom retirement benefits accrued:					2025		2024
Number							Number

	Defined contribution plans					5		5


6	Staff costs					2025		2024
£							£

	Wages and salaries					3,156,243		2,879,300
	Social security costs					227,563		197,837
	Other pension costs					69,197		134,941
						3,453,003		3,212,078

	All pension costs above are in respect of defined contribution pension schemes.


	Average number of employees during the year					Number	Number

	Administration					5		5
	Sales					207		189
						212		194


7	Other operating income					2025		2024
£							£

	Insurance claims					-		86,831
						-		86,831


8	Interest payable					2025		2024
£							£

	Bank loans and overdrafts					447,417		473,430
	Finance charges payable under finance leases and hire purchase contracts					3,702		3,258
						451,119		476,688


9	Taxation					2025		2024
£							£
	Analysis of charge in period
	Current tax:
	UK corporation tax on profits of the period					141,279		125,616

	Deferred tax:
	Origination and reversal of timing differences					13,725		65,127


	Tax on profit on ordinary activities					155,004		190,743


	Factors affecting tax charge for period
	The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows:

						2025		2024
£							£
	Profit on ordinary activities before tax					552,886		1,568,397

	Standard rate of corporation tax in the UK					25.00%		23.81%

£							£
	Profit on ordinary activities multiplied by the standard rate of corporation tax					138,222		373,435

	Effects of:
	Super deduction for qualifying plant and machinery					-		27,593
	Depreciation for period in excess of capital allowances					3,057		(25,756)
	Adjustments in respect of property disposals					-		(249,656)

	Current tax charge for period					141,279		125,616


10	Tangible fixed assets
	Group	Freehold land and buildings		Leasehold land and buildings		Plant, equip & soft furnishings		Motor vehicles
		At valuation		At valuation		At valuation		At cost
£			£		£		£
	Cost or valuation
	At 1 February 2024	12,041,759		4,578,333		1,966,738		97,669
	Additions	305,273		395,914		202,193		-
	Revaluation	817,407		(457,617)		-		-
	Disposals	-		-		(11,201)		-
	At 31 January 2025	13,164,439		4,516,630		2,157,730		97,669

	Depreciation
	At 1 February 2024	115,259		645,050		795,621		74,793
	Charge for the year	-		67,132		156,716		5,421
	Revaluation	(25,341)		(712,182)		-		-
	On disposals	-		-		(11,201)		-
	At 31 January 2025	89,918		-		941,136		80,214

	Carrying amount
	At 31 January 2025	13,074,521		4,516,630		1,216,594		17,455
	At 31 January 2024	11,926,500		3,933,283		1,171,117		22,876

								Total

£
	Cost or valuation
	At 1 February 2024							18,684,499
	Additions							903,380
	Revaluation							359,790
	Disposals							(11,201)
	At 31 January 2025							19,936,468

	Depreciation
	At 1 February 2024							1,630,723
	Charge for the year							229,269
	Revaluation							(737,523)
	On disposals							(11,201)
	At 31 January 2025							1,111,268

	Carrying amount
	At 31 January 2025							18,825,200
	At 31 January 2024							17,053,776

						2025		2024
£							£
	Carrying amount of land and buildings on cost basis					9,530,516		8,896,934


	On 31 March 2025 a valuation of the freehold properties together with their fixtures, fittings and equipment was carried out by Lambert Smith Hampton, independent valuers and members of the Royal Institute of Chartered Surveyors. The directors carried out an impairment review of the freehold properties together with their fixtures, fittings and equipment as at 31 January 2025 and are satisfied that the valuations undertaken by Lambert Smith Hampton remain unchanged. The valuations incorporated into the accounts amounted to £6,800,000 for the Victoria Hotel, Bamburgh, £1,790,000 for Point Cottages, Bamburgh, £3,300,000 for the Manor House Hotel and Spa, West Auckland and £2,100,000 for the Honest Lawyer Hotel at Croxdale. On 31 March 2025 a valuation of the Centurion Bar together with its fixtures, fittings and equipment was carried out by Lambert Smith Hampton, independent valuers and members of the Royal Institute of Chartered Surveyors. The directors carried out an impairment review of the Centurion Bar together with their fixtures, fittings and equipment as at 31 January 2025 and are satisfied that the valuations undertaken remain unchanged. The valuations amounted to £2,100,000. The carrying value of Centurion Park Golf Club at 31 January 2025 is £2,525,850. The directors consider this to be a fair valuation at that date taking into account all history of value realised at the site together with future plans that have been developed. See note 16 for assets pledged as security.

						2025		2024
£							£
	Carrying value of assets included above held under finance leases and hire purchase contracts					88,142		97,235

	Company	Freehold land and buildings		Fixtures, equip & soft furnishings		Motor vehicles		Total
		At valuation		At valuation		At cost
£			£		£		£
	Cost or valuation
	At 1 February 2024	12,041,759		1,329,642		97,669		13,469,070
	Additions	305,273		200,126		-		505,399
	Revaluation	817,407		-		-		817,407
	At 31 January 2025	13,164,439		1,529,768		97,669		14,791,876

	Depreciation
	At 1 February 2024	115,259		470,335		74,793		660,387
	Charge for the year	-		123,577		5,421		128,998
	Revaluation	(25,341)		-		-		(25,341)
	At 31 January 2025	89,918		593,912		80,214		764,044

	Carrying amount
	At 31 January 2025	13,074,521		935,856		17,455		14,027,832
	At 31 January 2024	11,926,500		859,307		22,876		12,808,683


						2025		2024
£							£
	Carrying amount of land and buildings on cost basis					8,298,983		8,036,454


	On 31 March 2025 a valuation of the freehold properties together with their fixtures, fittings and equipment was carried out by Lambert Smith Hampton, independent valuers and members of the Royal Institute of Chartered Surveyors. The directors carried out an impairment review of the freehold properties together with their fixtures, fittings and equipment as at 31 January 2025 and are satisfied that the valuations undertaken by Lambert Smith Hampton remain unchanged. The valuations incorporated into the accounts amounted to £6,800,000 for the Victoria Hotel, Bamburgh, £1,790,000 for Point Cottages, Bamburgh, £3,300,000 for the Manor House Hotel and Spa, West Auckland and £2,100,000 for the Honest Lawyer Hotel at Croxdale.

						2025		2024
£							£
	Carrying value of motor vehicles included above held under finance leases and hire purchase contracts					9,761		13,015


11	Impairment of assets

	On 31 March 2025, a valuation of the Manor House Hotel and Spa, West Auckland was recognised as per the note above. The recognition of this valuation required a reversal of a previous reduction of £115,259 that had been taken to the Profit and Loss account year ended 31 January 2023. At the same date a valuation of The Honest Lawyer Hotel, Croxdale was recognised as per the note above. The recognition of this valuation required a reduction of the book value below historical cost. In accordance with FRS102 this reduction of £89,918 has been recognised in the Profit and Loss account. The directors continued spending on the upgrade of these facilities after the valuation and are confident that future valuations of the same property will reflect an increase in value.


12	Investments

	Group							Investments in
associated
undertakings
£
	Cost
	At 1 February 2024							100,000
	At 31 January 2025							100,000

	Company							Investments in
subsidiary
undertakings
£
	At 1 February 2024							3,752,710
	Revaluation							253,385

	At 31 January 2025							4,006,095

	Historical cost
	At 31 January 2025							236,019
	At 31 January 2024							236,019

	The investment in Keeping Inn Limited is shown as a value of 75% of the net assets at 31 January 2025.

	The company holds 20% or more of the share capital of the following companies:

Capital and							Profit
	Company	Shares held				reserves	for the year
		Class		%	£		£
	Keeping Inn Limited	Ordinary		75		5,341,460		122,982


13	Stocks	Group				Company
		2025		2024		2025		2024
£			£		£		£

	Raw materials and consumables	63,504		55,575		36,713		30,053


14	Debtors	Group				Company
		2025		2024		2025		2024
£			£		£		£

	Trade debtors	17,781		12,406		13,514		6,947
	Amounts owed by undertakings in which the group has a participating interest	462,088		442,277		-		-
	Prepayments and accrued income	243,451		522,934		60,105		139,868
		723,320		977,617		73,619		146,815


15	Creditors: amounts falling due within one year	Group				Company
	Creditors: amounts falling due within one year	2025		2024		2025		2024
£			£		£		£

	Bank overdrafts	164,080		-		47,278		-
	Bank loans	409,239		410,125		349,908		350,804
	Other loans	31,045		28,238		31,045		28,238
	Obligations under finance lease and hire purchase contracts	29,799		28,001		4,924		4,768
	Trade creditors	235,247		389,399		163,440		262,481
	Amounts owed to group undertakings	-		-		1,801,445		1,609,493
	Corporation tax	266,878		204,691		81,453		56,841
	Other taxes and social security costs	431,319		390,373		294,667		258,702
	Directors' accounts	416,501		348,917		416,501		348,917
	Other creditors	669,978		384,961		565,322		330,089
		2,654,086		2,184,705		3,755,983		3,250,333


16	Creditors: amounts falling due after one year	Group				Company
	Creditors: amounts falling due after one year	2025		2024		2025		2024
£			£		£		£

	Bank loans	4,857,569		5,217,201		4,152,348		4,459,428
	Other loans	9,879		40,992		9,879		40,992
	Obligations under finance lease and hire purchase contracts	15,568		45,367		4,654		9,578
		4,883,016		5,303,560		4,166,881		4,509,998


17	Loans	Group				Company
		2025		2024		2025		2024
£			£		£		£

	Loans not wholly repayable within five years:
	Repayable over 20 years, Interest charged at 2.75% over SONIA	5,266,808		5,617,194		4,502,256		4,810,232

	Analysis of maturity of debt:
	Within one year or on demand	436,686		430,937		377,355		379,042
	Between one and two years	367,431		383,615		315,536		331,720
	Between two and five years	1,076,927		1,088,259		921,243		932,575
	After five years	3,426,688		3,783,613		2,929,046		3,236,125
		5,307,732		5,686,424		4,543,180		4,879,462

	Security has been given by the company to secure £5,266,808 of the amount shown under creditors. The bank loan is secured by a debenture creating a fixed and floating charge over the assets of the company, First Legal Charges over The Victoria Hotel, The Manor House Hotel and Spa and The Honest Lawyer Hotel. There is also a Cross Guarantee given by Keeping Inn Limited supported by First Legal Charges over the leasehold interests in The Centurion Bar in Newcastle upon Tyne and the Centurion Park Golf Club, Wallsend.


18	Obligations under finance leases and hire purchase contracts	Group				Company
		2025		2024		2025		2024
		£	£		£		£

	Amounts payable:
	Within one year	29,799		28,001		4,924		4,768
	Within two to five years	15,568		45,367		4,654		9,578
		45,367		73,368		9,578		14,346

	Hire purchase liabilities are secured over the assets to which they relate.


19	Deferred taxation	Group				Company
		2025		2024		2025		2024
£			£		£		£

	Revaluation of land and buildings	1,918,965		1,696,373		1,356,811		1,158,719
	Accelerated capital allowances	304,009		290,284		234,862		215,653
		2,222,974		1,986,657		1,591,673		1,374,372

	Deferred tax has been calculated using the rate expected to apply when the tax becomes chargeable, which is 25% (2024: 25%)

		Group				Company
		2025		2024		2025		2024
£			£		£		£

	At 1 February 2024	1,986,657		1,965,003		1,374,372		1,348,600
	Charged to the profit and loss account	13,725		65,127		19,209		25,772
	Charged to other comprehensive income	222,592		(43,473)		198,092		-

	At 31 January 2025	2,222,974		1,986,657		1,591,673		1,374,372



20	Share capital					Group & Company
Nominal				2025		2025		2024
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		214,135		214,135		214,135


21	Share premium					Group & Company
						2025		2024
£							£

	At 1 February 2024					74,637		74,637

	At 31 January 2025					74,637		74,637

	Share premium records the amount above nominal value received for shares sold, less transaction costs.


22	Other reserves	Group				Company
		2025		2024		2025		2024
	Revaluation reserve	£	£		£		£

	At 1 February 2024	2,622,734		2,647,612		4,238,062		3,258,146
	Gain on revaluation of leasehold land and buildings	254,565		-		-		-
	Gain on revaluation of freehold land and buildings	817,407		-		817,407		-
	Gain on revaluation of fixed asset investment	-		-		253,385		979,916
	Deferred taxation arising on the revaluation of land and buildings	(222,592)		43,473		(198,092)		-
	Transfer of realised profit	(31,703)		(57,483)		-		-
	Non controlling interest in Other Comprehensive income	(57,516)		(10,868)		-		-

	At 31 January 2025	3,382,895		2,622,734		5,110,762		4,238,062

	The revaluation reserve reflects the movement in the true value of fixed assets and investments, which are not held at cost. The revaluation model has been adopted for freehold and leasehold land and buildings, and fixtures, equipment and soft furnishings.


23	Profit and loss account	Group				Company
		2025		2024		2025		2024
£			£		£		£

	At 1 February 2024	5,009,270		4,113,294		3,221,231		3,339,049
	(Loss)/profit for the financial year	367,136		1,058,883		274,900		102,572
	Transfer of realised profit	31,703		57,483		-		-
	Dividends	(220,390)		(220,390)		(220,390)		(220,390)

	At 31 January 2025	5,187,719		5,009,270		3,275,741		3,221,231

	The profit and loss account records the cumulative amount of profits and losses less any dividends paid or proposed.


24	Non controlling interests					Group
						2025		2024
£							£

	At 1 February 2024					1,078,192		760,553
	Profit for the financial year					30,746		318,771
	Other comprehensive income					57,516		10,868
	Dividends paid to Non controlling interests					(15,200)		(12,000)

	At 31 January 2025					1,151,254		1,078,192


25	Dividends	Group				Company
		2025		2024		2025		2024
£			£		£		£

	Dividends on ordinary shares (note 23)	220,390		220,390		220,390		220,390



26	Reconciliation of movement in net debt

		1 February 2024	Cash flows			Non-cash changes		31 January 2025
£			£		£		£

	Cash at bank and in hand	286,922		(228,230)				58,692
	Overdrafts	-		(164,080)				(164,080)
				(392,310)

	Debt due within 1 year	(438,363)		388,824		(390,745)		(440,284)
	Debt due after 1 year	(5,258,193)		-		390,745		(4,867,448)
	Finance leases	(73,368)		28,001				(45,367)
				416,825

	Total	(5,483,002)		24,515		-		(5,458,487)


27	Related party transactions					2025		2024
£							£
	Keeping Inn Limited (Registered in England Co. No. 03303284)
	Subsidiary company
	Management charges received during year					286,500		201,000
	Due to Keeping Inn Limited at year end					(1,801,445)		(1,609,493)
	JT & EA Sanderson
	Directors
	Interest free loan made to company with no fixed date for repayment
	Due to JT & EA Sanderson at the year end					(302,462)		(237,349)
	STR Enterprises Limited family pension scheme
	Directors are trustees of scheme
	Services provided to scheme					Nil	Nil
	Rents paid to scheme					(8,000)		(8,000)
	Due from/(to) to scheme at the year end					22,151		5,076
	Harrison Golf & Leisure Limited (registered in England Co. No. 11425291)
	Associate company
	Due from Harrison Golf & Leisure Limited at the year end					462,088		436,387
	C S Sanderson
	Director
	Interest free loan made to company with no fixed date for repayment
	Due to C S Sanderson at the year end					(111,827)		(104,977)
	J J Sanderson
	Director
	Interest free loan made to company with no fixed date for repayment
	Due to J J Sanderson at the year end					294		269
	R A Sanderson
	Director
	Interest free loan with no fixed date for repayment
	Due to R A Sanderson at the year end					(2,506)		(6,860)

	During the year the group purchased services totalling £13,333 (2024: £16,668) from Blue House Properties (North East) Limited, a company in which Christopher Sanderson's wife is a shareholder and director. The balance outstanding at the year end was £Nil (2024 £Nil). All transactions were undertaken on an arms length basis.


28	Controlling party

	The company is controlled by its directors.


29	Presentation currency

	The financial statements are presented in Sterling.


30	Legal form of entity and country of incorporation

	STR Enterprises Limited is a private company limited by shares and incorporated in England.


31	Principal place of business

	The address of the company's principal place of business and registered office is:

	30 The Oval
	Forest Hall
	Newcastle upon Tyne
	Tyne and Wear
	NE12 9PP