FOR THE YEAR ENDED 31 MARCH 2025
SITU LIVING LTD
COMPANY INFORMATION
SITU LIVING LTD
CONTENTS
SITU LIVING LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The Directors present their strategic report for the year ended 31 March 2025.
Situ Living Ltd (Situ) operates solely as an independent serviced apartment agency, specialising in corporate accommodation. We remain dedicated to this sector and do not engage in other business areas.
As an independent agent, we do not own or have a financial stake in any of the properties we represent. Instead, we function as a sales agent, much like a travel agency that arranges stays at various hotels.
Our customer base is diverse, spanning multiple industries and business sizes, as well as individual clients. Additionally, we collaborate with companies in the business travel sector, including global relocation firms and travel management companies.
Situ offers multiple ways for customers to find and book serviced apartments. Clients can connect with our team directly, use our online booking platform, or opt for a combination of both. Our Company continues to grow by establishing operations in strategically important locations worldwide.
Situ Living Ltd (Situ) operates solely as an independent serviced apartment agency, specialising in corporate accommodation. We remain dedicated to this sector and do not engage in other business areas.
As an independent agent, we do not own or have a financial stake in any of the properties we represent. Instead, we function as a sales agent, much like a travel agency that arranges stays at various hotels.
Our customer base is diverse, spanning multiple industries and business sizes, as well as individual clients. Additionally, we collaborate with companies in the business travel sector, including global relocation firms and travel management companies.
Situ offers multiple ways for customers to find and book serviced apartments. Clients can connect with our team directly, use our online booking platform, or opt for a combination of both. Our Company continues to grow by establishing operations in strategically important locations worldwide.
The year ended 31 March 2025 has been a year of development for Situ, both in terms of operational improvement and the execution of our long-term strategy. The Company has achieved a 26% annual increase in turnover, which reflects growth in trust and reputation.
For the year under review, the Company made an operating profit of £725,152. While this represents a reduction compared to the previous year, this reflects our continued strategic investment in recruitment to ensure the Company has the necessary talent and resources to meet increasing demand and sustain long-term success.
The Directors review the industry that the Company operates in and take risk management through reviewing key risks and mitigations.
The risks identified are:
∙Competition: The serviced accommodation sector is highly competitive with many established providers offering similar services. The Company regularly assesses competitor offerings to refine its services, ensuring continuous improvements and maintaining a strong market position.
∙Economic Conditions: International and local economic changes would have a direct impact on demand for serviced accommodation. The Company monitors economic trends closely to proactively adapt its strategy based on changing market conditions.
∙Regulatory and Compliance: Changes in policies or regulations by the government can affect our ability to deliver services or change the composition of our cost of operations. The Company is forward-looking and facilitates compliance with regulations, ensuring adherence in all operating regions.
∙Supply Chain: Supply constraints or rising operational costs could limit access to suitable accommodation, which would affect service delivery. The Company is working to strengthen supplier relationships and diversify its portfolio to mitigate such risks.
∙Technological: As a technology-driven business, any interruption or failure of digital infrastructure could impact delivery of service and client satisfaction. To mitigate such risk, the Company invests in digital infrastructure and the regular update and maintenance of systems.
∙Cybersecurity: A cyber-attack could compromise sensitive data. The Company regularly assesses its cybersecurity controls, including data encryption, access controls, and employee training, to guard against evolving threats.
SITU LIVING LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The Company’s key financial and other performance indicators during the year were as follows:
This report was approved by the board on 24 December 2025 and signed on its behalf.
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SITU LIVING LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The Directors present their report and the financial statements for the year ended 31 March 2025.
The profit for the year, after taxation, amounted to £511,254 (2024: £652,000).
During the year, the Directors declared dividends of £560,000 (2024: £402,843). After the year end, the directors declared a dividend of £375,000 which has not been recognised in these financial statements.
The Directors who served during the year were:
The Directors intend to maintain the strategies that have supported the Company’s performance to date. They expect continued stability and, where conditions allow, further growth in the coming year from ongoing operations.
On 8th of September 2025, the Company undertook a reorganisation whereby a new group structure was inserted above Situ Living Ltd, with the Company becoming a wholly owned subsidiary of Extensa Limited, which is itself wholly owned by the ultimate parent, Artogen Ltd.
SITU LIVING LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The auditors, Bishop Fleming Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
SITU LIVING LTD
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025
The Directors are responsible for preparing the Strategic report, the Directors' report and the 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 Company and of the profit or loss of the Company for that period.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
SITU LIVING LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SITU LIVING LTD
We have audited the financial statements of Situ Living Ltd (the 'Company') for the year ended 31 March 2025, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity, the Statement of cash flows, and the related notes, including a summary of significant accounting policies.The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
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 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.
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.
SITU LIVING LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SITU LIVING LTD (CONTINUED)
In our opinion, based on the work undertaken in the course of the 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.
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.
SITU LIVING LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SITU LIVING LTD (CONTINUED)
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:
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:
∙the nature of the sector, control environment and the Company's performance;
∙results of our enquiries of management and the Directors, about their own identification and assessment of the risks of irregularities;
∙any matters we identified having obtained and reviewed the Company's documentation of their policies and procedures relating to:
∙identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
∙detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;
∙the matters discussed among the audit engagement team regarding how and where the fraud might occur in the financial statements and any potential indicators of fraud;
∙As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud, which included incorrect recognition of revenue, management override of controls using manual journal entries, and identified the greatest potential for fraud as incorrect recognition of revenue and management override using manual journal entries.
We have obtained an understanding of the legal and regulatory frameworks that the Company operated in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we have considered in this context include UK Companies Act, FRS 102 and UK tax legislation.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which, may be fundamental to the Company's ability to operate or to avoid a material penalty. These included data protection regulations, agency laws, tax compliance, occupational health and safety regulations, and employment legislation.
Our procedures to respond to risks identified included the following:
∙reviewing the financial statement disclosures and testing to supporting documentation to assess the recognition of revenue;
∙enquiring of Directors and management concerning actual and potential litigation and claims;
∙performing procedures to confirm material compliance with the requirements of the above regulations;
∙performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
∙reading minutes of director meetings; and
∙in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments;
∙and assessing whether the judgments made in making accounting estimates are indicative of a potential bias.
We also communicated relevant identified laws and regulations and potential fraud risks to all enragement team
SITU LIVING LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF SITU LIVING LTD (CONTINUED)
members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
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 Auditors' report.
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.
for and on behalf of
Chartered Accountants
Statutory Auditors
Brook House
Winslade Park
Manor Drive
Exeter
EX5 1GD
SITU LIVING LTD
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2025
SITU LIVING LTD
REGISTERED NUMBER:06624137
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on form part of these financial statements.
SITU LIVING LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
SITU LIVING LTD
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
SITU LIVING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Situ Living Ltd (Company registration number 06624137) is a private Company limited by shares and incorporated in England and Wales. The address of the registered office is Unit 3 Ulysses House, Heron Road, Exeter, England, EX2 7PH.
The principal activity of the Company during the year was that of an independent booking agent providing travel management solutions that specialise in serviced apartment accommodation.
2.ACCOUNTING POLICIES
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
Accounting standards require the Directors to consider the appropriateness of the going concern basis when preparing the financial statements. The Directors confirm that they consider the going concern basis to be appropriate, based upon trading, liquidity, and forecasts prepared for a period of at least 12 months from the date of approval of the financial statements.
The Company has a net liabilities position at the balance sheet date. The Directors have prepared detailed forecasts which provide confidence that the business remains a going concern. The forecasts indicate that the Company has sufficient cash to meet its liabilities as they fall due during this period. In forming their assessment, the Directors have also taken into account a letter of support provided by the shareholders. In addition, the Directors are engaged in discussions regarding potential refinancing arrangements to free up additional capital if required. Accordingly, the Directors are satisfied that it is appropriate to prepare the financial statements on a going concern basis.
The Company has a net liabilities position at the balance sheet date. The Directors have prepared detailed forecasts which provide confidence that the business remains a going concern. The forecasts indicate that the Company has sufficient cash to meet its liabilities as they fall due during this period. In forming their assessment, the Directors have also taken into account a letter of support provided by the shareholders. In addition, the Directors are engaged in discussions regarding potential refinancing arrangements to free up additional capital if required. Accordingly, the Directors are satisfied that it is appropriate to prepare the financial statements on a going concern basis.
SITU LIVING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.ACCOUNTING POLICIES (CONTINUED)
Functional and presentation currency
Transactions and balances
Situ acts as an agent in respect of bookings by customers, as it is not the primary party responsible for providing the components that make up the customers bookings, and it does not control the components before they are transferred to customers.
Commission Income
Commission is earned from accommodation suppliers and is recognised when the performance obligation of arranging and facilitating the booking is fulfilled, typically occurring for each night of the guest's stay.
SITU LIVING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.ACCOUNTING POLICIES (CONTINUED)
SITU LIVING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.ACCOUNTING POLICIES (CONTINUED)
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
The Product suite under construction is stated at cost less any accumulated impairment losses. Costs include development expenditure incurred in designing, testing, and implementing the Product suite.
The asset is not amortised until it is ready for use. Amortisation will commence when the asset is available for use and will be charged on a straight-line basis over its estimated useful life, which will be reviewed annually. Until that point, the asset is reviewed for indicators of impairment in accordance with FRS 102 Section 27 Impairment of Assets.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Amortisation is provided on the following bases:
The Company’s intangible assets are amortised on a straight-line basis over their estimated useful lives. Previously, the Product suite was amortised at a rate of 33% per annum (straight-line), reflecting an estimated useful life of three years.
During the current financial year, management reassessed the expected useful life of the Product suite, considering the anticipated obsolescence of the existing technology and the planned introduction of a replacement platform. As a result of this review, the estimated remaining useful life was revised, and the amortisation rate was changed to 50% per annum straight-line with effect from 1st April 2024.
This change in amortisation rate represents a change in accounting estimate under UK GAAP and has been applied prospectively.
During the current financial year, management reassessed the expected useful life of the Product suite, considering the anticipated obsolescence of the existing technology and the planned introduction of a replacement platform. As a result of this review, the estimated remaining useful life was revised, and the amortisation rate was changed to 50% per annum straight-line with effect from 1st April 2024.
This change in amortisation rate represents a change in accounting estimate under UK GAAP and has been applied prospectively.
Management believes the revised amortisation rate more appropriately reflects the pattern of consumption of the future economic benefits of the Product suite.
Freehold property is not depreciated as its residual value is considered to be equal to or greater than the carrying amount, and therefore any depreciation charge would be immaterial. This assessment is supported by an external valuation performed in 2025. The residual value is reviewed annually to ensure that it remains appropriate.
SITU LIVING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.ACCOUNTING POLICIES (CONTINUED)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
SITU LIVING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.ACCOUNTING POLICIES (CONTINUED)
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.
SITU LIVING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Useful economic lives and residual values of tangible fixed assets
Depreciation is charged so as to allocate the cost of tangible fixed assets, less their residual values, over their estimated useful economic lives. The depreciation methods and useful lives applied are disclosed in note 2.11.
The estimation of useful economic lives and residual values is a key area of judgement and is based on management’s assessment, having regard to manufacturers’ guidelines, expected usage, asset condition, and management’s experience of the sector in which the business operates. Useful lives and residual values are reviewed at each reporting date and, where expectations differ from previous estimates, any changes are accounted for prospectively.
Freehold property is not depreciated as management considers that the residual value of the property is equal to or greater than its carrying amount, and therefore any depreciation charge would be immaterial. This assessment represents a significant judgement of management. The residual value is reviewed annually to ensure that it remains appropriate.
Useful economic life of intangible assets
Amortisation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. The bases for amortisation charges are detailed in note 2.10 and are reviewed and adjusted prospectively if appropriate or if there is a significant change since the last reporting date. Useful lives are estimated by management with reference to license terms and existing knowledge and experience of the sector in which the business operates.
Carrying value of intangible and tangible assets
Management assesses the probability of expected future economic benefits using reasonable and supportable assumptions that represent their best estimate of the economic conditions that will exist over the useful life of the asset.
In reviewing for impairment, the carrying value of such assets is compared to the estimated discounted cashflows expected from the use of the assets which involves significant estimates on the part of management. If there is a material change in economic conditions, climate or other circumstances influencing the estimate of future cash flows or fair value the Company could be required to recognise impairment charges in the future.
SITU LIVING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
SITU LIVING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
SITU LIVING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
SITU LIVING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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SITU LIVING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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The net book value of assets held under finance leases were £204,016 (2024: £184,870)
SITU LIVING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
SITU LIVING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
SITU LIVING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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SITU LIVING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Capital redemption reserve
During the year, the Company repurchased and cancelled 150 ordinary shares with a nominal value of £1 each for a total consideration of £190,000.
In accordance with the requirements of the Companies Act 2006, a capital redemption reserve of £150 was created, equivalent to the nominal value of the shares cancelled.
This reserve was funded out of distributable profits and represents a non-distributable reserve that ensures the Company's capital is maintained following the share buyback.
Profit and loss account
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £81,643 (2024: £63,533). Contributions totalling £1,409 (2024: £14,328) were payable to the fund at the balance sheet date.
On the 27 August 2024, 5 October 2016 and 11 August 2022, charges were registered in line with Chapter A1 Part 25 of the Companies Act 2006 with Companies House. Pursuant to the charge, HSBC UK Bank PLC acting through its registered office at 1 Centenary Square, Birmingham, United Kingdom, B1 1HQ placed a fixed and floating charge on all property of Situ Living Ltd.
On 3rd September 2024, one of the charges was satisfied in full and a statement of satisfaction was filed with Companies House.
On 3rd September 2024, one of the charges was satisfied in full and a statement of satisfaction was filed with Companies House.
SITU LIVING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Subsequent to the year end, the directors declared a dividend of £375,000. This dividend has not been recognised as a liability in these financial statements.
At the year end, the Company was jointly owned by P. T. Stapleton and J. L. Stapleton. On 8 September 2025, control of the Company transferred to its immediate parent company, Extensa Group Ltd. The ultimate controlling party is Artogen Ltd which is owned by P. T. Stapleton and J. L. Stapleton.