REGISTERED NUMBER: 01691631 (England and Wales)

SANDBURN YORK LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2026

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

to

4

Report of the Independent Auditors

5

to

8

Statement of Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Cash Flow Statement

12

Notes to the Cash Flow Statement

13

Notes to the Financial Statements

14

to

24

DIRECTORS:

Mr J Hogg

Mrs H A Abdelsattar

Mr S Buckley

Mr D P Holmes

SECRETARY:

Mr J Hogg

REGISTERED OFFICE:

Sandburn Hall

Flaxton

York

North Yorkshire

YO60 7RB

REGISTERED NUMBER:

01691631 (England and Wales)

AUDITORS:

UHY Calvert Smith LLP

Statutory Auditor

Chartered Accountants

Heritage House

Murton Way

Osbaldwick

York

North Yorkshire

YO19 5UW

BANKERS:

Lloyds TSB Bank plc

2 Pavement

York

YO1 2XA

The directors present their strategic report for the year ended 31 January 2026.

REVIEW OF BUSINESS

Sandburn York Limited continued to provide a range of holiday, leisure and hospitality facilities from the Sandburn Hall Estate through the year under review. The principal activities of the company are the Griffon Forest holiday lodges, leisure and hospitality facilities at Sandburn Hall (including the golf course, Tykes restaurant, and wedding / event hosting), and the Sandburn Hall Hotel.

The directors are satisfied that the company has again produced a robust financial result for the year against the backdrop of rising supplier prices and payroll cost increases.

Total turnover reduced by 1.2% to £7.6m. This is primarily the result of a reduced number of wedding bookings in the year, linked to the clearing of the COVID-19 era backlog of wedding bookings in the previous financial year. This was offset by a strong year for both golf sales (increase in turnover of £138K), and holiday lodge sales (increase in turnover of £126K).

Increases in supplier costs and staff wages put significant pressure on margins again this year, and the company continued to invest heavily in the ongoing maintenance and refurbishment of its facilities, with considerable expenditure on holiday lodge refurbishments in the year. Despite these cost increases, profit before taxation has increased on the prior year to £1.6m (2025: £1.5m). This is linked to the both the continued profitability of the business and the sale of a property in the year, with a gain of £1.2m recognised in profit and loss.

Cash reserves have increased on the prior year, despite considerable expenditure in capital improvements for the restaurant and kitchens and parent company loan repayments of £550K. This is linked to both the profitability of the business and the cash received from the property sale noted above.

PRINCIPAL RISK AND UNCERTAINTIES

Trading conditions remain challenging, in consideration of continued expected supplier cost increases and payroll cost increases.

The market sector is also highly competitive and requires a continued focus on quality services and value.

FUTURE PLANS

The company plans to continue with its ongoing process of holiday lodge refurbishment for Griffon Forest, as well as continued developments at the Sandburn Hall site, including the hotel, restaurant, function rooms and golf course.

FINANCIAL INSTRUMENTS

The company's financial risk management objectives are to ensure sufficient working capital is retained in the business, to allow continued reinvestment to maintain and enhance the company's facilities and to provide a reasonable return for the business. The company is supported in this by a loan from its parent company to fund major capital expenditure, and hire purchase finance for key asset purchases where appropriate.

Cash flow is carefully managed by the company, with cash placed on short term deposit where appropriate.

ON BEHALF OF THE BOARD:

Mr J Hogg - Director

8 July 2026

The directors present their report with the financial statements of the company for the year ended 31 January 2026.

DIVIDENDS

No dividends will be distributed for the year ended 31 January 2026.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 February 2025 to the date of this report.

Mr J Hogg

Mrs H A Abdelsattar

Mr S Buckley

Mr D P Holmes

DISCLOSURE IN THE STRATEGIC REPORT

The business review, future developments and discussion of financial risk management has been included in the Strategic Report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards 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 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 and then apply them consistently;

-	make judgements 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 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, UHY Calvert Smith LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr J Hogg - Director

8 July 2026

Opinion

We have audited the financial statements of Sandburn York Limited (the 'company') for the year ended 31 January 2026 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, 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 our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 January 2026 and of its 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the 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 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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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 the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors 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 Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, 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 Statement of Directors' Responsibilities set out on page three, 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 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 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 company or to cease operations, or have no realistic alternative but to do so.

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 a Report of the Auditors 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:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and from our commercial knowledge and experience of the sector; and

- 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 company, including the Companies Act 2006, taxation, employment, and health and safety legislation.

We assessed the susceptibility of the company'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 susceptibility 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.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates set out in note 2 were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation; and

- enquiring of management as to actual and potential litigation and claims, and incidences of non-compliance; and

- reviewing legal and professional expenditure and appropriate documentation.

There are inherent limitations in the audit procedures described above; any instance of non-compliance with laws and regulations and fraud which is far removed from transactions reflected in the financial statements would diminish the likelihood of detection. Furthermore, the risk of not detecting a material misstatement due to fraud is greater than the risk of not detecting one resulting from error. Fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentation, or through an act of collusion that would mitigate internal controls.

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 Report of the Auditors.

Use of our 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 a Report of the Auditors 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.

Hayden Priest BEng BFP FCA (Senior Statutory Auditor)

for and on behalf of UHY Calvert Smith LLP

Statutory Auditor

Chartered Accountants

Heritage House

Murton Way

Osbaldwick

York

North Yorkshire

YO19 5UW

17 July 2026

TURNOVER

3

7,594,957

7,685,988

Cost of sales

6,161,296

5,644,189

GROSS PROFIT

1,433,661

2,041,799

Administrative expenses

1,299,791

1,215,776

133,870

826,023

Other operating income

197,159

215,983

OPERATING PROFIT

6

331,029

1,042,006

(Gain)/loss on sale of

tangible fixed assets

7

1,209,410

-

1,540,439

1,042,006

Interest receivable and similar income

8

123,842

111,234

1,664,281

1,153,240

(Gain)/loss on revaluation

of investment property

-

385,043

1,664,281

1,538,283

Interest payable and similar expenses

9

21,578

-

PROFIT BEFORE TAXATION

1,642,703

1,538,283

Tax on profit

10

443,176

418,671

PROFIT FOR THE FINANCIAL YEAR

1,199,527

1,119,612

FIXED ASSETS

Tangible assets

11

15,680,083

16,272,492

Investment property

12

1,846,018

2,172,041

17,526,101

18,444,533

CURRENT ASSETS

Stocks

13

95,974

45,140

Debtors

14

237,553

263,105

Cash at bank and in hand

4,549,652

3,104,967

4,883,179

3,413,212

CREDITORS

Amounts falling due within one year

15

3,172,806

3,549,160

NET CURRENT ASSETS/(LIABILITIES)

1,710,373

(135,948

)

TOTAL ASSETS LESS CURRENT LIABILITIES

19,236,474

18,308,585

CREDITORS

Amounts falling due after more than one year

16

(4,068,791

)

(4,750,118

)

PROVISIONS FOR LIABILITIES

19

(1,702,182

)

(1,292,493

)

NET ASSETS

13,465,501

12,265,974

CAPITAL AND RESERVES

Called up share capital

20

100

100

Retained earnings - non distributable

21

165,531

338,031

Retained earnings

21

13,299,870

11,927,843

SHAREHOLDERS' FUNDS

13,465,501

12,265,974

The financial statements were approved by the Board of Directors and authorised for issue on 8 July 2026 and were signed on its behalf by:

Mr J Hogg - Director

Retained

Called up

earnings

share

Retained

- non

Total

capital

earnings

distributable

equity

£

£

£

£

Balance at 1 February 2024

100

11,097,013

49,249

11,146,362

Changes in equity

Total comprehensive income

-

830,830

288,782

1,119,612

Balance at 31 January 2025

100

11,927,843

338,031

12,265,974

Changes in equity

Total comprehensive income

-

1,372,027

(172,500

)

1,199,527

Balance at 31 January 2026

100

13,299,870

165,531

13,465,501

Cash flows from operating activities

Cash generated from operations

1

963,837

1,583,392

Interest element of hire purchase payments paid

(21,578

)

-

Tax paid

(153,535

)

(32,581

)

Net cash from operating activities

788,724

1,550,811

Cash flows from investing activities

Purchase of tangible fixed assets

(307,028

)

(1,166,544

)

Purchase of investment property

(89,445

)

-

Sale of tangible fixed assets

1,479,486

1,276

Sale of investment property

415,468

-

Interest received

99,030

110,963

Net cash from investing activities

1,597,511

(1,054,305

)

Cash flows from financing activities

Capital repayments in year

(391,550

)

-

Group loan repayment

(550,000

)

(500,000

)

Net cash from financing activities

(941,550

)

(500,000

)

Increase/(decrease) in cash and cash equivalents

1,444,685

(3,494

)

Cash and cash equivalents at beginning of year

2

3,104,967

3,108,461

Cash and cash equivalents at end of year

2

4,549,652

3,104,967

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2026

2025

£

£

Profit before taxation

1,642,703

1,538,283

Depreciation charges

629,363

579,292

(Profit)/loss on disposal of fixed assets

(1,209,410

)

9,685

Gain on revaluation of fixed assets

-

(385,043

)

Finance costs

21,578

-

Finance income

(123,842

)

(111,234

)

960,392

1,630,983

(Increase)/decrease in stocks

(50,834

)

6,664

Decrease/(increase) in trade and other debtors

54,379

(143,254

)

(Decrease)/increase in trade and other creditors

(100

)

88,999

Cash generated from operations

963,837

1,583,392

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 January 2026

31.1.26

1.2.25

£

£

Cash and cash equivalents

4,549,652

3,104,967

Year ended 31 January 2025

31.1.25

1.2.24

£

£

Cash and cash equivalents

3,104,967

3,108,461

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.2.25

Cash flow

At 31.1.26

£

£

£

Net cash

Cash at bank and in hand

3,104,967

1,444,685

4,549,652

3,104,967

1,444,685

4,549,652

Debt

Finance leases

(865,000

)

391,550

(473,450

)

(865,000

)

391,550

(473,450

)

Total

2,239,967

1,836,235

4,076,202

1.	STATUTORY INFORMATION

Sandburn York Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company's principal place of business is Sandburn Hall, Flaxton, York, YO60 7RB.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The directors have considered the financial position and trading projections of the company, and have a reasonable expectation that the company has adequate resources to continue to trade into the foreseeable future. The company therefore continues to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts receivable for good and services supplied by the company to its customers in the course of its principal activities, after the deduction of trade discounts and value added tax.

Turnover is recognised when the goods or services have been supplied to the customer. Deposits and other amounts received in advance are deferred, and included in creditors, until the stay, event or other service has been supplied.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

1% - 2% on cost and not provided

Assets under construction

-

not provided

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

20% straight line, 10% straight line, 5% straight line and between 10% and 33.33% on net book value

Motor vehicles

-

25% on reducing balance

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

No depreciation is charged on land held by the company, included in freehold property, on the basis that its estimated recoverable amount is not less than its carrying value in the financial statements.

Freehold property primarily relates to the properties and development of the Sandburn Hall Estate as carried out by the company; the underlying land is however under the ownership of the parent company.

Government agricultural grants

Government agricultural grants are recognised in profit or loss on the performance basis. Where information is not available to accurately estimate agricultural grant income before receipt in the period which the income relates to, income is recognised at the point at which this information becomes available.

Investment property

Investment property is held by the company to earn rentals or for capital appreciation, rather than for use in the business or as part of the company's trading activities.

Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Rental income from investment properties is recognised on a straight line basis over the term of the relevant lease.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

The company uses the most recent purchase price as the basis for arriving at cost for most stock types, as the result is considered to approximate actual cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments

The company is supported by way of a loan from its parent company.

Under its terms, this loan is interest free, unsecured and repayable on demand within one year and one day. These terms are set on a rolling annual basis.

The loan is recognised as a creditor falling due after more than 1 year, and recorded at transaction price; being the balance of funds received and repaid at the balance sheet date. Amortised cost, using the effective interest rate method, is not considered to be appropriate given the terms of the loan.

Cash at bank includes amounts held on demand in current account, and on short term fixed deposit.

Hire purchase and operating leases

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Operating lease expenditure is charged to profit and loss on a straight line basis over the period of the lease. Lease commitments outstanding are disclosed in the notes to the financial statements but not recognised as a liability.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make significant judgements and estimates. The key items in the financial statements where these judgements and estimates have been made include:

Depreciation and residual values

The directors have reviewed the asset lives and associated residual values of all fixed asset classes, and concluded that the company's depreciation policies are appropriate.

Valuation of investment property

Investment properties are included in the financial statements at an estimate of fair value, as determined by the directors. This valuation is informed by the use of professional experts and industry knowledge within the company, and is based upon rental yield and general market conditions.

3.

TURNOVER

The turnover and profit before taxation are attributable to the principal activities of the company.

An analysis of turnover by class of business is given below:

2026

2025

£

£

Holiday lodges

2,468,040

2,341,743

Golf and leisure activities

3,590,776

3,796,344

Hotel

1,536,141

1,547,901

7,594,957

7,685,988

4.	EMPLOYEES AND DIRECTORS

2026

2025

£

£

Wages and salaries

2,870,525

2,745,616

Social security costs

302,152

215,556

Other pension costs

100,320

118,945

3,272,997

3,080,117

The average number of employees during the year was as follows:

2026

2025

Admin and management

16

15

Services

120

128

136

143

5.	DIRECTORS' EMOLUMENTS

2026

2025

£

£

Directors' remuneration

216,192

207,724

Directors' pension contributions to money purchase schemes

53,220

76,970

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

4

4

Information regarding the highest paid director is as follows:

2026

2025

£

£

Emoluments etc

55,327

60,992

Pension contributions to money purchase schemes

6,568

17,799

6.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2026

2025

£

£

Operating lease income

(112,998

)

(102,824

)

Depreciation - owned assets

629,361

579,290

Loss on disposal of fixed assets

-

9,685

Operating lease expenditure

40,393

31,718

Auditor's remuneration

8,925

8,500

Government agricultural subsidies

(72,151

)

(89,257

)

7.	EXCEPTIONAL ITEMS

2026

2025

£

£

(Gain)/loss on sale of

tangible fixed assets

1,209,410

-