STR Enterprises Limited

Registered number

03256878

Directors' report and financial statements

31 January 2026

STR Enterprises Limited
Report and accounts
Contents




Page

Company information	1
Strategic report	2 - 4
Directors' report	5 - 6
Independent auditors' report	7 - 9
Group income statement	10
Group statement of comprehensive income	11
Group statement of financial position	12
Company statement of financial position	13
Group statement of changes in equity	14
Company statement of changes in equity	15
Group statement of cash flows	16
Notes to the financial statements	17 - 33

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 rose 7.5% to £8,516,683 (2025: £7,923,768). Operating profit (excluding related party income) before depreciation and administration rose 18.8% to £1,539,158 (2025: £1,295,979) and EBITDA including gains from part disposal of leasehold properties during the period fell 1.6% to £1,180,141 (2025: £1,199,908). Group Net Assets fell 3.6% to £9,653,110 (2025: £10,010,640).

Finance
On 2 July 2026 the STR Enterprises Limited group refinanced its HSBC debt as per note 16 with NatWest. The new facility is for 25 years and incurs interest at 2% over the Bank of England base rate.

Capital expenditure
A major refurbishment and upgrade of the bedrooms at the Manor House Hotel and Country Club continued during the year with £231,062 being spent in the year under review. There was also a refurbishment and upgrade of the bedrooms at the Victoria Hotel with £140,552 being spent in the year under review as well as £23,044 being spent on a stand-alone power generator at the hotel. Additionally, £229,436 was spent on course reconfiguration works at Centurion Park Golf Course. In addition to the capital expenditure, a further £303,441 (2025: £284,704) was spent on repairs and renewals which ensures that we continue to improve the quality of our product.

Future
There remain significant challenges facing the hospitality industry throughout the UK, particularly the continued pressures from rising employment costs, including increases in Employers’ National Insurance contributions, energy costs and wider operating expenses. Despite these challenges, the directors remain encouraged by the resilience of the Group’s businesses, the strength of trading performance and the profitability achieved during the year. The Group has made substantial investment in the refurbishment and upgrading of its hotel properties, particularly guest bedrooms and facilities. These improvements have significantly enhanced the quality of the Group’s offering, providing a more attractive and comfortable experience for guests, strengthening the competitive position of its hotels and creating opportunities to improve occupancy, room rates and overall trading performance. The directors are encouraged by the progress made and remain committed to continuing this programme of investment in the coming years, ensuring that the Group’s properties remain attractive, competitive and well positioned for future growth. Following significant investment in the reconfiguration and improvement of the golf course at Centurion Park, the directors look forward to seeing golf return to the site, initially with the opening of a nine-hole course. The Group is also committed to delivering the new prominent entrance from West Street, an important milestone which will improve access and visibility and play a key role in unlocking the wider development potential of this strategically important site. The Group also recognises that its people are fundamental to its continued success. During the coming year, the Group intends to further develop and implement its staff wellbeing strategy, working alongside Kalobrate to promote a positive, supportive and engaging working environment in which team members feel valued and have opportunities to develop and thrive. The directors remain confident in the long-term prospects of the Group and look forward to building on the progress achieved, continuing to invest in its properties, its people and the future development of its 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 20 October 2026 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 2026.

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 £178,757 (2025: £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 2 - 4, 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 20 October 2026 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 2026 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 2026 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
21 October 2026		NE12 8EG

STR Enterprises Limited
Group Income Statement
for the year ended 31 January 2026


Notes		2026		2025
£			£

Turnover	3	8,516,683		7,923,768

Cost of sales		(2,113,616)		(1,975,910)

Gross profit		6,403,067		5,947,858

Administrative expenses		(5,463,247)		(5,211,702)

Operating profit	4	939,820		736,156

Gain on sale of fixed assets		9,317		234,483
(Loss)/gain on revaluation of land and buildings	10	(207,303)		25,341
Interest receivable		5,166		8,025
Interest payable	7	(395,925)		(451,119)

Profit on ordinary activities before taxation		351,075		552,886

Tax on profit on ordinary activities	8	(154,643)		(155,004)

Profit for the financial year		196,432		397,882

Non controlling interests		(82,761)		(30,746)

Profit for the financial year attributable to members
of the parent company		113,671		367,136

The notes on pages 17 to 33 form part of these financial statements

STR Enterprises Limited
Group statement of comprehensive income
for the year ended 31 January 2026


Notes		2026		2025
£			£

Profit for the financial year		196,432		397,882

Other comprehensive income
Gain on revaluation of long leasehold land and buildings	9	220,929		254,565
Gain on revaluation of freehold land and buildings	9	154,599		817,407
Deferred taxation arising on the revaluation of land and buildings	18	(93,882)		(222,592)

Total comprehensive income for the year		478,078		1,247,262

Non controlling interests		(82,761)		(88,262)


Comprehensive income for the financial year attributable to members of the parent company		395,317		1,159,000

STR Enterprises Limited
Group Statement of Financial Position
as at 31 January 2026

Notes			2026			2025
£				£
Fixed assets
Tangible assets	9		19,442,237			18,825,200
Investments	11		100,000			100,000
			19,542,237			18,925,200

Current assets
Stocks	12	60,416			63,504
Debtors	13	580,994			723,320
Cash at bank and in hand		88,361			58,692
		729,771			845,516

Creditors: amounts falling due within one year	14	(3,749,306)			(2,654,086)

Net current liabilities			(3,019,535)			(1,808,570)

Total assets less current liabilities			16,522,702			17,116,630

Creditors: amounts falling due after more than one year	15		(4,537,538)			(4,883,016)

Provisions for liabilities
Deferred taxation	18		(2,332,054)			(2,222,974)

Net assets			9,653,110			10,010,640

Capital and reserves
Called up share capital	19		228,833			214,135
Share premium	20		611,136			74,637
Other reserves	21		3,629,208			3,382,895
Profit and loss account	22		5,183,933			5,187,719
Equity attributable to owners of the parent company			9,653,110			8,859,386

Non controlling interests	23		-			1,151,254

Total equity			9,653,110			10,010,640




Christopher Sanderson
Director
Company registration number 03256878
Approved by the board on 20 October 2026
Registered in England. Company registration number: 03256878
The notes on pages 17 to 33 form part of these financial statements

STR Enterprises Limited
Company Statement of Financial Position
as at 31 January 2026

Notes			2026			2025
£				£
Fixed assets
Tangible assets	9		14,240,690			14,027,832
Investments	11		5,663,181			4,006,095
			19,903,871			18,033,927

Current assets
Stocks	12	34,417			36,713
Debtors	13	82,410			73,619
Cash at bank and in hand		70,508			45,553
		187,335			155,885

Creditors: amounts falling due within one year	14	(4,931,921)			(3,755,983)

Net current liabilities			(4,744,586)			(3,600,098)

Total assets less current liabilities			15,159,285			14,433,829

Creditors: amounts falling due after more than one year	15		(3,866,332)			(4,166,881)

Provisions for liabilities
Deferred taxation	18		(1,639,843)			(1,591,673)

Net assets			9,653,110			8,675,275

Capital and reserves
Called up share capital	19		228,833			214,135
Share premium	20		611,136			74,637
Other reserves	21		5,692,858			5,110,762
Profit and loss account	22		3,120,283			3,275,741

Total equity			9,653,110			8,675,275




Christopher Sanderson
Director
Company registration number 03256878
Approved by the board on 20 October 2026
Registered in England. Company registration number: 03256878
The notes on pages 17 to 33 form part of these financial statements

STR Enterprises Limited
Group Statement of Changes in Equity
for the year ended 31 January 2026

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

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 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



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

Profit for the financial year	-		-		-		113,671		82,761		196,432

Transfer of realised profit	-		-		(35,333)		35,333		-		-

Gain on revaluation of freehold land and buildings					154,599				-		154,599
Gain on revaluation of leasehold land and buildings					220,929				-		220,929
Deferred taxation arising on the revaluation of land and buildings	-		-		(93,882)		-		-		(93,882)
Other comprehensive income for the financial year	-		-		246,313		35,333		-		281,646
Total comprehensive income for the financial year	-		-		246,313		149,004		82,761		478,078

Paid for Minority interest stake									(1,190,939)		(1,190,939)
Reserve transfer on acquisition of shares							25,076		(25,076)		-
Dividends	-		-		-		(177,866)		(18,000)		(195,866)
Shares issued	14,698		536,499								551,197

At 31 January 2026	228,833		611,136		3,629,208		5,183,933		-		9,653,110

The notes on pages 17 to 33 form part of these financial statements

STR Enterprises Limited
Company Statement of Changes in Equity
for the year ended 31 January 2026

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

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



At 1 February 2025	214,135		74,637		5,110,762		3,275,741		8,675,275

Profit for the financial year	-		-		-		22,408		22,408

Gain on revaluation of land and buildings					154,599				154,599
Gain on revaluation of fixed asset investment	-		-		466,147		-		466,147
Deferred taxation arising on the revaluation of land and buildings	-		-		(38,650)		-		(38,650)
Other comprehensive income for the financial year	-		-		582,096		-		582,096
Total comprehensive income for the financial year	-		-		582,096		22,408		604,504

Dividends	-		-		-		(177,866)		(177,866)
Shares issued	14,698		536,499						551,197

At 31 January 2026	228,833		611,136		5,692,858		3,120,283		9,653,110

The notes on pages 17 to 33 form part of these financial statements

STR Enterprises Limited
Statement of Cash Flows
for the year ended 31 January 2026

Notes		2026		2025
£			£
Operating activities
Profit for the financial year		196,432		397,882

Adjustments for:
Gain on sale of fixed assets		(9,317)		(234,483)
Impairment of land and buildings		207,303		(25,341)
Interest receivable		(5,166)		(8,025)
Interest payable		395,925		451,119
Tax on profit on ordinary activities		154,643		155,004
Depreciation		240,321		229,269
Decrease/(increase) in stocks		3,088		(7,929)
Decrease in debtors		142,326		254,297
Increase in creditors		782,984		239,395
		2,108,539		1,451,188

Interest received		5,166		8,025
Interest paid		(392,105)		(447,417)
Interest element of finance lease payments		(3,820)		(3,702)
Corporation tax paid		(116,036)		(79,092)

Cash generated by operating activities		1,601,744		929,002

Investing activities
Payments to acquire tangible fixed assets		(634,444)		(903,380)
Payments to acquire investments		(1,190,939)		-
Proceeds from sale of tangible fixed assets		14,999		234,483

Cash used in investing activities		(1,810,384)		(668,897)

Financing activities
Equity dividends paid		(195,866)		(235,590)
Proceeds from the issue of shares		551,197		-
Repayment of loans		(390,564)		(388,824)
Capital element of finance lease payments		(40,029)		(28,001)

Cash used in financing activities		(75,262)		(652,415)

Net cash used
Cash generated by operating activities		1,601,744		929,002
Cash used in investing activities		(1,810,384)		(668,897)
Cash used in financing activities		(75,262)		(652,415)

Net cash used		(283,902)		(392,310)

Cash and cash equivalents at 1 February 2025		(105,388)		286,922
Cash and cash equivalents at 31 January 2026		(389,290)		(105,388)

Cash and cash equivalents comprise:
Cash at bank		88,361		58,692
Bank overdrafts	14	(477,651)		(164,080)
		(389,290)		(105,388)

STR Enterprises Limited
Notes to the Accounts
for the year ended 31 January 2026

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 hotel accommodation, food, liquor and spa/leisure club. Turnover from the sale of hotel accommodation and the spa/leisure club is recognised each day over the course of the guests stay/use of the facilities with any deposits retained recognised as income as they become non-cancellable. Turnover from the sale of food and liquor is recognised when control of the items purchased is passed 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 accumulated 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 assets 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 consolidation
	The group accounts consolidate the financial statements of the Company and its subsidiary undertaking drawn up to 31 January 2026. 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 current and future periods.
	Sources of estimation uncertainty
	Valuation of properties
	As described in note 9 to the financial statements, property is stated at fair value based on the valuations performed in the following financial year. 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 2026. The total value of the properties held in the financial statements at 31 January 2026 is £18,173,081 (2025: £17,591,151).


3	Analysis of turnover					2026		2025
£							£

	Rooms					2,546,625		2,458,360
	Food					2,242,158		2,174,624
	Liquor					3,087,553		2,701,048
	Leisure					525,167		493,681
	Golf sales					-		17,961
	Other					115,180		78,094
						8,516,683		7,923,768

	By geographical market:

	UK					8,516,683		7,923,768


4	Operating profit					2026		2025
£							£
	This is stated after charging:

	Depreciation of owned fixed assets					228,718		220,176
	Depreciation of assets held under finance leases and hire purchase contracts					11,603		9,093
	Auditors' remuneration for audit services					20,710		13,015
	Auditors' remuneration for other services					3,500		-


5	Directors' emoluments					2026		2025
£							£

	Emoluments					77,939		88,386
	Company contributions to defined contribution pension plans					8,852		8,803
						86,791		97,189

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

	Number of directors to whom retirement benefits accrued:					2026		2025
Number							Number

	Defined contribution plans					5		5


6	Staff costs					2026		2025
£							£

	Wages and salaries					3,340,721		3,156,243
	Social security costs					317,040		227,563
	Other pension costs					70,154		69,197
						3,727,915		3,453,003

	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					196		207
						201		212


7	Interest payable					2026		2025
£							£

	Bank loans and overdrafts					392,105		447,417
	Finance charges payable under finance leases and hire purchase contracts					3,820		3,702
						395,925		451,119


8	Taxation					2026		2025
£							£
	Analysis of charge in period
	Current tax:
	UK corporation tax on profits of the period					139,445		141,279

	Deferred tax:
	Origination and reversal of timing differences					15,198		13,725


	Tax on profit on ordinary activities					154,643		155,004


	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:

						2026		2025
£							£
	Profit on ordinary activities before tax					351,075		552,886

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

£							£
	Profit on ordinary activities multiplied by the standard rate of corporation tax					87,769		138,222

	Effects of:
	Depreciation for period in excess of capital allowances					51,676		3,057

	Current tax charge for period					139,445		141,279


9	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 2025	13,164,439		4,516,630		2,157,730		97,669
	Additions	244,463		229,436		220,916		-
	Revaluation	154,599		160,735		-		-
	Disposals	-		-		(18,470)		(70,686)
	At 31 January 2026	13,563,501		4,906,801		2,360,176		26,983

	Depreciation
	At 1 February 2025	89,918		-		941,136		80,214
	Charge for the year	-		60,194		176,891		3,236
	Revaluation	207,303		(60,194)		-		-
	On disposals	-		-		(18,095)		(65,379)
	At 31 January 2026	297,221		-		1,099,932		18,071

	Carrying amount
	At 31 January 2026	13,266,280		4,906,801		1,260,244		8,912
	At 31 January 2025	13,074,521		4,516,630		1,216,594		17,455

								Total

£
	Cost or valuation
	At 1 February 2025							19,936,468
	Additions							694,815
	Revaluation							315,334
	Disposals							(89,156)
	At 31 January 2026							20,857,461

	Depreciation
	At 1 February 2025							1,111,268
	Charge for the year							240,321
	Revaluation							147,109
	On disposals							(83,474)
	At 31 January 2026							1,415,224

	Carrying amount
	At 31 January 2026							19,442,237
	At 31 January 2025							18,825,200

						2026		2025
£							£
	Carrying amount of land and buildings on cost basis					9,979,554		9,530,516


	Between 20 May 2026 and 22 May 2026 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 2026 and are satisfied that the valuations undertaken by Lambert Smith Hampton remain unchanged. The valuations incorporated into the accounts amounted to £6,840,000 for the Victoria Hotel, Bamburgh, £1,790,000 for Point Cottages, Bamburgh, £3,700,000 for the Manor House Hotel and Spa, West Auckland and £1,880,000 for the Honest Lawyer Hotel at Croxdale. On 22 May 2026 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 2026 and are satisfied that the valuations undertaken remain unchanged. The valuations amounted to £2,250,000. The carrying value of Centurion Park Golf Club at 31 January 2026 is £2,755,286. 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.

						2026		2025
£							£
	Carrying value of assets included above held under finance leases and hire purchase contracts					145,583		88,142

	Company	Freehold land and buildings		Fixtures, equip & soft furnishings		Motor vehicles		Total
		At valuation		At valuation		At cost
£			£		£		£
	Cost or valuation
	At 1 February 2025	13,164,439		1,529,768		97,669		14,791,876
	Additions	244,463		167,311		-		411,774
	Revaluation	154,599		-		-		154,599
	Disposals	-		(17,880)		(70,686)		(88,566)
	At 31 January 2026	13,563,501		1,679,199		26,983		15,269,683

	Depreciation
	At 1 February 2025	89,918		593,912		80,214		764,044
	Charge for the year	-		137,669		3,236		140,905
	Revaluation	207,303		-		-		207,303
	On disposals	-		(17,880)		(65,379)		(83,259)
	At 31 January 2026	297,221		713,701		18,071		1,028,993

	Carrying amount
	At 31 January 2026	13,266,280		965,498		8,912		14,240,690
	At 31 January 2025	13,074,521		935,856		17,455		14,027,832


						2026		2025
£							£
	Carrying amount of land and buildings on cost basis					8,543,446		8,298,983


	Between 20 May 2026 and 22 May 2026 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 2026 and are satisfied that the valuations undertaken by Lambert Smith Hampton remain unchanged. The valuations incorporated into the accounts amounted to £6,840,000 for the Victoria Hotel, Bamburgh, £1,790,000 for Point Cottages, Bamburgh, £3,700,000 for the Manor House Hotel and Spa, West Auckland and £1,880,000 for the Honest Lawyer Hotel at Croxdale.

						2026		2025
£							£
	Carrying value of motor vehicles included above held under finance leases and hire purchase contracts					29,853		9,761


10	(Loss)/gain on revaluation of land and buildings

	On 31 January 2026 a valuation of The Honest Lawyer Hotel, Croxdale was recognised as per the note above. The recognition of this valuation required a further reduction of the book value below historical cost. In accordance with FRS102 this reduction of £207,303 was recognised in the Profit and Loss account in the year ended 31 January 2026. 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. In the year ended 31 January 2025 a valuation of the Honest Lawyer Hotel, Croxdale was recognised, which required a reduction of book value below historical cost of £89,918 which was recognised in the Profit and Loss account. At the same time a valuation of the Manor House Hotel, West Auckland was recognised, which reversed a previous amount recognised in the Profit and Loss account of £115,259.


11	Investments

	Group							Investments in
associated
undertakings
£
	Cost
	At 1 February 2025							100,000
	At 31 January 2026							100,000

	Company							Investments in
subsidiary
undertakings
£
	At 1 February 2025							4,006,095
	Additions							1,190,939
	Revaluation							466,147

	At 31 January 2026							5,663,181

	Historical cost
	At 31 January 2026							1,426,958
	At 31 January 2025							236,019

	The investment in Keeping Inn Limited is shown as a value of 100% of the net assets at 31 January 2026.

	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		100		5,663,181		174,024


12	Stocks	Group				Company
		2026		2025		2026		2025
£			£		£		£

	Raw materials and consumables	60,416		63,504		34,417		36,713


13	Debtors	Group				Company
		2026		2025		2026		2025
£			£		£		£

	Trade debtors	44,990		17,781		30,365		13,514
	Amounts owed by undertakings in which the group has a participating interest	462,122		462,088		-		-
	Prepayments and accrued income	73,882		243,451		52,045		60,105
		580,994		723,320		82,410		73,619


14	Creditors: amounts falling due within one year	Group				Company
	Creditors: amounts falling due within one year	2026		2025		2026		2025
£			£		£		£

	Bank overdrafts	477,651		164,080		74,992		47,278
	Bank loans	402,207		409,239		344,103		349,908
	Other loans	9,832		31,045		9,832		31,045
	Obligations under finance lease and hire purchase contracts	33,300		29,799		9,351		4,924
	Trade creditors	284,196		235,247		206,058		163,440
	Amounts owed to group undertakings	-		-		2,082,583		1,801,445
	Corporation tax	290,287		266,878		146,738		81,453
	Other taxes and social security costs	441,516		431,319		311,998		294,667
	Directors' accounts	971,039		416,501		971,039		416,501
	Other creditors	839,278		669,978		775,227		565,322
		3,749,306		2,654,086		4,931,921		3,755,983


15	Creditors: amounts falling due after one year	Group				Company
	Creditors: amounts falling due after one year	2026		2025		2026		2025
£			£		£		£

	Bank loans	4,505,129		4,857,569		3,850,289		4,152,348
	Other loans	-		9,879		-		9,879
	Obligations under finance lease and hire purchase contracts	32,409		15,568		16,043		4,654
		4,537,538		4,883,016		3,866,332		4,166,881


16	Loans	Group				Company
		2026		2025		2026		2025
£			£		£		£

	Loans not wholly repayable within five years:
	Repayable over 20 years, Interest charged at 2.75% over SONIA	4,864,103		5,266,808		4,157,370		4,502,256

	Analysis of maturity of debt:
	Within one year or on demand	402,207		436,686		344,103		377,355
	Between one and two years	358,974		367,431		307,081		315,536
	Between two and five years	1,076,923		1,076,927		921,246		921,243
	After five years	3,069,232		3,426,688		2,621,962		2,929,046
		4,907,336		5,307,732		4,194,392		4,543,180

	Security has been given by the company to secure £4,864,103 (2025: £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.


17	Obligations under finance leases and hire purchase contracts	Group				Company
		2026		2025		2026		2025
		£	£		£		£

	Amounts payable:
	Within one year	33,300		29,799		9,351		4,924
	Within two to five years	32,409		15,568		16,043		4,654
		65,709		45,367		25,394		9,578

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


18	Deferred taxation	Group				Company
		2026		2025		2026		2025
£			£		£		£

	Revaluation of land and buildings	1,918,965		1,918,965		1,356,811		1,356,811
	Accelerated capital allowances	413,089		304,009		283,032		234,862
		2,332,054		2,222,974		1,639,843		1,591,673

	Deferred tax has been calculated using the rate expected to apply when the tax becomes chargeable, which is 25% (2025: 25%)

		Group				Company
		2026		2025		2026		2025
£			£		£		£

	At 1 February 2025	2,222,974		1,986,657		1,591,673		1,374,372
	Charged to the profit and loss account	15,198		13,725		9,520		19,209
	Charged to other comprehensive income	93,882		222,592		38,650		198,092

	At 31 January 2026	2,332,054		2,222,974		1,639,843		1,591,673



19	Share capital					Group & Company
Nominal				2026		2026		2025
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		222,644		222,644		214,135
	A Ordinary shares	£1 each		6,189		6,189		-
						228,833		214,135


20	Share premium					Group & Company
						2026		2025
£							£

	At 1 February 2025					74,637		74,637
	Shares issued					536,499		-

	At 31 January 2026					611,136		74,637

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


21	Other reserves	Group				Company
		2026		2025		2026		2025
	Revaluation reserve	£	£		£		£

	At 1 February 2025	3,382,895		2,622,734		5,110,762		4,238,062
	Gain on revaluation of leasehold land and buildings	220,929		254,565		-		-
	Gain on revaluation of freehold land and buildings	154,599		817,407		154,599		817,407
	Gain on revaluation of fixed asset investment	-		-		466,147		253,385
	Deferred taxation arising on the revaluation of land and buildings	(93,882)		(222,592)		(38,650)		(198,092)
	Transfer of realised profit	(35,333)		(31,703)		-		-
	Non controlling interest in Other Comprehensive income	-		(57,516)		-		-

	At 31 January 2026	3,629,208		3,382,895		5,692,858		5,110,762

	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.


22	Profit and loss account	Group				Company
		2026		2025		2026		2025
£			£		£		£

	At 1 February 2025	5,187,719		5,009,270		3,275,741		3,221,231
	Profit for the financial year	113,671		367,136		22,408		274,900
	Transfer of realised profit	35,333		31,703		-		-
	Reserve transfer on acquisition of shares	25,076		-
	Dividends	(177,866)		(220,390)		(177,866)		(220,390)

	At 31 January 2026	5,183,933		5,187,719		3,120,283		3,275,741

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


23	Non controlling interests					Group
						2026		2025
£							£

	At 1 February 2025					1,151,254		1,078,192
	Paid for minority interest stake					(1,190,939)		-
	Profit for the financial year					82,761		30,746
	Other comprehensive income					-		57,516
	Reserve transfer on acquisition of shares					(25,076)		-
	Dividends paid to Non controlling interests					(18,000)		(15,200)

	At 31 January 2026					-		1,151,254


24	Dividends	Group				Company
		2026		2025		2026		2025
£			£		£		£

	Dividends on ordinary shares (note 22)	177,866		220,390		177,866		220,390



25	Reconciliation of movement in net debt

		1 February 2025	Cash flows			Non-cash changes		31 January 2026
£			£		£		£

	Cash at bank and in hand	58,692		29,669				88,361
	Overdrafts	(164,080)		(313,571)				(477,651)
				(283,902)

	Debt due within 1 year	(440,284)		418,990		(390,745)		(412,039)
	Debt due after 1 year	(4,867,448)		(28,426)		390,745		(4,505,129)
	Finance leases	(45,367)		398		(20,740)		(65,709)
				390,962

	Total	(5,458,487)		107,060		(20,740)		(5,372,167)


26	Events after the reporting date

	On 2 July 2026 the STR Enterprises Limited group refinanced its HSBC debt as per note 16 with NatWest. The new facility is for 25 years and incurs interest at 2% over the Bank of England base rate.


27	Related party transactions					2026		2025
£							£
	Keeping Inn Limited (Registered in England Co. No. 03303284)
	Subsidiary company
	Management charges received during year					72,000		286,500
	Due to Keeping Inn Limited at year end					(2,082,583)		(1,801,445)
	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					(878,205)		(302,462)
	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		22,151
	Harrison Golf & Leisure Limited (registered in England Co. No. 11425291)
	Associate company
	Due from Harrison Golf & Leisure Limited at the year end					462,088		462,088
	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					(104,334)		(111,827)
	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					5,878		294
	R A Sanderson
	Director
	Interest free loan with no fixed date for repayment
	Due to R A Sanderson at the year end					726		(2,506)

	During the year the group purchased services totalling £30,000 (2025: £13,333) 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 £12,000 (2025 £Nil). All transactions were undertaken on an arms length basis.

	On 25 November 2025, the company purchased the remaining 25% of Keeping Inn Limited, its subsidiary company, as follows: 1,448 £0.01 Ordinary Shares in Keeping Inn Limited were purchased from J T Sanderson, director, for £608,797 2,242 £1 Ordinary Shares were issued to E A Sanderson, director, in exchange for 200 £0.01 Ordinary Shares of Keeping Inn Limited. 1,121 £1 Ordinary Shares each were issued to J J Sanderson, C S Sanderson and R A Sanderson, directors, in exchange for 100 £0.01 Ordinary Shares each of Keeping Inn Limited. 2,904 £1 Ordinary Shares were issued to the STR Enterprises Family Pension Scheme, of which the directors are trustees, in exchange for 259 £0.01 Ordinary Shares of Keeping Inn Limited. 6,189 £1 A Ordinary Shares were issued to the Sanderson Family Life Interest Settlement, of which J T Sanderson and E A Sanderson are trustees, in exchange for 552 £0.01 A Ordinary Shares of Keeping Inn Limited. The shares of Keeping Inn Limited had been independently valued at £420.44 per share.


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