Blue Valley Resort Limited

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 8

Blue Valley Resort Limited

(Registration number: 11458598)
Statement of Financial Position as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	118,444	9,741
Investment property	5	6,298,246	5,700,000
		6,416,690	5,709,741
Current assets
Debtors	6	838,869	638,105
Cash at bank and in hand		457	10
		839,326	638,115
Creditors: Amounts falling due within one year	7	(5,277,387)	(4,332,861)
Net current liabilities		(4,438,061)	(3,694,746)
Total assets less current liabilities		1,978,629	2,014,995
Creditors: Amounts falling due after more than one year	7	(40,922)	(49,922)
Provisions for liabilities		(543,504)	(543,504)
Net assets		1,394,203	1,421,569
Capital and reserves
Called up share capital		1	1
Revaluation reserve		708,605	708,605
Profit and loss account		685,597	712,963
Shareholders' funds		1,394,203	1,421,569

Blue Valley Resort Limited

(Registration number: 11458598)
Statement of Financial Position as at 31 December 2024 (continued)

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 23 December 2025 and signed on its behalf by:
 

S J Hicks Director

Blue Valley Resort Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Leycroft Valley Resort
Perrancoombe
Perranporth
Cornwall
TR6 0JQ
England

Principal activity

The principal activity of the company is that of other holiday and other collective accommodation.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Blue Valley Resort Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	25% reducing balance
Computers	25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Blue Valley Resort Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

Blue Valley Resort Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

4	Tangible assets

	Fixtures and fittings £	Computers £	Total £
Cost or valuation
At 1 January 2024	12,787	3,631	16,418
Additions	148,185	-	148,185
At 31 December 2024	160,972	3,631	164,603
Depreciation
At 1 January 2024	5,466	1,211	6,677
Charge for the year	38,877	605	39,482
At 31 December 2024	44,343	1,816	46,159
Carrying amount
At 31 December 2024	116,629	1,815	118,444
At 31 December 2023	7,321	2,420	9,741

5	Investment properties

	2024 £
At 1 January	5,700,000
Additions	461,306
Improvements	136,940
At 31 December	6,298,246

Investment property comprises of Leycroft Valley, Cornwall. The fair value of the land has been arrived at on the basis of valuations carried out in current and previous years on an open market basis.

Blue Valley Resort Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

6

Debtors

	2024 £	2023 £
Amounts owed by related parties	552,008	624,678
Other debtors	285,884	12,450
Income tax asset	977	977
	838,869	638,105

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Loans and borrowings	9	9,000	-
Trade creditors		112,147	108,940
Amounts owed to group undertakings and undertakings in which the company has a participating interest		5,148,484	4,218,165
Accruals and deferred income		6,693	4,693
Other creditors		1,063	1,063
		5,277,387	4,332,861

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Loans and borrowings	9	40,922	49,922

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

	Revaluation reserve £	Total £
Surplus/deficit on property, plant and equipment revaluation	(49,236)	(49,236)

Profit and loss account:

This reserve records retained earnings and accumulated losses.

Blue Valley Resort Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

9	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Other borrowings	40,922	49,922

Current loans and borrowings

	2024 £	2023 £
Other borrowings	9,000	-

10	Parent and ultimate parent undertaking

The company's immediate parent is Valley Resorts Limited, incorporated in England and Wales.

  These financial statements are available upon request from Companies House.