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Company Registration No. 10496482 (England and Wales)
Martin Nenchev Limited Unaudited accounts for the year ended 30 November 2021
Martin Nenchev Limited Unaudited accounts Contents
Page
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Martin Nenchev Limited Company Information for the year ended 30 November 2021
Director
Mr Martin Nenchev
Company Number
10496482 (England and Wales)
Registered Office
Ground Floor, 24 Church Street Maidstone ME14 1EN
Accountants
Prody Books Ltd 421 Willington Street Maidstone Kent ME15 8HD
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Martin Nenchev Limited Statement of financial position as at 30 November 2021
2021 
2020 
Notes
£ 
£ 
Fixed assets
Tangible assets
251 
335 
Current assets
Debtors
153 
1,286 
Cash at bank and in hand
3,086 
3,591 
3,239 
4,877 
Creditors: amounts falling due within one year
(4,604)
(2,582)
Net current (liabilities)/assets
(1,365)
2,295 
Net (liabilities)/assets
(1,114)
2,630 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(1,115)
2,629 
Shareholders' funds
(1,114)
2,630 
For the year ending 30 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 12 August 2022 and were signed on its behalf by
Mr Martin Nenchev Director Company Registration No. 10496482
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Martin Nenchev Limited Notes to the Accounts for the year ended 30 November 2021
1
Statutory information
Martin Nenchev Limited is a private company, limited by shares, registered in England and Wales, registration number 10496482. The registered office is Ground Floor, 24 Church Street, Maidstone, ME14 1EN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% reducing balance
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Martin Nenchev Limited Notes to the Accounts for the year ended 30 November 2021
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 December 2020
550 
At 30 November 2021
550 
Depreciation
At 1 December 2020
215 
Charge for the year
84 
At 30 November 2021
299 
Net book value
At 30 November 2021
251 
At 30 November 2020
335 
5
Debtors: amounts falling due within one year
2021 
2020 
£ 
£ 
Other debtors
153 
1,286 
6
Creditors: amounts falling due within one year
2021 
2020 
£ 
£ 
Loans from directors
4,064 
1,902 
Accruals
540 
680 
4,604 
2,582 
7
Share capital
2021 
2020 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
8
Transactions with related parties
Dividends totaling NIL ( 2020 - £ NIL ) were paid in the year in respect of shares held by the company's director.
9
Average number of employees
During the year the average number of employees was 2 (2020: 2).
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