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Registered number: 11397930
Valtchev Group Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
E Johnson & Associates Ltd
637 Green Lanes
London
N8 0RE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11397930
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 22,192 11,595
22,192 11,595
CURRENT ASSETS
Debtors 5 7,403 20,147
Cash at bank and in hand 2,178 6,944
9,581 27,091
Creditors: Amounts Falling Due Within One Year 6 (71,722 ) (43,820 )
NET CURRENT ASSETS (LIABILITIES) (62,141 ) (16,729 )
TOTAL ASSETS LESS CURRENT LIABILITIES (39,949 ) (5,134 )
Creditors: Amounts Falling Due After More Than One Year 7 (18,551 ) (17,768 )
NET LIABILITIES (58,500 ) (22,902 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (58,600 ) (23,002 )
SHAREHOLDERS' FUNDS (58,500) (22,902)
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For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr S B Valtchev
Director
26th March 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Valtchev Group Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11397930 . The registered office is 60 Coniston House Wyndham Road, London, SE5 0UG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared on the going concern basis. This assumes that the company will continue in operational existence for the foreseeable future.
At the balance sheet date, the company's liabilities for the period from 1 July 2023 to 30 June 2024 exceed its assets. The director of the company has sought assurance from the creditors that their debts will not be called in within the next twelve months.
The director has been therefore deemed it appropriate that the financial statements be prepared on the going concern basis.
2.2. 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 goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% on reducing balance
Computer Equipment 25% on reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 6)
4 6
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4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 July 2023 17,634 3,218 20,852
Additions 17,994 - 17,994
As at 30 June 2024 35,628 3,218 38,846
Depreciation
As at 1 July 2023 7,715 1,542 9,257
Provided during the period 6,978 419 7,397
As at 30 June 2024 14,693 1,961 16,654
Net Book Value
As at 30 June 2024 20,935 1,257 22,192
As at 1 July 2023 9,919 1,676 11,595
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 3,579 3,326
Other debtors 3,824 16,821
7,403 20,147
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 6,869 4,037
Trade creditors 15,580 11,094
Bank loans and overdrafts 4,800 4,800
Other creditors 22,032 4,728
Taxation and social security 22,441 19,161
71,722 43,820
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 14,151 8,568
Bank loans 4,400 9,200
18,551 17,768
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8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,869 4,037
Later than one year and not later than five years 14,151 8,568
21,020 12,605
21,020 12,605
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
10. Related Party Transactions
During the year, no dividend was paid to the director.
11. Ultimate Controlling Party
The company's ultimate controlling party is Mr S B Valtchev by virtue of his ownership of 100% of the issued share capital in the company.
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