Registered number
07255315
Bulgaro Limited
Unaudited Filleted Accounts
31 May 2024
Bulgaro Limited
Registered number: 07255315
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,417,376 1,392,610
Current assets
Stocks 490,393 496,000
Debtors 4 136,465 250,687
Cash at bank and in hand 4,617 12,450
631,475 759,137
Creditors: amounts falling due within one year 5 (610,735) (733,403)
Net current assets 20,740 25,734
Total assets less current liabilities 1,438,116 1,418,344
Creditors: amounts falling due after more than one year 6 (203,463) (218,303)
Net assets 1,234,653 1,200,041
Capital and reserves
Called up share capital 370,000 370,000
Profit and loss account 864,653 830,041
Shareholders' funds 1,234,653 1,200,041
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D V Rizov
Director
Approved by the board on 14 May 2025
Bulgaro Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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 in respect of long-term contracts and contracts for on-going services, represents the value of work done during the year, including estimates of amounts not invoiced.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than 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:
Plant and machinery 10% Reducing balance
Motor Vehicles 15% Reducing balance
Leasehold Improvements Over 20 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. 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 and liabilities 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 30 26
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 June 2023 592,316 1,924,371 55,831 2,572,518
Additions - 97,766 75,164 172,930
At 31 May 2024 592,316 2,022,137 130,995 2,745,448
Depreciation
At 1 June 2023 168,342 968,441 43,125 1,179,908
Charge for the year 29,615 105,369 13,180 148,164
At 31 May 2024 197,957 1,073,810 56,305 1,328,072
Net book value
At 31 May 2024 394,359 948,327 74,690 1,417,376
At 31 May 2023 423,974 955,930 12,706 1,392,610
4 Debtors 2024 2023
£ £
Trade debtors 136,465 250,687
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 224,886 387,225
Obligations under finance lease and hire purchase contracts 75,350 75,350
Trade creditors 96,649 40,604
Taxation and social security costs 147,494 227,119
Other creditors 66,356 3,105
610,735 733,403
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 173,775 185,837
Obligations under finance lease and hire purchase contracts 29,688 32,466
203,463 218,303
7 Controlling party
The ultimate controlling parties are D V Rizov and V Rizova, the company directors.
8 Other information
Bulgaro Limited is a private company limited by shares and incorporated in England. Its registered office is:
318 Broadway
Bexleyheath
DA6 8AA
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