Levski published its financial report for the year 2023, which was made by December 31. The club reported a profit in the amount of BGN 2,215,000, but despite this, the Company’s registered capital (BGN 30,787,000) exceeds its net assets, which amount to BGN 1,535,000.
In addition, a requirement of the Commercial Law has been violated. “These circumstances give rise to material uncertainty about the Company’s ability to continue as a going concern,” the Blues’ financial report said.
The management has expressed confidence that PFC Levski will maintain normal operations, through financial support of the main shareholders, in case of need.
Here is what the club wrote:
“Dear Leftists,
we bring to your attention the Annual Financial Statements for the year ending on 31.12.2023, as well as the Report of the independent auditor “Zhelyazkov Audit 2004 OOD”, according to the provision of art. 47a of the National Club Licensing Ordinance, ed. 2023
The annual financial statements for the year ending 31.12.2023 and the independent auditor’s report can be seen in the attached documents.”
Annual-financial-report-according-to-IAS-for-2023.
Report-of-the-independent-auditor-on-the-financial-statement
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