Cadet beat me to it and said it better and kinder than i would have.
You learned, but you did it the hard way, you just sacrificed your self respect and your friend's respect towards you for what might amount to a gamble of something that would have ended up in one of two ways.
1. You beat the dogshit out of whatever the fuck a Chav is. You gain mad respect from your friends for handling your shit.
2. You get the dogshit beat out of you by whatever the fuck a chav is. You gain mad respect from your friends for not being a pussy.
Also i'm going to copy and paste something i wrote in another forum that pertains to this.
TL;DR = lol, you petered out
i'd do it slightly differently
1. break his jaw so he cant talk shit anymore
2. if he tries to hit back shatter his wrist
3. crush his nose with a preferably right jab (or left if its your better hand)
and if his friends are about to jump in, throat punch the fucker and elbow him in the face for good measure.