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Registered number: 09438544
P Slaughter Flooring Ltd
Unaudited Financial Statements
For The Year Ended 28 February 2025
Brisan Accountancy Ltd
Canada House, First Floor, 20/20 Business Park
Maidstone
Kent
ME16 0LS
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—7
Page 1
Balance Sheet
Registered number: 09438544
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 11,420 16,027
11,420 16,027
CURRENT ASSETS
Debtors 5 40,429 83,169
Cash at bank and in hand 16,503 38,112
56,932 121,281
Creditors: Amounts Falling Due Within One Year 6 (49,549 ) (80,992 )
NET CURRENT ASSETS (LIABILITIES) 7,383 40,289
TOTAL ASSETS LESS CURRENT LIABILITIES 18,803 56,316
Creditors: Amounts Falling Due After More Than One Year 7 (13,104 ) (28,076 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (2,189 ) (3,116 )
NET ASSETS 3,510 25,124
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account 3,508 25,122
SHAREHOLDERS' FUNDS 3,510 25,124
Page 1
Page 2
For the year ending 28 February 2025 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 directors acknowledge their 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 Philip Slaughter
Director
Mrs Samantha Slaughter
Director
2 May 2025
The notes on pages 4 to 7 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 March 2023 2 15,521 15,523
Profit for the year and total comprehensive income - 86,501 86,501
Dividends paid - (76,900) (76,900)
As at 28 February 2024 and 29 February 2024 2 25,122 25,124
Profit for the year and total comprehensive income - 37,226 37,226
Dividends paid - (58,840) (58,840)
As at 28 February 2025 2 3,508 3,510
Page 3
Page 4
Notes to the Financial Statements
1. General Information
P Slaughter Flooring Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09438544 . The registered office is White Villa, 100a Grand Avenue, Lancing, West Sussex, BN15 9QB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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.
2.4. 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% Reducing balance
Computer Equipment 33% Straight Line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and 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.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 29 February 2024 36,245 4,702 40,947
As at 28 February 2025 36,245 4,702 40,947
Depreciation
As at 29 February 2024 21,459 3,461 24,920
Provided during the period 3,697 910 4,607
As at 28 February 2025 25,156 4,371 29,527
Net Book Value
As at 28 February 2025 11,089 331 11,420
As at 29 February 2024 14,786 1,241 16,027
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2025 2024
£ £
Motor Vehicles 8,286 14,786
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5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 22,212 49,066
Prepayments and accrued income 16,217 27,672
Other debtors 2,000 3,000
VAT - 1,830
Other taxes and social security - 1,601
40,429 83,169
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 4,605 4,454
Trade creditors 13,257 33,549
Bank loans and overdrafts 10,224 9,912
Corporation tax 9,530 27,451
Other taxes and social security 1,361 -
VAT 5,454 -
Accruals and deferred income 5,118 5,620
Directors' loan accounts - 6
49,549 80,992
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 5,111 9,716
Bank loans 7,993 18,360
13,104 28,076
8. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 5,385 5,735
Later than one year and not later than five years 5,385 10,770
10,770 16,505
Less: Finance charges allocated to future periods 1,054 2,335
9,716 14,170
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2025 2024
£ £
Other timing differences 2,189 3,116
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10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 2 2
11. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans due to directors:
As at 29 February 2024 Amounts advanced Amounts repaid Amounts written off As at 28 February 2025
£ £ £ £ £
Mr Philip Slaughter 6 10,184 10,178 - -
The above loan is unsecured, interest free, repayable on demand and ranks equally with other unsecured creditors of the company.
12. Ultimate Controlling Party
The company's ultimate controlling party is the directors by virtue of their ownership of 100% of the issued share capital in the company.
Page 7