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Registered number: 08974806
Slatters Development Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
ChadSan Limited
Castle House
Castle Street
Guildford
GU1 3UW
Slatters Development Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—6

Page 1
Slatters Development Limited
Balance Sheet
As At 31 December 2024
Balance Sheet
Registered number: 08974806

| 2024 | 2023
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | 20,410,315 |  | 20,491,531
|  |  | 20,410,315 |  | 20,491,531
CURRENT ASSETS
Stocks | 5 | 9,538 |  | 11,253 |
Debtors | 6 | 821,933 |  | 577,608 |
Cash at bank and in hand |  | 1,071,616 |  | 948,552 |
|  | 1,903,087 |  | 1,537,413 |
Creditors: Amounts Falling Due Within One Year | 7 | (12,289,672 ) |  | (10,895,999 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | (10,386,585 ) |  | (9,358,586 )
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 10,023,730 |  | 11,132,945
Creditors: Amounts Falling Due After More Than One Year | 8 |  | (13,394,836 ) |  | (13,483,151 )
NET LIABILITIES |  |  | (3,371,106 ) |  | (2,350,206 )
CAPITAL AND RESERVES
Called up share capital | 10 |  | 15,000 |  | 15,000
Revaluation reserve | 12 |  | 705,656 |  | 705,656
Profit and Loss Account |  |  | (4,091,762 ) |  | (3,070,862 )
SHAREHOLDERS' FUNDS |  |  | (3,371,106) |  | (2,350,206)

Page 1
Page 2
Slatters Development Limited
Balance Sheet (continued)
As At 31 December 2024
For the year ending 31 December 2024 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 Zaw Htut Director
5th September 2025

The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Slatters Development Limited
Notes to the Financial Statements
For The Year Ended 31 December 2024
Notes to the Financial Statements
1. General Information
Slatters Development Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08974806 . The registered office is 3rd Floor, 1 Ashley Road, Altrincham, Cheshire, WA14 2DT.
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. 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
Plant and machinery is measured at fair value determined annually via third party revaluation.
Fixtures and fittings are held at cost less depreciation.
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:

Plant & Machinery | Varying rates
Fixtures & Fittings | 25% 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.
Page 3
Page 4
Slatters Development Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Financial Instruments
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.
2.7. Impairment of Fixed Assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indiciation that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 34)
3 34
4. Tangible Assets

| Plant & Machinery | Fixtures & Fittings | Total
--- | --- | --- | ---
| £ | £ | £
Cost
As at 1 January 2024 | 20,166,667 | 564,028 | 20,730,695
As at 31 December 2024 | 20,166,667 | 564,028 | 20,730,695
Depreciation
As at 1 January 2024 | - | 239,164 | 239,164
Provided during the period | - | 81,216 | 81,216
As at 31 December 2024 | - | 320,380 | 320,380

...CONTINUED
Page 4
Page 5
Slatters Development Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024

Net Book Value
As at 31 December 2024 | 20,166,667 | 243,648 | 20,410,315
As at 1 January 2024 | 20,166,667 | 324,864 | 20,491,531

5. Stocks

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Stock | 9,538 |  | 11,253

6. Debtors

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 153,662 |  | 43,296
Amounts owed by group undertakings | 7,291 |  | 7,291
Other debtors | 660,980 |  | 527,021
| 821,933 |  | 577,608

7. Creditors: Amounts Falling Due Within One Year

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Trade creditors | 179,414 |  | 63,583
Other creditors | 11,838,112 |  | 10,758,875
Taxation and social security | 272,146 |  | 73,541
| 12,289,672 |  | 10,895,999

8. Creditors: Amounts Falling Due After More Than One Year

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Net obligations under finance lease and hire purchase contracts | 6,832,000 |  | 6,888,000
Bank loans | 6,562,836 |  | 6,595,151
| 13,394,836 |  | 13,483,151

9. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured by way of fixed and floating charges over the leasehold property 7-10 Margaret's St Canterbury:

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Bank loans and overdrafts | 6,562,836 |  | 6,562,836

Page 5
Page 6
Slatters Development Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
10. Share Capital

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 15,000 |  | 15,000

11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:

| As at 1 January 2024 | Amounts advanced | Amounts repaid | Amounts written off | As at 31 December 2024
--- | --- | --- | --- | --- | ---
| £ | £ | £ | £ | £
Mr Michael Wood | 46,642 | 1,050 | - | (1,365) | 46,327
Mr Zaw Htut | 46,642 | 1,050 | - | (1,300) | 46,392

The above loan is unsecured, interest bearing at the HMRC offical rate and repayable on demand.
12. Reserves

| Revaluation Reserve
--- | ---
| £
As at 1 January 2024 | 705,656
As at 31 December 2024 | 705,656

13. Related Party Transactions
During the year the company made purchases totalling £27,422 (2023: £13,351) from entities under the control of the directors.
At the balance sheet date the amount owed by group undertakings was £7,291 (2023: 7,291).
14. Controlling Party
The company has no controlling party.
15. Going Concern
As at the balance sheet date the company has net liabilities. These financial statements have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to support the company for the foreseeable future.
Page 6