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Registration number: 11010468

SLIP LIMITED
Unaudited Filleted Abridged Financial Statements
for the Period from 1 April 2025 to 30 September 2025

SLIP LIMITED

Contents

Abridged Statement of Financial Position | 1 to 2
Notes to the Unaudited Abridged Financial Statements | 3 to 6

SLIP LIMITED

(Registration number: 11010468)
Abridged Statement of Financial Position as at 30 September 2025

| Note | 2025 £ | 2025 £
Current assets |  |  |  |  |
Debtors | 4 |  | 1,425 |  | 100
Cash at bank and in hand |  |  | 161 |  | -
|  |  | 1,586 |  | 100
Prepayments and accrued income |  |  | 353 |  | -
Total assets less current liabilities |  |  | 1,939 |  | 100
Creditors: Amounts falling due after more than one year |  |  | (2,945) |  | -
Accruals and deferred income |  |  | (360) |  | -
Net (liabilities)/assets |  |  | (1,366) |  | 100
Capital and reserves |  |  |  |  |
Called up share capital | 5 | 100 |  | 100 |
Retained earnings |  | (1,466) |  | - |
Shareholders' (deficit)/funds |  |  | (1,366) |  | 100

SLIP LIMITED

(Registration number: 11010468)
Abridged Statement of Financial Position as at 30 September 2025

For the financial period ending 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Statement of Financial Position in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 10 October 2025

......................................... Mr M Sparrow Director

SLIP LIMITED

Notes to the Unaudited Abridged Financial Statements for the Period from 1 April 2025 to 30 September 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Barn, Bridge Farm
Whitchurch Canonicorum
Cardsmill Lane
Bridport
Dorset
DT6 6RW
United Kingdom

These financial statements were authorised for issue by the director on 10 October 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
The presentation currency is (£) sterling.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company has net liabilities of £1,366 at the year end. The director believes there is no reason that the company will have to cease trading as a result of inadequate financial resources, or any foreseeable event, within a period of at least 12 months. The director confirms that he will not seek any return or withdraw further against his loan until funds permit. The director will continue to introduce sufficient cash to fund the company's working capital in order that the company can continue to meet its liabilities as they fall due. The company has the continued support of its bank and is meeting its liabilities as they fall due.
On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

SLIP LIMITED

Notes to the Unaudited Abridged Financial Statements for the Period from 1 April 2025 to 30 September 2025

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

SLIP LIMITED

Notes to the Unaudited Abridged Financial Statements for the Period from 1 April 2025 to 30 September 2025

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2025 - 1).

4 | Debtors

| 2025 £ | 2025 £
Other debtors | 1,425 | 100
| 1,425 | 100

5 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2025
| No. | £ | No. | £
Ordinary of £0.00 each | 1,000,000 | 100 | 1,000,000 | 100

SLIP LIMITED

Notes to the Unaudited Abridged Financial Statements for the Period from 1 April 2025 to 30 September 2025

6 | Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position is £13,650 (2025 - £Nil). The business has committed to a commercial property lease with the minimum commitment at the year end being £13,650.

7 | Related party transactions

Transactions with the director

2025 | At 1 April 2025 £ | Repayments by director £ | Other payments made to company by director £ | At 30 September 2025 £
Mr M Sparrow
Directors loan account | - | (3,045) | 100 | (2,945)

During the year Mr S Sparrow maintained a loan account with the company. The balance owed by the company at 30 September 2025 was £2,945. The maximum amount outstanding to the company during the year was £0. Beneficial loan interest has been charged at HMRC's office rate for periods when the account has been overdrawn. There are no fixed repayment terms and this loan is included in other creditors/borrowings due greater than one year at the year end.