Let me answer this question by a question:
Why was grammar invented?
In British Slang, a "woof" is a male homosexual.
According to BritishSlangs, "Piggy Bank", is actually British slang.
"spot on" ?
Labtop
Nicked
poof
Codswallop is British slang for excuses or lies. For example: 'Your dog ate your homework? What a load of codswallop!'
"Raster blaster" would be one British slang term for a stereo. That is related to the American term of "ghetto blaster" or "boom box." A "rattlehead" is British slang for someone who listens to a personal stereo in public.
Bee's knees is British slang for 'fabulous!'. For example: 'Cor ol'chap, that meal was the bee's knees!'
In British slang, a quid is equivalent to one pound sterling. It is a slang term commonly used to refer to money in the UK.
An alcoholic.
It is british slang for Having sex.