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REGISTERED NUMBER: 01644542 (England and Wales)















Strategic Report, Report of the Directors and

Audited Financial Statements for the Year Ended 31 October 2017

for

Abbey Forged Products Limited

Abbey Forged Products Limited (Registered number: 01644542)






Contents of the Financial Statements
for the Year Ended 31 October 2017




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 7

Income Statement 9

Other Comprehensive Income 10

Statement of Financial Position 11

Statement of Changes in Equity 12

Notes to the Financial Statements 13


Abbey Forged Products Limited

Company Information
for the Year Ended 31 October 2017







DIRECTORS: Mrs J M Neal
R S Neal
J S Neal





SECRETARY: Mrs J M Neal





REGISTERED OFFICE: Beeley Wood Works
Beeley Wood Lane
Sheffield
South Yorkshire
S6 1ND





REGISTERED NUMBER: 01644542 (England and Wales)





AUDITORS: Sutton McGrath Hartley
5 Westbrook Court
Sharrowvale Road
Sheffield
South Yorkshire
S11 8YZ

Abbey Forged Products Limited (Registered number: 01644542)

Strategic Report
for the Year Ended 31 October 2017

The directors present their strategic report for the year ended 31 October 2017.

REVIEW OF BUSINESS
The company has seen a modest increase in turnover of approximately 9% but a slight dip in overall profitability due to
tightened margins. Despite this the company has been able to broadly maintain its net asset position. The company
expects to reverse the profitability dip, continue with future turnover growth and continue technological advancements in
line with its expectations.

FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
Risk is present in all businesses. The directors consider the major risks and uncertainties at this point in time are:

1. Product Mix
Commodity-like steel products face higher degrees of competition and are more exposed to price volatility. The
company produces higher value added products that provide above average margins, stable volumes and contribute to a
reduction on relative earnings fluctuations.

2. Raw Material Position
The cost efficiency of the company's operations is highly dependent on the cost and availability of raw materials. The
company does not rely too heavily on one major supplier for raw materials, which gives the company access to readily
available raw materials at competitive prices.

3. Market Volatility
Being that the company operates in the steel industry, its earnings are exposed to cyclical changes to supply and demand,
resulting in price fluctuations which can lead to varied and volatile financial performance. Management have significant
experience in the steel industry which allows them to take a proactive response to cyclical changes in order to reduce the
risk that market volatility has on the company's financial performance.


Abbey Forged Products Limited (Registered number: 01644542)

Strategic Report
for the Year Ended 31 October 2017

PERFORMANCE MONITORING
The board monitors the company's performance in a number of ways including key performance indicators. The key
financial performance indicators for the company are as follows:

2017 2016
£ £
Revenue 23,692,126 21,760,238
Return On Capital Employed 12% 27.1%
Operating Profit per Employee 11,297 30,108
Turnover per Employee 122,124 124,344
Gross Profit Margin 28% 37.2%
Operating Profit Margin 9.3% 24.6%
Current Ratio 1.28:1 1.34:1

The revenue indicator represents the value of goods delivered to customers in the year and measures sales reduction in
value terms.

The return on capital employed indicator represents the value of return to the shareholder in the year through the
activities of the business and measures return in value terms.

The operating profit per employee indicator represents the contribution per employee to overall profit levels and
measures growth per employee in value terms.

The turnover per production employee indicator represents the value of sales output per employee and measures
production efficiency in value terms.

The gross profit margin is calculated by dividing gross profit by revenue and measures the total profitability of product
sales.

The operating profit margin is the profit generated by the company from operations excluding finance and investment
income and costs before taxation. This indicator measures the overall profitability of the business for the year.

The current ratio indicator represents the value of the company's current assets to its current liabilities and measures the
ability of the company to finance its current liabilities from business operations as they fall due.

The board also considers the following key non-financial performance indicators:

1. Customer mix against plans
2. Sales activities measured against results.

These non-financial indicators are reviewed regularly by the board.

ON BEHALF OF THE BOARD:





Mrs J M Neal - Director


13 July 2018

Abbey Forged Products Limited (Registered number: 01644542)

Report of the Directors
for the Year Ended 31 October 2017

The directors present their report with the financial statements of the company for the year ended 31 October 2017.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of dealing in stainless steel.

DIVIDENDS
Particulars of dividends are detailed on note 4 to the financial statements.

FUTURE DEVELOPMENTS
The company plans to return to growth in future years and the directors are focused and confident regarding business
development in the future. The Directors expect their overall general investments within the company to increase the
company's trade and profits in future years.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 November 2016 to the date of this
report.

Mrs J M Neal
R S Neal
J S Neal

FINANCIAL INSTRUMENTS
The company's principal financial instruments comprise of bank balances, trade creditors, trade debtors and loans both
to and from the company.

Due to the nature of the financial instruments used by the company there is no exposure to price risk. The company's
approach to managing other risks applicable to the financial instruments concerned is shown below.

In respect of bank balances the liquidity risk is managed by maintaining a balance in order to ensure all due amounts can
be paid within the deadlines stipulated when credit is taken. The company makes use of additional funds held in excess
of that required for day to day running of the company by investing them in high interest accounts. These have instant
access to ensure money is available where required to meet any day to day demands on cash flow.

In respect of loans to and from the company, these comprise of loans both from and to directors and to employees. The
loans to and from directors and to employees are interest free and payable on demand. The directors are aware of the
company's financial position and would not withdraw funds unless the company had sufficient funds to satisfy the day to
day running of the business.

Trade debtors are managed in respect of credit and cash flow risk by the regular monitoring of amounts outstanding for
time limits.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet the amounts due.

POLITICAL DONATIONS AND EXPENDITURE
During the year the company made charitable donations to the following charities;

The Childrens Hospital Charity - £32,155
The Prince's Trust - £17,375
The Outward Bound Trust - £12,000
Various smaller donations - £8,952

EURO ISSUES
The company's systems are Euro compatible. The company has assessed the situation and does not anticipate any
problems or additional costs if the Euro is introduced in the UK.


Abbey Forged Products Limited (Registered number: 01644542)

Report of the Directors
for the Year Ended 31 October 2017

DIRECTORS INDEMNITY PROVISIONS
The directors have been granted a qualifying third party indemnity provision under Section 234 of the Companies Act
2006. This indemnity does not provide cover in the event of a director being proven to have acted fraudulently or
dishonestly.

EMPLOYEE POLICIES
The company has equal opportunities policies which are applied to job applicants and existing employees.

Full and fair consideration is given to the employment of disabled persons and the company has made, and will continue
to make every effort to retain and assist individuals disabled in the course of their employment and to help with their
rehabilitation.

Employees are made aware of the financial and economic factors affecting the achievements of the company for which
they work and the way in which their personal contributions are of fundamental importance to the further success of the
business.

DISCLOSURE IN THE STRATEGIC REPORT
The directors have chosen to disclose in their strategic report information including a fair review of business in the
period alongside comments surrounding the financial risk management objectives and policies of the entity. This is also
accompanied by a detailed performance monitoring section containing KPI's the directors feel measure the entity most
accurately.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements
in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors
have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting
Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not
approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the
company and of the profit or loss of the company for that period. In preparing these financial statements, the directors
are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will
continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the
company's transactions and disclose with reasonable accuracy at any time the financial position of the company and
enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for
safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud
and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on
the company's website and for following applicable accounting standards.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act
2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have
taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the
company's auditors are aware of that information.

Abbey Forged Products Limited (Registered number: 01644542)

Report of the Directors
for the Year Ended 31 October 2017


AUDITORS
The auditors, Sutton McGrath Hartley, will be proposed for re-appointment at the forthcoming Annual General
Meeting.

ON BEHALF OF THE BOARD:





Mrs J M Neal - Director


13 July 2018

Report of the Independent Auditors to the Members of
Abbey Forged Products Limited

Opinion
We have audited the financial statements of Abbey Forged Products Limited (the 'company') for the year ended
31 October 2017 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position,
Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting
policies. The financial reporting framework that has been applied in their preparation is applicable law and United
Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 October 2017 and of its profit for the year then
ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law.
Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the
financial statements section of our report. We are independent of the company in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard,
and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit
evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to
you where:
- the directors' use of the going concern basis of accounting in the preparation of the financial statements is not
appropriate; or
- the directors have not disclosed in the financial statements any identified material uncertainties that may cast
significant doubt about the company's ability to continue to adopt the going concern basis of accounting for a period
of at least twelve months from the date when the financial statements are authorised for issue.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic
Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors
thereon.

Our opinion on the financial statements does not cover the other information and we do not express any form of
assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing
so, consider whether the other information is materially inconsistent with the financial statements or our knowledge
obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we
conclude that there is a material misstatement of this other information, we are required to report that fact. We have
nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the
financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal
requirements.

Report of the Independent Auditors to the Members of
Abbey Forged Products Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit,
we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you
if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from
branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible
for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such
internal control as the directors determine necessary to enable the preparation of financial statements that are free from
material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a
going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of
accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic
alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs
(UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are
considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic
decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting
Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the
Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those
matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent
permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's
members as a body, for our audit work, for this report, or for the opinions we have formed.




Jonathon Dickens ACA (Senior Statutory Auditor)
for and on behalf of Sutton McGrath Hartley
5 Westbrook Court
Sharrowvale Road
Sheffield
South Yorkshire
S11 8YZ

26 July 2018

Abbey Forged Products Limited (Registered number: 01644542)

Income Statement
for the Year Ended 31 October 2017

2017 2016
Notes £    £    £    £   

TURNOVER 3 23,838,490 21,760,238

Cost of sales 17,069,178 13,659,287
GROSS PROFIT 6,769,312 8,100,951

Administrative expenses 4,431,313 2,741,801
OPERATING PROFIT 5 2,337,999 5,359,150

Income from shares in group undertakings 6 140,000 -
Interest receivable and similar income 24,979 177,575
164,979 177,575
2,502,978 5,536,725

Interest payable and similar expenses 7 - 5,118
PROFIT BEFORE TAXATION 2,502,978 5,531,607

Tax on profit 8 451,413 1,084,082
PROFIT FOR THE FINANCIAL YEAR 2,051,565 4,447,525

Abbey Forged Products Limited (Registered number: 01644542)

Other Comprehensive Income
for the Year Ended 31 October 2017

2017 2016
Notes £    £   

PROFIT FOR THE YEAR 2,051,565 4,447,525


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

2,051,565

4,447,525

Abbey Forged Products Limited (Registered number: 01644542)

Statement of Financial Position
31 October 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 12,861,063 11,599,214
Investments 11 178,547 178,547
Investment property 12 219,631 219,631
13,259,241 11,997,392

CURRENT ASSETS
Stocks 13 508,196 533,662
Debtors 14 15,917,552 11,153,477
Cash at bank and in hand 14,275,855 19,488,871
30,701,603 31,176,010
CREDITORS
Amounts falling due within one year 15 23,971,303 23,256,126
NET CURRENT ASSETS 6,730,300 7,919,884
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,989,541

19,917,276

PROVISIONS FOR LIABILITIES 16 162,066 166,366
NET ASSETS 19,827,475 19,750,910

CAPITAL AND RESERVES
Called up share capital 17 100 100
Retained earnings 18 19,827,375 19,750,810
SHAREHOLDERS' FUNDS 19,827,475 19,750,910

The financial statements were approved by the Board of Directors on 13 July 2018 and were signed on its behalf by:





Mrs J M Neal - Director


Abbey Forged Products Limited (Registered number: 01644542)

Statement of Changes in Equity
for the Year Ended 31 October 2017

Called up
share Retained Total
capital earnings equity
£    £    £   

Balance at 1 November 2015 100 22,353,285 22,353,385

Changes in equity
Dividends - (7,050,000 ) (7,050,000 )
Total comprehensive income - 4,447,525 4,447,525
Balance at 31 October 2016 100 19,750,810 19,750,910

Changes in equity
Dividends - (1,975,000 ) (1,975,000 )
Total comprehensive income - 2,051,565 2,051,565
Balance at 31 October 2017 100 19,827,375 19,827,475

Abbey Forged Products Limited (Registered number: 01644542)

Notes to the Financial Statements
for the Year Ended 31 October 2017

1. STATUTORY INFORMATION

Abbey Forged Products Limited is a private company, limited by shares , registered in England and Wales. The
company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements,
as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Preparation of consolidated financial statements
The financial statements contain information about Abbey Forged Products Limited as an individual company
and do not contain consolidated financial information as the parent of a group. The company is exempt under
Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it
and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its
parent, The Abbey Group UK Ltd, Beeley Wood Works, Sheffield, S6 1ND.

Turnover
Turnover is the amount derived from ordinary activities measured at the fair value of the consideration received
or receivable. The stated amount is after trade discounts, other sales taxes and Value Added Tax, in accordance
with FRS102 Section 23.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Long leasehold - not provided
Plant and machinery - 25% on cost and 10% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

The directors consider that freehold properties are maintained in such a state of repair that their residual value is
at least equal to their net book values. As a result, the corresponding depreciation would not be material and
therefore is not charged in the profit and loss account.

The directors perform annual impairment reviews in accordance with the requirements of FRS102 Section 17
and Section 27 to ensure that the carrying value is not lower than the recoverable amount.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in
fair value is recognised in profit or loss.

Abbey Forged Products Limited (Registered number: 01644542)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2017

2. ACCOUNTING POLICIES - continued

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in
bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the
statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of
exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the
operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to profit or loss in the period to which they relate.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2017 2016
£    £   
UK 20,060,539 16,979,898
Europe 1,442,619 1,945,755
Rest of World 2,335,332 2,834,585
23,838,490 21,760,238

Abbey Forged Products Limited (Registered number: 01644542)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2017

4. EMPLOYEES AND DIRECTORS
2017 2016
£    £   
Wages and salaries 5,917,556 5,961,498
Social security costs 592,269 567,263
Other pension costs 86,943 248
6,596,768 6,529,009

The average number of employees during the year was as follows:
2017 2016

Production and Manual 127 124
Administration 67 54
194 178

2017 2016
£    £   
Directors' remuneration 151,700 42,120
Directors' pension contributions to money purchase schemes 373 248

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 3 3

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2017 2016
£    £   
Other operating leases 45,700 34,692
Depreciation - owned assets 468,560 464,168
Profit on disposal of fixed assets - (12,082 )
Auditors' remuneration 11,790 11,230
Auditors' remuneration for non audit work 44,892 25,501

6. INCOME FROM SHARES IN GROUP UNDERTAKINGS
2017 2016
£    £   
Shares in group undertakings 140,000 -

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2017 2016
£    £   
Interest on overdue taxation - 5,118

Abbey Forged Products Limited (Registered number: 01644542)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2017

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2017 2016
£    £   
Current tax:
UK corporation tax 455,713 1,085,628
Prior Year Under/Overprovision - (30,352 )
Total current tax 455,713 1,055,276

Deferred tax (4,300 ) 28,806
Tax on profit 451,413 1,084,082

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is
explained below:

2017 2016
£    £   
Profit before tax 2,502,978 5,531,607
Profit multiplied by the standard rate of corporation tax in the UK of 19%
(2016 - 20%)

475,566

1,106,321

Effects of:
Expenses not deductible for tax purposes 5,842 5,481
Income not taxable for tax purposes (26,600 ) -
Capital allowances in excess of depreciation (8,815 ) (23,758 )
Adjustments to tax charge in respect of previous periods - (30,352 )
Tax charged at higher rates 9,720 -
Deferred Tax (4,300 ) 28,806
Profit on disposal of Fixed Asset - (2,416 )
Total tax charge 451,413 1,084,082

9. DIVIDENDS
2017 2016
£    £   
Interim 1,975,000 7,050,000

Abbey Forged Products Limited (Registered number: 01644542)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2017

10. TANGIBLE FIXED ASSETS
Freehold Long Plant and
property leasehold machinery
£    £    £   
COST
At 1 November 2016 8,654,112 377,307 4,313,213
Additions 1,538,807 - 130,852
At 31 October 2017 10,192,919 377,307 4,444,065
DEPRECIATION
At 1 November 2016 - - 1,866,457
Charge for year - - 371,544
At 31 October 2017 - - 2,238,001
NET BOOK VALUE
At 31 October 2017 10,192,919 377,307 2,206,064
At 31 October 2016 8,654,112 377,307 2,446,756

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2016 193,792 218,275 82,403 13,839,102
Additions 3,801 85,575 1,624 1,760,659
Disposals - (30,250 ) - (30,250 )
At 31 October 2017 197,593 273,600 84,027 15,569,511
DEPRECIATION
At 1 November 2016 146,879 160,831 65,721 2,239,888
Charge for year 22,322 63,922 10,772 468,560
At 31 October 2017 169,201 224,753 76,493 2,708,448
NET BOOK VALUE
At 31 October 2017 28,392 48,847 7,534 12,861,063
At 31 October 2016 46,913 57,444 16,682 11,599,214

Abbey Forged Products Limited (Registered number: 01644542)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2017

11. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2016
and 31 October 2017 178,547
NET BOOK VALUE
At 31 October 2017 178,547
At 31 October 2016 178,547

The company's investments at the Statement of Financial Position date in the share capital of companies include
the following:

Forge UK Limited
Registered office: Beeley Wood Works,Beeley Wood Lane, Sheffield, South Yorkshire, S6 1ND
Nature of business: Sub-contract Steel Forging
%
Class of shares: holding
Ordinary 100.00
2017 2016
£    £   
Aggregate capital and reserves 100 100

Royal Villa Number 22 Limited
Registered office: Offices of Tricor Services (BVI) Limited, PO Box 3340, 2F Palm Grove House,Road Town, Tortola.
Nature of business: Property Holding Company
%
Class of shares: holding
Ordinary 100.00
31/12/17 31/12/16
£    £   
Aggregate capital and reserves (366,151 ) 64,682
Loss for the year (430,833 ) (35,823 )

Abbey Engineered Products Limited
Registered office: Beeley Wood Works,Beeley Wood Lane, Sheffield, South Yorkshire, S6 1ND
Nature of business: Steel sales
%
Class of shares: holding
Ordinary 80.00
2017 2016
£    £   
Aggregate capital and reserves 399,971 129,625
Profit for the year 445,346 129,525

Abbey Forged Products Limited (Registered number: 01644542)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2017

12. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2016
and 31 October 2017 219,631
NET BOOK VALUE
At 31 October 2017 219,631
At 31 October 2016 219,631

On 17 January 2013, the company acquired freehold investment property in Spain. Whilst no formal valuation
was undertaken to value the property as at 31 October 2017, it is the directors' opinion that the value of the
property is not materially different to the amount that the property cost the company on 17 January 2013.

13. STOCKS
2017 2016
£    £   
Work-in-progress 275,405 320,798
Finished goods 232,791 212,864
508,196 533,662

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade debtors 4,416,495 4,354,771
Amounts owed by group undertakings 5,502,992 4,449,597
Other debtors 426,352 237,995
Directors' current accounts 4,177,475 2,038,575
Prepayments and accrued income 1,168,590 -
Prepayments 225,648 72,539
15,917,552 11,153,477

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade creditors 3,081,283 2,447,696
Amounts owed to group undertakings 19,956,114 19,005,051
Tax 266,114 1,258,089
Social security and other taxes 158,579 140,658
VAT 323,301 338,502
Other creditors 9,919 10,418
Accrued expenses 175,993 55,712
23,971,303 23,256,126

All payment terms are agreed with each supplier and the current creditor days are 66 days (2016: 67 days)

Abbey Forged Products Limited (Registered number: 01644542)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2017

16. PROVISIONS FOR LIABILITIES
2017 2016
£    £   
Deferred tax 162,066 166,366

Deferred
tax
£   
Balance at 1 November 2016 166,366
Accelerated capital allowances (4,300 )
Balance at 31 October 2017 162,066

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2017 2016
value: £    £   
100 Ordinary £1 100 100

18. RESERVES
Retained
earnings
£   

At 1 November 2016 19,750,810
Profit for the year 2,051,565
Dividends (1,975,000 )
At 31 October 2017 19,827,375

19. CAPITAL COMMITMENTS
2017 2016
£    £   
Contracted but not provided for in the
financial statements 17,586 -

20. TRANSACTIONS WITH DIRECTORS

The disclosures of the information is given in a summarised form.

Abbey Forged Products Limited (Registered number: 01644542)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2017

21. RELATED PARTY DISCLOSURES


Related Party Exemption

The company has taken advantage of the exemption granted under FRS102 Section 33 from the requirement to
disclose transactions with other members of The Abbey Group as the company is wholly owned within the group
and the consolidated financial statements of the group are publicly available.

Other Related Party Transactions

Included in debtors is an amount due from Mrs J M & Mr RS Neal and Mr JS Neal, who are both directors of the
company and are the ultimate controlling parties. The loan is as follows:






Balance
brought
forward as at
01/11/2016 £
Undrawn Net
Salary,
Dividends and
Capital
Introduced £




Drawings £

Balance
carried
forward as at
31/10/2017 £

Mrs J M and Mr R S Neal(1,951,545)1,975,000(4,129,887)(4,106,433)
Mr J S Neal(86,930)38,660(22,773)(71,042)

The maximum outstanding balance due to the company from Mrs J M and Mr R S Neal during the year was
£4,106,433.

The maximum outstanding balance due to the company from Mr JS Neal during the year was £86,930.

The loans have no fixed dates for repayment and no credit or debit interest is applied to balances.

22. POST BALANCE SHEET EVENTS

There are no events since the end of the year which require disclosure to the financial statements.

23. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of The Abbey Group UK Limited, a company incorporated in
England. The company is under the ultimate control of Mrs J M Neal and Mr R S Neal who between them own
100% of the share capital of The Abbey Group UK Limited. The group accounts of The Abbey Group UK
Limited are available from the Registrar Of Companies.

24. POWER TO AMEND FINANCIAL STATEMENTS

The directors have the power to amend the financial statements after they have been issued.