IRIS Accounts Production v18.2.0.360 05891820 Board of Directors 31.10.17 1.11.16 31.10.17 31.10.17 true false true true false false false true false Ordinary 1.00000 B Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure058918202016-10-31058918202017-10-31058918202016-11-012017-10-31058918202015-10-31058918202015-11-012016-10-31058918202016-10-3105891820ns15:EnglandWales2016-11-012017-10-3105891820ns14:PoundSterling2016-11-012017-10-3105891820ns10:Director12016-11-012017-10-3105891820ns10:Consolidated2017-10-3105891820ns10:ConsolidatedGroupCompanyAccounts2016-11-012017-10-3105891820ns10:PrivateLimitedCompanyLtd2016-11-012017-10-3105891820ns10:Consolidatedns10:FRS1022016-11-012017-10-3105891820ns10:Consolidatedns10:Audited2016-11-012017-10-3105891820ns10:Consolidatedns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2016-11-012017-10-3105891820ns10:Consolidatedns10:LargeMedium-sizedCompaniesRegimeForAccounts2016-11-012017-10-3105891820ns10:FullAccounts2016-11-012017-10-310589182012016-11-012017-10-3105891820ns10:OrdinaryShareClass12016-11-012017-10-3105891820ns10:OrdinaryShareClass22016-11-012017-10-3105891820ns10:Consolidated2016-11-012017-10-3105891820ns10:Director22016-11-012017-10-3105891820ns10:CompanySecretary12016-11-012017-10-3105891820ns10:RegisteredOffice2016-11-012017-10-3105891820ns10:Consolidated2015-11-012016-10-3105891820ns5:CurrentFinancialInstruments2017-10-3105891820ns5:CurrentFinancialInstruments2016-10-3105891820ns5:ShareCapital2017-10-3105891820ns5:ShareCapital2016-10-3105891820ns5:RetainedEarningsAccumulatedLosses2017-10-3105891820ns5:RetainedEarningsAccumulatedLosses2016-10-3105891820ns5:ShareCapital2015-10-3105891820ns5:RetainedEarningsAccumulatedLosses2015-10-3105891820ns5:RetainedEarningsAccumulatedLosses2015-11-012016-10-3105891820ns5:RetainedEarningsAccumulatedLosses2016-11-012017-10-3105891820ns5:NetGoodwill2016-11-012017-10-3105891820ns5:IntangibleAssetsOtherThanGoodwill2016-11-012017-10-3105891820ns5:LandBuildingsns5:OwnedOrFreeholdAssets2016-11-012017-10-3105891820ns5:LongLeaseholdAssetsns5:LandBuildings2016-11-012017-10-3105891820ns5:PlantMachinery2016-11-012017-10-3105891820ns5:FurnitureFittings2016-11-012017-10-3105891820ns5:MotorVehicles2016-11-012017-10-3105891820ns5:ComputerEquipment2016-11-012017-10-3105891820ns15:UnitedKingdom2016-11-012017-10-3105891820ns15:UnitedKingdom2015-11-012016-10-3105891820ns15:Europe2016-11-012017-10-3105891820ns15:Europe2015-11-012016-10-3105891820ns5:TotalGeographicSegmentsIncludingAnyUnallocatedAmount2016-11-012017-10-3105891820ns5:TotalGeographicSegmentsIncludingAnyUnallocatedAmount2015-11-012016-10-3105891820ns5:OwnedAssets2016-11-012017-10-3105891820ns5:OwnedAssets2015-11-012016-10-3105891820ns5:NetGoodwill2015-11-012016-10-310589182012016-11-012017-10-310589182012015-11-012016-10-3105891820ns10:OrdinaryShareClass12015-11-012016-10-3105891820ns5:LandBuildings2016-10-3105891820ns5:PlantMachinery2016-10-3105891820ns5:FurnitureFittings2016-10-3105891820ns5:MotorVehicles2016-10-3105891820ns5:LandBuildings2016-11-012017-10-3105891820ns5:LandBuildings2017-10-3105891820ns5:PlantMachinery2017-10-3105891820ns5:FurnitureFittings2017-10-3105891820ns5:MotorVehicles2017-10-3105891820ns5:LandBuildings2016-10-3105891820ns5:PlantMachinery2016-10-3105891820ns5:FurnitureFittings2016-10-3105891820ns5:MotorVehicles2016-10-3105891820ns5:CostValuation2016-10-3105891820ns5:CurrentFinancialInstrumentsns5:WithinOneYear2017-10-3105891820ns5:CurrentFinancialInstrumentsns5:WithinOneYear2016-10-3105891820ns5:DeferredTaxation2016-10-3105891820ns5:DeferredTaxation2016-11-012017-10-3105891820ns5:DeferredTaxation2017-10-3105891820ns10:OrdinaryShareClass12017-10-3105891820ns10:OrdinaryShareClass22017-10-3105891820ns5:RetainedEarningsAccumulatedLosses2016-10-31


REGISTERED NUMBER: 05891820 (England and Wales)















Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 31 October 2017

for

The Abbey Group Uk Limited

The Abbey Group Uk Limited (Registered number: 05891820)






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




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Income Statement 8

Consolidated Other Comprehensive Income 9

Consolidated Statement of Financial Position 10

Company Statement of Financial Position 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Statement of Cash Flows 14

Notes to the Consolidated Statement of Cash Flows 15

Notes to the Consolidated Financial Statements 16


The Abbey Group Uk Limited

Company Information
for the Year Ended 31 October 2017







DIRECTORS: Mrs J M Neal
R S Neal





SECRETARY: R S Neal





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





REGISTERED NUMBER: 05891820 (England and Wales)





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

The Abbey Group Uk Limited (Registered number: 05891820)

Group Strategic Report
for the Year Ended 31 October 2017

The directors present their strategic report of the company and the group for the year ended 31 October 2017.

REVIEW OF BUSINESS
The group has seen revenues increase but profits drop this year which is largely down to a competitive market place. The
group expects to reverse this decline and press ahead with technological advancements in line with its expectations.

Turnover has risen by 8.68% in the year, whilst cost of sales has also risen by 20.62%.

FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
Risk is present in all business. 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 main
trade of the group 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 groups main operations is highly dependent on the cost and availability of raw materials. The
group does not rely to heavily on one major supplier for raw materials which gives the group access to readily available
raw materials at competitive prices.

3. Market Volatility
Being the the main trade of the group is operating in the steel industry, its earnings are exposed to cyclical changes to
supply and demand resulting in price fluctuations that 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 group's financial performance.


The Abbey Group Uk Limited (Registered number: 05891820)

Group Strategic Report
for the Year Ended 31 October 2017

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

2017 2016
£ £
Revenue 24,206,722 22,274,371
Operating profit per employee 18,163 55,786
Turnover per employee 122,877 127,282
Return on capital employed 8.2% 13.7%
Gross profit margin 30.55% 37.5%
Operating profit margin 14.8% 27.2%
Current Ratio 5.9:1 5.7:1

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

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

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

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

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

The current ratio indicator represents the value of the group's current assets against its current liabilities and measures
the ability of the group to finance it's 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

The Abbey Group Uk Limited (Registered number: 05891820)

Report of the Directors
for the Year Ended 31 October 2017

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

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of manufacturers, forgers and distributors of steel
products.

DIVIDENDS
The total distribution of dividends for the year ended 31 October 2017 will be £ 1,975,000 .

FUTURE DEVELOPMENTS
The group plans to continue the growth into future years and the directors are focused and confident regarding business
development in the future. The directors expect their overall general investments within the group to increase the group'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

FINANCIAL INSTRUMENTS
The groups principal financial instruments comprise of bank balances, trade debtors, trade creditors and loans both to
and from the companies which make up the group.

Due to the nature of the financial instruments used by the group there is no exposure to price risk. The group'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 group makes use of additional funds held in excess of
that required for the day to day running of the group by investing them in high interest accounts. These do have instant
access to ensure money is available when required to meet any demands on cash flow.

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

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.

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

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.


The Abbey Group Uk Limited (Registered number: 05891820)

Report of the Directors
for the Year Ended 31 October 2017

EMPLOYMENT POLICIES
The group 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 group has made, and will continue to
make, every effort to retain and assist any 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 group companies for
which they work and the way in which their personal contributions are of fundamental importance to the further success
of the business.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group 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), including Financial Reporting Standard 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the
company and the group 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 the group and hence for taking reasonable
steps for the prevention and detection of fraud and other irregularities.

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 group'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
group's auditors are aware of that information.

AUDITORS
The auditors, Sutton McGrath Hartley Limited, 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
The Abbey Group Uk Limited

Opinion
We have audited the financial statements of The Abbey Group Uk Limited (the 'parent company') and its subsidiaries
(the 'group') for the year ended 31 October 2017 which comprise the Consolidated Income Statement, Consolidated
Other Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position,
Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of
Cash Flows and Notes to the Consolidated Statement of Cash Flows, 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 group's and of the parent company affairs as at 31 October 2017 and of the
group's 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 group 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 group'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 Group
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 Group 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 Group 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
The Abbey Group Uk Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the
course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not
been received from branches not visited by us; or
- the parent company 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 group's and the parent 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 group or the parent 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 Limited
5 Westbrook Court
Sharrowvale Road
Sheffield
South Yorkshire
S11 8YZ

26 July 2018

The Abbey Group Uk Limited (Registered number: 05891820)

Consolidated Income Statement
for the Year Ended 31 October 2017

2017 2016
Notes £    £   

TURNOVER 3 24,206,722 22,274,371

Cost of sales 16,810,378 13,936,210
GROSS PROFIT 7,396,344 8,338,161

Administrative expenses 3,835,121 2,327,051
3,561,223 6,011,110

Other operating income 16,891 38,687
OPERATING PROFIT 6 3,578,114 6,049,797

Interest receivable and similar income 24,979 177,575
3,603,093 6,227,372
Gain/loss on revaluation of investment
property

(1,574,909

)

-
2,028,184 6,227,372

Interest payable and similar expenses 7 79 6,501
PROFIT BEFORE TAXATION 2,028,105 6,220,871

Tax on profit 8 738,014 1,270,401
PROFIT FOR THE FINANCIAL YEAR 1,290,091 4,950,470
Profit attributable to:
Owners of the parent 1,175,117 4,950,470
Non-controlling interests 114,974 -
1,290,091 4,950,470

The Abbey Group Uk Limited (Registered number: 05891820)

Consolidated Other Comprehensive Income
for the Year Ended 31 October 2017

2017 2016
Notes £    £   

PROFIT FOR THE YEAR 1,290,091 4,950,470


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,290,091

4,950,470

Total comprehensive income attributable to:
Owners of the parent 1,175,117 4,950,470
Non-controlling interests 114,974 -
1,290,091 4,950,470

The Abbey Group Uk Limited (Registered number: 05891820)

Consolidated Statement of Financial Position
31 October 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 1,234,994 1,354,961
Tangible assets 12 17,214,961 16,279,489
Investments 13 68,850 68,850
Investment property 14 3,520,783 4,307,000
22,039,588 22,010,300

CURRENT ASSETS
Stocks 15 508,196 533,662
Debtors 16 9,186,536 6,673,464
Cash at bank and in hand 16,231,374 19,845,626
25,926,106 27,052,752
CREDITORS
Amounts falling due within one year 17 4,402,772 4,754,813
NET CURRENT ASSETS 21,523,334 22,297,939
TOTAL ASSETS LESS CURRENT
LIABILITIES

43,562,922

44,308,239

PROVISIONS FOR LIABILITIES 18 (103,832 ) (129,240 )
NET ASSETS 43,459,090 44,178,999

CAPITAL AND RESERVES
Called up share capital 19 204 204
Retained earnings 20 43,378,912 44,178,795
SHAREHOLDERS' FUNDS 43,379,116 44,178,999

NON-CONTROLLING INTERESTS 21 79,974 -
TOTAL EQUITY 43,459,090 44,178,999

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


The Abbey Group Uk Limited (Registered number: 05891820)

Company Statement of Financial Position
31 October 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 1,140,000 1,254,000
Tangible assets 12 4,127,581 4,416,058
Investments 13 68,956 68,956
Investment property 14 - -
5,336,537 5,739,014

CURRENT ASSETS
Debtors 16 20,014,408 18,992,171

CREDITORS
Amounts falling due within one year 17 200,408 198,852
NET CURRENT ASSETS 19,814,000 18,793,319
TOTAL ASSETS LESS CURRENT
LIABILITIES

25,150,537

24,532,333

CAPITAL AND RESERVES
Called up share capital 19 204 204
Retained earnings 20 25,150,333 24,532,129
SHAREHOLDERS' FUNDS 25,150,537 24,532,333

Company's profit for the financial year 2,593,204 7,551,408

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


The Abbey Group Uk Limited (Registered number: 05891820)

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

Called up
share Retained Non-controlling Total
capital earnings Total interests equity
£    £    £    £    £   

Balance at 1 November 2015 204 46,278,325 46,278,529 - 46,278,529

Changes in equity
Dividends - (7,050,000 ) (7,050,000 ) - (7,050,000 )
Total comprehensive income - 4,950,470 4,950,470 - 4,950,470
Balance at 31 October 2016 204 44,178,795 44,178,999 - 44,178,999

Changes in equity
Dividends - (1,975,000 ) (1,975,000 ) (35,000 ) (2,010,000 )
Total comprehensive income - 1,175,117 1,175,117 114,974 1,290,091
Balance at 31 October 2017 204 43,378,912 43,379,116 79,974 43,459,090

The Abbey Group Uk Limited (Registered number: 05891820)

Company 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 204 24,030,721 24,030,925

Changes in equity
Dividends - (7,050,000 ) (7,050,000 )
Total comprehensive income - 7,551,408 7,551,408
Balance at 31 October 2016 204 24,532,129 24,532,333

Changes in equity
Dividends - (1,975,000 ) (1,975,000 )
Total comprehensive income - 2,593,204 2,593,204
Balance at 31 October 2017 204 25,150,333 25,150,537

The Abbey Group Uk Limited (Registered number: 05891820)

Consolidated Statement of Cash Flows
for the Year Ended 31 October 2017

2017 2016
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 4,586,722 8,649,528
Interest paid (79 ) (6,501 )
Tax paid (1,678,895 ) 18,467
Net cash from operating activities 2,907,748 8,661,494

Cash flows from investing activities
Purchase of intangible fixed assets - 20
Purchase of tangible fixed assets (1,794,512 ) (1,023,391 )
Purchase of investment property (788,692 ) -
Sale of tangible fixed assets 30,250 13,500
Interest received 24,979 177,575
Net cash from investing activities (2,527,975 ) (832,296 )

Cash flows from financing activities
Amount introduced by directors 2,254,365 7,352,453
Amount withdrawn by directors (4,238,390 ) (2,455,947 )
Equity dividends paid (1,975,000 ) (7,050,000 )
Dividends paid to minority interests (35,000 ) -
Net cash from financing activities (3,994,025 ) (2,153,494 )

(Decrease)/increase in cash and cash equivalents (3,614,252 ) 5,675,704
Cash and cash equivalents at beginning of
year

2

19,845,626

14,169,922

Cash and cash equivalents at end of year 2 16,231,374 19,845,626

The Abbey Group Uk Limited (Registered number: 05891820)

Notes to the Consolidated Statement of Cash Flows
for the Year Ended 31 October 2017

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2017 2016
£    £   
Profit before taxation 2,028,105 6,220,871
Depreciation charges 948,760 1,079,756
Profit on disposal of fixed assets - (12,082 )
Loss on revaluation of fixed assets 1,574,909 -
Finance costs 79 6,501
Finance income (24,979 ) (177,575 )
4,526,874 7,117,471
Decrease in stocks 25,466 290,665
(Increase)/decrease in trade and other debtors (529,047 ) 1,380,994
Increase/(decrease) in trade and other creditors 563,429 (139,602 )
Cash generated from operations 4,586,722 8,649,528

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of
these Statement of Financial Position amounts:

Year ended 31 October 2017
31/10/17 1/11/16
£    £   
Cash and cash equivalents 16,231,374 19,845,626
Year ended 31 October 2016
31/10/16 1/11/15
£    £   
Cash and cash equivalents 19,845,626 14,169,922

The Abbey Group Uk Limited (Registered number: 05891820)

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

1. STATUTORY INFORMATION

The Abbey Group Uk 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 General 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 as modified by the revaluation of certain assets.

Consolidation
The group accounts consolidate the accounts of The Abbey Group UK Limited and its subsidiary companies.
The subsidiaries financial years are all coterminous with that of the company except for the subsidiary Royal
Villa Number 22 Limited, whose financial year ended on 31 December 2017.

Interim accounts to 31 October 2017 for Royal Villa Number 22 Limited have been prepared and consolidated
into the group accounts of The Abbey Group UK Limited.

Turnover
Turnover is the amount derived from ordinary activities and stated after trade discounts, other sales taxes and
Value Added Tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of businesses in 2007, is being amortised
evenly over its estimated useful life of twenty and sixteen years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

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, 25% on reducing balance, 20% on reducing balance, 10% on cost and 5% on reducing balance
Fixtures and fittings - 25% on cost and 20% on cost
Motor vehicles - 25% on cost and 20% 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 to 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.

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.

The Abbey Group Uk Limited (Registered number: 05891820)

Notes to the Consolidated 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 Consolidated 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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme
are charged to profit or loss in the period to which they relate.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement,
as financial assets, financial liabilities, or equity instruments. An equity instrument is any contract that evidences
a residual interest in the assets of the company after deducting all of its liabilities.

The Abbey Group Uk Limited (Registered number: 05891820)

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

3. TURNOVER

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

An analysis of turnover by geographical market is given below:

2017 2016
£    £   
United Kingdom 20,428,771 17,494,031
Europe 1,442,619 1,945,755
Rest of the world 2,335,332 2,834,585
24,206,722 22,274,371

4. EMPLOYEES AND DIRECTORS
2017 2016
£    £   
Wages and salaries 5,971,858 6,014,798
Social security costs 597,012 572,454
Other pension costs 91,377 248
6,660,247 6,587,500

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

Production and Manual 128 124
Administration 69 54
197 178

5. DIRECTORS' EMOLUMENTS
2017 2016
£    £   
Directors' remuneration 11,520 11,520

6. OPERATING PROFIT

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

2017 2016
£    £   
Other operating leases 48,660 37,603
Depreciation - owned assets 828,790 959,790
Profit on disposal of fixed assets - (12,082 )
Goodwill amortisation 119,967 119,968
Auditors' remuneration 11,790 11,230
Auditors' remuneration for non audit work 44,892 25,501
Foreign exchange differences 408,703 (1,124,578 )

The Abbey Group Uk Limited (Registered number: 05891820)

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

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2017 2016
£    £   
Corporation Tax Interest 79 6,501

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 763,423 1,316,832
Prior Year Underprovision - (30,352 )
Total current tax 763,423 1,286,480

Deferred tax (25,409 ) (16,079 )
Tax on profit 738,014 1,270,401

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

2017 2016
£    £   
Profit before tax 2,028,105 6,220,871
Profit multiplied by the standard rate of corporation tax in the UK of 20%
(2016 - 20%)

405,621

1,244,174

Effects of:
Expenses not deductible for tax purposes 331,020 25,027
Income not taxable for tax purposes (3,378 ) (2,416 )
Depreciation in excess of capital allowances 53,215 43,920
Adjustments to tax charge in respect of previous periods - (30,352 )
Tax charged at higher rates - 6,127
Deferred tax movement (25,409 ) (16,079 )
Effect of change in rates (23,055 ) -
Total tax charge 738,014 1,270,401

9. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not
presented as part of these financial statements.


10. DIVIDENDS
2017 2016
£    £   
Ordinary shares of £1 each
Interim 1,975,000 7,050,000

The Abbey Group Uk Limited (Registered number: 05891820)

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

11. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 November 2016
and 31 October 2017 2,057,321
AMORTISATION
At 1 November 2016 702,360
Amortisation for year 119,967
At 31 October 2017 822,327
NET BOOK VALUE
At 31 October 2017 1,234,994
At 31 October 2016 1,354,961

Company
Goodwill
£   
COST
At 1 November 2016
and 31 October 2017 1,896,001
AMORTISATION
At 1 November 2016 642,001
Amortisation for year 114,000
At 31 October 2017 756,001
NET BOOK VALUE
At 31 October 2017 1,140,000
At 31 October 2016 1,254,000

The Abbey Group Uk Limited (Registered number: 05891820)

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

12. TANGIBLE FIXED ASSETS

Group
Freehold Long Plant and
property leasehold machinery
£    £    £   
COST OR VALUATION
At 1 November 2016 12,317,078 377,307 10,468,146
Additions 1,538,807 - 130,852
At 31 October 2017 13,855,885 377,307 10,598,998
DEPRECIATION
At 1 November 2016 - - 7,259,225
Charge for year - - 662,262
At 31 October 2017 - - 7,921,487
NET BOOK VALUE
At 31 October 2017 13,855,885 377,307 2,677,511
At 31 October 2016 12,317,078 377,307 3,208,921

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 November 2016 774,080 484,682 82,403 24,503,696
Additions 37,653 85,576 1,624 1,794,512
Disposals - (30,250 ) - (30,250 )
At 31 October 2017 811,733 540,008 84,027 26,267,958
DEPRECIATION
At 1 November 2016 472,023 427,238 65,721 8,224,207
Charge for year 91,834 63,922 10,772 828,790
At 31 October 2017 563,857 491,160 76,493 9,052,997
NET BOOK VALUE
At 31 October 2017 247,876 48,848 7,534 17,214,961
At 31 October 2016 302,057 57,444 16,682 16,279,489

Cost or valuation at 31 October 2017 is represented by:

Freehold Long Plant and
property leasehold machinery
£    £    £   
Cost 13,855,885 377,307 10,598,998

The Abbey Group Uk Limited (Registered number: 05891820)

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

12. TANGIBLE FIXED ASSETS - continued

Group

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
Cost 811,733 540,008 84,027 26,267,958

Company
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 November 2016
and 31 October 2017 3,662,966 6,135,033 261,719 266,407 10,326,125
DEPRECIATION
At 1 November 2016 - 5,381,941 261,719 266,407 5,910,067
Charge for year - 288,477 - - 288,477
At 31 October 2017 - 5,670,418 261,719 266,407 6,198,544
NET BOOK VALUE
At 31 October 2017 3,662,966 464,615 - - 4,127,581
At 31 October 2016 3,662,966 753,092 - - 4,416,058

13. FIXED ASSET INVESTMENTS

Group Company
2017 2016 2017 2016
£    £    £    £   
Shares in group undertakings - - 106 106
Other investments not loans 68,850 68,850 68,850 68,850
68,850 68,850 68,956 68,956

Additional information is as follows:

Group

Investments (neither listed nor unlisted) were as follows:
2017 2016
£    £   
Artwork 68,850 68,850

The Abbey Group Uk Limited (Registered number: 05891820)

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

13. FIXED ASSET INVESTMENTS - continued

Company
Shares in
group
undertakings
£   
COST
At 1 November 2016
and 31 October 2017 106
NET BOOK VALUE
At 31 October 2017 106
At 31 October 2016 106

Investments (neither listed nor unlisted) were as follows:
2017 2016
£    £   
Artwork 68,850 68,850

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

Subsidiaries

Abbey Forged Products Limited
Registered office: Beeley Wood Works, Beeley Wood Lane Sheffield, S6 1ND
Nature of business: steel forgers
%
Class of shares: holding
Ordinary 100.00
2017 2016
£    £   
Aggregate capital and reserves 19,827,465 19,750,910
Profit for the year 2,051,555 4,447,525

Forge UK Ltd
Registered office: Beeley Wood Works, Beeley Wood Lane Sheffield, S6 1ND
Nature of business: Dormant company
%
Class of shares: holding
Ordinary 100.00
2017 2016
£    £   
Aggregate capital and reserves 100 100

The Abbey Group Uk Limited (Registered number: 05891820)

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

13. FIXED ASSET INVESTMENTS - continued

Abbey Engineered Products Limited
Registered office: Beeley Wood Works, Beeley Wood Lane Sheffield, S6 1ND
Nature of business: sale of steel products
%
Class of shares: holding
Ordinary 80.00
2017 2016
£    £   
Aggregate capital and reserves 399,871 129,625
Profit for the year 445,346 129,525

Royal Villa Number 22 Limited
Registered office: Office of Tricor Services (BVI) Limited PO Box 3340, 2F Palm Grove House, Tortola
Nature of business: property investment
%
Class of shares: holding
Ordinary 100.00
2017 2016
£    £   
Aggregate capital and reserves (366,151 ) 64,682
Loss for the year (430,833 ) (35,823 )

Ocean Drive Lot 2A Inc
Registered office: Beeley Wood Works, Beeley Wood Lane Sheffield, S6 1ND
Nature of business: property investment
%
Class of shares: holding
Ordinary 100.00
2017 2016
£    £   
Aggregate capital and reserves (26,455 ) (26,455 )
Loss for the year - (14,627 )

Ocean Drive Lot 4a Inc
Registered office: Beeley Wood Works, Beeley Wood Lane Sheffield, S6 1ND
Nature of business: property investment
%
Class of shares: holding
Ordinary 100.00
2017 2016
£    £   
Aggregate capital and reserves (1,340,266 ) (92,039 )
Loss for the year (1,248,224 ) (71,570 )


The Abbey Group Uk Limited (Registered number: 05891820)

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

14. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 November 2016 4,307,000
Additions 788,692
Impairments (1,574,909 )
At 31 October 2017 3,520,783
NET BOOK VALUE
At 31 October 2017 3,520,783
At 31 October 2016 4,307,000

Fair value at 31 October 2017 is represented by:

£   
Valuation in 2013 104,410
Valuation in 2017 (1,574,909 )
Cost 4,991,282
3,520,783

If investment properties had not been revalued they would have been included at the following historical cost:

2017 2016
£    £   
Cost 4,991,282 -
Aggregate depreciation (262,537 ) -

Investment properties were valued on an open market basis on 31 October 2017 by the Directors .

15. STOCKS

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

The Abbey Group Uk Limited (Registered number: 05891820)

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

16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2017 2016 2017 2016
£    £    £    £   
Trade debtors 4,508,309 4,386,138 - -
Amounts owed by group undertakings - - 19,956,093 18,954,938
Other debtors 505,434 251,719 - -
Directors' current accounts 3,946,785 1,962,760 - -
Deferred tax asset - - 58,315 37,233
Prepayments 226,008 72,847 - -
9,186,536 6,673,464 20,014,408 18,992,171

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2017 2016 2017 2016
£    £    £    £   
Trade creditors 3,087,294 2,448,037 (1 ) 2
Amounts owed to group undertakings - - 6 6
Tax 573,823 1,489,293 200,403 198,844
Social security and other taxes 158,579 141,813 - -
VAT 357,867 348,411 - -
Other creditors 43,216 8,735 - -
Accrued expenses 181,993 318,524 - -
4,402,772 4,754,813 200,408 198,852

18. PROVISIONS FOR LIABILITIES

Group
2017 2016
£    £   
Deferred tax 103,832 129,240

Group
Deferred
tax
£   
Balance at 1 November 2016 129,240
Credit to Income Statement during year (25,408 )
Accelerated capital allowances
Balance at 31 October 2017 103,832

The Abbey Group Uk Limited (Registered number: 05891820)

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

18. PROVISIONS FOR LIABILITIES - continued

Company
Deferred
tax
£   
Balance at 1 November 2016 (37,233 )
Provided during year (21,082 )
Accelerated capital allowances
Balance at 31 October 2017 (58,315 )

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2017 2016
value: £    £   
200 Ordinary £1 200 200
4 B Ordinary £1 4 4
204 204

20. RESERVES

Group
Retained
earnings
£   

At 1 November 2016 44,178,795
Profit for the year 1,175,117
Dividends (1,975,000 )
At 31 October 2017 43,378,912

Company
Retained
earnings
£   

At 1 November 2016 24,532,129
Profit for the year 2,593,204
Dividends (1,975,000 )
At 31 October 2017 25,150,333


21. NON-CONTROLLING INTERESTS

As at 31.10.2017, the group owned 80% of Abbey Engineered Limited. At this date, reserves attributable to
holdings outside of the group totalled £79,994.

The Abbey Group Uk Limited (Registered number: 05891820)

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

22. RELATED PARTY DISCLOSURES

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




Balance
brought
forward as at
01/11/2016


Capital
Introduced



Drawings
Balance
carried
forward as at
31/10/2017
£ £ £ £
Mrs J M and Mr R S Neal (1,875,710 ) 2,167,315 (4,238,390 ) (3,946,785 )


The maximum outstanding balance due to the company from Mrs J M and Mr R S Neal during the year was
£3,990,598.

The directors consider themselves to be the only key management personnel. See note 5 for their compensation.

23. POST BALANCE SHEET EVENTS

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

24. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr and Mrs Neal.

25. POWER TO AMEND FINANCIAL STATEMENTS

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