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REGISTERED NUMBER: 14864644 (England and Wales)












ABER GROUP LIMITED

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 JUNE 2024






ABER GROUP LIMITED (REGISTERED NUMBER: 14864644)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Consolidated Income Statement 9

Consolidated Other Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 17


ABER GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: M P H Lee
A R Bhat
J Turner





REGISTERED OFFICE: Unit 5 Cefn Llan Science Park
Aberystwyth
SY23 3AH





REGISTERED NUMBER: 14864644 (England and Wales)





AUDITORS: Bevan Buckland LLP
Chartered Accountants
And Statutory Auditors
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA

ABER GROUP LIMITED (REGISTERED NUMBER: 14864644)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024

The directors present their strategic report of the company and the group for the year ended 30 June 2024.

REVIEW OF BUSINESS
The trading activities of the company continued with good levels of profits despite a drop in revenue, showing a gross profit of 7,641,559 and a profit after tax of 1,397,167


2024 2023 2022 2021 2020
£    £    £    £    £   
Turnover 9,435 11,751 9,358 7,182 6,525
Growth % (20%) 26% 30% 10%

The directors are pleased with the performance of the business in 2024 during a more difficult global trading conditions in the biotech markets. Following a pandemic driven boom, the capital investment within the biotech market has reduced significantly.



FUTURE PLANS
We are expecting recovery of our markets in financial year to June 2025 though not as strong growth as in previous years. The brewing sector continues strongly and we have plenty of market penetration opportunities in front of us.

The major challenges in 2024/25 are:

- Achieve significant revenue from our new range of optical sensors.
- Proactively ensure our capacitance sensors are reaching as many end users as possible.

Despite the challenging trading environment, the directors consider that the company is well placed to continue to operate profitably.


ABER GROUP LIMITED (REGISTERED NUMBER: 14864644)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024

PRINCIPAL RISKS AND UNCERTAINTIES
The Company is committed to its environmental, social and governance responsibilities. We are proactive in working to reduce the impact of our activities on the environment. An example of this is monitoring energy consumption and installing solar panels and battery systems. We are 14001 compliant. We contribute 1% of our profits to a charity fund that benefits the communities where we work. Being fully employee owned we provide excellent work environment and high quality jobs with meaning and purpose. We remain focused on managing ABER in a sustainable and efficient way in order to safeguard all our futures.

Financial Risks
The company uses various financial instruments which include cash and other items such as trade creditors that arise directly from its operations. The main risks arising from the company's financial instruments are liquidity risk and credit risk.

Liquidity risk
The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably. The company has built up its cash reserves to the point where borrowings such as overdraft facilities are not relied upon for short-term flexibility.

Exchange rate risk
The company manages its exposure to exchange rate fluctuation on its trading with foreign entities by setting up multi-currency accounts so that amounts can be paid into the respective home currency bank accounts to avoid any unnecessary financial loss on translation.

Health & Safety
The company has in place a rigorous and far-reaching health & safety policy and is committed to adhering to all legislation requirements imposed on it through enforcing authorities.

ON BEHALF OF THE BOARD:





M P H Lee - Director


15 January 2025

ABER GROUP LIMITED (REGISTERED NUMBER: 14864644)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 JUNE 2024

The directors present their report with the financial statements of the company and the group for the year ended 30 June 2024.

DIVIDENDS
The total distribution of dividends for the year ended 30 June 2024 will be £ 174,791 .

DIRECTORS
M P H Lee has held office during the whole of the period from 1 July 2023 to the date of this report.

Other changes in directors holding office are as follows:

A R Bhat - appointed 27 October 2023
J Turner - appointed 27 October 2023

POLITICAL DONATIONS AND EXPENDITURE
During the year donations of £16,472 (2023: £33,523) were made, none of these were political donations.

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). 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 ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Bevan Buckland LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





M P H Lee - Director


15 January 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ABER GROUP LIMITED

Opinion
We have audited the financial statements of Aber Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 30 June 2024 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
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

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, except to the extent otherwise explicitly stated in our report, 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 we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. 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.

Opinions 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
ABER GROUP 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 four, 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ABER GROUP LIMITED


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. We identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, and then, design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

We discussed our audit independence complying with the Revised Ethical Standard 2019 with the engagement team members whilst planning the audit and continually monitored our independence throughout the process.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- enquiring of management, including obtaining and reviewing support documentation, concerning the company's policies and procedures relating to:
- identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
- internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations;
- discussing among the engagement team how and where fraud might occur in the Financial Statements and any potential indicators of fraud.
- obtaining an understanding of the legal and regulatory frameworks that the company operates in, focusing on those laws and regulations that had a direct effect on the Financial Statements or that had a fundamental effect on the operations of the company, The key laws and regulations we considered in this context included the UK Companies Act and relevant tax legislation.

In addition to the above, our procedures to respond to risks identified included the following:

- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations;
- enquiring of management concerning actual and potential litigation and claims; performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
- reading minutes of meetings of those charged with governance and reviewing correspondence with HMRC;
- In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments;
- assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and
- evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ABER GROUP LIMITED


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.




Henry Lloyd Davies (Senior Statutory Auditor)
for and on behalf of Bevan Buckland LLP
Chartered Accountants
And Statutory Auditors
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA

15 January 2025

ABER GROUP LIMITED (REGISTERED NUMBER: 14864644)

CONSOLIDATED
INCOME STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
Notes £    £   

TURNOVER 3 9,434,942 12,282,626

Cost of sales 1,793,383 3,059,383
GROSS PROFIT 7,641,559 9,223,243

Administrative expenses 6,385,270 6,525,361
1,256,289 2,697,882

Other operating income 106,658 127,784
OPERATING PROFIT 5 1,362,947 2,825,666

Interest receivable and similar income 82,625 35,700
PROFIT BEFORE TAXATION 1,445,572 2,861,366

Tax on profit 6 48,405 357,823
PROFIT FOR THE FINANCIAL YEAR 1,397,167 2,503,543
Profit attributable to:
Owners of the parent 1,397,167 2,503,543

ABER GROUP LIMITED (REGISTERED NUMBER: 14864644)

CONSOLIDATED
OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 1,397,167 2,503,543


OTHER COMPREHENSIVE INCOME
Sale of Shares 103,752 155,265
Donations to EBT 260,000 195,000
Purchase of Own Shares (547,395 ) (76,153 )
Income tax relating to components of other
comprehensive income

-

-
OTHER COMPREHENSIVE INCOME FOR
THE YEAR, NET OF INCOME TAX

(183,643

)

274,112
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

1,213,524

2,777,655

Total comprehensive income attributable to:
Owners of the parent 1,213,524 2,777,655

ABER GROUP LIMITED (REGISTERED NUMBER: 14864644)

CONSOLIDATED BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 229,372 708,449
Tangible assets 10 4,418,617 3,655,035
Investments 11 - -
4,647,989 4,363,484

CURRENT ASSETS
Stocks 12 3,359,434 3,136,845
Debtors 13 2,146,452 2,594,619
Cash at bank and in hand 6,622,634 7,253,152
12,128,520 12,984,616
CREDITORS
Amounts falling due within one year 14 937,657 2,104,669
NET CURRENT ASSETS 11,190,863 10,879,947
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,838,852

15,243,431

CREDITORS
Amounts falling due after more than one year 15 (89,637 ) (439,462 )

PROVISIONS FOR LIABILITIES 16 (241,013 ) (241,013 )
NET ASSETS 15,508,202 14,562,956

CAPITAL AND RESERVES
Called up share capital 17 20,615 20,615
Share premium 18 19,069 112,556
Treasury Shares 18 (4,857 ) (4,208 )
Other reserves 18 938,451 1,121,445
Retained earnings 18 14,534,924 13,312,548
SHAREHOLDERS' FUNDS 15,508,202 14,562,956

The financial statements were approved by the Board of Directors and authorised for issue on 15 January 2025 and were signed on its behalf by:





M P H Lee - Director


ABER GROUP LIMITED (REGISTERED NUMBER: 14864644)

COMPANY BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 - -
Investments 11 20,615 -
20,615 -

CURRENT ASSETS
Cash at bank 5,001 -

CREDITORS
Amounts falling due within one year 14 5,001 -
NET CURRENT LIABILITIES - -
TOTAL ASSETS LESS CURRENT
LIABILITIES

20,615

-

CAPITAL AND RESERVES
Called up share capital 17 20,615 -
SHAREHOLDERS' FUNDS 20,615 -

Company's profit for the financial year - -

The financial statements were approved by the Board of Directors and authorised for issue on 15 January 2025 and were signed on its behalf by:





M P H Lee - Director


ABER GROUP LIMITED (REGISTERED NUMBER: 14864644)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024

Called up
share Retained Share
capital earnings premium
£    £    £   
Balance at 1 July 2022 20,622 10,926,806 19,070

Changes in equity
Issue of share capital (7 ) - 93,486
Dividends - (117,801 ) -
Total comprehensive income - 2,503,543 -
Balance at 30 June 2023 20,615 13,312,548 112,556

Changes in equity
Issue of share capital - - (93,487 )
Dividends - (174,791 ) -
Total comprehensive income - 1,397,167 -
Balance at 30 June 2024 20,615 14,534,924 19,069
Treasury Other Total
Shares reserves equity
£    £    £   
Balance at 1 July 2022 (4,208 ) 847,333 11,809,623

Changes in equity
Issue of share capital - - 93,479
Dividends - - (117,801 )
Total comprehensive income - 274,112 2,777,655
Balance at 30 June 2023 (4,208 ) 1,121,445 14,562,956

Changes in equity
Issue of share capital - - (93,487 )
Dividends - - (174,791 )
Total comprehensive income (649 ) (182,994 ) 1,213,524
Balance at 30 June 2024 (4,857 ) 938,451 15,508,202

ABER GROUP LIMITED (REGISTERED NUMBER: 14864644)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024

Called up
share Retained Total
capital earnings equity
£    £    £   

Changes in equity
Balance at 30 June 2023 - - -

Changes in equity
Issue of share capital 20,615 - 20,615
Balance at 30 June 2024 20,615 - 20,615

ABER GROUP LIMITED (REGISTERED NUMBER: 14864644)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,198,884 1,752,097
Tax paid (361,790 ) (446,032 )
Net cash from operating activities 837,094 1,306,065

Cash flows from investing activities
Purchase of tangible fixed assets (1,098,316 ) (1,470,001 )
Interest received 82,625 35,700
Net cash from investing activities (1,015,691 ) (1,434,301 )

Cash flows from financing activities
Share issue 103,752 -
Share buyback (640,882 ) -
Donations to EBT 260,000 -
Equity dividends paid (174,791 ) (117,801 )
Net cash from financing activities (451,921 ) (117,801 )

Decrease in cash and cash equivalents (630,518 ) (246,037 )
Cash and cash equivalents at beginning of
year

2

7,253,152

7,499,189

Cash and cash equivalents at end of year 2 6,622,634 7,253,152

ABER GROUP LIMITED (REGISTERED NUMBER: 14864644)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Profit before taxation 1,445,572 2,861,366
Depreciation charges 314,886 402,465
Decrease in Fair Value of Intangibles 479,077 -
Finance income (82,625 ) (35,700 )
2,156,910 3,228,131
Increase in stocks (222,589 ) (1,743,582 )
Decrease/(increase) in trade and other debtors 448,167 (481,411 )
(Decrease)/increase in trade and other creditors (1,183,604 ) 748,959
Cash generated from operations 1,198,884 1,752,097

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 June 2024
30.6.24 1.7.23
£    £   
Cash and cash equivalents 6,622,634 7,253,152
Year ended 30 June 2023
30.6.23 1.7.22
£    £   
Cash and cash equivalents 7,253,152 7,499,189


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.7.23 Cash flow At 30.6.24
£    £    £   
Net cash
Cash at bank and in hand 7,253,152 (630,518 ) 6,622,634
7,253,152 (630,518 ) 6,622,634
Total 7,253,152 (630,518 ) 6,622,634

ABER GROUP LIMITED (REGISTERED NUMBER: 14864644)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Aber Group 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.

The accounts include the employee benefit trust (EBT). The EBT is classified as a intermediate payment arrangement, per FRS102 the other assets and liabilities of the intermediary shall be recognised as assets and liabilities of the sponsoring entity.

Included within the financial statements is the EBT bank balance plus the shares and reserves held by the trust.

Basis of consolidation
The consolidated financial statements of the Company include the accounts of the Company and its wholly-owned subsidiaries. Aber Instruments Ltd, Aber Instruments Inc and Aber 1432 Powhatan LLC. All intercompany balances and transactions have been eliminated. Subsidiaries are consolidated from the date of acquisition, being the date on which the Company has power to govern the financial and operating policies of an entity so as to obtain benefits from its activities, and continue to be consolidated until the date such control ceases. The financial statements of the subsidiaries are prepared for the same reporting period as the parent, using consistent accounting policies in all material respects.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Significant judgements and estimates
The following are management judgements in applying the accounting policies of the Group that have the most significant effect on the amounts recognised in the financial statements.

Useful lives of assets
Tangible fixed assets, other than investment properties, are depreciated over their useful economic lives based on various factors. The actual lives of the assets are re-assessed on a periodic basis and may vary depending on the standard of the asset.

Provisions and accruals
Management bases its judgements on the circumstances relating to each specific event and upon currently available information. However, given the inherent difficulties in the estimation of liabilities in these areas, it cannot be guaranteed that additional costs will not be incurred beyond the amounts accrued.

ABER GROUP LIMITED (REGISTERED NUMBER: 14864644)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount payable in connection with the asset acquisition of BugLab in 2020, is being amortised evenly over its estimated useful life of five years.

Initial cost being measured as the excess of the consideration payable over the net book value of the assets purchased. Initial recognition includes contingent consideration which will be reassessed annually until consideration has been settled in full.

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 - 2% on cost
Plant and Machinery - 4% reducing balance and Straight line over 10 years
Fixtures and fittings - 4% reducing balance, Straight line over 5 years and at varying rates on cost
Computer equipment - Straight line over 4 years and Straight line over 2 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.

Work in progress
Work in progress is valued at the cost of raw materials and some sub contract and labour costs at the balance sheet date.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

ABER GROUP LIMITED (REGISTERED NUMBER: 14864644)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

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.

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.

The Group provides a range of benefits to employees, including annual bonus arrangements, paid holiday arrangements and defined benefit and defined contribution pension plans.

Short term benefits
Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

Financial instruments
The group enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other receivables and payables, amounts due to and from related parties.

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.

Debt instruments like loans and other receivables and payables are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

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 value and the present value of estimated cash flows discounted at the assets 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 group 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 recognised in the balance sheet 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. At each reporting date non-financial assets not carried at fair value, such as property, plant and equipment are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less costs to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

ABER GROUP LIMITED (REGISTERED NUMBER: 14864644)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

Fixed asset investments
Fixed asset investments are valued at fair value unless fair value cannot be measured reliably, in which case investments are valued at cost less impairment.

The group have departed from the requirements of the Companies Act regarding the disclosure around investments in subsidiaries due to the detrimental impact it would have on the groups operations.

Cash at bank and cash in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Debtors
Short term trade debtors are measured at transaction price, less any impairment. A provision for impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due.

Creditors
Short term creditors are measured at the transaction price. Bank loans are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provision for liabilities
Provisions are recognised when the company has a present obligation (legal and constructive) from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

Functional and Presentation Currency
These financial statements are presented in pounds sterling because that is the currency of the primary economic environment in which the group operates (its functional currency).

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 for the year ended 30 June 2024 is given below:

£   
United Kingdom 474,665
Europe 2,573,576
United States of America 3,985,083
South America 380,887
Asia 750,801
Other 1,269,930
9,434,942

This analysis is not considered to be applicable to the year ended 30 June 2023.

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 3,611,840 2,813,677
Social security costs 339,636 351,324
Other pension costs 328,123 259,082
4,279,599 3,424,083

ABER GROUP LIMITED (REGISTERED NUMBER: 14864644)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2024 2023

Manufacturing 22 19
Office Staff 54 46
Aber Inc 6 6
82 71

The average number of employees by undertakings that were proportionately consolidated during the year was 82 (2023 - 71 ) .

2024 2023
£    £   
Directors' remuneration 752,069 312,485
Directors' pension contributions to money purchase schemes 59,498 18,469

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 106,329 118,859
Pension contributions to money purchase schemes 15,395 7,753

5. OPERATING PROFIT

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

2024 2023
£    £   
Other operating leases 3,082 16,768
Depreciation - owned assets 314,887 296,280
Goodwill amortisation 74,288 98,616
Patents and licences amortisation 5,634 6,685
Auditors' remuneration 20,000 12,000
Foreign exchange differences (85,470 ) 112,242

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 48,405 352,379

Deferred tax - 5,444
Tax on profit 48,405 357,823

ABER GROUP LIMITED (REGISTERED NUMBER: 14864644)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

6. TAXATION - continued

Tax effects relating to effects of other comprehensive income

2024
Gross Tax Net
£    £    £   
Sale of Shares 103,752 - 103,752
Donations to EBT 260,000 - 260,000
Purchase of Own Shares (547,395 ) - (547,395 )
(183,643 ) - (183,643 )

2023
Gross Tax Net
£    £    £   
Sale of Shares 155,265 - 155,265
Donations to EBT 195,000 - 195,000
Purchase of Own Shares (76,153 ) - (76,153 )
274,112 - 274,112

7. 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.


8. DIVIDENDS
2024 2023
£    £   
Ordinary shares of 0.01 each
Final 174,791 117,801

ABER GROUP LIMITED (REGISTERED NUMBER: 14864644)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

9. INTANGIBLE FIXED ASSETS

Group
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 1 July 2023 986,160 60,173 1,046,333
Disposals (399,155 ) - (399,155 )
At 30 June 2024 587,005 60,173 647,178
AMORTISATION
At 1 July 2023 318,941 18,943 337,884
Amortisation for year 74,288 5,634 79,922
At 30 June 2024 393,229 24,577 417,806
NET BOOK VALUE
At 30 June 2024 193,776 35,596 229,372
At 30 June 2023 667,219 41,230 708,449

10. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Plant and and
property Machinery fittings
£    £    £   
COST
At 1 July 2023 3,366,632 1,263,646 426,435
Additions 878,624 105,129 51,338
At 30 June 2024 4,245,256 1,368,775 477,773
DEPRECIATION
At 1 July 2023 356,853 859,798 310,981
Charge for year 118,127 103,999 52,013
At 30 June 2024 474,980 963,797 362,994
NET BOOK VALUE
At 30 June 2024 3,770,276 404,978 114,779
At 30 June 2023 3,009,779 403,848 115,454

ABER GROUP LIMITED (REGISTERED NUMBER: 14864644)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

10. TANGIBLE FIXED ASSETS - continued

Group

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023 93,780 361,205 5,511,698
Additions - 43,378 1,078,469
At 30 June 2024 93,780 404,583 6,590,167
DEPRECIATION
At 1 July 2023 21,882 307,149 1,856,663
Charge for year 9,378 31,370 314,887
At 30 June 2024 31,260 338,519 2,171,550
NET BOOK VALUE
At 30 June 2024 62,520 66,064 4,418,617
At 30 June 2023 71,898 54,056 3,655,035

11. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
Additions 20,615
At 30 June 2024 20,615
NET BOOK VALUE
At 30 June 2024 20,615

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiary

Aber Instruments Ltd
Registered office:
Nature of business: Manufacture of electronic industrial equipment
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 15,047,909 14,495,280
Profit for the year 911,063 2,442,751


ABER GROUP LIMITED (REGISTERED NUMBER: 14864644)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

12. STOCKS

Group
2024 2023
£    £   
Stocks 3,359,434 3,136,845

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
2024 2023
£    £   
Trade debtors 1,756,270 2,149,673
Other debtors 215,453 159,486
VAT 89,934 150,755
Prepayments 84,795 134,705
2,146,452 2,594,619

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade creditors 179,560 416,956 - -
Amounts owed to group undertakings - - 5,001 -
Tax 53,651 171,725 - -
Social security and other taxes 113,744 102,271 - -
Other creditors 78,904 416,925 - -
Accrued expenses 511,798 996,792 - -
937,657 2,104,669 5,001 -

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group
2024 2023
£    £   
Other creditors 89,637 439,462

16. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax 241,013 241,013

ABER GROUP LIMITED (REGISTERED NUMBER: 14864644)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

16. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Balance at 1 July 2023 241,013
Balance at 30 June 2024 241,013

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,061,517 Ordinary 0.01 20,615 20,615

18. RESERVES

Group
Retained Share Treasury Other
earnings premium Shares reserves Totals
£    £    £    £    £   

At 1 July 2023 13,312,548 112,556 (4,208 ) 1,121,445 14,542,341
Profit for the year 1,397,167 1,397,167
Dividends (174,791 ) (174,791 )
Purchase of own shares - (93,487 ) (1,005 ) (545,872 ) (640,364 )
Unvested SIP shares - - 140 - 140
Sale of shares - - 216 102,878 103,094
Donations to EBT - - - 260,000 260,000
At 30 June 2024 14,534,924 19,069 (4,857 ) 938,451 15,487,587

Company
Retained
earnings
£   

Profit for the year -
At 30 June 2024 -


ABER GROUP LIMITED (REGISTERED NUMBER: 14864644)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

19. CONTROL

The company is controlled by an Employee Ownership Trust that holds the majority (55%) of shares in Aber Group Ltd. The Employee Ownership Trust is a static entity that always holds the controlling interest in order to ensure that the employees own the company and that government's criteria for employee ownership is always met.

The trustee of the Employee Ownership Trust is a corporate trustee called Aber Instruments Trustees Limited. This company is run by up to three directors, one of which represents the employees and carries the casting vote.

Aber Instruments Trustees Limited is also the corporate trustee for the Employee Benefit Trust and the Share Incentive Plan. These entities allow for the buying and selling of shares between employees and these two trusts. This allows employees to invest directly in their company, Aber Instruments Limited.

The Employee Benefit Trust (EBT) is viewed as an Intermediate payment arrangement per accounting legislation FRS102, within the standard it states that these arrangements result in the sponsoring entity (Aber Group Limited) having de facto control.

Per FRS 102 a parent organisation shall prepare consolidated financial statements that include the parent and any Special Purpose Entities that are controlled by the parent, as the entity is regarded as having de facto control over the Employee Benefit Trust, there is the requirement to recognise the assets and liabilities held by the EBT. The financial statement therefore include the results of the Aber Instruments Limited and the Employee Benefit Trust.