Abbey Glen Limited

Abbey Glen Limited, a large company based in Sheffield, UK, has been a fixture in the textile and fur product industries for over a century, founded way back in 1919. With 138 employees and £3,061,826 in assets, the business generated £9,417,107 in revenue last year. The company, currently active, is led by eight directors, including Sempers Timothy Youle, and owned by Sempers Timothy Youle. It holds a respectable 4.0-star rating on Google from 46 reviews.

The business operates as a provider of linen and workwear rental services, catering to hospitality, leisure, and industrial sectors. Its website showcases a dual operation: a core linen and workwear rental business and a high-end piano restoration division, 1066 Pianos, which even has a showroom in Harrods. This diversification suggests an ambition to serve both practical and luxury markets.

Financially, Abbey Glen Limited presents a mixed picture. While turnover remained steady, net assets decreased by 15% to £6,000,000. Bank borrowings increased significantly, rising by 170% to £1,500,000, and cash reserves fell 30% to £1,000,000. Creditors also increased by 20% to £2,300,000. The company's large size (meeting two of three criteria for a large company) and the decrease in equity raises questions about its financial health. The company's auditor is Hebblethwaites, and the financial statements were prepared in accordance with UK Generally Accepted Accounting Practice.

The increase in bank borrowings, coupled with the decrease in cash reserves, suggests the company may be burning through money. However, the steady turnover and the dual business model—with the prestigious piano division—offer some resilience. It’s likely the company is investing in growth, but the financial numbers warrant close monitoring.

Registered in England/Wales under the registration number 00159202, with a registered address at S20 8NQ, England, Sheffield, Youle House Carley Drive, Westfield.

WARNING:The numbers have been rounded for simplicity and may be inaccurate.Please, refer to the latest financial report for verification.