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If the ABS light come on then goes off after a second or so when the cars started and it doesn't skin in tests (unlikly) then its fine.
Thew Mk1's ABS system isn't that good it might just have been slow to respond or your were driving to slow (under 10 or so MPH it doesn't work)
and that children is a lesson in flat spotting your tyres.
the bulbs probably been removed and the fuse will be pulled or somehtign in the system is in the technical term fucked, could be sensor or cracked reluctor ring etc