British Drilling And Freezing Company Limited

British Drilling And Freezing Company Ltd from Nottingham UK: a small company with an active status, was founded 35 years ago. It employs 22 people and holds £694,254 in assets. The company has two directors and two owners, and enjoys a perfect 5.0 Google rating based on ten reviews. It's an irregular importer of machinery, boilers, and mechanical appliances; parts, with just one month of imports recorded going back to September 2016.

The company operates in the extraction of crude petroleum industries, a niche sector. It qualifies as a small company, meeting two of three conditions: turnover under £10.2 million, balance sheet total under £5.1 million, and fewer than 50 employees. The registered address is real, with only three companies registered at the same location. The company is owned by Mew Howard William and Wheelhouse Peter James, who are also the directors.

Looking at the financial data, there's a mixed picture. Current assets have fallen significantly, dropping 62% to £690,000, while net assets have halved to £1 million. Cash reserves are down 87%, plummeting to just £90,000. Bank borrowings have increased, and trade debtors are up 42%. However, creditors have decreased by 26%, suggesting better management of short-term liabilities. The company’s equity has also decreased by 50%, a significant drop that could be linked to losses or increased investment. The lack of an auditor (likely exempt due to its small size) means these figures are unaudited.

The sharp decline in cash reserves and equity is concerning, potentially indicating the company is burning through money faster than it’s generating revenue. The increase in trade debtors could be a sign of customers taking longer to pay, adding further pressure. However, the decrease in creditors suggests the company is managing its short-term debt obligations effectively. It's worth noting that the company's small size allows for agility, but the financial trends raise questions about its long-term sustainability.

Registered in England/Wales under the registration number 02409264, with a registered address at NG4 2BB, Nottingham, Colwick Industrial Estate, Colwick.

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