Castle Precision Engineering (glasgow) Limited

Castle Precision Engineering Glasgow Ltd, based in Lanarkshire, UK, is a well-established engineering firm with a 61-year history. Employing 95 people, the company boasts significant assets of £9.28 million and generates an annual revenue of £23.97 million. With a Google rating of 5.0 based on 21 reviews, it’s a highly-regarded business. The company operates from a real address and is overseen by four directors and two owners.

Castle Precision specializes in precision engineering services, particularly in the aerospace, defence, and petrochemical sectors. It’s a manufacturer of critical components, emphasizing quality machines, tooling, and skilled personnel. The company’s website highlights its capabilities, including plant lists, toolmaking, and assembly, catering to clients seeking turnkey solutions. They’re also involved in importing and exporting machinery, boilers, and mechanical appliances, with a consistent record of both activities over the past several years.

Financially, Castle Precision Engineering presents a mixed picture. While turnover increased by a solid 25%, reaching £24 million, net assets declined by 15% to £9.6 million. Bank borrowings increased substantially by 600%, reaching £170,000, while cash reserves decreased by 21% to £4.8 million. Trade debtors rose by 70%, suggesting potential challenges in collecting payments, and creditors increased by 18%, indicating a higher level of short-term liabilities. The company's size, meeting two of three criteria for a large company, suggests it’s navigating the complexities of growth. The lack of a named auditor is typical for a company of this size.

The increase in administrative expenses by 11% could be a sign of expanding operations, while the decrease in accrued liabilities by 25% may indicate better financial management. Overall, Castle Precision Engineering seems to be a robust business, but the declining net assets and rising debt levels warrant close monitoring.

Registered in Scotland under the registration number SC039355, with a registered address at G45 9SZ, Lanarkshire, 241 Drakemire Drive, Glasgow.

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