Coastal Workboats Ltd

Coastal Workboats Ltd, based in Honiton, UK, is a small, active family business established 14 years ago. With 22 employees and £1,789,435 in assets, it operates from a real address and is overseen by two directors and two owners. The company is irregular importer, with its top import category being Furniture, Lighting, and Prefabricated Buildings, totaling 1 months of imports. The last import operation was conducted on July 01, 2017.

Coastal Workboats specializes in the repair and maintenance of ships and boats, as well as the building of ships and floating structures. Its website highlights a focus on sustainable shipbuilding, particularly the UK’s first fully-electric workboat, the ELUV. The site showcases a range of products and services, including technical design, support, and maintenance, and promotes zero-emission solutions. The company’s website has a lot of pictures, but it doesn’t appear to be an e-commerce site.

Financially, Coastal Workboats Ltd’s recent performance is mixed. While cash reserves increased by a substantial 300% to £53,000, net assets decreased by 10% to -£180,000. Bank borrowings fell by 21% to £97,000, and creditors increased by a whopping 540% to £3,600,000. Depreciation expense for property and plant equipment surged by 730% to £85,000, suggesting increased investment in equipment. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) allows for flexibility, but the large increase in creditors could indicate a reliance on short-term financing. As a small company, it is exempt from an audit, so the numbers are unaudited.

Overall, Coastal Workboats Ltd appears to be navigating a period of change. While its focus on sustainable shipbuilding and innovative products is promising, the company will need to carefully manage its finances to ensure long-term success.

Registered in England/Wales under the registration number 07569031, with a registered address at EX14 1ST, England, Honiton, Devon, Unit 1 Western House Western Park, Devonshire Road.

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