Decom Engineering Ltd

Decom Engineering Ltd is a small, active company based in Cookstown, Northern Ireland, established thirteen years ago in 2011. With twelve employees and £1,760,507 in assets, it operates from a real address and is managed by six directors, although no owners are officially listed. The company regularly imports machinery, boilers, and mechanical appliances, parts (with four months of recent import activity), and occasionally exports similar items (with one month of export activity recorded).

The company's website, infodecomengineering.com, details its focus on providing decommissioning solutions for the offshore energy sector. It specializes in designing and fabricating patented cutting solutions, offering a range of equipment like the C1 Chopsaw series and pipe coating removal machines. The company caters to markets including oil and gas, renewables, and infrastructure, emphasizing innovation and sustainability. They’re even boasting over 261 projects completed and a presence in fourteen countries.

Financially, Decom Engineering Ltd shows some concerning trends. Current assets decreased by a significant 29%, dropping to £1.8 million, while net assets plummeted 70%, leaving a negative balance of £1.2 million. Bank borrowings increased by 35%, reaching £18,000, and cash reserves fell 81%, leaving just £300,000. Creditors, however, decreased by 6.2%, which could indicate improved management of short-term liabilities. The company meets the criteria for a small business, with turnover less than £10.2 million, assets under £5.1 million, and fewer than 50 employees. No auditor is listed, which is common for small companies exempt from an audit.

The sharp decline in equity and cash reserves is a cause for concern, suggesting the company may be burning through money faster than it's generating revenue. While the company's focus on specialized decommissioning solutions and global reach is promising, the financial pressures will need to be addressed to ensure long-term viability.

Registered in Northern Ireland under the registration number NI608292, with a registered address at BT1 5GB, Northern Ireland, Belfast, 7 Donegall Square North.

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