Drilcorp Limited

Drilcorp Ltd from Seaham, UK, is a small, family-run business with an active status, celebrating 33 years since its founding in 1992. Employing 35 people, the company holds £1,687,800 in assets and operates from a real address. With four directors and two owners, Drilcorp has a solid 5.0 Google rating based on 18 reviews, a testament to its customer service. The company regularly imports machinery, boilers, and mechanical appliances, with a recent import operation recorded in December 2024.

Drilcorp’s core business lies in specialised construction activities, and the company’s website, while minimal, suggests a focus on drilling and related services. The site highlights expertise in areas like ground investigation and specialist drilling techniques. It’s a relatively low-key online presence, indicating a focus on direct client relationships rather than extensive digital marketing.

Financially, Drilcorp’s numbers present a mixed picture. Current assets have fallen by 24%, dropping to £1,600,000, while net assets have increased by 5.3%, reaching £2,100,000. Bank borrowings have decreased by 47%, sitting at £420,000, and cash reserves have increased by 100%, reaching £820,000. Trade debtors have seen a significant decrease, falling by 81%, which could indicate improved collection practices. However, creditors have increased by 1300%, reaching £240,000, which might be a result of increased investment or supplier agreements. The company qualifies as small, meeting two of three criteria: turnover under £10.2 million, assets under £5.1 million, and fewer than 50 employees. As a small company, it’s exempt from a full audit, so the figures are unaudited.

Overall, Drilcorp appears to be navigating a period of change. While asset values have decreased, the company’s cash position has improved considerably, suggesting a period of financial stability. The decrease in trade debtors is a positive sign, but the increase in creditors warrants monitoring. The company’s long-standing presence and positive Google rating indicate a resilient business model, but future success will depend on managing its financial obligations and adapting to the evolving construction landscape.

Registered in England/Wales under the registration number 02691886, with a registered address at SR7 8SW, Seaham, Co.Durham, Kinley Hill Farm, Hawthorn.

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