Drillco Europe Ltd

Drillco Europe Ltd from Leigh UK: a small company with an active status, was founded nine years ago in January 2016. Accounts are currently overdue by six months, and the company employs four people. It holds assets totaling £2,319,422 and has a real address at Unit A11(1), Kenyon Court Walter Leigh Way, Moss Industrial Estate. There’s one director, but no owners are currently reported. The company regularly imports basic metal tools and utensils, with 12 months of import activity recorded, and exports machinery, boilers, and mechanical appliances; parts, with five months of export activity.

It’s a small company, meeting two of three conditions: turnover less than £10.2 million, balance sheet total less than £5.1 million, and fewer than 50 employees. The company operates in the support activities for other mining and quarrying, and engineering design activities for industrial process and production industries. The company is a regular importer, with its top import category being Basic metal tools and utensils, totaling 12 months of imports. The last import operation was conducted on December 01, 2024. The company is a regular exporter, with its top export categories including Machinery, boilers, and mechanical appliances; parts, totaling 5 of months exports. The last export operation took place on November 01, 2019.

Looking at the financials, there's a mixed picture. Bank cash has increased significantly, by 77%, to £110,000, which is good. However, net assets have fallen dramatically, a 350% decrease to -£92,000. This is a big change. Trade debtors have also increased substantially, by 23%, reaching £2.2 million, which could indicate delayed payments or an expansion of credit terms. Creditors have increased too, by 17%, to £1.7 million. The number of employees has decreased by 25%, down to three. It’s worth noting that the company is exempt from an audit as a small company, so the figures are unaudited.

Overall, Drillco Europe Ltd seems to be navigating a period of change. While cash reserves are up, the decrease in net assets and increase in debt suggests the company is burning through money. Whether this is a temporary setback or a longer-term trend remains to be seen, but it’s something to watch closely. The company’s reliance on a single director and lack of reported owners could also be a potential management risk.

Registered in England/Wales under the registration number 09962440, with a registered address at WN7 3PT, England, Leigh, Unit A11(1), Kenyon Court Walter Leigh Way, Moss Industrial Estate.

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