Farra Marine Uk Ltd

Farra Marine Uk Ltd is a small, active company based in Downpatrick, Northern Ireland, established three years ago in 2021. With 22 employees and £630,281 in assets, it operates from a real address shared by only two other companies. Officially, there are no listed owners, though three directors manage the business. The company is an irregular importer, primarily dealing in aluminum and aluminum products, with the last import operation occurring in March 2024.

Farra Marine Limited is a specialist crew transfer vessel (CTV) owner and operator focused on the UK and European offshore wind sector. It boasts a fleet of fourteen 27m CTVs, all built within the last three years, capable of carrying 24 passengers and offering a range of offshore services, including technician transfers, cargo handling, and support for diving and survey operations. The company emphasizes its experienced team, modern fleet, and commitment to sustainability. It’s clearly focused on providing services to the offshore wind industry, with a website showcasing its fleet, services, and contact information.

Financially, Farra Marine Uk Ltd is experiencing rapid growth, but also facing increased costs. Cash reserves have surged 160% to £76,000, and current assets have more than doubled to £630,000—a positive sign. However, bank borrowings have also increased significantly, with amounts owed to group undertakings rising 160% to £490,000. Average employee numbers have more than doubled to 57, suggesting a need for more staff, but also potentially higher payroll expenses. Creditors have also risen by 76% to £240,000. 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 agility, but the increased debt and employee count will need to be managed carefully. The company’s financial statements were unaudited, relying on director-reported data.

Registered in Northern Ireland under the registration number NI682128, with a registered address at BT30 7RD, Northern Ireland, Downpatrick, 4 Kennedy Park, Killough.

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