Hutcheon Services Limited

Hutcheon Services Ltd from Aberdeen UK: a medium-sized company, holding company, and active status, was founded 44 years ago in 1980. It employs 184 people and holds assets worth £7,613,133, generating a yearly revenue of £21,603,311. The company operates from a virtual address, managed by seven directors and one owner, and boasts a stellar 5.0 Google rating based on 11 reviews. It’s an irregular importer of ships, boats, and floating structures, with recent activity in January 2024.

Hutcheon Services Ltd primarily delivers electrical, sheet metal, fabrication, air conditioning, plumbing, heating, ventilation, network cabling, and telecom services. The company, originally established in 1974, employs over 170 skilled tradesmen, apprentices, management, technical, and administrative staff from its base in Altens. It prides itself on traditional craftsmanship, combined with modern technology and management, allowing it to handle large contracts and smaller jobs. Attributes like quality and reliability have earned it an enviable reputation as a subcontractor working closely with main contractors and clients. The workforce includes electricians, plumbers, heating engineers, and a modern sheet metal workshop, operating as a proficient team in a demanding industry. The company enlists apprentices within all divisions, ensuring a skilled workforce. The directors have created a blend of skills helping to retain a diverse range of clients throughout the industrial, commercial, and building industries. The organization provides advice and carries out full design and CAD drawing facilities, installing contracts tailored to clients, from concept to completion.

Financially, Hutcheon Services Ltd shows a mixed picture. While turnover increased, the company’s net assets decreased by 32%, falling to £2.3 million. Creditors also increased significantly, rising by 40% to £6 million. However, cash on hand saw a substantial boost, increasing by 270% to £2.5 million. The company’s average number of employees remained steady at 180. The company’s bank borrowings decreased, a positive sign, and administration expenses decreased slightly. The company has been under the control of its directors, and the balance due by members of the Hutcheon Investments Limited group of companies was £2.065 million. The company’s auditor, FourM Limited, has reported that the financial statements give a true and fair view.

Overall, Hutcheon Services Ltd appears to be navigating a period of change. While the company’s revenue is strong, the decline in net assets and increase in creditors suggests it’s burning through money, although the increase in cash reserves provides some breathing room. The company’s long-standing reputation and diverse service offerings provide a solid foundation, but careful management will be needed to ensure long-term financial health.

Registered in Scotland under the registration number SC071884, with a registered address at AB10 1YL, United Kingdom, Aberdeen, 28 Albyn Place.

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