Hyspec Engineering Limited

Hyspec Engineering Ltd from Ayrshire UK: a large company with an active status, was founded fifteen years ago. Employing eighty-nine people, it holds £3,074,926 in assets and operates from a real address. The company is led by three directors and owned by one individual, boasting a perfect 5.0 Google rating based on six reviews. Regularly importing iron or steel products for ten months, it also exports machinery, boilers, and mechanical appliances—parts for ninety-seven months.

The company’s website highlights its role as a leading manufacturer of precision machining parts, kits, and assemblies. Hyspec Engineering has been satisfying the engineering needs of clients for over three decades, using skilled workers and sophisticated tools to provide a one-stop shop for precision machining. They serve sectors including aerospace, defence, renewables, nuclear, oil, gas, and power. The website’s emphasis on responsiveness, reliability, and client relationships suggests a focus on building long-term partnerships.

Financially, Hyspec Engineering’s report shows a mixed bag. While administrative expenses increased by a modest 1.9% to £2.8 million, cash bank on hand rose a healthy 61% to £41,000. However, current assets experienced a significant drop of 30% to £3.1 million, and net assets plummeted 48% to -£480,000. Bank borrowings decreased slightly to £28,000, and staff costs fell by 4.8% to £3.5 million. The company’s size (meeting two of three criteria for a large company) and the decrease in administrative expenses are positive signs, but the substantial equity decline warrants further investigation. The company’s auditors, William Duncan + Co (Audit) Ltd, have provided an unaudited report.

Overall, Hyspec Engineering appears to be navigating a period of change. While its core business remains strong, the financial figures suggest a need for careful management and a focus on improving profitability. The company’s long-standing reputation and diverse client base provide a solid foundation for future success, but it will need to address the current financial challenges to ensure its long-term viability.

Registered in Scotland under the registration number SC371408, with a registered address at KA3 5AJ, Ayrshire, Rigg Street, Stewarton.

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