International Superyacht Coatings Limited

International Superyacht Coatings Limited is a small, holding company based in Falmouth, UK, with an active status. Founded eighteen years ago, the company employs just two people and holds assets valued at £2,099,830. It operates from a virtual address, registered at a location shared by sixteen other companies, raising some questions about its physical presence. A single director and owner are at the helm. The company regularly imports machinery, boilers, and mechanical appliances, parts, with the last import operation occurring three months ago. It also exports these items, albeit irregularly, with the last export recorded two months ago.

The company’s website, Super Yacht Coatings, reveals a specialized business focused on painting and fairing super yachts. Operating from Tauranga, New Zealand, the company emphasizes high-quality workmanship and caters to both new builds and refits. It even manages a showroom in Harrods, London, showcasing its piano restoration division – a separate venture, 1066 Pianos, that adds a layer of complexity to the overall business.

Financially, International Superyacht Coatings Limited presents a mixed picture. While cash reserves remained steady at £1,200,000, net assets declined by 10% to £600,000. Bank borrowings decreased by 29%, reaching £120,000, which is a positive sign. However, trade debtors increased significantly by 120%, suggesting potential issues with customer payments. The company’s small size—meeting two of three criteria for being a small company—allows for agility, but the increase in debtors needs to be monitored. The company is exempt from an audit, so the financial statements are unaudited.

The surge in trade debtors and the decline in net assets are concerning, and it’s possible the company is burning through cash to maintain operations. The dual nature of the business—super yacht coatings and piano restoration—could be a source of strength or a distraction, depending on how effectively they are integrated.

Registered in England/Wales under the registration number 06052380, with a registered address at TR11 5GH, Falmouth, Cornwall, 71 Trenoweth Road.

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