Kraken Subsea Limited

Kraken Subsea Ltd, based in Aberdeen, UK, is a small, active company founded six years ago in 2019. Employing just three people, it holds £1,534,793 in assets and operates from a real address. The company has two directors but no officially reported owners, a common situation for smaller entities. It’s an irregular importer of iron or steel products, with just one month of import activity recorded, but a regular exporter of machinery, boilers, and mechanical appliances, boasting eighteen months of export activity.

The company’s website highlights its focus on developing new pre-commissioning solutions for offshore projects. Kraken Subsea positions itself as a provider of filtration, chemical injection, pressure testing, and datalogging services, catering to the oil and gas industry. It offers both standard products and bespoke solutions, emphasizing innovation and efficiency. The site also features a section on valued clients, including Subsea 7 and Baker Hughes, suggesting a network of established partnerships.

Financially, Kraken Subsea Ltd shows a mixed picture. Cash bank holdings have increased dramatically by 180% to £1,000,000, while creditors have surged by 260% to £610,000. Trade debtors have also doubled to £470,000, which could indicate challenges in collecting payments. On a positive note, equity has increased by 140% to £1,300,000, suggesting retained earnings are building up. 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 increase in liabilities is something to keep an eye on. The financial statements are unaudited, and no auditor is mentioned, which is typical for small companies.

Overall, Kraken Subsea Ltd appears to be growing, but it’s also taking on more debt. Whether this is a sustainable strategy remains to be seen—but the company’s focus on innovation and its established client base suggest it has potential.

Registered in Scotland under the registration number SC625056, with a registered address at AB15 6BL, Scotland, Aberdeen, 2nd Floor, H1 Hill Of Rubislaw.

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