Mainstay Marine Solutions Limited

Mainstay Marine Solutions Ltd from Pembroke Dock, UK, is a small, active company founded eleven years ago in 2014. Employing 55 people and boasting £2,543,064 in assets, it operates from a real address and is overseen by two directors, though there are no reported owners. The company maintains a solid 4.0 Google rating based on nine reviews. It’s a regular importer of machinery, boilers, and mechanical appliances, parts, with 11 months of import activity recorded, the latest in August 2024.

The company’s website showcases Mainstay Marine Solutions as a vessel builder and specialist marine engineering firm, actively involved in building ships and floating structures. It offers services ranging from new boat builds and refits to jetty and harbour infrastructure projects, and even marine energy device fabrication. Recent news highlights a change in ownership and the appointment of a new leadership team, along with an initiative to launch a UK-built Crew Transfer Vessel (CTV) solution. The company is also constructing a 20th offshore energy support vessel for Seacat Services.

Financially, Mainstay Marine Solutions Ltd presents a mixed picture. While cash reserves saw a significant boost, rising 190% to £780,000, net assets took a substantial hit, plummeting 86% to just £89,000. Bank borrowings increased considerably, reaching £220,000, and creditors surged 110% to £2,000,000—a notable increase. Despite this, debtors grew by 29% to £1,400,000, suggesting improved collections. The company’s small size (meeting two of three conditions for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) allows for flexibility, but the decline in equity warrants closer attention. As a small company, it’s exempt from an audit, so the figures are unaudited.

The company’s focus on shipbuilding and marine engineering, combined with its recent leadership changes, suggests a period of transition. Whether Mainstay Marine Solutions Ltd can navigate these changes and capitalize on the growing demand for UK-built vessels remains to be seen.

Registered in England/Wales under the registration number 08938325, with a registered address at SA72 6TE, Pembroke Dock, Pembrokeshire, The Dockyard.

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