Marine Inspection Services Limited

Marine Inspection Services Ltd, based in Dorchester, UK, is a small, active company founded 19 years ago. With 12 employees and £940,312 in assets, it operates from a real address and is overseen by three directors and one owner. The company irregularly imports aircraft, spacecraft, and their parts (last import July 2024) and exports electrical machinery and equipment (last export July 2022).

The company's website highlights its expertise in marine surveying, offering services like ultrasonic testing, hull condition surveys, and drone inspections. It caters to a global clientele, with a particular focus on high-end piano restoration through its 1066 Pianos division, operating from Cambridge and even boasting a showroom in Harrods. The website emphasizes quality, British craftsmanship, and a commitment to customer support.

Financially, Marine Inspection Services Ltd shows some concerning trends. While current assets increased by 33% to £940,000, net assets also grew by 30% to £950,000, bank borrowings decreased by 62% to £6,200, and cash reserves fell 60% to £230,000. Creditors, however, surged by 290% to £110,000—a significant increase. Trade debtors also jumped by 490% to £710,000, suggesting potential issues with customer payments. 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 flexibility, but the increase in debt and decrease in cash raises questions about its financial health. As a small company, it’s exempt from an audit, so the figures are unaudited.

Overall, Marine Inspection Services Ltd appears to be navigating a period of change. While its core surveying business seems robust, the financial data suggests it’s burning through cash and relying more on credit. Whether this is a temporary setback or a longer-term challenge remains to be seen.

Registered in England/Wales under the registration number 05697638, with a registered address at DT2 8QJ, England, Dorchester, Dorset, Unit 9 Higher Bockhampton.

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