Nortech Marine Limited

Nortech Marine Ltd from Shetland, UK, is a small, active company founded 26 years ago in 1999. With 14 employees and £518,778 in assets, it's a solo-founded operation run by a single director and owner. The company is a irregular importer, primarily dealing with aluminum and aluminum products, with just one month of import activity recorded as of September 2023. It has a real address, registered at ZE1 0PX, Scotland, Shetland, Gremista Industrial Estate Gremista, Lerwick.

The company operates in the repair and maintenance of ships and boats, and the building of ships and floating structures. Its website, while not actively used for e-commerce, provides a basic overview of its services and contact information. Nortech Marine’s core business is focused on providing engineering and marine services to the local fishing and oil and gas industries.

Financially, Nortech Marine Ltd shows a mixed picture. Net assets increased by 7.1% to £760,000, while cash reserves rose by a substantial 67% to £76,000. Bank borrowings decreased by 13%, reaching £17,000, suggesting better debt management. Trade debtors increased by 21%, which could be a positive sign of growing sales, but also indicates a need to manage customer payments effectively. Creditors increased by 8%, which is not unusual with growing business activity. 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 it to remain nimble. With no auditor mentioned (likely exempt as a small company), the figures rely on unaudited statements.

Overall, Nortech Marine Ltd appears to be financially stable, with growing assets and improved cash flow. However, the increase in trade debtors warrants attention. The company’s long-standing presence in the Shetland Islands and its focus on essential marine services position it well for continued success, although it’s important to monitor its financial performance closely.

Registered in Scotland under the registration number SC195497, with a registered address at ZE1 0PX, Scotland, Shetland, Gremista Industrial Estate Gremista, Lerwick.

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