Ocean Kinetics Limited

Ocean Kinetics Ltd, based in Shetland, UK, is a large, active company established 28 years ago. Employing 74 people, the firm holds £7,240,302 in assets and generates £17,252,607 in yearly revenue. With three directors and one owner, Henderson John, the company operates from a real address and manages a subsidiary, Norn Limited. It's a regular importer and exporter of machinery, boilers, and mechanical appliances; parts, with 15 months of import activity and 5 months of export activity recorded.

The company’s core business revolves around engineering, fabrication, welding, diving, and machining services. They cater to a variety of sectors, including energy, renewables, marine works, aquaculture, and decommissioning. Their website showcases a wide range of capabilities, from structural steelwork and pipework fabrication to diving services and plant hire. Notably, they’ve developed bespoke pipeline pig handling equipment, demonstrating their ability to provide tailored solutions. They also have a shop and stores stocking high-quality sheet steel, tools, and equipment.

Financially, Ocean Kinetics Ltd presents a mixed picture. While revenue is impressive, some key metrics indicate potential challenges. Accrued liabilities and deferred income have increased significantly, by 110%, suggesting a build-up of outstanding payments. Bank borrowings have also seen a slight increase, although cash bank on hand has jumped dramatically, by 1300%, to £190,000. Despite this, administrative expenses have risen by 9.5%, and the company has experienced a decrease in dividends paid, by 63%. The company’s large size (meeting two of three criteria for turnover over £36 million, balance sheet total over £18 million, and average number of employees over 250) means it’s subject to more scrutiny, and the fact that the accounts are audited by The Kelvin Partnership Ltd adds a layer of assurance.

The company’s success hinges on its ability to maintain its diverse range of services and capitalize on opportunities in the energy and renewables sectors. The recent expansion of its operations in Orkney, creating up to five new jobs, suggests a commitment to growth—but the rising costs and increased liabilities will need careful management.

Registered in Scotland under the registration number SC171923, with a registered address at ZE1 0TW, Shetland, Ocean Kinetics Limited Port Business Park, Gremista, Lerwick.

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