Ocean Work Systems Limited

Ocean Work Systems Ltd, based in Westhill, UK, is a small, active family business established twenty years ago. Employing six people, the company holds £3,156,950 in assets and operates from a real address. With three directors and two owners, it's a tight-knit operation. The company regularly imports machinery, boilers, and mechanical appliances – parts, with 5 months of import activity recorded, and exports electrical machinery and equipment, with 16 months of export activity.

The company’s website highlights its role as a provider of equipment rental and personnel services to the subsea sector of the oil and gas industry. Since starting operations in May 2009, it has recorded over a million hours with no lost time incidents, a point of considerable pride. The company has 120 offshore personnel and operates from the South Fornet Business Centre. It’s clear the business is focused on marine recruitment, with a strong emphasis on safety and reliability.

Financially, Ocean Work Systems Ltd presents a mixed picture. Cash bank holdings increased significantly by 35%, reaching £1,300,000, and current assets rose by 44% to £3,200,000. However, creditors have increased considerably, rising by 100% to £1,400,000. Trade debtors also increased by 48% to £1,800,000. Equity increased by 10% to £2,800,000. These figures suggest the company is growing, but also taking on more debt. 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 be flexible, but the rise in debt should be monitored. The company is exempt from audit as a small company, so the financial information is unaudited.

Registered in Scotland under the registration number SC279560, with a registered address at AB32 7BS, Westhill, Terryvale House, Dunecht.

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