Offshore Turbine Services Limited

Offshore Turbine Services Ltd, based in Hereford, UK, is a small, active company founded thirteen years ago in 2011. With fifteen employees and £610,699 in assets, it operates from a real address on the Westwood Industrial Estate. The company is run by three directors and two owners, and its status is active. It regularly imports machinery, boilers, and mechanical appliances – parts, with seven months of import activity recorded, the last in February 2024. It also exports the same items, with six months of export activity, the last in December 2024.

The company’s website highlights its role in providing transport services to offshore work sites, utilizing a fleet of versatile vessels. It emphasizes its Integrated Management System, ensuring quality, safety, and environmental protection, and boasts ISO 9001, ISO 14001, ISO 45001, and ISM Code accreditations. It’s clear the company’s focus is on reliable and efficient offshore logistics.

Financially, Offshore Turbine Services Ltd shows a mixed picture. Current assets have decreased by 29% to £610,000, while net assets have fallen 22% to £620,000. Bank borrowings have increased by 2,400%, reaching £29,000, and cash reserves fell 47% to £130,000. Creditors have decreased by 63%, suggesting better debt management. The company's small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) helps it remain agile, but the drop in equity raises some concerns. The lack of an auditor mentioned (likely exempt as a small company) means the figures are unaudited.

While the company is clearly active in the offshore transport sector, the financial data suggests it might be burning through cash. The increase in bank borrowings, coupled with the decrease in cash reserves, indicates a need for careful financial management. Whether this is a temporary setback or a longer-term trend remains to be seen, but the company's reputation for quality and safety should help it navigate these challenges.

Registered in England/Wales under the registration number 07810860, with a registered address at HR2 0EL, Hereford, Unit 5 Westwood Industrial Estate, Pontrilas.

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