Oiltech Bearings Ltd

Oiltech Bearings Ltd, based in Newcastle Upon Tyne, UK, is a small, active family business founded six years ago. With five employees and £96,836 in assets, it operates from a real address and is overseen by three directors and four owners. The company regularly imports machinery, boilers, and mechanical appliances, parts (8 months imported), and exports the same items (14 months exported). It’s a regular importer and exporter.

Oiltech’s website highlights its specialization in hydrodynamic bearings, offering manufacturing, repair, and technical support services. It caters to industries like oil and gas, power generation, and marine, providing everything from custom manufacturing to bearing restoration and even disaster recovery for damaged pianos. The company’s core business involves manufacturing and repairing bearings, but the website also showcases a division dedicated to high-end piano restoration, hinting at a diverse range of expertise.

Financially, Oiltech’s recent performance presents a mixed picture. While current assets decreased by 8.5% to £97,000, net assets experienced a significant drop of 80%, plummeting to just £7,500. Bank borrowings increased, and cash reserves declined considerably. Creditors, however, rose by 56%, suggesting potential investment or expansion. The company meets the criteria for a small business, with turnover less than £10.2 million, balance sheet total less than £5.1 million, and fewer than 50 employees. The lack of an auditor mentioned likely reflects its status as a small, exempt company.

The company’s financial data suggests a period of adjustment, with a decrease in equity raising questions about its long-term stability. However, its diverse service offerings and established presence in specialized industries could provide a buffer against financial pressures. It’s clear that Oiltech is navigating a period of change, and its ability to leverage its expertise and adapt to market conditions will be crucial for its future success.

Registered in England/Wales under the registration number 11479581, with a registered address at NE13 7GD, England, Newcastle Upon Tyne, Unit 3 Browns Park Brunswick Industrial Estate, Brunswick Village.

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