Penny Engineering Limited

Penny Engineering Ltd, based in Clowne, UK, is a family-owned holding company with a solid 46-year history. Employing around 100 people, the company boasts assets of £6,195,379 and maintains a real address, indicating a tangible presence. Five directors and five owners steer the business, which has earned a stellar 5.0 rating on Google based on 13 reviews. The company regularly imports and exports machinery, boilers, and mechanical appliances, parts, with a substantial 37-month import history and a longer 154-month export record.

The company’s website showcases a diverse range of products and services, primarily focused on lifting and handling equipment. It’s not a typical e-commerce site; instead, it functions as an information hub and sales portal, highlighting core products like vehicle-mounted cranes, workshop cranes, and lighting winch systems. The site also features a dedicated section for Penny Nuclear, offering specialized lifting solutions for the nuclear industry, and a subsidiary, Sidetracker Engineering, focusing on multi-directional forklift trucks. The website also includes a blog and case studies, reinforcing their expertise.

Financially, Penny Engineering Ltd appears to be navigating a period of change. While cash bank on hand increased by a significant 31% to £2,600,000, net assets decreased by 2.1% to £7,400,000. Creditors decreased by 22% to £1,900,000, which could indicate improved debt management, but trade debtors also fell by 22% to £1,000,000. The average number of employees decreased by 10%, from 100 to 90, which could be a result of restructuring or changing market conditions. The company’s retained earnings decreased by 75% to £230,000, suggesting that profits weren’t reinvested into the business. The unaudited accounts, overseen by Shorts, highlight the company’s ongoing operations but also point to a need for careful financial management. The company’s long history and family ownership, combined with its diverse product range, suggest a resilient business model, but the recent financial trends warrant close attention.

Registered in England/Wales under the registration number 01380206, with a registered address at S43 4AB, United Kingdom, Clowne, Derbyshire, Station Road Industrial Estate, Station Road.

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