Phuel Oil Tools Limited

Phuel Oil Tools Ltd, based in Aberdeen, UK, is a sizable company with a 20-year history, currently employing 16 individuals. Holding £3,258,762 in assets, it operates as a holding company with an active status. While it has a registered address, it's likely a virtual one, as 24 companies share the same location. The company is overseen by five directors and has one owner. It regularly imports machinery, boilers, and mechanical appliances—parts, with 19 months of import activity recorded, and exports iron or steel products, having done so for 262 months.

The company’s website highlights its focus on designing, building, and supplying bespoke Wireline Pressure Control Equipment. It emphasizes innovative design that reduces costs, improves safety, and offers certification to the highest level. Customer service and repeat business are key aims. The website also features news about its Phuel Dual Side Door Stripper Pressure Control Equipment, handling equipment, and a 2016 product catalogue.

Financially, Phuel Oil Tools Ltd shows some concerning trends. Accrued liabilities decreased significantly, falling 71% to £110,000, and bank borrowings vanished entirely, dropping 100% to zero. However, cash bank on hand increased dramatically, soaring 1000% to £22,000. Net assets, however, declined 24% to £1.5 million, and net loss deepened 113% to £360,000. Trade debtors also increased by 37%, suggesting potential issues with customer payments. The company’s size (meeting two of three criteria for a large company) and the lack of an auditor mentioned (likely exempt) mean the figures are unaudited.

In conclusion, Phuel Oil Tools Ltd appears to be navigating a period of financial change. While it maintains a focus on specialized equipment and customer service, the declining net assets and increased losses raise questions about its long-term sustainability.

Registered in Scotland under the registration number SC269131, with a registered address at AB10 6SD, Scotland, Aberdeen, Brodies House, 31-33 Union Grove.

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