Pict Offshore Limited

Pict Offshore Limited, based in Inverkeithing, UK, is a small, active company founded six years ago in 2019. Employing 26 people and boasting a real address at Belleknowes Industrial Estate, it operates with five directors, though no owners are officially listed. The company regularly imports optical and medical tools and devices, having done so for six months, and exports electrical machinery and equipment for ten months.

The company’s primary focus is the development, building, selling, and supporting innovative access, lifting, and height safety solutions for the offshore wind energy sector. Its flagship product, the Get Up Safe system, is a heave-compensated personnel hoist aimed at transforming maintenance access to offshore wind turbines. Systems are assembled and tested in Fife, Scotland, and deployed at windfarms in the UK and USA, replacing boat landings.

Financially, Pict Offshore Limited’s numbers show some concerning trends. Accumulated amortisation impairment intangible assets grew by 28%, and property plant equipment depreciation increased by 38%. The number of employees has also increased by 31%, to 34. However, cash bank on hand has seen a significant jump, up 110% to £1.1 million. Creditors have decreased by 19%, and debtors have fallen by 54%, which could indicate better cash flow management. Equity, however, has declined by 28%, and net assets are down 40% to £2.5 million. Bank borrowings have decreased by 34%. The company meets two of three conditions to be considered small (turnover under £10.2 million, balance sheet total under £5.1 million, and fewer than 50 employees). As a small company, it’s likely unaudited.

Registered in Scotland under the registration number SC626437, with a registered address at KY11 1HZ, Inverkeithing, Unit 13-14 Belleknowes Industrial Estate.

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