Precision Engine Services Ltd.

Precision Engine Services Ltd, based in Inverness, UK, is a small, family-run business with an active status, having been founded fourteen years ago in 2011. The company employs eight people and holds £186,670 in assets. With two directors and two owners, it operates from a real address at 23 Henderson Drive. Precision Engine Services has a stellar 5.0 Google rating based on 33 reviews. It's an irregular importer, primarily dealing in machinery, boilers, and mechanical appliances, with its last import operation recorded two months ago in April 2023.

The company’s website details a long-established business providing engine reconditioning services across northern Scotland. From Uist to Shetland, Precision Engine Services caters to a wide range of clients, specializing in engine reconditioning, turbocharger repairs, and even marine applications. It’s a modern, well-equipped company, but retains a focus on quality workmanship and meeting deadlines. The website also highlights a separate venture, 1066 Pianos, a high-end piano restoration business based in Cambridge, which is a bit unexpected.

Financially, Precision Engine Services Ltd shows some concerning trends. Accumulated amortisation impairment for intangible assets increased by 16%, while depreciation for plant and machinery rose by 12%. Directors’ advances decreased, and bank borrowings fell by 50%, but cash reserves dipped by nearly 5%. Creditors increased by 6.8%, and total assets less current liabilities decreased by 5.8%. The company’s small size—meeting two of three criteria for being classified as small—helps with agility, but the decline in equity raises questions. With no auditor mentioned, the financial statements are unaudited.

Overall, Precision Engine Services Ltd appears to be facing some financial headwinds, despite its strong reputation and dedicated customer base. The diversification into the piano business is interesting, but whether it provides a stable financial foundation remains to be seen.

Registered in Scotland under the registration number SC399507, with a registered address at IV1 1TR, Scotland, Inverness, 23 Henderson Drive.

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