Precision Products (uk) Limited

Precision Products (UK) Limited, based in Chesterfield, UK, is a sizable company with a 30-year history, currently employing 70 people and holding assets valued at £2,465,494. It operates as a holding company and has an active trading status, boasting a perfect 5.0 Google rating from 12 reviews. The business specializes in the manufacture of other fabricated metal products, with a strong focus on piston rings and metallic sealing rings for both marine and industrial applications. It’s led by four directors and one owner, and its auditor is UHY Hacker Young.

The company’s website highlights its expertise in piston ring solutions, catering to both OEM and aftermarket clients in the maritime industry, as well as offering industrial sealing solutions. It even has a laboratory equipped with state-of-the-art instruments, staffed by experts in sealing technology. The website also features regular blog posts discussing advancements in piston ring technology and how they meet the demands of locomotive engines.

Financially, Precision Products (UK) Limited has experienced a turbulent year. Net assets have plummeted 61%, falling to £1.9 million, while net losses ballooned to -£2 million—a significant shift from the previous year's profit. Cash reserves have also decreased by 54%, now standing at £2,300. Bank borrowings, however, surged by 16%, reaching £4.6 million. Trade debtors have also increased significantly by 890%, suggesting potential issues with customer payments. Creditors, on the other hand, decreased by 57%, which could indicate improved debt management. The company, meeting two of three criteria for a large company, is likely facing increased competition or perhaps experiencing challenges in managing its working capital.

Registered in England/Wales under the registration number 02928395, with a registered address at S41 9RQ, Chesterfield, Derbyshire, Unit 1 Cobnar Wood Close, Chesterfield Trading Estate.

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