Progen Services Ltd

Progen Services Ltd, based in Grimsby, UK, is a small holding company with an active status, having been founded eleven years ago in 11 years. Employing 73 people, the company holds assets worth £2,104,613. It operates from a real address and is overseen by three directors and a single owner. Google reviews give it a perfect 5.0 rating based on six reviews, and it’s an irregular importer of electrical machinery and equipment, with the last import occurring just one month ago.

The company’s website, progeneservices.co.uk, positions itself as “The UK’s Premier Provider of Full Turnkey MEPH Solutions.” It’s clear Progen Services is involved in electrical installation, refrigeration, and high-voltage work, serving industrial, rail, commercial, and renewable energy sectors. The site showcases numerous projects, including electrical fitouts for Ford, ABP Border Force buildings, and Apple’s UK financial office. It also features a news section highlighting recent successes and demonstrating expertise. The site has a clear e-commerce element, with services and contact details prominently displayed. It doesn’s appear to be a traditional e-commerce site selling products, but rather a portal for showcasing services and generating leads.

Financially, Progen Services Ltd presents a mixed picture. While current assets have slightly decreased to £2,100,000, equity has plummeted by a staggering 84%, falling to just £110,000. Bank borrowings have doubled to £290,000, and cash reserves have dried up, falling 95% to a mere £35. Creditors have increased significantly by 19%, and trade debtors have increased by 40%. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) allows for flexibility, but the sharp decline in equity is a cause for concern. With no auditor mentioned, the figures are unaudited. The company's net assets liabilities have fallen significantly, which is a worrying trend. It's clear that the company is facing some financial pressures.

Registered in England/Wales under the registration number 08936250, with a registered address at DN31 2TT, England, Grimsby, 50 Energy Park Way.

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