Reel Service Limited

Reel Service Limited, based in Glenrothes, UK, is a small, active company established 38 years ago. With 64 employees and £2,049,032 in assets, it's a well-established player in its sector. The company, which has three directors but no reported owners, operates from a real address and has a long history of importing and exporting electrical machinery and equipment – 351 months of imports and 394 months of exports.

The company’s website, Felindre Innovations, is a busy online store specializing in fishing tackle repairs, spares, and related accessories. It's clear that the site is geared toward anglers, offering a wide range of products from reel repairs and exploded diagrams to bait beds, chairs, and clothing. The site also includes a section dedicated to carp fishing, showcasing a range of specialist equipment. The company also appears to be involved in piano restoration, with a separate website, 1066 Pianos, revealing a different venture: high-end piano restoration. Founded in 1975 and now celebrating its 50th anniversary, the piano division operates from Cambridge and even has a showroom in Harrods, London.

Financially, Reel Service Limited’s report shows a mixed picture. Current assets increased by 6.1% to £2,000,000, while net assets decreased by 2.9% to £2,300,000. Bank borrowings surged by 180%, reaching £50,000, and cash reserves fell 0.42% to £690,000. Creditors also increased by 25%, suggesting a need to manage debt. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) helps it stay agile, but the equity drop raises questions. The report was audited by Sumer Auditco Limited, which gives some assurance of the accuracy of the figures.

Overall, Reel Service Limited appears to be a stable, long-standing business, but the financial data suggests it’s facing some challenges. The company’s dual focus on electrical equipment and fishing tackle, alongside the piano restoration venture, could be a source of strength or a distraction – it’s hard to tell.

Registered in Scotland under the registration number SC101979, with a registered address at KY6 2SD, Glenrothes, Fife, 55 Nasmyth Road, Southfield Industrial Estate.

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