Renown Engineering Limited

Renown Engineering Ltd from Cramlington, UK, is a large, holding company with an active status, celebrating 56 years since its founding in 1969. The company employs 61 people and holds assets valued at £7,359,154. It has a real address and is overseen by three directors and one owner. Renown Engineering is an irregular importer of machinery, boilers, and mechanical appliances; parts, with just one month of imports recorded, and a regular exporter of the same items, with 23 months of export activity.

The company operates in the manufacture of other fabricated metal products n.e.c. industries. Its website is currently unavailable, making it difficult to assess its e-commerce presence or direct sales channels.

Financially, Renown Engineering Ltd presents a mixed picture. While current assets increased by a substantial 39% to £7,400,000, trade debtors also rose significantly by 40% to £7,100,000, which could indicate challenges in collecting payments. Bank borrowings have completely disappeared, a positive sign, and cash reserves have increased by 29% to £220,000. Creditors, however, have risen by 81% to £3,600,000, which may be a result of increased business activity. The company’s net assets increased by 12% to £4,100,000. The company meets two of three conditions to be considered large, with turnover more than £36 million, balance sheet more than £18 million, and employees more than 250. The financial report, audited by Azets Audit Services, indicates a period of growth, but also highlights potential areas of concern, such as the increase in trade debtors and creditors. It’s possible that the company is investing in expansion, which could explain some of these trends, or perhaps it’s facing increased competition. The lack of mention of a senior statutory auditor is likely due to the company’s size and exemption from certain reporting requirements.

Registered in England/Wales under the registration number 00948075, with a registered address at NE23 7RH, England, Cramlington, Renown Engineering Limited, Northumberland Business Park West.

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