Rig Test Solutions Ltd

Rig Test Solutions Ltd, based in Halesowen, UK, is a small, active company founded four years ago. With £62,921 in assets and a virtual address shared by ninety-two other companies, it's a compact operation run by two directors and owners. The company is an irregular importer, bringing in iron or steel products for a single month in December 2024. It operates within the other engineering activities industries.

The company’s website highlights a focus on innovation and product design, offering services ranging from early-stage technology research to rapid prototyping and manufacturing. It caters to a diverse clientele, including inventors, universities, startups, and corporations, and boasts expertise in IoT, wearable technology, and industrial design. It's a consultancy that designs connected products and instruments for pioneering technology companies.

Financially, Rig Test Solutions Ltd presents a picture of a company struggling to maintain its position. Current assets have fallen by a significant 69%, dropping to £63,000. Bank cash has also declined sharply, decreasing 64% to £27,000. Creditors have also seen a dramatic decrease of 69%, falling to £45,000. Equity has plummeted 68%, now standing at £18,000. Despite these declines, trade debtors have decreased by 61%, suggesting some improvement in debt collection. The company meets the criteria for a small business, with turnover under £10.2 million, assets under £5.1 million, and less than fifty employees. There is no auditor mentioned, which is typical for small companies.

The company's focus on design and innovation is clear, but the financial data suggests it’s burning through cash. The decrease in assets and equity raises concerns about its long-term viability, and it’s unclear if the company can sustain its operations without additional funding.

Registered in England/Wales under the registration number 13307120, with a registered address at B62 8BF, United Kingdom, Halesowen, West Midlands, Grove House Coombs Wood Court, Steel Park Road.

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