Seaward Electronic Limited

Seaward Electronic Limited, based in Peterlee, Co Durham, UK, is a sizable company with a 42-year history, currently employing 171 people and holding assets valued at £10,402,218. As a holding company with an active status, it's a well-established player in the electrical safety testing equipment market. The company is led by four directors and has one owner, and boasts a stellar 5.0-star Google rating based on four reviews. It regularly imports and exports optical and medical tools and devices, with 814 months of import activity and 684 months of export activity recorded.

The company’s website reveals a broad range of products and services, primarily focused on electrical safety testing equipment for various industries, including PAT testing, solar PV, manufacturing, and medical. It operates as a manufacturer and supplier, offering both equipment and software solutions. A key element of their online presence is a dedicated section for Rigel Medical, a brand specializing in medical device testing equipment, indicating a potential subsidiary or closely related business. The website also features a robust support section, including training resources, guides, and a knowledge base, demonstrating a commitment to customer service.

Financially, Seaward Electronic Limited presents a mixed picture. While current assets increased by 12% to £10,000,000, net assets saw a substantial jump of 15% to £7,800,000. However, bank borrowings increased by 35% to £240,000, and cash reserves decreased by 31% to £1,100,000. Director remuneration decreased by 14% to £440,000. The company’s large size (meeting two of three criteria for a large company: turnover over £36 million, balance sheet over £18 million, and over 250 employees) suggests a stable business, but the increase in borrowings and decrease in cash warrants attention. The company’s financial statements were audited by Azets Audit Services, providing some assurance of their reliability.

The trends observed suggest that Seaward Electronic Limited is experiencing growth, but also facing financial pressures. The company's focus on innovation and customer support, coupled with its established brand and diverse product range, position it well for continued success. However, managing its debt and maintaining healthy cash reserves will be crucial for long-term stability.

Registered in England/Wales under the registration number 01674384, with a registered address at SR8 2SW, Peterlee Co Durham, 18 Bracken Hill, South West Industrial Estate.

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