Soilmec Limited

Soilmec Limited, based in London, UK, is a sizable holding company with an active status, having been incorporated 37 years ago in October 1987. The company employs 18 people and generated £9,817,838 in revenue last year. While it has a registered address, it’s likely a virtual one, as 103 companies share the same location. Soilmec Limited is overseen by three directors and has one owner, and boasts a stellar 5.0 Google rating from six reviews. The company regularly imports and exports machinery, boilers, and mechanical appliances, parts—118 months of imports and 12 months of exports recorded.

The company’s website highlights its focus on drilling and foundation equipment, offering a wide range of rigs, parts, and services. It’s clear that Soilmec Limited operates primarily as a supplier and distributor, with a strong emphasis on sales and after-sales support. The site doesn's appear to be an e-commerce platform, but rather a catalog and information hub for potential clients. It's a B2B operation, not a direct-to-consumer business.

Financially, Soilmec Limited shows some concerning trends. Accumulated depreciation impairment property plant equipment has remained steady at £720,000, but administrative expenses have decreased by 24% to £1.2 million—a positive sign. However, amounts owed by group undertakings have risen significantly by 360% to £630,000, and cash bank on hand has fallen by 50% to £980,000. Cost of sales has plummeted by 52%, which could be due to reduced activity or better pricing. The company’s turnover decreased by 52% to £9.8 million. The decrease in turnover and cash reserves, combined with the increased debt, suggests the company might be burning through cash. The lack of mention of an auditor in the report suggests the company is exempt from an audit.

Despite these challenges, Soilmec Limited’s strong Google rating and established presence in the industry suggest a resilient business. The company’s focus on specialized equipment and its relationships with manufacturers could provide a buffer against economic downturns. The decrease in administrative expenses is a good sign, but the company needs to address its cash flow situation to ensure its long-term viability.

Registered in England/Wales under the registration number 02179210, with a registered address at SW1P 2PN, London, 1 Vincent Square.

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