Spectrum Machine Tools Ltd

Spectrum Machine Tools Ltd, based in Carrickfergus, UK, is a small, active company founded seven years ago in 2017. With £266,302 in assets and a virtual address shared by many other businesses, it's a compact operation managed by two directors and owners. The company regularly imports machinery, boilers, and mechanical appliances – parts, with 17 months of import activity recorded, the last in June 2023.

The company operates in the wholesale of machine tools industries, and its website showcases a wide range of services, including welding equipment hire and sales, refurbishment, and repair. It’s clear they cater to a specialist market, offering everything from conventional rotators to advanced automation systems. They also appear to be a major distributor for ESAB, a leading welding equipment manufacturer, and even host an ESAB demo bus. The website is very detailed, and it’s clear that they’re trying to be a one-stop shop for all things welding.

Financially, Spectrum Machine Tools Ltd presents a mixed picture. Cash reserves dropped by 51% to £24,000, while creditors decreased by 34% to £24,000. Current assets also fell by 15% to £270,000, and debtors decreased by 8.3% to £240,000. However, net assets liabilities increased by 75% to £33,000, and net current assets liabilities rose by 30% to £37,000. 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 decline in cash and the rise in liabilities suggest it’s burning through money. There’s no auditor mentioned, likely due to its small size, so the figures rely on unaudited statements.

It seems like Spectrum Machine Tools Ltd is holding steady, but facing some financial pressures. The company’s focus on specialist equipment and its partnership with ESAB offer a strong foundation, but managing cash flow will be key to its long-term success.

Registered in Northern Ireland under the registration number NI649175, with a registered address at BT38 7AW, Northern Ireland, Carrickfergus, 2 Market Place.

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