Swiftool Precision Engineering Limited

Swiftool Precision Engineering Ltd, based in Sutton-In-Ashfield, UK, is a large, holding company with an active status. Established 26 years ago, it employs 120 people and holds assets worth £14.6 million, generating a yearly revenue of £21.1 million. The company, overseen by three directors and one owner, maintains a perfect 5.0 Google rating from 24 reviews. It regularly imports and exports machinery, boilers, and mechanical appliances; parts, with a history of 61 months of imports and 88 months of exports.

Swiftool operates in the manufacture of other fabricated metal products, engineering-related scientific and technical consulting activities. Its website showcases a broad range of services, including project management, machining, quality inspection, and pressure testing. The company serves diverse sectors like defence, marine, nuclear energy, aerospace, and prides itself on innovative solutions and award-winning performance.

Financially, Swiftool demonstrates a mixed picture. While turnover increased by a substantial 54%, reaching £21.1 million, current assets dropped by 11% to £15 million. Bank borrowings surged by a significant 360%, reaching £260,000, and cash reserves fell 25% to £800,000. Creditors, however, decreased by 17%, suggesting improved debt management. The company meets two of three criteria to be considered a large company, indicating a solid foundation. The lack of an auditor mentioned likely reflects its exemption as a small company.

The sharp increase in bank borrowings and decrease in cash reserves, alongside the net loss deepening to £2.1 million, suggest Swiftool may be facing increased operational costs or investing heavily in growth initiatives. It's likely that the company's success in securing contracts within its target sectors is driving this expansion, but careful financial management will be crucial to ensure long-term stability.

Registered in England/Wales under the registration number 03634212, with a registered address at NG17 2NL, England, Sutton-In-Ashfield, Nottinghamshire, Swiftool House Brookside Way, Huthwaite.

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