Tis Manufacturing Limited

Tis Manufacturing Ltd, based in Aberdeen, UK, is a small, active company founded 23 years ago. With 40 employees and £4,873,169 in assets, it’s a well-established player in its sector. The company operates from a virtual address, managed by two directors and a solo founder, Forrest Norman Russell. It regularly imports machinery, boilers, and mechanical appliances parts—67 months of import activity recorded—and exports similar items, with a substantial 156 months of export activity.

The company’s website highlights its specialization in the design, manufacture, refurbishment, and rental of well service and subsea control equipment for the oil and gas industry. It offers a range of services, including umbilical reelers, topside controls, wireline equipment, and pressure control equipment, catering to a global client base. It even provides TIS Renewables services and offers maintenance, product training, and spare parts. The company’s website has a very nice design, and it’s easy to navigate.

Financially, Tis Manufacturing Ltd presents a mixed picture. While current assets decreased by 8% to £4,900,000, net assets also dropped by 8% to £5,300,000. However, cash reserves saw a remarkable 420% increase to £1,600,000—a positive sign of improved liquidity. Trade debtors experienced a significant 62% decrease, suggesting better collection practices. Creditors increased by 3.9%, and other creditors saw a dramatic 230% increase, which could be due to increased purchasing activity. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) allows for flexibility, but the fluctuating debtor and creditor balances warrant close monitoring. There's no auditor mentioned, so the figures are unaudited.

Overall, Tis Manufacturing Ltd seems to be navigating a period of change, with a strong cash position offsetting some concerns about debtor management. The company's focus on specialized equipment and services within the oil and gas industry suggests a resilient business model, but it will be important to keep an eye on its financial trends in the coming months.

Registered in Scotland under the registration number SC225755, with a registered address at AB10 1BR, Scotland, Aberdeen, Suite A, 1 Albyn Place.

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