Titan Tools Services Limited

Titan Tools Services Limited, based in Aberdeen, UK, is a small holding company with an active status, established fifteen years ago. Employing twenty-six people and holding assets of £5,016,536, it operates from a virtual address – sixty other companies are registered at the same location. Two directors and one owner oversee the business, which regularly imports and exports machinery, boilers, and mechanical appliances, parts.

The company’s core activity revolves around providing downhole tool rental services to the oil and gas industry. Its website highlights a full-service operation, offering state-of-the-art nonmagnetic and steel tools, maintenance, and global support. They partner with overseas suppliers and emphasize corrosion resistance and tool durability, manufacturing tools with advanced materials from industry leaders. Titan Tools also offers planning advice, cutting-edge tools, and services, with a network of facilities across the UK, Germany, and Senegal.

Financially, Titan Tools shows some concerning trends. While cash reserves increased by a significant 110% to £260,000, current assets declined by 2.7% to £5,000,000. Trade debtors fell sharply by 38% to £1,900,000, and net losses deepened to -£23,000. Bank borrowings increased by 2,400%, reaching £29,000, and creditors rose 35% to £34,000. The company meets the criteria for a small business, with turnover under £10.2m, assets under £5.1m, and fewer than fifty employees. With no auditor mentioned, the financial statements are unaudited. The company’s small size helps it stay agile, but the sharp equity drop raises questions.

Registered in Scotland under the registration number SC363457, with a registered address at AB11 5DN, Scotland, Aberdeen, Titan Tools Facility, Unit J Nord Centre, York Street.

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