Tong Engineering Limited

Tong Engineering Ltd, based in Spilsby, UK, is a large, active company founded 39 years ago. With 177 employees and £8,393,182 in assets, the family-run business generates £18,653,979 in revenue annually. It’s led by seven directors and owned by two individuals, boasting a 4.0 Google rating from 18 reviews. The company regularly imports and exports machinery, boilers, and mechanical appliances, parts—44 months of imports and 190 months of exports.

Tong Engineering Ltd operates in the manufacture of agricultural and forestry machinery other than tractors. Its website, though basic, highlights its commitment to engineering excellence and customer service. The company seems to focus on providing robust, reliable equipment for the agricultural sector, with a particular emphasis on innovative solutions.

Financially, Tong Engineering Ltd presents a mixed picture. While current assets increased by 13%, reaching £8,400,000, net assets decreased by 14% to £7,700,000. Bank borrowings increased by a significant 29%, reaching £110,000, while cash reserves grew by 84%, reaching £750,000. Creditors also increased by 16%, reaching £5,900,000. The company's size classifies it as large, having met two out of three conditions: turnover exceeding £36 million and balance sheet total exceeding £18 million. The increase in bank borrowings and the decrease in net assets could indicate investments in growth or potential cash flow challenges. No auditor is mentioned, likely due to the company’s size.

Overall, Tong Engineering Ltd appears to be a stable, established business with a strong track record. The increase in cash reserves is a positive sign, but the rise in borrowings and decline in net assets warrant further monitoring. The company’s focus on a niche market and its commitment to quality engineering position it well for continued success, although a more detailed financial analysis would be needed to fully assess its long-term health.

Registered in England/Wales under the registration number 01957036, with a registered address at PE23 5HE, England, Spilsby, Lincolnshire, Tong Engineering Limited, Vale Road.

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