Underwater Contracting Limited

Underwater Contracting Ltd, based in Aberdeen, UK, is a small, active company founded eight years ago. With eight employees and £923,706 in assets, it’s a modest operation led by two directors and two owners. The company has a real registered address and regularly imports optical and medical tools and devices (seven months) and exports electrical machinery and equipment (eleven months). Its core business operates within the “other professional, scientific and technical activities n.e.c.” industries, offering underwater knowledge and innovative thinking.

The company’s website showcases expertise in aquaculture, renewables, and oil and gas sectors. It provides a range of ROV services, including inspection, maintenance, and cleaning, often utilizing patented technologies like the FOOVER Mortality Recovery system and the NETFIX Net Repair system. It’s clear that Underwater Contracting Ltd focuses on providing specialized underwater solutions rather than direct-to-consumer sales.

Financially, Underwater Contracting Ltd presents a mixed picture. Current assets have increased by a healthy 54% to £920,000, while net assets have also grown significantly by 60% to £1.1 million. Cash reserves have more than doubled, reaching £320,000—a positive sign of improved liquidity. However, creditors have also risen by 32% to £740,000, and bank borrowings have increased, suggesting the company is leveraging debt to fuel growth. Trade debtors have also increased, which could be a concern if payments are delayed. 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 agility, but the increase in debt warrants monitoring. No auditor is mentioned, likely due to exemption as a small company.

The company’s focus on specialized underwater services, coupled with its growing asset base, suggests a potentially healthy trajectory. However, the increase in debt and the need to manage trade debtors will be key factors in its future success.

Registered in Scotland under the registration number SC549044, with a registered address at AB12 3AX, Scotland, Aberdeen, The Wheelhouse Greenwell Road, East Tullos.

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