Utility Oils Ltd

Utility Oils Ltd, based in Wigan, UK, is a small, active company founded 19 years ago. With 17 employees and £3,584,793 in assets, it’s a well-established operation. The company has four directors and is owned by Lofthouse Gary, who is also the solo founder. It boasts a perfect 5.0 Google rating from six reviews, a testament to its customer service. Utility Oils Ltd is an irregular importer, primarily dealing in miscellaneous chemical products, with its last import activity recorded one month ago.

The company operates in the professional, scientific, and technical activities industries. Its website, though not detailed, suggests a focus on oil and natural gas services, potentially linked to its chemical imports. It's a small company as it met two conditions of three: turnover less than £10.2 million, balance sheet less than £5.1 million, employees less than 50.

Financially, Utility Oils Ltd shows some interesting trends. Cash reserves increased significantly by 140%, reaching £2.2 million, a positive sign of liquidity. However, net assets also increased by 53%, to £2.5 million, while bank borrowings surged by 5.1%, reaching £11,000. Creditors also increased by 51%, to £1.4 million, which could indicate an expansion of credit terms or increased supplier payments. Trade debtors decreased by 20%, to £1.2 million, which is a good sign. Depreciation charges for plant machinery increased by 6%, to £81,000. The company is exempt from an audit as a small company, so the figures are unaudited.

Overall, Utility Oils Ltd appears to be a stable, albeit small, business. The increase in cash reserves is encouraging, but the rise in both creditors and bank borrowings warrants attention. The company’s long history and positive Google rating suggest a loyal customer base, but continued monitoring of its financial health will be important.

Registered in England/Wales under the registration number 05623045, with a registered address at WN4 8DT, Wigan, Unit 3 Redgate Road South Lancashire Industrial Estate, Ashton In Makerfield.

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