Witon Engineering Limited

Witon Engineering Limited, based in Barnstaple, UK, is a small, active family business established 32 years ago. With 27 employees and a real address, the company is led by four directors and two owners. It operates as a regular exporter of iron or steel products, having exported for 21 months, with the most recent shipment occurring in September 2024. Conversely, it’s an irregular importer, primarily bringing in machinery, boilers, and mechanical appliances—parts—with the last import operation taking place in August 2023. The company’s core business involves the manufacture of fasteners, screw machine products, wire products, chain, and springs.

The company’s website highlights its expertise in designing, manufacturing, coating, and loading out large, complicated structures for various industries, including offshore oil & gas, subsea, marine, defense, decommissioning, and offshore wind. It boasts an 112-acre construction facility with significant blasting, coating, and loadout capabilities. Wilton Engineering even offers services like subsea project delivery, renewable energy structure fabrication, marine structure support, decommissioning services, and coating solutions. The website also features news updates, including tree planting initiatives, field transformations, and recognition for training skills.

Financially, Witon Engineering Limited shows some concerning trends. Cash reserves have fallen by 57%, dropping to £33,000, and net assets have decreased by 21%, settling at £500,000. Bank borrowings remain stable at £700,000, but trade debtors have fallen by 7.2%, suggesting potential payment issues. Amounts owed to directors have increased significantly, rising by 200% to £240,000, which may indicate a shift in financing strategies. Creditors have also decreased, a positive sign of better debt management. The company qualifies as a small business, meeting two of three criteria: turnover under £10.2 million, assets under £5.1 million, and fewer than 50 employees. As a small company, it is exempt from an audit, and the financial statements are unaudited. The company's reliance on retained earnings has decreased, which may be a concern.

Registered in England/Wales under the registration number 02800939, with a registered address at EX31 1QW, England, Barnstaple, Devon, Pilland Way, Pottington Business Park.

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