Downhole Tool Warehouse Ltd

Downhole Tool Warehouse Ltd, based in Gorseinon, UK, is a small, active company established ten years ago in 2014. With three employees and £1,917,069 in assets, it operates from a real address and is overseen by three directors and one owner. The company primarily exports machinery, boilers, and mechanical appliances; parts, with 10 months of export activity recorded, the last in January 2024. It also imports these same items, albeit irregularly, with just two months of import activity, the latest in July 2024. The business operates within the wholesale of mining, construction and civil engineering machinery industries.

The company’s website, while basic, highlights a focus on supplying specialist tools and equipment for the oil and gas sector, alongside general engineering applications. It’s clear the business is geared towards B2B sales, with a catalogue of products and a contact form for inquiries. There's no obvious e-commerce functionality, suggesting orders are likely handled manually.

Financially, Downhole Tool Warehouse Ltd shows a mixed picture. Current assets have decreased by 15% to £1,900,000, while net assets have increased by a substantial 64% to £740,000. Bank cash has fallen by 46% to £400,000, and creditors have decreased by 46% to £340,000. Trade debtors have increased by 20% to £330,000. 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 flexibility, but the decrease in cash reserves is something to keep an eye on. The company is exempt from an audit, so the figures are unaudited.

The increase in net assets, however, is encouraging. While the business isn’t burning through money, it’s not exactly overflowing with it either. The rise in trade debtors suggests that the company may be struggling to get paid quickly, or perhaps it’s extending credit terms to win business. The lack of a dedicated auditor is common for small companies, but it does mean that the financial information relies heavily on the directors' reporting.

Registered in England/Wales under the registration number 09325337, with a registered address at SA4 9WF, Wales, Gorseinon, Swansea, Unit 4 - 7 Phoenix Way, Garngoch Industrial Estate.

WARNING: The numbers have been rounded for simplicity and may be inaccurate.Please, refer to the latest financial report for verification.
Ports, countries, transport, and price/kg were calculated by CorpSignals; non-official data, may contain errors.