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Openworks Engineering Ltd

09701798

active
Private Limited Company
Companies House
Health Score
84 / 100

Healthy

30/30
Filing
20/30
Financial
34/40
Risk
  • 3 outstanding charges (-6)

Details

5 REGENTS DRIVE, PRUDHOE, NE42 6PX
Incorporated 24/07/2015

Compliance

Accounts

Up to date

Confirmation statement

Up to date

Industry

28990
Manufacture of other special-purpose machinery

Officers

Mr Neil Rockcliffe Armstrong

director · Since 24/07/2015

COMPANY DIRECTOR

BRITISH · UNITED KINGDOM · Age 48

Mr James Edward Cross

director · Since 24/07/2015

COMPANY DIRECTOR

BRITISH · UNITED KINGDOM · Age 41

Mr Christopher David Down

director · Since 24/07/2015

COMPANY DIRECTOR

BRITISH · UNITED KINGDOM · Age 45

Also on 1 other board

Mr Alexander James Wilkinson

director · Since 24/07/2015

COMPANY DIRECTOR

BRITISH · UNITED KINGDOM · Age 39

Mr Roland Sebastian Wilkinson

director · Since 24/07/2015

COMPANY DIRECTOR

BRITISH · UNITED KINGDOM · Age 36

Also on 1 other board

Mr Graham Peter Beall

director · Since 08/08/2024

STRATEGIC BUSINESS DEVELOPMENT DIRECTOR

BRITISH · ENGLAND · Age 66

Charges3 outstanding

Charge
outstanding

HSBC UK BANK PLC

Created 18/09/2024Registered 03/10/2024
Charge
outstanding

HSBC UK BANK PLC

Created 18/09/2024Registered 27/09/2024
Charge
outstanding

HSBC UK BANK PLC

Created 10/08/2022Registered 15/08/2022
Charge
satisfied

INNOVATE UK LOANS LIMITED

Created 22/07/2022Registered 01/08/2022Satisfied 29/08/2025

CompanyRankvs 273+ SIC 28990 peers
73

Financial strength93th percentile among SIC peers · 23/25
Employees91th percentile among SIC peers · 14/15
LiquidityCurrent ratio 2.79× · 20/20
Longevity11 years trading (max 15) · 11/15
Filing complianceAll filings up to date · 15/15
Outstanding charges -10
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How is this score calculated?
Financial strength23/25 pts

Net worth compared to all companies in the same SIC code with published accounts. Top quartile earns the full 25 points.

Employees14/15 pts

Workforce size relative to sector peers from the most recent accounts. A larger team generally signals commercial scale.

Liquidity20/20 pts

Current assets ÷ current liabilities. A ratio above 2× earns full marks; between 1–2× scores partially; below 0.5× scores minimal points.

Longevity11/15 pts

One point per year of operation since incorporation, capped at 15. Older companies have a proven track record.

Filing compliance15/15 pts

Full 15 points when both annual accounts and confirmation statement are filed on time. Points are deducted for each overdue filing.

Risk deductions

Outstanding charges: -10 pts

Maximum score is 100. Deductions apply for insolvency history, outstanding charges, going concern doubt, or disqualified officers.

Key FinancialsYear ending 31/12/2024

Net Worth

£3.0M

Balance sheet strength

Cash

£2.2M

Cash in the bank

Net Current Assets

£3.1M

Working capital

Current Assets

£4.8M

Current Liabilities

£1.7M

Fixed Assets

£436k

Debtors

£1.7M

26avg. employees+9

Balance Sheet

Intangible assets£7k
Bank loans & overdrafts£536k
Assets less current liabilities£3.5M
Prepared with IRIS Accounts Production

EstimatesDerived

YearCurrent RatioImplied Profit
20242.79+£1.1M
20235.52+£502k
20223.44+£79k
20214.65-£133k
20208.95-£123k
20195.55

Derived from filed accounts. Not audited figures.