SPERRY MARINE B.V.
Company number FC020139 · Monitor this company
This analysis was written by an AI from the company's public filings. It may contain errors or omissions and is not financial or professional advice.
Commercial Credit Assessment: SPERRY MARINE B.V.
1. Credit Opinion: CONDITIONAL
Reasoning: The credit decision must be conditional due to significant data limitations. While the entity demonstrates positive indicators—long operating history (incorporated 1997), active status, full accounts filed and current, and no liquidation concerns—the absence of financial data prevents a complete creditworthiness assessment. The recent corporate restructuring (name change from Northrop Grumman Sperry Marine B.V. in June 2024) introduces uncertainty regarding the entity's current ownership structure, financial backing, and standalone credit profile following separation from the Northrop Grumman group.
Key Concern: As an overseas company registered in the Netherlands, standard UK filing disclosures are limited. No financial figures, profitability metrics, or balance sheet data are available through Companies House in the format required for proper credit analysis.
2. Financial Strength
Assessment: INSUFFICIENT DATA
- No balance sheet information available (fixed assets, current assets, liabilities, net assets)
- No shareholders' funds or P&L reserve data
- No profitability metrics or financial trajectory indicators
- The entity files full accounts, but these are lodged with Dutch authorities rather than Companies House in detail
Contextual Note: The previous association with Northrop Grumman (a Fortune 100 defense contractor) historically would have implied strong parental backing. The June 2024 name change removing "Northrop Grumman" suggests this entity may have been divested, which fundamentally changes the credit risk profile. A standalone Sperry Marine entity may lack the implicit support previously available.
3. Cash Flow Assessment
Assessment: INSUFFICIENT DATA
- No trading results, turnover, or cash flow information available
- Working capital position cannot be determined
- Liquidity ratios cannot be calculated
- Debt service capability is unknown
Operational Indicators: - Accounts are filed and current (not overdue) - Company remains active and operational - Recent director changes (one resignation in September 2025) suggest ongoing corporate activity rather than dormancy
4. Monitoring Points
| Metric | Current Status | Action Required |
|---|---|---|
| Financial Statements | Not available via UK registry | Request audited Dutch accounts directly |
| Ownership Structure | Unclear post-name change | Obtain shareholder register and PSC details |
| Parental Guarantee | Potentially removed | Confirm whether Northrop Grumman backing remains |
| Director Stability | One recent resignation | Monitor for further management changes |
| Filing Compliance | Current | Continue monitoring for overdue filings |
| Credit References | Not available | Request trade references and bank references |
Additional Considerations
Corporate Structure: As an overseas company (Netherlands-registered), this entity operates under different regulatory and reporting frameworks. Any credit facility would require understanding of Dutch corporate law, potential cross-border enforcement issues, and applicable security arrangements.
Industry Context: Sperry Marine operates in the maritime navigation and naval technology sector. This is a specialized, capital-intensive industry with typically long contract cycles and significant working capital requirements.
Recommendation: Before advancing any credit facility, the following must be obtained: 1. Audited financial statements for the last 3 years 2. Confirmation of current ownership and group structure 3. Bank and trade references 4. Details of any intercompany arrangements post-divestiture 5. Legal opinion on enforceability of security under Dutch law