P W WELL SERVICES LIMITED


Directors	C L Branch
	E F Branch
	J N Palmer


Registered Address	77 Fosse Road
	Farndon
	Newark
	NG24 3TL


Registered Number	04967550 (England and Wales)

Balance Sheet as at
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		1,534		10,410
			1,534		10,410
Current assets
Stocks	4	100,000		460,069
Debtors	5	1,615,352		3,180,800
Cash at bank and on hand		241,623		1,062,742
		1,956,975		4,703,611
Creditors amounts falling due within one year	6	(465,690)		(1,521,277)
Net current assets (liabilities)			1,491,285		3,182,334
Total assets less current liabilities			1,492,819		3,192,744
Net assets			1,492,819		3,192,744
Capital and reserves
Called up share capital			100		100
Profit and loss account			1,492,719		3,192,644
Shareholders' funds			1,492,819		3,192,744

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 7 October 2025, and are signed on its behalf by:

J N Palmer
Director
Registered Company No. 04967550

P W WELL SERVICES LIMITED

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Reducing balance (%)
	Plant and machinery	25
	Fixtures and fittings	20
	Vehicles	25

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	1		1

3.	Tangible fixed assets

	Plant & machinery	Fixtures & fittings	Total
	£	£	£
Cost or valuation
At 01 April 24	16,320	2,546	18,866
Additions	8,500	3,071	11,571
Disposals	(24,820)	(3,700)	(28,520)
At 31 March 25	-	1,917	1,917
Depreciation and impairment
At 01 April 24	7,696	760	8,456
Charge for year	-	383	383
On disposals	(7,696)	(760)	(8,456)
At 31 March 25	-	383	383
Net book value
At 31 March 25	-	1,534	1,534
At 31 March 24	8,624	1,786	10,410

4.	Stocks

	2025	2024
	£	£
Work in progress	100,000	460,069
Total	100,000	460,069

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	837,747	1,611,428
Amounts owed by group undertakings	749,152	1,502,000
Other debtors	1,836	41,340
Prepayments and accrued income	26,617	26,032
Total	1,615,352	3,180,800

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	106,192	85,558
Amounts owed to related parties	-	1,059,385
Taxation and social security	90,992	217,897
Other creditors	2,390	2,937
Accrued liabilities and deferred income	266,116	155,500
Total	465,690	1,521,277

7.	Related party transactions
	Summary of transactions with parent A loan account exists between the company and the ultimate holding company, Servatec Holdings Limited. At the balance sheet date, the amount owed by Servatec Holdings Limited was £679,152 (2024 - £1,059,385 creditor) Summary of transactions with group A loan account exists between the company and P W Well (Holdings) Limited, an associated company of P W Well Services Limited. At the balance sheet date, the amount owed by P W Well (Holdings) Limited was £nil (2024- £1,502,000) A loan account exists between the company and Oil Well 2000 (Holdings) Limited, of which the director, J N Palmer is also a director. At the balance sheet date, the amount owed by Oil Well 2000 (Holdings) Limited was £70,000 (2024- £nil)

Related party transactions

Summary of transactions with parent
A loan account exists between the company and the ultimate holding company, Servatec Holdings Limited. At the balance sheet date, the amount owed by Servatec Holdings Limited was £679,152 (2024 - £1,059,385 creditor)

Summary of transactions with group
A loan account exists between the company and P W Well (Holdings) Limited, an associated company of P W Well Services Limited. At the balance sheet date, the amount owed by P W Well (Holdings) Limited was £nil (2024- £1,502,000)

A loan account exists between the company and Oil Well 2000 (Holdings) Limited, of which the director, J N Palmer is also a director. At the balance sheet date, the amount owed by Oil Well 2000 (Holdings) Limited was £70,000 (2024- £nil)