P W WELL (HOLDINGS) LIMITED


Directors	C L Branch
	E F Palmer
	J N Palmer


Registered Address	77 Fosse Road
	Farndon
	Newark
	NG24 3TL


Registered Number	08894576 (England and Wales)

Balance Sheet as at
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		-		215,807
			-		215,807
Current assets
Debtors	4	670,907		2,785,044
Cash at bank and on hand		57,466		161,704
		728,373		2,946,748
Creditors amounts falling due within one year	5	(615,414)		(1,995,764)
Net current assets (liabilities)			112,959		950,984
Total assets less current liabilities			112,959		1,166,791
Provisions for liabilities	6		-		(20,341)
Net assets			112,959		1,146,450
Capital and reserves
Called up share capital			100		100
Profit and loss account			112,859		1,146,350
Shareholders' funds			112,959		1,146,450

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. 08894576

P W WELL (HOLDINGS) 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.

	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	25
	Vehicles	25

2.	Average number of employees


		2025		2024
	Average number of employees during the year	0		0

3.	Tangible fixed assets

	Plant & machinery	Vehicles	Fixtures & fittings	Total
	£	£	£	£
Cost or valuation
At 01 April 24	1,386,378	128,416	69,499	1,584,293
Disposals	(1,386,378)	(128,416)	(69,499)	(1,584,293)
Depreciation and impairment
At 01 April 24	1,199,267	104,051	65,168	1,368,486
On disposals	(1,199,267)	(104,051)	(65,168)	(1,368,486)
Net book value
At 31 March 25	-	-	-	-
At 31 March 24	187,111	24,365	4,331	215,807

4.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	17,754	716,808
Amounts owed by group undertakings	1,000	1,914,922
Other debtors	632,153	3,313
Prepayments and accrued income	20,000	150,001
Total	670,907	2,785,044

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	176,961	-
Amounts owed to related parties	432,920	1,502,000
Taxation and social security	1,913	34,343
Other creditors	400	400
Accrued liabilities and deferred income	3,220	459,021
Total	615,414	1,995,764

6.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	-	20,341
Total	-	20,341

7.	Related party transactions
	Summary of transactions with parent A loan account exists between the company and its parent, Servatec Holdings Limited. At the balance sheet date, the amount owed to Servatec Holdings Limited was £432,920 (2024 - £1,914,922 debit). Summary of transactions with group A loan account exists between the company and P W Well Services Limited, of which the director, J N Palmer, is also a director. At the balance sheet date, the amount owed to P W Well Services Limited was £nil (2024 - £1,502,000). A loan account exists between the company and Onshore Petroleum Limited, of which the director, J N Palmer, is also a director. At the balance sheet date, the amount owed by Onshore Petroleum Limited was £1,000 (2024 - £nil). Summary of transactions with associates A loan account exists between the company and FBG Resources Limited, of which the director, J N Palmer, is also a director. At the balance sheet date, the amount owed by FBG Resources Limited was £21,600 (2024 - £nil). A loan account exists between the company and Consortium Drilling Limited, of which the director, J N Palmer, is also a director. At the balance sheet date, the amount owed by Consortium Drilling Limited was £606,458 (2024 - £nil).

Related party transactions

Summary of transactions with parent
A loan account exists between the company and its parent, Servatec Holdings Limited. At the balance sheet date, the amount owed to Servatec Holdings Limited was £432,920 (2024 - £1,914,922 debit).

Summary of transactions with group
A loan account exists between the company and P W Well Services Limited, of which the director, J N Palmer, is also a director. At the balance sheet date, the amount owed to P W Well Services Limited was £nil (2024 - £1,502,000).

A loan account exists between the company and Onshore Petroleum Limited, of which the director, J N Palmer, is also a director. At the balance sheet date, the amount owed by Onshore Petroleum Limited was £1,000 (2024 - £nil).

Summary of transactions with associates
A loan account exists between the company and FBG Resources Limited, of which the director, J N Palmer, is also a director. At the balance sheet date, the amount owed by FBG Resources Limited was £21,600 (2024 - £nil).

A loan account exists between the company and Consortium Drilling Limited, of which the director, J N Palmer, is also a director. At the balance sheet date, the amount owed by Consortium Drilling Limited was £606,458 (2024 - £nil).