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COMPANY REGISTRATION NUMBER: 02235007

Wellwise Oilfield Services Limited

Unaudited financial statements

31 March 2025

Wellwise Oilfield Services Limited

Statement of financial position

31 March 2025

| 2025 | 2024
Note | £ | £ | £ | £

Fixed assets

Tangible assets | 5 |  | 4,042 |  | 8,453
Investments | 6 |  | 83,409 |  | 83,409
|  | ------- |  | -------
|  | 87,451 |  | 91,862

Current assets

Debtors | 7 | 1,041,873 |  | 1,388,342 |
Cash at bank and in hand | 579,171 |  | 390,354 |
| ----------- |  | ----------- |
| 1,621,044 |  | 1,778,696 |

Prepayments and accrued income | 278,330 |  | 299,329 |

Creditors: Amounts falling due within one year | 8 | ( 534,291) |  | ( 740,565) |
| ----------- |  | ----------- |
Net current assets |  | 1,365,083 |  | 1,337,460
|  | ----------- |  | -----------
Total assets less current liabilities |  | 1,452,534 |  | 1,429,322
|  | ----------- |  | -----------
Net assets |  | 1,452,534 |  | 1,429,322
|  | ----------- |  | -----------

Capital and reserves

Called up share capital |  | 125 |  | 125
Profit and loss account |  | 1,452,409 |  | 1,429,197
|  | ----------- |  | -----------
Shareholders funds |  | 1,452,534 |  | 1,429,322
|  | ----------- |  | -----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Wellwise Oilfield Services Limited

Statement of financial position (continued)

31 March 2025
These financial statements were approved by the board of directors and authorised for issue on 6 January 2026 , and are signed on behalf of the board by:

D P Mason |
Director |

Company registration number: 02235007

Wellwise Oilfield Services Limited

Notes to the financial statements

Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Crossways Business Centre, Stalham Road, Hoveton, Norfolk, NR12 8DJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Improvements to leasehold property | - | 33% straight line
| Plant and machinery | - | 20% straight line
| Fixtures and fittings | - | 25% straight line
| Computer equipment | - | 33% straight line

Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of employees during the year was 13 (2024: 15 ).
5. Tangible assets

| Improv'ts to leasehold property | Plant and machinery | Fixtures and fittings | Computer equipment | Total
| £ | £ | £ | £ | £
Cost |  |  |  |  |
At 1 April 2024 and 31 March 2025 | 3,650 | 73,796 | 60,290 | 117,907 | 255,643
| ------ | ------- | ------- | --------- | ---------
Depreciation |  |  |  |  |
At 1 April 2024 | 3,650 | 73,796 | 60,290 | 109,454 | 247,190
Charge for the year | – | – | – | 4,411 | 4,411
| ------ | ------- | ------- | --------- | ---------
At 31 March 2025 | 3,650 | 73,796 | 60,290 | 113,865 | 251,601
| ------ | ------- | ------- | --------- | ---------
Carrying amount |  |  |  |  |
At 31 March 2025 | – | – | – | 4,042 | 4,042
| ------ | ------- | ------- | --------- | ---------
At 31 March 2024 | – | – | – | 8,453 | 8,453
| ------ | ------- | ------- | --------- | ---------

6. Investments

| Other investments other than loans
| £
Cost |
At 1 April 2024 and 31 March 2025 | 83,409
| -------
Impairment |
At 1 April 2024 and 31 March 2025 | –
| -------

Carrying amount |
At 31 March 2025 | 83,409
| -------
At 31 March 2024 | 83,409
| -------

The company owns 80 shares (100%) in Fardux Limited, at the year end Wellwise Oilfield Services Limited was owed £201,922 (2024 - £226,988) by Fardux Limited.
7. Debtors

| 2025 | 2024
| £ | £
Trade debtors | 839,951 | 1,161,354
Amounts owed by group undertakings and undertakings in which the company has a participating interest | 201,922 | 226,988
| ----------- | -----------
| 1,041,873 | 1,388,342
| ----------- | -----------

8. Creditors: Amounts falling due within one year

| 2025 | 2024
| £ | £
Trade creditors | 350,641 | 545,054
Social security and other taxes | 89,822 | 123,608
Other creditors | 93,828 | 71,903
| --------- | ---------
| 534,291 | 740,565
| --------- | ---------