P W WELL TEST LIMITED


Directors	R W Bone
	J N Palmer


Registered Address	77 Fosse Road
	Farndon
	Newark
	NG24 3TL


Registered Number	09145204 (England and Wales)

Balance Sheet as at
31 July 2026

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	3		613,515		684,056
Investments	4		25		25
			613,540		684,081
Current assets
Debtors	5	82,174		155,628
Cash at bank and on hand		74,173		47,476
		156,347		203,104
Creditors amounts falling due within one year	6	(16,657)		(63,825)
Net current assets (liabilities)			139,690		139,279
Total assets less current liabilities			753,230		823,360
Provisions for liabilities	7		(153,379)		(171,014)
Net assets			599,851		652,346
Capital and reserves
Called up share capital			118		118
Revaluation reserve			405,378		457,527
Profit and loss account			194,355		194,701
Shareholders' funds			599,851		652,346

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 1 September 2026, and are signed on its behalf by:

J N Palmer
Director
Registered Company No. 09145204

P W WELL TEST LIMITED

Notes to the Financial Statements
for the year ended 31 July 2026

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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	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
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Plant and machinery	10
	Fixtures and fittings	25
	Vehicles	25

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	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


		2026		2025
	Average number of employees during the year	0		1

3.	Tangible fixed assets

	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 August 25	750,685	33,063	2,847	786,595
Disposals	-	(6,495)	-	(6,495)
At 31 July 26	750,685	26,568	2,847	780,100
Depreciation and impairment
At 01 August 25	75,068	24,965	2,506	102,539
Charge for year	67,562	1,736	87	69,385
On disposals	-	(5,339)	-	(5,339)
At 31 July 26	142,630	21,362	2,593	166,585
Net book value
At 31 July 26	608,055	5,206	254	613,515
At 31 July 25	675,617	8,098	341	684,056

4.	Fixed asset investments

	Investments in groups¹	Total
	£	£
Cost or valuation
At 01 August 25	25	25
At 31 July 26	25	25
Net book value
At 31 July 26	25	25
At 31 July 25	25	25

	Notes
	¹Investments in group undertakings and participating interests

5.	Debtors: amounts due within one year

	2026	2025
	£	£
Trade debtors / trade receivables	26,347	102,298
Amounts owed by associates and joint ventures / participating interests	54,133	50,843
Other debtors	429	301
Prepayments and accrued income	1,265	2,186
Total	82,174	155,628

6.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	13,199	27,216
Taxation and social security	132	33,410
Accrued liabilities and deferred income	3,326	3,199
Total	16,657	63,825


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

7.	Provisions for liabilities

	2026	2025
	£	£
Net deferred tax liability (asset)	153,379	171,014
Total	153,379	171,014

8.	Related party transactions
	A loan account exists. At the balance sheet date the amount owed by Onshore Petroleum Limited, an associated company of P W Well Test Ltd, was £51,333 (2025 - £50,843).