ONSHORE PETROLEUM LIMITED


Director	J N Palmer


Registered Address	77 Fosse Road
	Farndon
	Newark
	NG24 3TL


Registered Number	10790838 (England and Wales)

Balance Sheet as at
31 May 2026

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	3		241		301
			241		301
Current assets
Debtors	4	10		10
Cash at bank and on hand		298		352
		308		362
Creditors amounts falling due within one year	5	(209,300)		(208,300)
Net current assets (liabilities)			(208,992)		(207,938)
Total assets less current liabilities			(208,751)		(207,637)
Net assets			(208,751)		(207,637)
Capital and reserves
Called up share capital			100		100
Profit and loss account			(208,851)		(207,737)
Shareholders' funds			(208,751)		(207,637)

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 Director acknowledges 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 Director on 5 October 2026, and are signed on its behalf by:

J N Palmer
Director
Registered Company No. 10790838

ONSHORE PETROLEUM LIMITED

Notes to the Financial Statements
for the year ended 31 May 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.

	Going concern
	Although the company's balance sheet shows a net deficit, under current liabilities there are loans from associates. The associated companies have indicated that they will continue to support the company and will not seek repayment of their loans for the foreseeable future therefore the financial statements have been prepared on a going concern basis.

	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.

	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.

	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 (%)
	Fixtures and fittings	20

2.	Average number of employees


		2026		2025
	Average number of employees during the year	0		0

3.	Tangible fixed assets

	Fixtures & fittings	Total
	£	£
Cost or valuation
At 01 June 25	1,435	1,435
At 31 May 26	1,435	1,435
Depreciation and impairment
At 01 June 25	1,134	1,134
Charge for year	60	60
At 31 May 26	1,194	1,194
Net book value
At 31 May 26	241	241
At 31 May 25	301	301

4.	Debtors: amounts due within one year

	2026	2025
	£	£
Other debtors	10	10
Total	10	10

5.	Creditors: amounts due within one year

	2026	2025
	£	£
Amounts owed to related parties	208,100	207,100
Accrued liabilities and deferred income	1,200	1,200
Total	209,300	208,300

6.	Related party transactions
	Summary of transactions with all associates At the balance sheet date the amount owed to Servatec Holdings Limited, a company of which the director, J N Palmer, is also a director, was £155,768 (2025 £155,258). At the balance sheet date the amount owed to P W Well Test Limited, a company of which the director, J N Palmer, is also a director, was £51,332 (2025 £50,842). At the balance sheet date the amount owed to P W Well (Holdings) Limited, a company of which the director, J N Palmer, is also a director, was £1,000 (2025 £1,000).

Related party transactions

Summary of transactions with all associates
At the balance sheet date the amount owed to Servatec Holdings Limited, a company of which the director, J N Palmer, is also a director, was £155,768 (2025 £155,258). 

At the balance sheet date the amount owed to P W Well Test Limited, a company of which the director, J N Palmer, is also a director, was £51,332 (2025 £50,842). 

At the balance sheet date the amount owed to P W Well (Holdings) Limited, a company of which the director, J N Palmer, is also a director, was £1,000 (2025 £1,000).