SERVATEC HOLDINGS LIMITED


Directors	C L Branch
	D P J Palmer
	E F Palmer
	J N Palmer


Company Secretary	E F Palmer


Registered Address	77 Fosse Road
	Farndon
	Newark
	NG24 3TL


Registered Number	12440044 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 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 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
	Vehicles	25
	Office Equipment	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.

	Investment property
	The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investment property

The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	0		0

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 01 April 25	427,299	374,070	232,667	7,270	1,041,306
Additions	-	14,000	39,854	-	53,854
Disposals	-	(32,664)	(25,346)	-	(58,010)
At 31 March 26	427,299	355,406	247,175	7,270	1,037,150
Depreciation and impairment
At 01 April 25	-	128,729	98,197	1,820	228,746
Charge for year	-	58,716	29,970	1,365	90,051
On disposals	-	(8,166)	(6,337)	-	(14,503)
At 31 March 26	-	179,279	121,830	3,185	304,294
Net book value
At 31 March 26	427,299	176,127	125,345	4,085	732,856
At 31 March 25	427,299	245,341	134,470	5,450	812,560

4.	Investment property


		£
	Fair value at 01 April 25	387,120
	Disposals	(387,120)
	At 31 March 26	-

5.	Fixed asset investments

	Investments in groups¹	Total
	£	£
Cost or valuation
At 01 April 25	1,658,225	1,658,225
Additions	418,376	418,376
At 31 March 26	2,076,601	2,076,601
Net book value
At 31 March 26	2,076,601	2,076,601
At 31 March 25	1,658,225	1,658,225

	Notes
	¹Investments in group undertakings and participating interests

6.	Debtors: amounts due within one year

	2026	2025
	£	£
Trade debtors / trade receivables	15,325	-
Amounts owed by group undertakings	447,037	432,920
Amounts owed by associates and joint ventures / participating interests	472,300	475,228
Other debtors	1,144,636	1,182,845
Prepayments and accrued income	250,001	239,999
Total	2,329,299	2,330,992

7.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	50,000	221,830
Amounts owed to related parties	202,200	679,152
Taxation and social security	110,190	25,138
Other creditors	1,725	190
Accrued liabilities and deferred income	2,999	3,000
Total	367,114	929,310

8.	Provisions for liabilities

	2026	2025
	£	£
Net deferred tax liability (asset)	75,353	96,316
Total	75,353	96,316

9.	Related party transactions
	Summary of transactions with all subsidiaries A loan account exists between the company and P W Well (Holdings) Limited, a subsidiary company. At the balance sheet date, the amount owed by P W Well (Holdings) Limited was £415,166 (2025 - £432,920). A loan account exists between the company and P W Well Services Limited, a subsidiary company. At the balance sheet date, the amount owed by P W Well Services Limited was £31,872 (2025 - £679,152 credit). A loan account exists between the company and UKOG (GB) Limited, a subsidiary company. At the balance sheet date, the amount owed to UKOG (GB) Limited was £202,200 (2025 - £nil). Summary of transactions with all associates A loan account exists between the company and Onshore Petroleum Limited, an associated company of Servatec Holdings Limited and the director J N Palmer. At the balance sheet date, the amount due from Onshore Petroleum Limited was £155,768 (2025 - £155,257). A loan account exists between the company and Consortium Drilling Limited, an associated company of Servatec Holdings Limited and the director J N Palmer. At the balance sheet date, the amount owed by Consortium Drilling Limited was £19,970 (2025 - £19,970). A loan account exists between the company and Oil Well 2000 (Holdings) Limited, an associated company of Servatec Holdings Limited and the director J N Palmer. At the balance sheet date, the amount owed by Oil Well 2000 (Holdings) Limited was £296,563 (2025 - £300,000). Summary of transactions with other related parties A loan account exists between the company and the director, J N Palmer. At the balance sheet date, the amount due from J N Palmer was £57,744 (2025 - £93,683). A loan account exists between the company and the director, D P J Palmer. At the balance sheet date, the amount due from D P J Palmer was £436,023 (2025 - £380,021).

Related party transactions

Summary of transactions with all subsidiaries
A loan account exists between the company and P W Well (Holdings) Limited, a subsidiary company. At the balance sheet date, the amount owed by P W Well (Holdings) Limited was £415,166 (2025 - £432,920).

A loan account exists between the company and P W Well Services Limited, a subsidiary company. At the balance sheet date, the amount owed by P W Well Services Limited was £31,872 (2025 - £679,152 credit).

A loan account exists between the company and UKOG (GB) Limited, a subsidiary company. At the balance sheet date, the amount owed to UKOG (GB) Limited was £202,200 (2025 - £nil).

Summary of transactions with all associates
A loan account exists between the company and Onshore Petroleum Limited, an associated company of Servatec Holdings Limited and the director J N Palmer. At the balance sheet date, the amount due from Onshore Petroleum Limited was £155,768 (2025 - £155,257).

A loan account exists between the company and Consortium Drilling Limited, an associated company of Servatec Holdings Limited and the director J N Palmer. At the balance sheet date, the amount owed by Consortium Drilling Limited was £19,970 (2025 - £19,970).

A loan account exists between the company and Oil Well 2000 (Holdings) Limited, an associated company of Servatec Holdings Limited and the director J N Palmer. At the balance sheet date, the amount owed by Oil Well 2000 (Holdings) Limited was £296,563 (2025 - £300,000).

Summary of transactions with other related parties
A loan account exists between the company and the director, J N Palmer. At the balance sheet date, the amount due from J N Palmer was £57,744 (2025 - £93,683).

A loan account exists between the company and the director, D P J Palmer. At the balance sheet date, the amount due from D P J Palmer was £436,023 (2025 - £380,021).

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	3		732,856		812,560
Investments	5		2,076,601		1,658,225
Investment property	4		-		387,120
			2,809,457		2,857,905
Current assets
Debtors	6	2,329,299		2,330,992
Cash at bank and on hand		4,219,298		3,616,259
		6,548,597		5,947,251
Creditors amounts falling due within one year	7	(367,114)		(929,310)
Net current assets (liabilities)			6,181,483		5,017,941
Total assets less current liabilities			8,990,940		7,875,846
Provisions for liabilities	8		(75,353)		(96,316)
Net assets			8,915,587		7,779,530
Capital and reserves
Called up share capital			100		100
Profit and loss account			8,915,487		7,779,430
Shareholders' funds			8,915,587		7,779,530