Hg Wells Ltd

Hg Wells Ltd, based in Norwich, UK, is a small, family-run business with an active status. Founded 28 years ago in 1997, it employs four people and holds £357,537 in assets. The company operates from a virtual address, a fact highlighted by the presence of 68 other companies registered at the same location. It’s managed by four directors and two owners, and has a real registered address. The company is a irregular importer, with its top import category being Vehicles, parts, and accessories (not for trains or trams), totaling 2 months of imports. The last import operation was conducted on June 01, 2024.

The company’s website reveals a focus on providing well intervention services, consultancy, and equipment supply to the oil and gas industry. It offers a range of services, from wireline and wellhead services to engineering and management, rentals, and equipment maintenance. The site emphasizes a professional and experienced consultation service, with a history of providing safe and cost-effective solutions to oil and gas operators. It even has a sister site, Reconvey International, specializing in downhole tool rental and equipment sales.

Financially, Hg Wells Ltd shows a mixed picture. Creditors increased by 450%, reaching £26,000 within a year, while bank borrowings decreased by 14%, settling at £32,000. Cash reserves grew by 38%, reaching £38,000, and net assets dropped by 14%, settling at £260,000. Average number of employees increased by 100%, from four to eight, suggesting expansion. Trade debtors rose by 43%, and taxation increased by 76%. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) helps it remain agile, but the equity decline raises questions. No auditor is mentioned, likely due to the company’s small size and exemption from audit.

Registered in England/Wales under the registration number 03371863, with a registered address at NR3 1AB, England, Norwich, 17-19 St. Georges Street.

WARNING:The numbers have been rounded for simplicity and may be inaccurate.Please, refer to the latest financial report for verification.