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REGISTERED NUMBER: 03183392 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

SEISMIC TECHNOLOGY LIMITED

SEISMIC TECHNOLOGY LIMITED (REGISTERED NUMBER: 03183392)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SEISMIC TECHNOLOGY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: Mr M D Garlick
Mrs D A Garlick





REGISTERED OFFICE: 31 Silverwood Close
Pakefield
Lowestoft
Suffolk
NR33 7LX





REGISTERED NUMBER: 03183392 (England and Wales)





ACCOUNTANTS: Farnell Clarke Limited
Evolution House
Delft Way
Norwich Airport
Norwich
Norfolk
NR6 6BB

SEISMIC TECHNOLOGY LIMITED (REGISTERED NUMBER: 03183392)

STATEMENT OF FINANCIAL POSITION
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 4,041 2,833

CURRENT ASSETS
Debtors 5 7,585 30,110
Cash at bank 60,926 21,022
68,511 51,132
CREDITORS
Amounts falling due within one year 6 36,187 25,304
NET CURRENT ASSETS 32,324 25,828
TOTAL ASSETS LESS CURRENT LIABILITIES 36,365 28,661

CREDITORS
Amounts falling due after more than one
year

7

(13,457

)

(18,717

)

PROVISIONS FOR LIABILITIES (768 ) (580 )
NET ASSETS 22,140 9,364

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 22,138 9,362
SHAREHOLDERS' FUNDS 22,140 9,364

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SEISMIC TECHNOLOGY LIMITED (REGISTERED NUMBER: 03183392)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 February 2024 and were signed on its behalf by:





Mr M D Garlick - Director


SEISMIC TECHNOLOGY LIMITED (REGISTERED NUMBER: 03183392)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Seismic Technology Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

SEISMIC TECHNOLOGY LIMITED (REGISTERED NUMBER: 03183392)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 June 2022 191 4,537 4,728
Additions - 2,234 2,234
Disposals - (658 ) (658 )
At 31 May 2023 191 6,113 6,304
DEPRECIATION
At 1 June 2022 116 1,779 1,895
Charge for year 19 622 641
Eliminated on disposal - (273 ) (273 )
At 31 May 2023 135 2,128 2,263
NET BOOK VALUE
At 31 May 2023 56 3,985 4,041
At 31 May 2022 75 2,758 2,833

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,700 13,039
Directors' current accounts - 11,735
Tax 4,885 4,885
Prepayments - 451
7,585 30,110

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,252 5,561
Trade creditors 434 996
Corporation tax 17,426 11,932
Social security and other taxes 3 -
VAT 4,454 6,815
Directors' current accounts 8,618 -
36,187 25,304

SEISMIC TECHNOLOGY LIMITED (REGISTERED NUMBER: 03183392)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 5,383 5,182
Bank loans - 2-5 years 8,074 13,535
13,457 18,717

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2023 and 31 May 2022:

2023 2022
£    £   
Mr M D Garlick and Mrs D A Garlick
Balance outstanding at start of year 11,735 18,621
Amounts advanced - 11,735
Amounts repaid (11,735 ) (18,621 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 11,735

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £60,500 (2022 - £41,800) were paid to the directors .

11. ULTIMATE CONTROLLING PARTY

By way of the equal shareholding Mr & Mrs Garlick share ultimate control of the company between them.