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Company Registration No. 4924658 (England and Wales)
Reid Geophysics Limited Unaudited accounts for the year ended 30 September 2023
Reid Geophysics Limited Unaudited accounts Contents
Page
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Reid Geophysics Limited Company Information for the year ended 30 September 2023
Directors
Mr CT Archer Dr AB Reid
Company Number
4924658 (England and Wales)
Registered Office
95 Seaside Road Eastbourne East Sussex BN21 3PL
Accountants
Maiden Accountancy Services 95 Seaside Road Eastbourne East Sussex BN21 3PL
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Reid Geophysics Limited Statement of financial position as at 30 September 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
805 
1,610 
Current assets
Debtors
8,540 
19,550 
Cash at bank and in hand
6,354 
4,545 
14,894 
24,095 
Creditors: amounts falling due within one year
(15,203)
(16,684)
Net current (liabilities)/assets
(309)
7,411 
Net assets
496 
9,021 
Capital and reserves
Called up share capital
20 
20 
Profit and loss account
476 
9,001 
Shareholders' funds
496 
9,021 
For the year ending 30 September 2023 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 November 2023 and were signed on its behalf by
Mr CT Archer Director Company Registration No. 4924658
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Reid Geophysics Limited Notes to the Accounts for the year ended 30 September 2023
1
Statutory information
Reid Geophysics Limited is a private company, limited by shares, registered in England and Wales, registration number 4924658. The registered office is 95 Seaside Road, Eastbourne, East Sussex, BN21 3PL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
straight line over 3 years
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 October 2022
3,690 
At 30 September 2023
3,690 
Depreciation
At 1 October 2022
2,080 
Charge for the year
805 
At 30 September 2023
2,885 
Net book value
At 30 September 2023
805 
At 30 September 2022
1,610 
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Reid Geophysics Limited Notes to the Accounts for the year ended 30 September 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
(3,490)
251 
Trade debtors
9,665 
15,645 
Other debtors
2,365 
3,654 
8,540 
19,550 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
1,292 
- 
Trade creditors
389 
1,918 
Taxes and social security
12,683 
14,077 
Loans from directors
- 
89 
Accruals
839 
600 
15,203 
16,684 
7
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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