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REGISTERED NUMBER: 05510321 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

SHEARWATER GEOPHYSICAL COMPANY LIMITED

SHEARWATER GEOPHYSICAL COMPANY LIMITED (REGISTERED NUMBER: 05510321)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


SHEARWATER GEOPHYSICAL COMPANY LIMITED (REGISTERED NUMBER: 05510321)

ABRIDGED BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 251,016 260,754

CURRENT ASSETS
Debtors 484 314
Cash at bank 58,228 81,456
58,712 81,770
CREDITORS
Amounts falling due within one year 146 1,274
NET CURRENT ASSETS 58,566 80,496
TOTAL ASSETS LESS CURRENT
LIABILITIES

309,582

341,250

PROVISIONS FOR LIABILITIES 370 5,464
NET ASSETS 309,212 335,786

CAPITAL AND RESERVES
Called up share capital 5 10 10
Retained earnings 309,202 335,776
SHAREHOLDERS' FUNDS 309,212 335,786

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SHEARWATER GEOPHYSICAL COMPANY LIMITED (REGISTERED NUMBER: 05510321)

ABRIDGED BALANCE SHEET - continued
31 JULY 2024


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 July 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 6 March 2025 and were signed by:





N Jones - Director


SHEARWATER GEOPHYSICAL COMPANY LIMITED (REGISTERED NUMBER: 05510321)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Shearwater Geophysical Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05510321

Registered office: 1 Church Terrace
Second Floor
Richmond
Surrey
TW10 6SE

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.

The financial statements have been prepared on a going concern basis.

Turnover
Turnover 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.
Freehold property - 2% on cost
Plant and machinery - 20% on cost
Office equipment - 25% on cost

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 balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

SHEARWATER GEOPHYSICAL COMPANY LIMITED (REGISTERED NUMBER: 05510321)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2023
and 31 July 2024 446,978
DEPRECIATION
At 1 August 2023 186,224
Charge for year 9,738
At 31 July 2024 195,962
NET BOOK VALUE
At 31 July 2024 251,016
At 31 July 2023 260,754

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10 Ordinary £1.00 10 10