BELL GEOSPACE LIMITED

Figures converted to GBP from USD at 0.748 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  -40.1%

  £2,082,023 → £1,247,577

• Cash

  -55.3%

  £98,155 → £43,847

  lowest in 4 filed years

• Net assets

  -24.3%

  -£13,388,751 → -£16,641,390

• Employees

  -5.3%

  19 → 18

• Operating profit

  -31.2%

  -£2,478,583 → -£3,252,921

• Profit before tax

  -31.2%

  -£2,478,291 → -£3,252,639

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

CT Audit Limited

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The company reported a net current liability position of $22,846,412 at 31 December 2024 (31 December 2023: $18,868,069) and a net liability position of $22,261,187 (31 December 2023: $17,910,132). Due to the continued support of the ultimate parent company, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and they therefore continue to adopt the going concern basis of accounting in preparing the annual financial statements. Bell Geospace Inc. itself is supported by its parent undertaking, and the directors of Bell Geospace Limited are satisfied that this support allows its immediate parent to offer this backing. At the year end date, $22,917,601 is due to the company's immediate parent undertaking, Bell Geospace Inc, and this company has confirmed that it will not seek repayment of the amounts owed for at least 12 months from the date these financial statements are signed. In addition to this group support, the directors are also expanding and developing existing and new customer relationships to increase revenues, monitoring cash flows and making operational improvements to improve profitability. Batcom, Inc. has confirmed that it will continue to provide the financial support necessary to enable the entity to continue operating as a going concern until December 2026.”

Significant events

• “2024 business included a large award for Oil India but due to delays in contracting and permitting that work did not start until early 2025.”
• “We held a plane in India early in the year... but we ultimately had to leave which created a large gap in our production.”
• “We performed surveys for Geothermal, Uranium and other minerals to augment our normal focus on oil & gas. Some of these were test surveys so were smaller than normal but should help us get more work in those markets in the future.”
• “The pipeline ended 2024 in better shape than it has in several years.”
• “Following the retirement of our VP Sales (John Macfarlane) in August, Gaud Poliquen was promoted to Director of Sales, and 2 additional Business Development Managers were hired (Canada & Europe). This resulted in immediate growth in those 2 markets which continued into 2025.”
• “A major effort was put into building a critical spares program as reported last year. We expanded our aircraft critical spares to cover all 3 aircraft, and this saved us from down days on multiple occasions.”
• “We were able to order additional spare components for our FTG (main science technology) but are still awaiting delivery on some key spares. The delays getting spares for our FTs are probably our biggest concern right now.”
• “We are talking to potential strategic partners about using complementary technology to expand our offerings and create additional markets if this continues to be an issue going forward.”
• “Most performance indicators were down in 2024... We actually performed 10 surveys in 2024 which was 43% above our 7 year average but our total km flown was just over ½ of our 7 year average, This was due to the down time in India as well as the smaller average size of surveys in the new markets.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

6

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.