Registered number. 02927628
Charty number: 1038161
U K ONSHORE GEOPHYSICAL LIBRARY
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Sa
eis Butterworth LLP

U K ONSHORE GEOPHYSICAL LIBRARY
CONTENTS
Page
Reference and administrative details of the companyi tts Trustees and advisers
Trustees. report
Independent examinerfs report
Statement of financial activities
10
Balance sheet
Notes to the financial statements
13-21

U K ONSHORE GEOPHYSICAL UBRARY
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2023
Trustees
Dr M Butler
Mr E King
Mr R Mckie (resigned 25 September 2023)
Mr M Abbott
Dr D Satterfield
Dr G Kirby (resi￿ed 9 April 2024)
Mr C Pullan
Mr G Heard
Prof M Huuse
Dr T Pharaoh (appointed 9 April 2Q24)
Prof J Underhill (appointed 25 September 2023)
Company registered
number
02927628
Charity registered
number
1038161
Registered office
3rd Floor
12 Gough Square
London
EC4A 3DW
Company secretary
Mrs P Mohamed
Independent examiner
A K Burch FCA
Sayers Butterworth LLP
Chartered Accountants & Statutory Auditors
3rd Floor
12 Gough Square
London
EC4A 3DW
Bankers
Lloyds TSB PIC
34 Moorgate
London
EC2R6DN
Managed by
Lynx Information Systems Limited
84 Coombe Road
New Malden
Surrey
r3 4QS
Page 1

U K ONSHORE GEOPHYSICAL LIBRARY
TRUSTEES. REPORT
FOR THEYEAR ENDED 31 DECEMBER 2023
The Trustees present their annual report together with the finan¢ial statements of the U K Onshore Geophysical
Library for the 1 January 2023 to 31 December 2023. The Annual report seNes the purposes of both a Trustees.
report and a directors, report under company law. The Trustees confimi that the Annual report and financial
statements of the charitsble company comply the current statutory requirements, the requirements of the
charitable companws governing document and the provisions of the Statement of Recommended Practice
{SORP) applicable to charities preparing their accounts in a¢¢ordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the company qualifies as small undef section 382 of the Companies A¢t 2006, the Strategic report
required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors,
Report) Regulations 2013 has been omitted.
Reference and administrative details
Reference and administralive details are shown in the schedule of members of the board and professional
adisers on page 1 of the financial statements.
Structure, govemance and management
The UK Onshore Geophysical Libraryllhe Librarf) was estsblished in 1994 as a company limited by guarantee
and a registered charity. The Library is administered by a group of Trustees, which shall be not less than three
nor more than nine. In accordance wilh an amendment to the Articles approved in September 2021, new
Trustees shall be persons nominated by a simple majority of the existing Trustees. Each Trustee is given an
appropriate induction programme and training relevant to their responsibility. The Trustees normally also serve
as Directors of the company.
The operation of the Library was originally contracted to Lynx Information Systems Limited fLynxl, which
specialises in the management of seismic dala. This contract was terminated by mutual consent on 31
December 2021, although the Library continues to use Lynx for accounting services, website management and
approved projects on an ad hoc basis. since UKOGL has no employees.
Malcolm Butler has held the role of Chair, and effecttvely chief exe¢utive, since the charity was established in
1994. To provide management Gontinuty for the future, Mark Abbott kindly accepted the role of Vice-chair in
February 2023 and ts now involved in day-to-day decisions of the charity.
Objectives and activities
The tharitable objects of the Library as set out in tts amended Articles of Association dated 18 February 2022
are:
1)
to advance the education for the public benefft concerning Ihe geological and geophy6ical data relating to
the United Kingdom, in particular by the establishment and maintenance of a national collection of such
data. including but not limited to data fijmished to the Secretary of State for Energy and subsequently
published by him pursuant to ￿cenceS granted in respect of landward areas under the Petroleum
(Production) Act 1934.
to act as agent for the Secretary of State for the purpose of publication of data.
to transfer and store such data in such forms and media as may be desirable"
to make such data available to the general public at reasonable cost;
to promote and facilitste research into the deep geology and underground resources of lanfknrd areas of
the United Kingdom.
2)
3)
4)
5)
Page 2

U K ONSHORE GEOPHYSICAL UBRARY
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
(continued)
Since the Library was estsblished, the inttial dats collected have been seismi¢ information acquired by
companies exploring for onshore oil and gas. These data were tradiknonally recorded on magnetic tapes, with
important ancillary data in separate paper fjles. In the original form, these data are vulnerable to loss, damage
and decay. They are troublesome to store and difficult and costly to access. The work of the Library has been
to locate these data and transfer them from magnetic tapes and paper records to more stable digital media:
initially compact discs but now to large hard drives with in-built back-up and security systems. The transfer
operation is costly, since it also involves checking all data for accuracy and completeness, but once in archlved
form the data can readily be made available to interested parties at reasonable cost. Indeed. images of all
seismic dats can be freely viewed and do￿lOaded via the website. The Library is thus able to promote and
facilitate research into the geology and underground resources of landward areas of the United Kingdom,
including not just the potential for mineral resources but also water. geothermal energy. carbon capture and
storage, hydrogen storage and environmental work. The Library is also a very important source of data for
academic research.
The policy of the Library is to encourage holders of the relevant seismic dats to make them available through the
Library and, where possible, provide financial assistance towards the cost of transferring data from tapes to
stable media. The data remain available to the original holders, who also save on future storage ¢osts and will no
longer retain an obligation to the North Sea Transition Authortty (WSTA.) to curate such data. Digital seismic
field data are supplied to academic institutions at mlnimal cost and the wide range of other archived geoSogical
and processed geophysical data is made available at no cost to teachers, researchers and other interested non-
commercial users at all levels.
Now that the Library of hlstoric selsmic data is effectively complete. the curation of newly reGorded selsmic data
forms a relatively small part of the work of the Library. In most ¢ase5, these dats are transferred to the Library
immediately after being recorded and are held in confidence until they become eligible for release. currently after
4 years. However, small volumes of hitherto lost hlstoric seismic data continue to come to light from time to time.
The Lbbrary expanded beyond seismic dats in 2015 by purchasing from Mosaic Llmited the archive of released
industy reports on licence applications, relinquishments and field ststus updates that company had been
marketing to the oil industy under an agreement with what is now the NSTA. With the cancellation of the
NSTAIMosaiG agreement, UKOGL continues to provide reports in downloadable pdf format for free access
online, together with a large number of additional released reports provlded by companies and the NSTA. These
reports represent a significant resource of previously confidential data and interpretations relating to onshore
geology.
The Library has continued to broaden Ihe scope of its work, in part by means of its agreement with the NSTA
and the British Geological Survey {8GS) to assist in the checking and archiving of data received by the BGS
from released onshore wells drilled in the search for and production of oil and gas. The Library continues its
responsibility for searching out and obtaining well logs and reports known to have been recorded in or produced
from onshore wells but not currenty available from the BGS.
The Directors and Trustees have given the regard to the public benefft guidance published by the Charity
Commission in accordance with Seclion 4 of the Charities Act 2011.
Page 3

U K ONSHORE GEOPHYSICAL LIBRARY
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Achievements and perforniance
Full archiving of 2D seismic data in 2023 was 363.17 kms, consisting of reprocessed Isle of Wight data and
Bristol Channel offshore data in newly-defined landwaTd areas. compared with 78.95 2D knis and 41.42 km2 of
3D data in 2022. Total provision to industrial users in 2023 was 14,997 kms of2D seismic and 1,233 km2 of 3D
seismlc, this is an increase from the provision of 8.525 combined 2D and 3D kmslkms2 in 2022. A total of 548
knis of 2D data byere provided to the BGS in 2023 (2022: 201 kilometres).
Following on from the implementalion of 'Beneath Britain" in 2018 and the ability to request and do￿lOad dats
on-line implemented in 2022. a combined total of over 25,399 kmslkms2 of digital 2D and 3D dats was supplied
for research and teaching purposes to universities, interested individuals and schools in 2023. a signtficant
increase from 7.337 kÈlometre5 in 2022.
Following the termination in 2022 of the exclusive rights given by the NSTA and predecessors to several Data
Release Agents to obtain and licence hard copy and digitsl data from wells drilled onshore in the search for oil
and gas, the BGS was contracted by the NSTA to make freely available well data that had been deposited with it
under the licensing regulalions. However, well logs scanned by the Data Release Agents and digital files
compiled by them in LAS format are considered to be ￿alue added. products, which have not been archived with
the BGS and cannot be made freely available. In 2023, UKOGL therefore expanded its data search by
approaching current and former onshore licence operators to obtain access to original digital data and, where
necessary, converting them to LAS format. The Trustees are very grateful to iGas (now Star Energy) for
providing acces5 to tts substantial library of onshore LAS data and to Shell for contributing data from its operated
wells. At the end of 2023. agreement was reached with BP to gain access to and transcribe to LAS its complete
store of some 1,900 tapes of onshore digital well data, for which UKOGL paid nearly £20,000 towards the cost of
transcription. A total of 875 wells drilled for oil and gas now have LAS ffiles available for free download from the
UKOGL website, of whlch 384 were recovered from the BP tapes. Scans of composlte well logs, well completion
reports and velocty survey information are also available for free download.
We continue to seek data on coal and other boreholes which are currently notfreely available and have had
significant successes in 2023. As part of our search for LAS fjles for oil and gas wells, we have managed to
source a large number of digital files from coal boreholes that were held on 5 Y.. tloppy disks. These have been
transcribed and LAS files frorn 310 coal boreholes are now also available for free download from the UKOGL
website. In addition to the LAS files, formation tops and other information are now available online for 2152 w￿lIS
ori9inally drilled in the search for oil and gas and 3.427 boreholes drilled for coal. water and other purposes.
Development of links and digital feeds to extemal websites from the UKOGL Interactive Map have been
implemented; these include links and feeds of licence and survey informalion to and from the NSTA-National
Data Repository (NDR) website and a Li¢ence feed from the Scottish Government website to display onshore
liGen¢es managed by the Scottish authority.
The Library continued to sponsor and maintain the Wllliatn Smith Interactive Map, site as part of a wder
educational reach to promote geology to a broader audience (htts)".IlvwM.strata-smith.¢om). The Trustees also
remain keen to promote the use of seismic and well dats by schools and we continued to support the sub-
surfrocks.org.uk website during the year.
UKOGL continues to aid the NSTA and the BGS to assess, verify and distribute UK onshore well data to the
relevant authorities as they become available ft)r release, acting as an important link between the well operators
and the BGS.
Page 4

U K ONSHORE GEOPHYSICAL UBRARY
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Financial revièw
The Library achieved a positive movement in funds in 2023, at £129,440 {2022: 423,653). The Library's
princlpal source of income during the year came from the licensing of data for activities that are thought to be
unrelated lo oil and gas (note thatthe Trustees are not privy to details of data licensed for commercial
purposes). Activity continues to pick up in the search ft)r onshore geothemal energy and for sub-surface
storage of C02, Hydrogen and nuclear waste. Several further substantial licensing agreements have already
been agreed in 2024. with consequent increases in cash available for the Librarvs projects. Net current assets
at the end of 2023 increased to £ 247.094 (2022: £ 76,319). The annual Contribution by NSTA of £40.666, half
of which is dedicated to the cost of transferring data to the NDR and the other half to maintaining UKOGL during
the period when seismic data are being transferred, has ceased in 2024. However. such data transfer has not
yet been completed and is likely to tske at least another year at current rates. Current projections indicate that
UKOGL can complete existing projects and continue to support the website, including free download of seismic
and well data by non-commercial users, for at least a further two years beyond the end of 2024.
Designated funds
A restoration reserve is malntained ￿1th1￿ unrestricted funds to provide for the cost of transferring the Library to
new storage media ￿en the existing media require replacement. 7.50/0 of the amount spent establishing the
data library each year is transferred to this fund.
A separate reserve is also malntained Y￿￿1n the unrestricted funds in order to maintsln the Library should it
suffer a substantial reduction in income. £25.000 was transferred into this fund at 31 December 2001.
£5,000 has been maintained in an academic fund ￿thin unrestricted fvnds to date, in order to ensure that
academic institutions continue to have free acce5S to the Library.
Restricted fund
A restricted fvnd vlas set up in 2018 for Beneath Britain. The plan is to transfer existing UKOGL funds
designated for academic projects into Beneath Britain and set up a separate accounts system to monitor it. For
the time being, the Directors plan to retain the formal Ilnk wÈth UKOGL and make joumal entries into the main
UKOGL accounts at each year end for fjling purposes with the Charities Commission and HMRC.
Page 5

U K ONSHORE GEOPHYSICAL LIBRARY
TRUSTEES. REPORT {CONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Plans for future periods
In late 2023. the NSTA began to provlde additional ring-fenced funds to UKOGL to enable Lynx to progress with
uploading onshore UK seismic data to the NDR. The provision of UKOGL'S database of digital SEGY seismic
data to the NDR had begun in mi&2023 but is unlikely to be completed until late-2025 without significant new
ring-fenced funding from the NSTA. Once this has taken place, such data will be made available for dovmload
from the NDR to both academic and ￿mmercIal users at no charge, thereby removing the origina5 source of
UKOGL'S revenue stream. However, the Directors believe that the NDR is unlikely to be able to provide the
large volume of scanned historic and ancillary information which is currenly available for download from the
UKOGL website for some tlme. if at all. In addttion, UKOGL holds a great deal of data that falls outside the
scope of the NSTA and NDR. which are only involved in onshore oil and gas matters in England following the
2018 devolution changes.
It is the intention of the TNstees to find Wa￿ of maintaining the UKOGL website and database after the delivery
of digÉtsl data to the NDR to ensure that UKOGL will continue to play an important role as a simple, accessible
and reliable source of UK subsurface data. NSTA funding is unlikely to be available for periods beyond April
2025. The provision of data for oil and gas activvties is much reduced. but new requests for data are coming from
aGademiG research projects and recenlly from commercial projects investigating the use of the subsurface to
advance the Govemment's plans for°Net Zero" by 2050, including nuclear waste storage. geothermal energy,
carbon capture utilisation and storage (CCUS) and hydrogen storage. The Trustees will increasingly look to
secure fvnds from organisations supporling these Net Zero objectives.
As noted last year, the COVID pandemic meant that physical access to the workstation held by Beneath Britain
at Oxford was not possible through most of 2021 and 2022. In 2023, the Shell Research Laboratory in the Earth
Sciences Department was much reduced in size, such that there was no room for UKOGL'S workstation, and
activities related to oil and gas data are no longer supported at Oxford. Although the expansion ofthe data
available online through the UKOGL website means that access to a physical workstation to review seismic and
other data is no longer a necessity, access to the Beneath Britsin data and online publications is still required.
Discussion are now undeTway to transfer the hosting of Beneath Britsin to a relevant department in another
University that understands the need to utilise legacy oil and gas dats on the path to Net Zero. NO￿lthStanding
this uncertainty, good progress ts indeed being made in providing dats for a wide range of academlc research
projects. many of which are related to aGhieving Net Zero targets. With the help of the relevant research workers.
Beneath Britain plans to publish regular progres5 updates on these projects, together with copies of any interim
reports that can be made available in the public domain.
The up-tum in revenues in 2023, which has continued into 2024 has enabled the Directors to fund a number of
new projects. The Directors will continue to promote research on the subsurface of the UK and seek to
disseminate information to a wider audience, both to stimulate interest and to provide scientific background for
government and commercial applications.
Page 6

U K ONSHORE GEOPHYSICAL LIBRARY
TRUSTEES. REPORT (CONTINUED)
FOR THEYEAR ENDED 31 DECEMBER 2023
Statement of Trustees, responsibilities
The Trustees (who are also the directors of the company for the purposes of company law) are responsible for
preparing the Trustees. report and the financial statements in accordance with applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial Under ¢ompany law, the
Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of
the state of affairs of the company and of its incoming resources and application of resources, including its
income and expenditure, for that period. In preparing these financial statements, the TNStees are required to:
select suitable accounting policies and then apply them consistently;
observe the methods and principles of the Charities SORP (FRS 102);
make judgments and accounting estimates that are reasonable and prudent"
state whether applicable UK Accounting Stsndards (FRS 102) have been followed, subject to any material
departures disclosed and explained in the ffinancial statements"
prepare the financial statements on the going concem basis unless it is inappropriate to presume that the
companywill continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the company's transactions and disclose with reasonable accuracy at any time the financial position of the
company and enable them to ensure that the financial ststements comply wtth the Companies Act 2006. They
are also responsible for safeguarding the assets of the company and hence for taklng reasonable steps for the
prevention and detectton of fraud and other i￿egUlarlties.
Approved by order of the members of the board of Trustees and Si￿ed on their behalf by:
Mfs P Mohamed
Company Secretary
Date.. 2 1
Page 7

U K ONSHORE GEOPHYSICAL LIBRARY
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
Independent examiner's report to the Tyustees of U K Onsh0￿ Geophysical Library (￿e
company)
I report to the Trustees (who are also Directors for the Purposes of company law) on my examlnaf on of Ihe
financial statements of UK Onshore Geophysical Library (the charitable company,) for the year ended 31
December 2023 which comprise the Statement of Financial Activities, the Statement of Flnanclal Posttion and
related notss.
This report is made solely to the charitys Trustees, as a body, in accordance with section 145 of the Charities
Act 2011. My work has been undertaken so that I might state to the charÉWs trustees those matters l am
required to State to them in this report and for no olher purpose. To the fvllest extent premitted by law, I do not
accept or assume responsibility to anyone other than the thaiity and the charity's twstees as a body, for my
work, for this repor( or for the opinions I have formed.
Responsibilitie5 and basis of report
As the Twstees of the charitable company you are responsible for the preparation of the financial statements in
accordance with the requirements of the Companies Act 2006 (Ihe 2006 Act?.
Hawng satisfied myself that the financial statements of the charitable company are not required to be audited
under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination
of the charitable companvs financial ststements carried out under section 145 of the Charities Act 2011 (llhe
2011 ACV). In carying out my examination I have followed all the applicable Directions gNen by the Charity
Commission under section 145{5)(b) ofthe 2011 Act.
An independent examination does not involve gathering all the evidence that would be required in an audtt and
consequently does not cover all the matters that an auditor Considers in giving their opinion on the finan¢ial
ststements. The planning and conduct of an audit goes beyond the limited assurance that an independent
examination can provide. Consequenlly l express no opinion as to whether the financial ststements present a
rue and fairf view and my report is limited to those specific matters set out in the independent examinerfs
statement.
Page 8

U K ONSHORE GEOPHYSICAL LIBRARY
INDEPENDENT EXAMINER'S REPORT (CONTINUED)
FOR THEYEAR ENDED 31 DECEMBER 2023
Independent examineff s statement
I have completed my examination. I confinn that no material mattefs have come to my attention in connection
with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the charitable Gompany as required by sectÈon 386 of the
2006 Act,. or
the financial Statements do not accord with those re￿rds. or
the financial ststements do not Comply with the accounting requirements of sectton 396 of the 2006 Act
other than any requirement that the accounts give a Xrue and fairf view which is not a matter consldered
as part of an independent examination: or
the financial statements have not been prepared in accordance Wbth the methods and principles of the
ststement of Recommended Practice for accounting and reporting by charities applicable to charities
preparing their accounts in accordance with the Financlal Reporting Standard applicable in the UK and
Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connectson with the examination to which
attention should be drawn in this report in order to enable a proper understsnding of the financial statements to
be reached.
Andrew 8urch FCA
Sayers Buttebworth LLP
3rd Floor
12 Gough Square
London
EC4A 3DW
Date.. 22 August 2024
Page 9

U K ONSHORE GEOPHYSICAL LIBRARY
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2023
Restricted Unrestricted
funds
funds
2023
2023
Total
funds
2023
Total
funds
2022
Note
Income from:
Charitable activits'es
545,715
545,715
209,982
Total income
545.71 S
545,716
209,982
Expenditure on:
Charitable activlties
416,275
416.275
233,635
Total expenditure
416.276
416.275
233,635
Net incomel(expenditsre)
129.440
129,440
(23,653)
Net movement in funds
129,440
129,440
(23,653)
Reconciliation of funds:
Total fvnds brought forward
Net movement in funds
25.895
322,430
129,440
348.325
129N40
371,978
(23,653)
Total funds rarried forward
25,895
451,870
477,765
348,325
The Ststement of financial activities includes all gains and losses recognised in the year.
The notes on pages 13 to 21 form part ofthese financial statements.
Page10

U K ONSHORE GEOPHYSICAL LIBRARY
REGISTERED NUMBER: 02927628
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
The company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audtt for the year in question in accordance with
section 476 of Companies Act 2006.
The Trustees acknowtedge their responsibilities for compljing with the requirements of the Act with respect to
accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entttes subject to
the small companies regime.
The financial ststements y￿re approved and authorised for issue by the Trustees and signed on their behalf by:
Dr M Butler
Date: Li Prb
The notes on pages 13 to 21 form part of these financial statements.
Page 12

U K ONSHORE GEOPHYSICAL LIBRARY
REGISTERED NUMBER: 02927628
BALANCE SHEET
ASAT 31 DECEMBER 2023
2023
2022
Fixed assets
Tanglble assets
230,671
272,006
230,671
272,006
Current assets
Debtors
Cash at bank and in hand
16,566
292.242
3,199
91,240
308M08
94,439
Creditors: amounts falling due within one
year
(61,714)
(18,120)
Net current assets
247.094
76,319
Total assets less current liabilities
477.766
348,325
Net assets excluding pension asset
4TT,765
348,325
Total net assets
477,765
348,325
Charty funds
Restricted funds
Unrestricted funds
11
25,895
451,870
25,895
322.430
Total funds
477,765
348,325
Page11

U K ONSHORE GEOPHYSICAL UBRARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Generdt Inforniation
U K Onshore Geophysical Library 15 a company limited by guarantee. company number 02927628. and a
registered charity, charity number 1038161. The company and charity are registered in England and
Wales and its registered office address is 3rd Floor. 12 Gough Square, London, EC4A 3DW.
Accounting policies
2.1 Basis of preparation of financlal sL3tements
The financial ststements have been prepared in accordance the Charities SORP (FRS 102) -
Accounting and Reporting by Charities". Ststement of Recommended Practice applicable to chartties
preparing their accounts in accordance w5th the Financial Reporting Standard applicable in the UK
and Republic of Ireland {FRS 102) (effective 1 January 2015), the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
U K Onshore Geophysical Library meets the definttion of a public benefit entity under FRS 102.
Assets and liabilities are initially recognised at historical cost or transaction value unless othe￿iSe
stated in the relevant accounting policy.
There are no material uncertainties about the chantys ability to Continue, and so the going concem
basis of accounting has been adopted.
The financial statements are presented in pounds sterling and recorded to the nearest pound.
2.2 Going concem
The finan¢iaS statements have been prepared under the going concem basis as the Trustees have a
reasonable expectation that the company has adequate resources to continue in operational
existence for the foreseeable fi￿re.
2.3 Income
All income is recognised once the company has entitlement to the income, it is probable that the
income wlll bè received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment
income Is receivable.
2A Expendi￿re
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefrt
to a third party. it is probable that a transfer of economic beneffts will be required in settlemenl and
the amount of the obligation can be measured reliably. Expenditure is Classified by activity. The costs
of each activlty are made up of the total of direct Costs and shared Costs, including support costs
involved in undertaking each aclivity. Direct costs attributable to a single activity are allocated directly
to that activity. Shared costs which contribute to more than one activity and support costs which are
not attributable to a single activity are apportioned between those activities on a basis consistent with
the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation
charges allocated on the portion of the asseys use.
Expenditure on charitsble activities is incurred on directly undertaking the activities which further the
CoMpan￿S objectives, as well as any associated support costs.
Page 13

U K ONSHORE GEOPHYSICAL LIBRARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies (continued)
2.4 Expendi￿re (continued)
All expenditure is indusive of irrecoverable VAT.
2.5 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the Cost model, tangible
xed assets are measured at cost less accumulated depreciation and any accumulated impairment
losses. Atl costs incurred to bring a tangible fixed asset into intended working condition should be
induded in the measurement of cost.
Depreciation is charged so as to allocate the cost of langible fixed assets less their residual value
over their estimated useful lives.
Depreciation is provided on the following bases:
Fixtures and fittings
Computer equipment
Other fixed assets
10% p.a.
15% p.
Over 15 Yea￿ on a straight line basis
2.6 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments wtth a short malurfty
of three months or less from the date of acquisilion or opening of the deposrt or similar account.
2.8 Liabllltlès and provlslons
Llabilities are recognised when there Is an obligation at the Balance sheet date as a result of a past
event, it is probable that a transfer of economic benefft will be required in settlement, and the amount
of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the company anticipates bt will pay to settle the debt or
the amount it has received as advanced payments for the goods or services it must provide.
2.9 Financial instNments
The company only has financial assets and financial liabilities of a kind that qualify as baslc financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured at their setuement value the exception of bank loans which are subsequently
measured at amortised cost using the effective interest method.
Page 14

U K ONSHORE GEOPHYSICAL UBRARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policies {continued)
2.10 Fund accounting
General funds are unrestricted fijnds which are available for use at the discretion of the Tnjstees in
rtherance of the general objectives of the company and which have not been designated for other
purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for partlwlar
purposes. The aim and use of each designated fund is set out in the notes to the financial
statements.
Restricted funds are funds which are to be used in accordance with specific restrlctions imposed by
donors or which have been raised by the company for particular purposes. The costs of raising and
adrninistering such funds are charged against the specific ￿nd. The aim and use of each restricted
fund is set out in the notes to the fjnancial statements.
Income from charitable activities
Unrestricted
funds
2023
Total
funds
2023
Data library income
Beneath Britain
545,715
545.715
545,715
545,715
Restricted Unrestricted
funds
funds
2022
Total
funds
2022
2022
Data library income
Beneath Britsin
209,794
209,794
188
188
188
209,794
209,982
Page 15

U K ONSHORE GEOPHYSICAL LIBRARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Analysis of expenditure on charitable activities
Summary by fund type
Unrestrictsd
funds
2023
Total
2023
Data library
Support costs
Other governance costs
394,724
6,817
14,734
394,724
6,817
14.734
416,275
416,275
Unrestri¢ted
funds
2022
Total
2022
Data library
Support costs
Other govemance costs
210,887
5,526
17,222
210,887
5,526
17,222
233,635
233,635
Independent examinerfs remuneration
2023
2022
Fees payable to the companys independent examiner for the independent
examination of the company's annual accounts
3.400
Page 16

U K ONSHORE GEOPHYSICAL UBRARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Trustses. remuneration and expenses
During the year, one of the Trustees claimed travel expenses of £1 ,310 (2022 - £NIL).
Tangib￿ r￿ed assets
Fixtures and
fittings
Computer
equipment
library
Total
Cost or valuation
At 1 January 2023
Additions
1.TlO
13,063
3,027,185
10,377
3,042,018
10,3TT
At 31 December 2023
1.770
13,063
3,037.562
3,052,396
Deprnciation
At 1 January 2023
Charge for the year
1.770
13,062
2,755,180
51,711
2,TIO,012
S1,712
At 31 December 2023
1,770
13,063
2.806091
2￿21,724
Net book value
At 31 December 2023
230.671
230,671
At 31 December 2022
272,005
272.006
Debtors
2023
2022
Due within one year
Trade debtors
Prepayments and accrued income
14,332
2,234
1,069
2,130
16,566
3.199
Page 17

U K ONSHORE GEOPHYSICAL LIBRARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Creditors.. Amounts falling due within one year
2023
2022
Trade credit(Ys
Other tsxation and soclal securlty
Accruals and deferred income
43,678
3,819
14,217
2,923
1,380
13,817
61,714
18,120
10. Financial instruments
2023
2022
Financial assets
Financial assets measured at amortised cost
306,574
92.309
2023
2022
Financial liabilities
Financial liabilities measured at amortised cost
43,678
2,923
Financial assets measured at amoriised cost comprise cash at bank and trade and other debtoTr.
Financial liabilities measured at amortised cost comprise trade creditors.
Page 18

U K ONSHORE GEOPHYSICAL UBRARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
11. Statement of funds
Statement of funds - current year
8alance at
31
December
2023
Balance at 1
January
2023
Transfers
inl{out)
Income Expenditure
Unrestricted funds
Restoration Reserve
Reserve Fund
General Funds
Academic Fund
80,564
25,000
211066
s,000
2,949
83,513
25,000
338,357
6,000
545.715
(416,275}
(2,949)
322,430
545,715
(416,275)
451,870
Restricted funds
Beneath Britsin
25,895
25,896
Total of funds
348.325
545,715
(416,275)
477,765
Page 19

U K ONSHORE GEOPHYSICAL LIBRARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
11. Statement of funds (continuedl
Statement of funds - prior year
Balance at
31
December
2022
Balance at
1 January
2022
Transfers
inl(out)
Income Expenditure
Unrestricted funds
Restoralion Reserve
ReseTve Fund
General Funds
Academic Fund
80.564
25,000
235.707
5,000
80,564
25,000
211,866
5,000
209,794
(232,817)
(818)
(818)
818
346,271
209,794
(233,635)
322,430
Restricted funds
Beneath Britsin
25,707
25.895
Totsl of funds
371.978
209,982
(233,635)
348,325
12.
Summary of funds
Summary of funds - current year
Balance at
31
December
2023
Balance at 1
January
2023
Transfers
inl{out)
Income Expenditure
General funds
Restricted funds
322,430
25,895
546,715
1416275)
451070
25,895
348,325
545,715
{416,275)
477,765
Page 20

U K ONSHORE GEOPHYSICAL LIBRARY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
12. Summary of funds (continuedl
Summary of funds - prior year
Balance at
31
December
2022
Balance at
1 January
2022
Transfers
inl(out)
Income Expenditure
General fijnds
Restricted funds
346.271
25,707
209.794
188
(233,635)
322,430
25,895
371 ,978
209.982
(233,635)
348,325
13. Analysis of net assets between funds
Analysis of net assets between funds - current year
Restricted Unrestricted
funds
funds
2023
2023
Total
funds
2023
Tangible fixed assets
Current assets
Creditors due %Mthin one year
230,671
282,913
(61 ,714)
230.671
308,808
161,714)
25,895
Totsl
25,895
451,870
477,765
Analysi5 of net assets between funds - prior year
Restricted Unrestricted
funds
funds
2022
2022
Total
funds
2022
Tangible fixed assets
Current assets
Creditors due within one year
272,006
68.545
(18,120)
272,006
94,440
(18,120)
25,895
25.895
322,431
348,326
Total
Page 21