J & A Energy Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: SC402758 (Scotland)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

J & A ENERGY LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTORS:

A Ramsay

J Ramsay

REGISTERED OFFICE:

Cardryne

Drummore

STRANRAER

DG9 9HL

REGISTERED NUMBER:

SC402758 (Scotland)

ACCOUNTANTS:

Bell Ogilvy

Chartered Accountants

36 King Street

Castle Douglas

Dumfries & Galloway

DG7 1AF

BANKERS:

Clydesdale Bank

89 Hanover Street

STRANRAER

DG9 7RN

FIXED ASSETS

Tangible assets

2

1,198,251

844,428

CURRENT ASSETS

Debtors

127,661

116,375

CREDITORS

Amounts falling due within one
year

3

835,035

385,858

NET CURRENT LIABILITIES

(707,374

)

(269,483

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

490,877

574,945

CREDITORS

Amounts falling due after more
than one year

3

551,719

625,838

NET LIABILITIES

(60,842

)

(50,893

)

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

(60,942

)

(50,993

)

SHAREHOLDERS' FUNDS

(60,842

)

(50,893

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 30 November 2016
and were signed on its behalf by:

A Ramsay - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and

in accordance with the Financial Reporting Standard for Smaller Entities (effective

January 2015).

Turnover

Turnover represents net invoiced sales of goods and services supplied to customers

during the year, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & Machinery - 15% on reducing balance.

Deferred tax

Deferred taxation is provided on the liability method to take account of timing

differences between the treatment of certain items for accounts purposes and their

treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of

all material timing differences.

Revenue recognition

In accordance with the principle of revenue recognition, income is recognised as the

right to consideration obtained through performance of obligations and is included in

the financial statements when the company is legally entitled to the income.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

1,232,986

Additions

565,279

At 31 March 2016

1,798,265

DEPRECIATION

At 1 April 2015

388,558

Charge for year

211,456

At 31 March 2016

600,014

NET BOOK VALUE

At 31 March 2016

1,198,251

At 31 March 2015

844,428

3.

CREDITORS

Creditors include an amount of £ 951,293 (2015 - £ 822,031 ) for which security has

been given.

They also include the following debts falling due in more than five years:

2016

2015

£

Repayable by instalments

227,414

312,866

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100

5.	GOING CONCERN

The directors are aware that at the balance sheet date the company had net liabilities

of £60,842 (2015; £50,893). The directors are optimistic that this position will be

reversed in future periods. The directors have confirmed they will not seek repayment

of their loans to the detriment of other creditors.

The following reproduces the text of the report prepared for the directors in respect

of the company's annual unaudited financial statements, from which the unaudited

abbreviated accounts (set out on pages two to five) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared

for your approval the financial statements of J & A Energy Limited for the year ended

31 March 2016 which comprise the Profit and Loss Account, the Balance Sheet, and the

related notes from the company's accounting records and from information and explanations

you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance.

This report is made solely to the Board of Directors of J & A Energy Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of J & A Energy Limited and state those matters that we have agreed to state to the Board of Directors of J & A Energy Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that J & A Energy Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of J & A Energy Limited. You consider that J & A Energy Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of J & A Energy Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Bell Ogilvy

Chartered Accountants

36 King Street

Castle Douglas

Dumfries & Galloway

DG7 1AF

1 December 2016