J & A Energy Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: SC402758 (Scotland)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

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

641,849

715,552

CURRENT ASSETS

Debtors

48,829

193,931

Cash at bank

157,778

-

206,607

193,931

CREDITORS

Amounts falling due within one year

3

230,293

1,002,333

NET CURRENT LIABILITIES

(23,686

)

(808,402

)

TOTAL ASSETS LESS CURRENT LIABILITIES

618,163

(92,850

)

CREDITORS

Amounts falling due after more than one year

697,366

-

NET LIABILITIES

(79,203

)

(92,850

)

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

(79,303

)

(92,950

)

SHAREHOLDERS' FUNDS

(79,203

)

(92,850

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 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 16 December 2014 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 April

2008).

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 2013

841,826

Additions

39,564

At 31 March 2014

881,390

DEPRECIATION

At 1 April 2013

126,274

Charge for year

113,267

At 31 March 2014

239,541

NET BOOK VALUE

At 31 March 2014

641,849

At 31 March 2013

715,552

3.

CREDITORS

Creditors include an amount of £ 0 (2013 - £ 414,127 ) for which security has been

given.

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

2014

2013

£

£

Repayable by instalments

395,331

-

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1

100

100

5.	GOING CONCERN

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

£79,203 (2013; £92,850). 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 2014 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 profit 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

16 December 2014