REGISTERED NUMBER: SC205389 (Scotland)

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016

FOR

AG OIL & GAS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

A G Gauld

SECRETARY:

Mrs R M Gauld

REGISTERED OFFICE:

Wickerinn

Raemoir Road

Banchory

Aberdeenshire

AB31 5QX

REGISTERED NUMBER:

SC205389 (Scotland)

ACCOUNTANTS:

Bon Accord Accountancy Limited

71 Charleston Road North

Cove

Aberdeen

Aberdeenshire

AB12 3SZ

FIXED ASSETS

Tangible assets

2

2,813

2,531

Investments

3

311,028

261,919

313,841

264,450

CURRENT ASSETS

Debtors

57,703

75,473

Cash at bank

286,256

312,343

343,959

387,816

CREDITORS

Amounts falling due within one year

58,260

58,391

NET CURRENT ASSETS

285,699

329,425

TOTAL ASSETS LESS CURRENT LIABILITIES

599,540

593,875

PROVISIONS FOR LIABILITIES

563

521

NET ASSETS

598,977

593,354

CAPITAL AND RESERVES

Called up share capital

4

10

10

Profit and loss account

598,967

593,344

SHAREHOLDERS' FUNDS

598,977

593,354

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 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.

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 director on 29 November 2016 and were signed by:

A G Gauld - 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, 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.

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

5,503

Additions

2,282

At 31 March 2016

7,785

DEPRECIATION

At 1 April 2015

2,972

Charge for year

2,000

At 31 March 2016

4,972

NET BOOK VALUE

At 31 March 2016

2,813

At 31 March 2015

2,531

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2015

261,919

Additions

49,109

At 31 March 2016

311,028

NET BOOK VALUE

At 31 March 2016

311,028

At 31 March 2015

261,919

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

£

10

Ordinary

£1

10

10