REGISTERED NUMBER: SC158863 (Scotland)

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2013

FOR

MIDMAR ENERGY LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

7

DIRECTOR:

P J Redman

REGISTERED OFFICE:

12-16 Albyn Place

Aberdeen

AB10 1PS

REGISTERED NUMBER:

SC158863 (Scotland)

ACCOUNTANTS:

Carter & Coley

3 Durrant Road

Bournemouth

Dorset

BH2 6NE

FIXED ASSETS

Tangible assets

2

-

769

Investments

3

-

33,809

-

34,578

CURRENT ASSETS

Debtors

928

358,623

Cash at bank and in hand

651

1,481

1,579

360,104

CREDITORS

Amounts falling due within one year

1,090,376

1,057,075

NET CURRENT LIABILITIES

(1,088,797

)

(696,971

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,088,797

)

(662,393

)

CAPITAL AND RESERVES

Called up share capital

4

400,001

400,001

Profit and loss account

(1,488,798

)

(1,062,394

)

SHAREHOLDERS' FUNDS

(1,088,797

)

(662,393

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2013 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 3 September 2014 and were signed by:

P J Redman - Director

1.	ACCOUNTING POLICIES

Accounting convention

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

Preparation of consolidated financial statements

The financial statements contain information about Midmar Energy Ltd as an individual company and

do not contain consolidated financial information as the parent of a group. The company has taken the

option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Financial reporting standard number 1

Exemption has been taken from preparing a cash flow statement on the grounds that the company

qualifies as a small company.

Tangible fixed assets

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

Plant and machinery etc

-

20% 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

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 January 2013

and 31 December 2013

26,259

DEPRECIATION

At 1 January 2013

25,490

Charge for year

769

At 31 December 2013

26,259

NET BOOK VALUE

At 31 December 2013

-

At 31 December 2012

769

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 January 2013

33,809

Impairments

(33,809

)

At 31 December 2013

-

NET BOOK VALUE

At 31 December 2013

-

At 31 December 2012

33,809

The company's investments at the balance sheet date in the share capital of companies include the

following:

Midmar Energy UK Limited

Nature of business: Oil exploration

%

Class of shares:

holding

Ordinary

100.00

2013

2012

£

£

Aggregate capital and reserves

(185,826

)

(49,295

)

Loss for the year

(136,531

)

(13,660

)

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2013

2012

value:

£

£

300,001

Ordinary

£1

300,001

300,001

100,000

Ordinary A

£1

100,000

100,000

400,001

400,001

The following reproduces the text of the report prepared for the director in respect of the company's

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on

pages two to six) 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 Midmar Energy Ltd for the year ended 31 December 2013 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 in England and Wales (ICAEW), we

are subject to its ethical and other professional requirements which are detailed at

icaew.com/membershandbook.

This report is made solely to the director of Midmar Energy Ltd in accordance with our terms of

engagement. Our work has been undertaken solely to prepare for your approval the financial statements of

Midmar Energy Ltd and state those matters that we have agreed to state to the director of Midmar Energy

Ltd in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent

permitted by law, we do not accept or assume responsibility to anyone other than the company and its

director for our work or for this report.

It is your duty to ensure that Midmar Energy Ltd 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 Midmar Energy Ltd. You consider that Midmar Energy Ltd 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 Midmar Energy

Ltd. 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.

Carter & Coley

3 Durrant Road

Bournemouth

Dorset

BH2 6NE

3 September 2014