Antelope Oil Tools UK Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: SC486263 (Scotland)

Abbreviated Unaudited Accounts for the Year Ended 31 December 2015

for

ANTELOPE OIL TOOLS UK LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Chartered Accountants' Report

4

DIRECTORS:

D Cameron

W Kelley

REGISTERED OFFICE:

7 Queens Gardens

Aberdeen

AB15 4YD

REGISTERED NUMBER:

SC486263 (Scotland)

ACCOUNTANTS:

Brand Jamieson & Co. Ltd.

Chartered Accountants

2 Victoria Place

Rutherglen

Glasgow

G73 2JP

CURRENT ASSETS

Stocks

100,301

-

Debtors

412,510

294,536

Cash at bank and in hand

5,474

100

518,285

294,636

CREDITORS

Amounts falling due within one year

(676,583

)

(359,515

)

NET CURRENT LIABILITIES

(158,298

)

(64,879

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(158,298

)

(64,879

)

CAPITAL AND RESERVES

Called up share capital

2

100

Profit and loss account

(158,398

)

(64,979

)

SHAREHOLDERS' FUNDS

(158,298

)

(64,879

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 1 May 2016 and were signed on its behalf by:

D Cameron - Director

W Kelley - 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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

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.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

£

100

Ordinary

£1

100

3.	ULTIMATE PARENT COMPANY

IC AOT Holdings LLC (incorporated in USA ) is regarded by the directors as being the company's ultimate

parent company.

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 three)

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 Antelope Oil Tools UK Limited for the year ended 31 December 2015 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 Antelope Oil Tools UK 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 Antelope Oil Tools UK Limited and state those matters that we have agreed to state to the Board of Directors of Antelope Oil Tools UK 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 Antelope Oil Tools UK 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 Antelope Oil Tools UK Limited. You consider that Antelope Oil Tools UK 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 Antelope Oil Tools UK 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.

Brand Jamieson & Co. Ltd.

Chartered Accountants

2 Victoria Place

Rutherglen

Glasgow

G73 2JP

1 May 2016