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REGISTERED NUMBER: 01698623














RYE OIL LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2012






RYE OIL LIMITED (REGISTERED NUMBER: 01698623)

CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2012










Page

Company Information 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

RYE OIL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2012







DIRECTORS: Mr P J Reardon
Mr C D Reardon
Mrs M C Reardon





SECRETARY: Mr C D Reardon





REGISTERED OFFICE: Harbour Road
Rye
East Sussex
TN31 7TE





REGISTERED NUMBER: 01698623





ACCOUNTANTS: Gibbons Mannington & Phipps
Chartered Accountants
82 High Street
Tenterden
Kent
TN30 6JG

RYE OIL LIMITED (REGISTERED NUMBER: 01698623)

ABBREVIATED BALANCE SHEET
31 MAY 2012

2012 2011
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 172,277 187,166

CURRENT ASSETS
Stocks 176,471 159,446
Debtors 315,858 344,276
Cash at bank and in hand 247,356 78,775
739,685 582,497
CREDITORS
Amounts falling due within one year 465,157 344,547
NET CURRENT ASSETS 274,528 237,950
TOTAL ASSETS LESS CURRENT
LIABILITIES 446,805 425,116

CREDITORS
Amounts falling due after more than
one year

-

(1,159
)

PROVISIONS FOR LIABILITIES (3,983 ) (9,112 )
NET ASSETS 442,822 414,845

CAPITAL AND RESERVES
Called up share capital 3 10,000 10,000
Profit and loss account 432,822 404,845
SHAREHOLDERS' FUNDS 442,822 414,845

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2012.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2012 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.

RYE OIL LIMITED (REGISTERED NUMBER: 01698623)

ABBREVIATED BALANCE SHEET - continued
31 MAY 2012


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 13 December 2012 and were signed
on its behalf by:





Mr P J Reardon - Director


RYE OIL LIMITED (REGISTERED NUMBER: 01698623)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2012


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, 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.

Freehold property- 2% on cost
Plant and machinery- 15% on reducing balance
Motor vehicles- 25% on reducing balance

No depreciation is charged on freehold land.

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.

Hire purchase and leasing commitments
Assets held under finance leases and hire purchase contracts are capitalised in the balance sheet
and depreciated over their expected useful lives. The interest element of leasing payments
represents a constant proportion of the capital balance outstanding and is charged to the profit
and loss account over the period of the lease.

All other leases are regarded as operating leases and the payments made under them are charged
to the profit and loss account on a straight line basis over the term of the lease term.

Income received from operating leases is credited to the profit and loss account when due.


Pension costs and other post-retirement benefits
The company contributes to the personal pension for certain employees. Contributions are charged
to the profit and loss account as incurred.


RYE OIL LIMITED (REGISTERED NUMBER: 01698623)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 MAY 2012


2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 June 2011
and 31 May 2012 371,925
DEPRECIATION
At 1 June 2011 184,759
Charge for year 14,889
At 31 May 2012 199,648
NET BOOK VALUE
At 31 May 2012 172,277
At 31 May 2011 187,166

3. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2012 2011
value: £    £   
8,000 Ordinary £1 8,000 8,000
2,000 'A' Ordinary £1 2,000 2,000
10,000 10,000