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REGISTERED NUMBER: 01698623 (England and Wales)














RYE OIL LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2015






RYE OIL LIMITED (REGISTERED NUMBER: 01698623)

CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2015










Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

RYE OIL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2015







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 (England and Wales)





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

RYE OIL LIMITED (REGISTERED NUMBER: 01698623)

ABBREVIATED BALANCE SHEET
31 MAY 2015

2015 2014
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 243,448 181,630

CURRENT ASSETS
Stocks 143,647 148,647
Debtors 197,290 308,746
Cash at bank and in hand 465,035 385,791
805,972 843,184
CREDITORS
Amounts falling due within one year 328,282 365,325
NET CURRENT ASSETS 477,690 477,859
TOTAL ASSETS LESS CURRENT
LIABILITIES

721,138

659,489

PROVISIONS FOR LIABILITIES 22,004 8,659
NET ASSETS 699,134 650,830

CAPITAL AND RESERVES
Called up share capital 3 10,000 10,000
Profit and loss account 689,134 640,830
SHAREHOLDERS' FUNDS 699,134 650,830

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 22 January 2016 and were signed
on its behalf by:





Mr C D Reardon - Director


RYE OIL LIMITED (REGISTERED NUMBER: 01698623)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2015


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 2015


2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 June 2014 380,113
Additions 101,050
At 31 May 2015 481,163
DEPRECIATION
At 1 June 2014 198,483
Charge for year 39,232
At 31 May 2015 237,715
NET BOOK VALUE
At 31 May 2015 243,448
At 31 May 2014 181,630

3. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2015 2014
value: £    £   
8,000 Ordinary £1 8,000 8,000
2,000 'A' Ordinary £1 2,000 2,000
10,000 10,000