| REGISTERED NUMBER: |
| RYE OIL LIMITED |
| ABBREVIATED UNAUDITED ACCOUNTS |
| FOR THE YEAR ENDED 31 MAY 2015 |
| REGISTERED NUMBER: |
| 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: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| RYE OIL LIMITED (REGISTERED NUMBER: 01698623) |
| ABBREVIATED BALANCE SHEET |
| 31 MAY 2015 |
| 2015 | 2014 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 3 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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 financial statements were approved by the Board of Directors on on its behalf by: |
| 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 |
| Additions |
| At 31 May 2015 |
| DEPRECIATION |
| At 1 June 2014 |
| Charge for year |
| At 31 May 2015 |
| NET BOOK VALUE |
| At 31 May 2015 |
| At 31 May 2014 |
| 3. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2015 | 2014 |
| value: | £ | £ |
| Ordinary | £1 |
| 'A' Ordinary | £1 |
| 10,000 | 10,000 |