Take the information for Bale and Cowley and draft the balance sheet using the format 1 given in the Companies Act 1985. Compare your answer with the one given in Table 16.5.

Notes to the balance sheets include: I Share capital. Details should be given of authorized share capital: the mumber and aggregate value of each class of issued share details of the date for redemp II tion of any redeemable shares; details of any share issue. Debentures: Details of any issues and redemptions in the year. III Reserves and provisions for liabilities and charges should give the opening and closing balances and any movements in the year explained. V IV Creditors: details of any charges over the assets given as security and a breakdown of other creditors to show details of dividends, taxation and social security costs. Fixed assets: details of the opening and closing balances of cost and depreciation. movements in the year, including revaluation, and the net book value. Where a valuation was undertaken the name or qualifications ofan valuers and the basis of valuation. Land and buildings should be split between freeholds, long leaseholds