Asia is a small manufacturer. There are the following details.

Asia plc Abridged Balance Sheet as at 31 December 2001

£ E e Fixed Assets 99,500 Current Assets Debtors (Nov. £10,000, Dec. £11,000) 21,000 Stock (raw materials) 10,000 Stock (finished goods) 9,500 40,500 Current Liabilities Creditors (Nov. £3,500, Dec. £3,500) (7,000)

Bank (8,000) (15,000)

Net current assets 25,500 Total net assets 125,000 Share Capital and Reserves as Share Capital Ordinary share capital 103,000 Reserves Profit and loss account 22,000 Total shareholders’ funds 125,000 LO1