January 1992.

(e) Shop fittings which were worth £3000 and had been bought at an auction by Transom Trading for only £1500 prior to opening the shop in August 1991.

(f) A Ford Fiesta costing £3500 which the owner of Transom Trading had bought in November 1991 for his wife to use. He had found that the Ford Granada Estate which he had bought second-hand in September for £4000 was being used exclusively for collecting and delivering goods for Transom Trading and not as a family car as originally intended.

(g) One cash register which was rented from Equipment Supplies at an annual rental of £200.

(h) One cash register which Transom Trading had bought in November 1991 for £600.

(i) A bank overdraft which amounted to £6500 on 31 December 1991.

(j) A supply of seat belts which the owner of Transom Trading had bought for £600 in September from a market trader in good faith and which were subsequently found to be defective.