The following balances remained in the books of AK Ltd on 31 March 2013, after the income statement had been drawn up. You are to draft the statement of financial position as at 31 March 2013 in accordance with the relevant accounting standards.

\begin{tabular}{|c|c|c|}

\hline & & \\

\hline Ordinary share capital: $£ 1$ shares & & \begin{tabular}{r}

$£ 000 \mathrm{~s}$ \\

500

\end{tabular} \\

\hline Preference share capital: 50 p shares & & 200 \\

\hline Calls account (ordinary shares) & 1 & \\

\hline Development costs & 64 & \\

\hline Goodwill & 208 & \\

\hline Land and buildings - at cost & 500 & \\

\hline Plant and machinery - at cost & 150 & \\

\hline Provision for depreciation: Buildings & & \\

\hline Provision for depreciation: Plant and machinery & & 60 \\

\hline Shares in undertakings in which the company has a participating interest & 140 & \\

\hline Inventory: Raw materials & 12 & \\

\hline Inventory: Finished goods & 72 & \\

\hline Accounts receivable: Trade & 48. & \\

\hline Amounts owed by associate entities & 10 & \\

\hline Prepayments & 2 & \\

\hline Loan notes (see Note 1) & & 100 \\

\hline Bank overdraft (repayable on demand) & & 31 \\

\hline Accounts payable: Trade (payable within one year) & & 34 \\

\hline Bills payable (see Note 2) & & \\

\hline Share premium & & 100 \\

\hline Capital redemption reserve & & 20 \\

\hline General reserve & & 40 \\

\hline Retained profits & & $\frac{86}{1210}$ \\

\hline & $\underline{\underline{1,219}}$ & $\underline{\underline{1,219}}$ \\

\hline

\end{tabular}

\section*{Notes:}

1 Of the loan notes, $£ 40,000$ is repayable in five months' time, while the other $£ 60,000$ is repayable in four years' time.

2 Of the bills payable, $£ 6,000$ is in respect of a bill to be paid in eight months' time and $£ 2,000$ for a bill payable in 14 months' time.

3 The depreciation charged for the year was: Buildings $£ 10,000$, Plant and machinery $£ 15,000$.