The following trial balance relates to the trading activities of Billingham Ltd. From this data and the additional information provided you are to construct a set of financial statements.

Additional information:
1 Inventory at 31 March 2017 was £11,980 2 Tax due for the year was £7,650 3 Depreciation is provided on equipment at 10% using the straight line method.
15.5

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Billingham Ltd Trial balance as at 31 March 2017 Issued ordinary share capital (1 shares) Issued preference shares (1 shares) Retained earnings Land Equipment Sales revenue Purchases Opening inventory Wages and salaries Overheads Directors' remuneration Debentures 150,000 40,000 11,450 190,000 45,000 107,000 45,000 8,950 17,340 9,925 7,400 20,000 Debenture interest 2,000 Trade receivables and payables 8,110 6,780 Cash and cash equivalents 3,305 Provision for depreciation of equipment 4,800 Dividends (ordinary and preference) paid 3,000 340,030 340,030