Using the following balance sheet and profit and loss accounts, calculate and comment on ten accounting ratios (ignore taxation):

The note on Movements in Shareholders’ Funds shows that retained profits at 1 April 2005 were £24,000; that £20,000 has been transferred from profit and loss to the general reserve; and that a dividend of £12,000 was paid during the year. (The balance sheet reflects these items.)

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Fixed assets Equipment at cost Less Depreciation to date Current assets Stock Debtors Bank Less Current liabilities Creditors Dividends payable Bank overdraft Balance Sheet as at 31 March 2006 (000) Long-term liabilities 5% debentures Net assets Financed by: Share capital-ordinary shares of 50p each Reserves General reserve Profit and loss 600 (200) 400 300 60 360 160 12 168 (340) 20 420 (100) 320 250 40 30 320