The following balances remained in the books of Owen Ltd on 31 December 19X1, after the profit and loss account and appropriation account had been drawn up. You are to draft the balance sheet as at 31 December \(19 \mathrm{X} 1\) in accordance with the Companies Acts.

1 Of the debentures \(£ 6,000\) is repayable in 3 months' time, while the other \(£ 4,000\) is repayable in 5 years' time.
2 Of the bills payable, \(£ 1,600\) is in respect of a bill to be paid in 4 months' time and \(£ 2,000\) for a bill payable in 18 months' time.
3 The depreciation charged for the year was: Building \(£ 4,000\), Plant and machinery \(£ 1,800\).

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Dr Cr Ordinary share capital: 1 shares 50,000 Preference share capital: 50p shares 25,000 Calls account (ordinary shares) 150 Development costs 3,070 Goodwill 21,000 Land and buildings - at cost 48,000 Plant and machinery - at cost 12,500 Provision for depreciation: Buildings 16,000 Provision for depreciation: Plant and machinery 5,400 Shares in undertakings in which the company has a participating interest 35,750 Stock: Raw materials 3,470 Stock: Finished goods 18,590 Debtors: Trade 17,400 Amounts owed by undertakings in which the company has a participating interest 3,000 Share premium Prepayments Debentures (see note 1) Bank overdraft (repayable within 6 months) Creditors: Trade (payable within 1 year) Bills payable (see note 2) Capital redemption reserve General reserve Profit and loss account 1,250 10,000 4,370 12,410 3,600 20,000 5,000 4,000 8,400 164,180 164,180