Statement of financial position (balance sheet) as at 31 December Year 2020 Non-current (fixed) assets: Land and buildings Plant and equipment Total non-current assets Current assets: 000s 000s 600 450 1,050 Bank Total current assets Total assets Inventory (stock) 330 Trade receivables (debtors) 470 Prepayments 110 90 1.000 2.050 Current liabilities: Trade payables (creditors) 290 Taxation 145 Accruals 30 Total current liabilities 465 Non-current liabilities 10% debentures 400 Total liabilities 865 Net assets 1.185 Ordinary shares of 25p nominal value each 375 Retained profits 810 1.185