| £ | £ | |
| Fixed Assets | £500.00 | |
| (equipment, fixtures and fittings) | ||
| Current assets | £350.00 | |
| (Stock, debtors, cash at bank and in hand, prepayements) | ||
| Less Current Liabilities | £150.00 | |
| (Creditors, accruals, receipts in advance) | ||
| Net current assets | £200.00 | £200.00 |
| Total net assets | £700.00 | |
| Represented by: Capital Account | ||
| Balance brought forward from previous year | £660.00 | |
| Plus surplus (or deficit) for year (after deducting depreciation) | £40.00 | |
| £700.00 |