Hi
I've not been able to get my books to balance.



Debit Credit
£000s £000s
Sales all on account 4,448
Inventory at cost at 01.04.06 1,562
Purchases 2,942
Land at cost at 01.04.06 750
Buildings at cost at 01.04.06 3,500
Equipment at cost at 01.04.06 500
Vehicles at cost at 01.04.06 42
Depreciation as at 01.04.06:
Buildings 418
Equipment 80
Vehicles 10
Ordinary Share issue during the year (see note 9 below) 340
Receivables and Payables 1,250 1,255
Bank 32
Ordinary shares @<hidden> £0.50 par value at 01.04.06 550
6% preference shares at £1 par value 300
Bank loan (5 years remaining) @<hidden> 5% interest p.a. 250
Share premium 420
Retained profits at 01.04.06 2,792
Cash 170
Distribution expenses 85
Administration expenses 30


1. Closing inventory as at 31.03.07 £600,000
2. Depreciation is to be charged 2% straight line on buildings, 20% straight line on equipment and 20% reducing balance vehicles. Assets are used 50% cost of sales, 25% distribution and 25% administration except for vehicles which are solely used for distribution.
3. Land is to be re-valued to £600,000
4. Taxation for the year is estimated at £45,000
5. Preference dividends are to be paid in full in the next year
6. Bank interest has not yet been paid
7. Dividends of 4p per ordinary share are to be declared
8. A provision for bad debts of 10% is to be allowed for
9. During the year a further issue of 50p nominal value ordinary shares had been made at a premium of £1.20. The proceeds of the issue were debited to the bank account and credited to a share issue account. These new shares do not qualify for dividend.


can anyone help!!