The following is a list of the assets and claims of Crafty Engineering Ltd at 30 June last year:

  £000

Trade payables....................................................86

Motor vehicles.....................................................38

Long-term loan from Industrial Finance Co.......260

Equipment and tools..........................................207

Short-term borrowings.......................................116

Inventories.........................................................153

Property.............................................................320

Trade receivables..............................................185

Required:

(a) Prepare the statement of financial position of the business as at 30 June last year from the above information using the standard layout. 

(b) Discuss the significant features revealed by this financial statement.