Your company's assets and liabilities are reported on its balance sheet. Assets go on one side of the sheet, liabilities on the other. The difference between them is the owners' equity in the company -- what the owners would take away if they sold all those assets and paid off all those debts.
Key Points. For all residential premises, whether houses or flats, a landlord may, depending on the circumstances, be liable to be prosecuted if anyone such as a tenant, resident, workman or visitor, is put at risk of being exposed to asbestos or is actually exposed to it.
A tenant is not responsible for normal fair wear and tear to the property or any chattels provided by the landlord when they use them normally. The tenant is responsible for any intentional or careless damage. An example of this would be where a stove element wears out from normal cooking. This is fair wear and tear.