Under the heading of Reserves and surplus, the following items are typically shown:

a) Securities Premium Reserve: This reserve is created when a company issues shares at a premium, i.e., when the issue price of shares is higher than their face value. The excess amount received from the issue of shares is credited to the Securities Premium Reserve. This reserve cannot be distributed as dividends and can only be used for certain specified purposes, such as issuing bonus shares or writing off preliminary expenses.

b) Capital Reserve: This reserve is created out of capital profits earned by a company. It is not created through regular business operations but arises from events such as the sale of fixed assets or revaluation of assets and liabilities. Capital reserves are not available for distribution as dividends and are typically utilized for purposes like writing off discount on the issue of shares or debentures, or providing for the premium on the redemption of preference shares or debentures.

c) Bills of exchange: Bills of exchange are financial instruments that represent a promise to pay a certain amount at a specified future date. These are not typically shown under the heading of Reserves and surplus, as they are considered as current assets or liabilities depending on whether they are held by the company or owed to the company.

d) Statement of profit and loss: The statement of profit and loss, also known as the income statement or the statement of comprehensive income, is a financial statement that shows the revenues, expenses, gains, and losses of a company over a specific period. While the profit or loss for the period may impact the reserves and surplus of a company, it is not shown directly under this heading. Instead, the profit or loss is usually transferred to retained earnings or accumulated losses, which are part of the Reserves and surplus.

In conclusion, the item that is not shown under the heading of Reserves and surplus is c) Bills of exchange.