5.5 The following financial statements for Blackstone plc are a slightly simplified set of published accounts. Blackstone plc is an engineering business that developed a new range of products in 2013. These products now account for 60 per cent of its sales revenue.

Notes:
1 The expense and the cash outflow for interest payable are equal for each year.
2 The movements in property, plant and equipment during the year are:

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Income statement for the years ended 31 March 2015 2016 Notes m m Revenue Cost of sales Gross profit 7,003 11,205 (3,748) (5,809) 3,255 5,396 Operating expenses Operating profit (2,205) (3,087) 1,050 2,309 Interest payable 1 (216) (456) Profit before taxation 834 1,853 Taxation (210) (390) Profit for the year 624 1,463 ASSETS Statements of financial position as at 31 March Non-current assets Property, plant and equipment Intangible assets Current assets Inventories Trade receivables Cash at bank Total assets 2015 2016 Notes m m 23 4,300 7,535 3. 700 4,300 8,235 1,209 2,410 641 1,173 123 1,973 3,583 6,273 11,818