Leisureplay (continued).

Notes (all figures are in 000s):

(a) Stock as at 31 December 2001 is £12,000

(b) Depreciation is to be charged as follows:

(i) Freehold premises 2% on cost

(ii) Motor vehicles 10% on cost

(iii) Furniture and fittings 5% on cost

(c) There is the following payment in advance:

General expenses £500

(d) There are the following accrued expenses:

Business rates £300 Advertising £550 Auditors’ fees £250

(e) There are proposed dividends of £70,000 for ordinary shares and £4,800 for preference shares.

(f) Authorised ordinary share capital is £1,000,000 £1shares, and authorised preference share capital is 100,000 £1shares.

(g) Taxation has been calculated as £58,500.

(h) Debenture interest should be charged at 10%.

(i) Provision for bad and doubtful debts is increased to £1,600 and a bad debt of £400 is to be written off.

Required:

Prepare for internal management purposes the trading, profit and loss and appropriation account for Leisureplay Plc for the year ended 31 December 2001 and balance sheet as at 31 December 2001.