Torbryan plc's profit and loss account for the year ended 31 December 19X7 and the balance sheets as at 31 December 19X6 and 19X7 are as follows:

During 19X6, the company spent £67m on additional fixtures etc. There were no other fixed asset acquisitions or disposals. There was no share issue for cash during the year.

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Profit and loss account E m m Turnover Cost of sales Gross profit Distribution costs Administrative expenses Other operating income Interest receivable and similar income Interest payable and similar charges 623 353 270 71 30 101 169 13 182 14 196 26 170 Tax on profit on ordinary activities 35 Profit on ordinary activities after taxation 135 Retained profit brought forward from last year 53 188 Transfer to General Reserve 40 Proposed dividend on ordinary shares 60 100 Retained profit carried forward 88 -