Xanthe runs a florist’s shop. Her assistant goes out every day in the van delivering flowers. The van accumulates high mileage quickly and Xanthe usually replaces it every three years. The van cost £10 100 on 1 June 20X1 and Xanthe has depreciated it on the reducing balance basis at 30% per year for three years.

She sells it on 1 June 20X4 for £3000. What is the profit or loss on sale of the van?