The following information has been extracted from the books of Quire plc as at 30 September 19X1.

The following additional information is to be taken into account:
1 Stocks at 30 September 19X1 were valued at £400,000.
2 All items in the above trial balance are shown net of value added tax.
3 At 30 September 19X1, £130,000 was outstanding for office expenses, and £50,000 had been paid in advance for delivery van licences.
4 Depreciation at a rate of 50 per cent is to be charged on the historic cost of the tangible fixed assets using the reducing balance method: it is to be apportioned as follows:

Required:
Insofar as the information permits, prepare Quire plce’s profit and loss account for the year to 30 September 19X1, and a balance sheet as at that date in accordance with the MINIMUM requirements of the Companies Act 1985 and related accounting standards.
Note: Formal notes to the accounts are NOT required, but detailed workings should be submitted with your answer.

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000 000 Advance corporation tax Bank overdraft Called-up share capital (ordinary shares of 1 each) Deferred taxation 20 2,400 4,000 200 Delivery expenses 2,800 Fixed assets: at cost 3,500 accumulated depreciation (at 1 October 19X0) 1,100 Fixed asset investments 100 Franked investment income (amount received) 40 40 Interest payable 400 Interim dividend paid Office expenses 60 3,000 Other creditors 180 Other debtors 160 Profit and loss account (at 1 October 19X0) 820 Purchases 12,000 Sales 19,000 Stocks (at 1 October 19X0) 500 Trade creditors Trade debtors 100 5,300 27,840 27,840 T