The following trial balance of X Limited, a non-listed company, has been extracted from the books after the preparation of the profit and loss and appropriation accounts for the year ended 31 March 19X7.

(b) Deferred taxation A transfer of £50,000 was, made from the profit and loss account during the year ended 31 March 19X7.

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000 000 12% debentures (repayable in 9 years) Ordinary share capital - authorised, allotted and called-up fully paid shares of 1 each Deferred taxation Provisions for depreciation: Plant and machinery at 31 March 19X7 Freehold properties at 31 March 19X7 Vehicles at 31 March 19X7 Investments (listed), at cost Trade debtors and prepayments Corporation tax Advance corporation tax recoverable Proposed final dividend 1,000 500 128 650 52 135 200 825 310 70 280 Tangible fixed assets: Freehold properties at 31 March 19X7 1,092 Plant and machinery at 31 March 19X7 1,500 Vehicles at 31 March 19X7 420 - Profit and loss account balance at 31 March 19X7 386 Share premium account 150 Trade creditors and accruals 878 Research and development costs 35 Stocks: Raw materials 200 Work-in-progress 50 Finished goods 250 Bank balance 439 Revaluation reserve on freehold properties 612 5,081 5,081 You are also provided with the following information: