You are presented with the following summarised information for Norbreck plc and its subsidiary, Bispham Ltd:

Additional information:
(a) Norbreck plc acquired 80% of the shares in Bispham Ltd on 1 October 2014. Bispham’s retained profits balance as at that date was £10,000.
(b) During the year, Norbreck paid dividends of £360,000 and Bispham paid dividends of £150,000.

Required:
Prepare Bispham plc’s consolidated statement of profit or loss for the year ending 30 September 2017 and a consolidated statement of financial position as at that date.

Transcribed Image Text:

Revenue Cost of sales Gross profit Statements of Profit or Loss for the year ending 30 September 2017 Administration expenses Income from shares in group company Profit before taxation Taxation Profit for the year Norbreck plc Bispham Ltd £000 1,700 (920) 780 (300) 120 600 (30) 570 £000 450 (75) 375 (175) 200 (20) 180