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

Required:
Prepare Bispham plc’s consolidated profit and loss account for the year to 30 September 19X7 and a consolidated balance sheet as at that date.

Transcribed Image Text:

Profit and Loss Accounts for the year to 30 September 19X7 Norbreck plc Bispham Ltd 000 000 Turnover 1,700 450 Cost of sales (920) (75) Gross profit 780 375 Administration expenses (300) (175) Income from shares in group company 120 Profit on ordinary activities before taxation 600 200 Tax on profit on ordinary activities (30) (20) Profit on ordinary activities after taxation Dividends paid 570 180 (90) (50) proposed Retained profit for the year Retained profit brought forward Retained profit carried forward Balance Sheets at 30 September 19X7 (270) (100) 210 30 220 70 430 100