A The following trial balance has been extracted from the books of account of Greet plc as at 31 March 2014:

\begin{tabular}{lrr}

& $\mathrm{Dr}$

\end{tabular} \begin{tabular}{rr}

$\mathrm{Cr}$ \\

Administrative expenses \\

Called-up share capital (ordinary shares of $£ 1$ fully paid) & 210

\end{tabular}

Additional information:

1 Inventory at 31 March 2014 was valued at $£ 150,000$.

2 The following items are already included in the balances listed in the above trial balance:

\begin{tabular}{lcc}

& Distribution & Administrative \\

costs & $£ 000$ \\

Depreciation (for the year to 31 March 2014) & $£ 000$ & 5 \\

Hire of plant and machinery & 27 & 15 \\

Auditors' remuneration & 20 & 30 \\

Directors' emoluments & - & 45

\end{tabular}

3 The following rates of taxation are to be assumed:
$$
\begin{array}{ll}
\text { Corporation tax } & 35 \\
\text { Income tax } & 27 \end{array}
$$
4 The corporation tax charge based on the profits for the year is estimated to be $£ 52,000$.
5 A transfer of $£ 16,000$ is to be made to the credit of the deferred taxation account.
6 The gain made on the disposal of a non-current asset related to a factory in Belgium following the closure of the company's entire operations in that country.
7 The company's authorised share capital consists of $1,000,000$ ordinary shares of $£ 1$ each.
8 A final ordinary payment of 50 p per share is proposed.
9 There were no purchases or disposals of non-current assets during the year.
10 The market value of the non-current assets investments as at 31 March 2014 was $£ 580,000$. There were no purchases or sales of such investments during the year.
\section*{Required:}
In so far as the information permits, prepare the company's published income statement for the year ending 31 March 2014 and a statement of financial position as at that date in accordance with the Companies Acts and with related accounting standards.
Relevant notes to the income statement and statement of financial position and detailed workings should be submitted with your answer, but a statement of the company's accounting policies is not required.
\section*{(Association of Accounting Technicians)}