The following information concerns Zarman plc in relation to its year ended 30 April 2024:

The following additional information is relevant:
(i) The inventory was counted at 30 April 2024 and was valued at a cost of £55,820.
(ii) Depreciation needs to be charged at the following rates per year:

(iii) The amount shown for maintenance on the trial balance includes a payment of £7,860, which represents an annual maintenance contract to 28 February 2025.
(iv) Utilities charges incurred up to the end of the financial year for which no invoices have yet been received amount to a total of £5,682.
(v) The audit fee has been agreed at £14,000 and this needs to be provided for.
(vi) An extensive review of the company’s irrecoverable debt history indicates that the allowance for doubtful debts should be set at 5% of trade receivables.
(vii) The interest on the loan notes is paid in two instalments each year and the second instalment needs to be accrued.
(viii) The corporation tax charge on this year’s profit is estimated to be £15,000.
(ix) The directors also want to transfer £14,000 to general reserve.
Required:
An income statement for Zarman plc for the year ended 30 April 2024 and a balance sheet as at that date, both in an external use format (i.e. suitable for publication).

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Trial balance as at 30 April 2024: 3% irredeemable preference shares of 1 each 8% loan notes 2027-2029 Allowance for doubtful debts at 1 May 2023 Bad debt expense Bank Commissions received Directors' remuneration Dividends paid General reserve Inventory as at 1 May 2023 IT equipment at cost IT equipment: accumulated depreciation at 1 May 2023 Loan note interest paid Maintenance Ordinary shares of 50p each Overdraft interest paid Plant & machinery at cost Plant & machinery: accumulated depreciation at 1 May 2023 Premises at cost Premises: accumulated depreciation at 1 May 2023 Purchases Retained earnings at 1 May 2023 Returns outwards Sales Share premium Trade payables Trade receivables Utilities Wages & salaries Debit 36,550 90,770 22,810 54,507 287,700 6,120 26,646 165 453,900 625,400 544,622 102,000 26,123 158,848 2,436,161 Credit 44,000 153,000 6,133 2,540 8,455 36,600 67,320 119,000 102,240 162,604 466,193 2,858 1,134,629 70,000 60,589 2,436,161