The following information has been extracted from the books of account of Rufford plc for the year to 31 March 2006:

Additional information: :
1. Administrative expenses include the following items:

2. It is assumed that the following tax rates are applicable for the year to 31 March 2006:

3. There was an overprovision for corporation tax of £3,000 relating to the year to 31 March 2005.
4. Corporation tax payable for the year to 31 March 2006 (based on the profits for that year) is estimated to be £38,000. The company, in addition, intends to transfer a further £9;000 to its deferred taxation account. :
5. A final dividend of £42,000 for the year to 31 March 2006 is expected to be paid on 2 June 2006.
6. Stock at 31 March 2006 was valued at £71,000.
7. As aresult of a change in accounting policy, a prior period charge of £15,000 (net of tax) is to be made. :
8. The company’s share capital consists of 420,000 ordinary shares of £1 each. There are no preference shares, and no change had been made to the company’s issued share capital for some years.

Required:

(a) In so far as the information permits, prepare the company’s published profit and loss account for the year to 31 March 2006 in the vertical format in accordance with the Companies Act and with related accounting standards.
(NB: A statement of the company’s accounting policies is not required.)

(b) Prepare balance sheet extracts in order to illustrate the balances still remaining in the following accounts at 31 March 2006:
(i) corporation tax;
(ji) proposed dividend; and (iif) deferred taxation.
(NB: A detailed balance sheet is not required.)

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Administration expenses Deferred taxation Depreciation on office machinery (for the year to 31 March 2006) Depreciation on delivery vans (for the year to 31 March 2006) Distribution costs Dividends received (from a UK listed company on 31 July 2005) Factory closure expenses (closed on 1 April 2005) Dr Cr 000 000 97 24 24 Interest payable on bank overdraft (repayable within five years) Interim dividend (paid on 30 September 2005) Interest receivable Purchases Retained profit at 31 March 2005 Sales (net of VAT) Stock at 1 April 2005 19 33 89% 12 262 21 14 14 25 25 401 160 642 60