The following information has been extracted from the books of Quire plc as at 30 September 2011.

The following additional information is to be taken into account:
1 Inventory at 30 September 2011 was valued at £400,000.
2 All items in the above trial balance are shown net of value added tax.
3 At 30 September 2011, £130,000 was outstanding for office expenses, and £50,000 had been paid in advance for delivery van licences.
4 Depreciation at a rate of 50% is to be charged on the historic cost of the tangible non-current assets using the reducing balance method: it is to be apportioned as follows:

There were no purchases or sales of non-current assets during the year to 30 September 2011.
5 The following rates of taxation are to be assumed:

The corporation tax payable based on the profits for the year to 30 September 2011 has been estimated at £80,000.
6 A transfer of £60,000 is to be made from the deferred taxation account.
7 The directors propose to pay a final ordinary dividend of 3p per share.

Required:
In so far as the information permits, prepare Quire plc's income statement for the year ending 30 September 2011, and a balance sheet as at that date in accordance with the requirements of the relevant accounting standards.

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000 000 Bank overdraft Called-up share capital (ordinary shares of 1 each) Deferred taxation 2,400 4,000 200 Delivery expenses 2,800 Non-current assets: at cost 3,500 accumulated depreciation (at 1 October 2010) 1,100 Loan notes held 100 Loan note interest (net) 40 Interest payable 400 Interim dividend paid Office expenses Other creditors 60 3,000 Other debtors Retained profits (at 1 October 2010) Purchases Sales Inventory (at 1 October 2010) Trade accounts payable Trade accounts receivable 180 160 820 12,000 19,000 500 100 5,320 27,840 27,840