The following trial balance has been extracted from the books of Baganza plc as at 30 September 2013:

\begin{tabular}{|c|c|c|}

\hline & $£ 000$ & $£ 000$ \\

\hline Administrative expenses & 400 & \\

\hline Called-up share capital ( $1,200,000$ ordinary shares of $£ 1$ each) & & 1,200 \\

\hline Cash at bank and in hand & 60 & \\

\hline Corporation tax (overpayment for the year to 30 September 2012) & & 20 \\

\hline Deferred taxation (at 1 October 2012) & & 460 \\

\hline Distribution costs & 600 & \\

\hline Dividends received (on 31 March 2013) & & 249 \\

\hline Freehold property: & & \\

\hline at cost & 2,700 & \\

\hline accumulated depreciation (at 1 October 2012) & & 260 \\

\hline Interim dividend (paid in June 2013) & 36 & \\

\hline Investments in United Kinqdom companies & 2,000 & \\

\hline Plant and machinery: & & \\

\hline at cost & 5,200 & \\

\hline accumulated depreciation (at 1 October 2012) & & 3,600 \\

\hline Purchases & 16,000 & \\

\hline Research expenditure & 75 & \\

\hline Retained profits (at 1 October 2012) & & 2,022 \\

\hline Inventory (at 1 October 2012) & 2,300 & \\

\hline Trade accounts payable & & 2,900 \\

\hline Trade accounts receivable & 2,700 & \\

\hline Revenue & & 21,360 \\

\hline & $\underline{£ 32,071}$ & $£ 32,071$ \\

\hline

\end{tabular}

Additional information:

1 The inventory at 30 September 2013 was valued at $£ 3,600,000$.

2 Depreciation for the year to 30 September 2013 is to be charged on the historic cost of the noncurrent assets as follows:

Freehold property: $5 \%$

Plant and machinery: $15 \%$

3 The basic rate of income tax is assumed to be $27 \%$.

4 The directors propose a final dividend of 60 p per share.

5 The company was incorporated in 2006.

6 Corporation tax based on the profits for the year at a rate of $35 \%$ is estimated to be $£ 850,000$.

7 A transfer of $£ 40,000$ is to be made to the deferred taxation account.

Required:

In so far as the information permits, prepare Baganza plc's income statement for the year ending 30 September 2013 , and a statement of financial position as at that date in accordance with the appropriate accounting standards.

However, formal notes to the accounts are not required, although detailed workings should be submitted with your answer, which should include your calculation of earnings per share.