A The following information has been extracted from the books of Quire plc as at 30 September \(19 \times 1\).

The following additional information is to be taken into account:
1 Stocks at 30 September \(19 \mathrm{X} 1\) were valued at \(£ 400,000\).
2 All items in the above trial balance are shown net of value added tax.
3 At 30 September \(19 \times 1, £ 130,000\) was outstanding for office expenses, and \(£ 50,000\) had been paid in advance for delivery van licences.
4 Depreciation at a rate of 50 per cent is to be charged on the historic cost of the tangible fixed assets using the reducing balance method: it is to be apportioned as follows:

There were no purchases or sales of fixed assets during the year to 30 September \(19 \mathrm{X} 1\).
5 The following rates of taxation are to be assumed:

The corporation tax payable based on the profits for the year to 30 September \(19 \mathrm{X} 1\) 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 3 p per share.
Required Insofar as the information permits, prepare Quire plc's profit and loss account for the year to 30 September 19 X1, and a balance sheet as at that date in accordance with the MINIMUM requirements of the Companies Act 1985 and related 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 Fixed assets: at cost 3,500 accumulated depreciation (at 1 October 19X0) 1,100 Debentures held 100 Debenture interest (net) 40 Interest payable 400 Interim dividend paid 60 Office expenses 3,000 Other creditors 180 Other debtors 160 Profit and loss account (at 1 October 19X0) 820 Purchases 12,000 Sales 19,000 Stocks (at 1 October 19X0) 500 Trade creditors Trade debtors 100 5,320 27,840 27,840