The following trial balance was extracted from the books of Cuddly Toy Ltd as at31.12.X5

The following information has not yet been accounted for:
Closing stock 31.12.X5 is valued at £560,000.
Depreciation is to be charged as follows:
- 2% straight line on buildings - 20% straight line on equipment - 25% reducing balance on vehicles.
Assets are used as follows:
- buildings: 50% cost of sales, 25% distribution and 25% administration - equipment: all cost of sales - vehicles: all distribution.
Taxation to be charged for the year is estimated at £200,000.
No interim dividend has been paid but a final dividend of 6p per share is proposed.
Prepare the published profit and loss account and balance sheet for the company as at 31.12.X5.

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Dr Cr 000 000 Sales 1,562 Stock 1.1.X5 660 Purchases 885 Land 1,010 Buildings 980 Equipment 55 Vehicles 72 Depreciation: Buildings 390 Equipment 18 Vehicles 25 Debtors and creditors 180. 235 Bank 121 1 ordinary shares 900 Share premium 350 Distribution expenses 98 Administration expenses 24 Retained profits 1.1.X5 185 5% debentures 420 4,085 4,085