ConstructPlus purchased a production plant for £750,000, with an estimated residual value of £40,000 and an estimated life of four years. The company applies the double-declining balance depreciation method. Due to changing market demands, the expected net cash inflows are £210,000 on 30 June 20X3, £170,000 on 30 June 20X4, and £160,000 on 30 June 20X5. The values of £1 at the end of each year are 0.93 for year 1, 0.86 for year 2, and 0.80 for year 3. Required: Assess the plant's recoverable amount and calculate any impairment loss as of 30 June 20X3. Prepare the necessary journal entries.