Gareth Slattery has carried on business as a furniture manufacturer for many years. He prepares annual accounts to

$31$ October. His Profit and Loss Account for the year ended $31$ October $2023$ is as follows:$-$

$$

Sales $300,000$

Deposit Interest $2,000$

Irish Dividend Net $300$

Rents from premises adjoining factory $($Gross$)3,000$

$305,300$

Manufacturing Expenses Note $1105,000$

Administrative Salaries Note $228,000$

G$.$ Slattery Drawings $12,000$

Advertising Note $32,000$

Depreciation $-$ Factory $2,000$

$-$ Motor Vehicles $4,000$

Rent and Rates Note $42,600$

Diesel for lorries $10,000$

Power, Light and Heat Note $59,000$

Loss on sale of lorry $600$

Telephone Note $61,200$

Entertainment Expenses Note $78,140$

Subscriptions Note $81,820$

Professional fees Note $94,430$

Motor Expenses $-$ Cars Note $1110,420$

$-$ Lorries $12,070$

Miscellaneous Note $101,390$

TOTAL EXPENSES: $(214,670)$

NET PROFIT BEFORE TAXATION $90,630$

Note $1$: $$

Materials $30,000$

Labour $45,000$

Transportation Costs $15,000$

Production overheads except depreciation $15,000$

$105,000$

Note $2$: Includes $600$ paid to Slattery's wife for secretarial work and $100$ that he gave to his son.

Note $3$: This is comprised of : $$

Advertising business products $1,200$

Advertising for staff $100$

$"$ for tenant for premises which have been let $400$

$"$ for sale unused site adjoining factory $300$

$2,000$

Note $4$: $$

Factory ground rent $500$

Factory rates $1,200$

Rented premises rent $200$

Rented premises rates $600$

Rates on unused site $80$

Ground rent on unused site $20$

$2,600$

Note $5$: This includes the following:$-$

Heating oil for Slattery's home $500$

Heat for rented premises $300$

$800$

Note $6$: This includes:$-$

Personal telephone calls $100$

Installation of new internal phone system in factory $240$

$340$

Note $7$: $$

Entertainment of customers $6,000$

Staff entertainment $600$

G$.$ Slattery $-$ trip to Cheltenham $560$

Holiday $-$ Slattery $400$

Holiday for chief salesman $580$

$8,140$

Note $8$: $$

Political subscription $1,100$

Subscriptions to Furniture Manufacturers Trade Assoc. $600$

G$.$ Slattery $-$ Golf Club membership $120$

$1,820$

Note $9$: $$

Accountancy fees $2,500$

Estate Agents fees re management of rented premises $250$

Legal fees $-$ re possible purchase of new factory $500$

$-$ debt collection $600$

$-$ Planning permission for extension of existing factory $580$

$4,430$

Note $10$:

Miscellaneous $$

Miscellaneous Business Insurances $200$

Interest on underpaid V$.$A$.$T$.500$

Parking fines for salesmen $150$

Renewal of TradeMark registration $50$

Office tea and biscuits $200$

Trade Magazines $200$

Sundry $($all allowable$)90$

$1,390$

Note $11$: Slattery's Chief

Car Salesman's Car

$$

List price $58,00034,000$

Date acquired $1$ May $20221$ Feb $2022$

Emissions Category CAT C CAT B

Running Costs:

Petrol $2,5004,000$

Insurance $600450$

Tax $200100$

Repairs $-400$

Miscellaneous $15020$

Lease Hire Charges $-2,000$

$3,4506,97010,420$

$\%$ of Business use of

car agreed with Revenue $60\%-$

REQUIREMENT

Compute the Case I tax adjusted profits for the year ended $31$ October $2023$