This scenario relates to four requirements. Fogo Ltd has one 100% subsidiary, Netta Ltd. Fogo Ltd During the year ended 30 September 2020, Fogo Ltd made the following capital disposals: On 31 October 2019, Fogo Ltd sold an investment property which had been let out to tenants since it was acquired. The investment property was sold to an unconnected company for 625,000. It had cost 500,000 when it was acquired in February 2010 On 4 May 2020, Fogo Ltd sold a freehold warehouse which it had used exclusively in its trade. The warehouse was sold to an unconnected company for 560,000. It had cost Fogo Ltd 100,000 when it was acquired in September 2001. On 19 September 2020, Fogo Ltd sold a 4% shareholding in an unconnected trading company, resulting in a capital loss of 25,000. Indexation factors: September 2001 to December 2017 February 2010 to December 2017 0.593 0.269 Netta Ltd For the year ended 30 September 2020, Netta Ltd has a draft tax adjusted trading profit of 180,000. This figure has been calculated correctly but does not include interest payable or receivable. Interest payable On 1 October 2019, Netta Ltd borrowed 1,000,000 from a bank at an annual interest rate of 5%. During the year ended 30 September 2020, the interest payable of 50,000 was in respect of the following: (1) Interest on 550,000 of the loan to acquire fixed plant and machinery for use in its factory. The fixed plant and machinery has an expected useful life of 15 years. (2) Interest on 450,000 of the loan to acquire a 3% shareholding in a trading company called Jona Ltd. Interest receivable Netta Ltd's financial statements for the year ended 30 September 2020 showed interest receivable from investments of 35,000, of which 25,000 was received during the year and 10,000 was accrued on 30 September 2020. There was no accrual brought forward at 1 October 2019. (a) Calculate the net chargeable gains of Fogo Ltd, before any claim for group rollover relief, for the year ended 30 September 2020. This scenario relates to four requirements. Fogo Ltd has one 100% subsidiary, Netta Ltd. Fogo Ltd During the year ended 30 September 2020, Fogo Ltd made the following capital disposals: On 31 October 2019, Fogo Ltd sold an investment property which had been let out to tenants since it was acquired. The investment property was sold to an unconnected company for 625,000. It had cost 500,000 when it was acquired in February 2010 On 4 May 2020, Fogo Ltd sold a freehold warehouse which it had used exclusively in its trade. The warehouse was sold to an unconnected company for 560,000. It had cost Fogo Ltd 100,000 when it was acquired in September 2001. On 19 September 2020, Fogo Ltd sold a 4% shareholding in an unconnected trading company, resulting in a capital loss of 25,000. Indexation factors: September 2001 to December 2017 February 2010 to December 2017 0.593 0.269 Netta Ltd For the year ended 30 September 2020, Netta Ltd has a draft tax adjusted trading profit of 180,000. This figure has been calculated correctly but does not include interest payable or receivable. Interest payable On 1 October 2019, Netta Ltd borrowed 1,000,000 from a bank at an annual interest rate of 5%. During the year ended 30 September 2020, the interest payable of 50,000 was in respect of the following: (1) Interest on 550,000 of the loan to acquire fixed plant and machinery for use in its factory. The fixed plant and machinery has an expected useful life of 15 years. (2) Interest on 450,000 of the loan to acquire a 3% shareholding in a trading company called Jona Ltd. Interest receivable Netta Ltd's financial statements for the year ended 30 September 2020 showed interest receivable from investments of 35,000, of which 25,000 was received during the year and 10,000 was accrued on 30 September 2020. There was no accrual brought forward at 1 October 2019. (a) Calculate the net chargeable gains of Fogo Ltd, before any claim for group rollover relief, for the year ended 30 September 2020