Yellow plc recognised a deferred tax liability for the year ended 31 December 2021, which related solely to accelerated tax depreciation on property, plant and equipment at a rate of 30%. The net book value of the property, plant and equipment at that date was 530,000 and the tax written down value was 470,000.

The following data relates to the year ended 31 December 2021:

Apart from the German property in (2) below, depreciation for the year was 30,000 and capital allowances were 40,000. This plant and equipment is accounted for under IAS 16, Property, Plant and Equipment.

During the year Yellow plc purchased a property for 195,000 which is revalued in the accounts at 260,000. The opening balance on the revaluation surplus account was 31,000 at 1 January 2021. This plant and equipment is accounted for under IAS 16, Property, Plant and Equipment.

During the year Yellow plc recognised pension costs of 20,000 in the Statement of Profit or Loss. This will be paid in February 2022.

Yellow plc opened a deposit account in its local credit union on 17 March 2021 to deposit a large amount of cash it received in settlement of a court case. At 31 December 2021, interest had been earned on this account to the 31 December 2021 of 47,800. The interest will not be received until January 2022.

Current tax is paid six months after the year-end. Profit before taxation for the year ended 31 December was 97,000. Current tax of 12,500 was charged to the Profit or Loss account for the year ended 31 December 2021.

Yellow plc had retained earnings at 1 January 2021 of 212,470. The corporation tax rate is expected to be 30% for the foreseeable future.

Required

Prepare a table showing the accounting bases values, tax bases and temporary differences for each of the items above for the year ended 31 December 2021.

Show the relevant extracts of Yellow plcs statement of profit or loss and other comprehensive income and from the statement of financial position for the year ended 31 December 2021.