28.3 Base Ltd is a wholly-owned subsidiary of Apex Ltd. Both companies are UK resident and prepare accounts annually to 31 March. The results for the year to 31 March 2010 are as follows:

Apex Ltd Base Ltd

£ £

Trading profit/(loss) 120,000 (90,000)

Trading losses b/f under s393(1) (42,000) (19,000)

Income from property 7,000 3,000 Charges paid 12,000 4,000 Calculate the maximum group relief that may be claimed for the year by Apex Ltd.