- Question 1 The Following Financial Statements Relates To Mayday Ple A Publicly Listed Company Statement Of Financial P 1 (153.81 KiB) Viewed 36 times
- Question 1 The Following Financial Statements Relates To Mayday Ple A Publicly Listed Company Statement Of Financial P 2 (127.8 KiB) Viewed 36 times
Question 1 The following financial statements relates to Mayday ple, a publicly listed company. Statement of financial position at: 30 September 2013 30 September 2012 £'000 £'000 £'000 £'000 Non-current assets: Property, plant & equipment 317 255 Current assets: Inventory Trade receivables Interest receivable Investments Cash in bank Cash in hand 210 195 2 25 38 3 230 160 5 0 0 2 473 397 652 Total assets 790 Capital & reserves: Ordinary shares £0.50 each Share premium Revaluation reserve Retained profits 181.5 44.5 25 31.5 150 46 0 (36) 282.5 160 Non-current liabilities: 10% loan notes 5% loan notes 0 164.5 20 175 164.5 195 Current liabilities: Bank overdraft Trade payables Income tax Accruals 0 275 SO 18 35 200 45 17 343 790 297 652 Statement of profits or loss for the year to 30 September 2013 £'000 Revenue Cost of sales Gross profit Administrative expenses Distribution costs 260 £'000 1,450 (867) 583 (431) 152 Profits from operations Income from investments Finance cost 3 (10) Profit before tax Income tax expenses Profit for the year 145 (52) 93
Mayday - other comprehensive income for the year ended - 30 September 2013 £'000 93 Profit for the year Other comprehensive income: Gain on property revaluation Total comprehensive income for the year 25 118 Additional information: (1) The current asset investment was a 30-day government bond. (2) Non-current tangible assets include certain properties which were revalued in the year. (3) Non-current tangible assets disposed of in the year had a carrying amount of £37,500; cash received on disposal was £49,000. (4) Depreciation charged for the year was £43,500. (5) The accruals balance includes interest payable of £16,500 at 30 September 2012 and £3,000 at 30 September 2013. (6) On 1 October 2012, Mayday plc issued 30,000 £1 ordinary shares at par. The proceeds were used to finance the purchase and cancellation of all its 10% loan notes and some of its 5% loan notes, both at par. A bonus issue of one for ten shares held was made on 1 November 2012; all shares in issue qualified for the bonus. (7) Interim dividends paid during the year were £26,500. Required: Prepare for Mayday ple: (a) Statement of cashflows (using the indirect method) for the year ended 30 September 2013. (29 marks) (b) The cash and cash equivalents analysis for Mayday ple. (4 marks) (Total: 33 marks)