Martin Ltd You have been asked to help prepare the financial statements of Martin Ltd for the

year ended 31 October 2010. The companys trial balance as at 31 October 2010 is shown below. Martin Ltd Trial balance as at 31 October 2010 Debit 000 Share capital Trade and other payables Property, plant and equipment cost Property, plant and equipment accumulated depreciation Trade and other receivables Accruals 8% bank loan repayable 2017 Cash at bank Retained earnings Interest Sales Purchases Returns inwards Returns outwards Distribution costs Administrative expenses Inventories as at 1 November 2009 Final dividend for year ended 31 October 2009 Interim dividend for year ended 31 October 2010 Additional data The share capital of the company consists of ordinary shares with a nominal value of 1. The inventories at the close of business on 31 October 2010 were valued at 4,987,000. The company paid 512,000 for one years insurance on 1 February 2010, this is due to expire on 31 January 2011. The company hired vehicles to distribute finished goods locally. It was able to negotiate a deal with a local company for the period 1 September to 30 Credit 000 9,000 1,347 21,780 2,234 146 14,000 9,654 3,465 560 46,777 32,776 344 223 2,450 3,444 4,466 540 390 96,738

39,880

96,738

November 2010 at a cost of 99,000. This was invoiced on 6 November 2010 and paid, in full, on 1 December 2010. No entry has been made in the accounts. Interest on the bank loan for the last six months of the year has not been included in the accounts in the trial balance. The corporation tax charge for the year has been calculated as 980,000. All of the operations are continuing operations.

Required Draft the statement of comprehensive income and statement of financial position for Martin Ltd for the year ended 31 October 2010.
(Adpated AAT Qu)