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The following trial balance has been extracted from the books of Walrus plc as at 31 March 2018:

, 000 , 000

	Land, at cost						120	-
	Buildings, at cost						250	-
	Equipment, at cost						196	-
	Vehicles, at cost						284	-
	Goodwill, at cost						300	-
	Accumulated depreciation at 1 April 2017:
			Buildings				-	90
			Equipment				-	76
			Vehicles				-	132
	Inventory at 1 April 2017						107
	Trade receivables and payables						183	117
	Allowance for receivables							8
	Bank balance							57
	Corporation tax							6
	Ordinary shares of 1 each							200
	Retained earnings at 1 April 2017							503
	Sales							1,432
	Purchases						488
	Directors' fees						150
	Wages and salaries						276
	General distribution cost						101
	General administrative expenses						186
	Dividend paid						20
	Rents received							30
	Disposal of vehicle							10
	Total						2,661	2,661
The following further information is available: 1. The company's non-depreciable land was valued at 300,000 on 31 March 2018 and this
valuation is to be incorporated into the accounts for the year to 31 March 2018. 2. The company's depreciation policy is as follows: - Buildings 4% p.a. straight line - Equipment 40% p.a. reducing balance - Vehicles 25% p.a. straight line In all cases, a full year's depreciation charged in the year of acquisition and no depreciation is charged in the year of disposal. 3. On 1 February 2018, a vehicle used entirely for administrative purposes was sold for 10,000. The sale proceeds were banked and credited to a disposal account but no other entries were made in relation to this disposal. The vehicle had cost 44,000 in August 2014. This was the only disposal of a non-current asset made during the year to 31 March 2018. 4. Depreciation is apportioned as follows: Distribution costs Administrative expenses Buildings 50% 50% Equipment 25% 75% Vehicles 70% 30%

5. The company's inventory at 31 March 2018 is valued at 119,000.

6. Trade receivables include a debt of 8,000 which is to be written off. The allowance for

receivables is to be adjusted to 4% of the receivables which remain after this debt has been

written off.

7. The corporation tax for the year to 31 March 2017 was over-estimated by 6,000. The
Corporation tax liability for the year to 31 March 2018 is estimated to be 30,000.
8. One quarter of wages and salaries were paid to distribution staff and the remaining three quarters were paid to administrative staff.

9. General administrative expenses include bank overdraft interest of 9,000.

10. A dividend of 10p per ordinary share was paid on 31 December 2017. No further dividends are proposed for the year to 31 March 2018.

Required:

Prepare the following financial statements for Walrus plc in accordance with the requirements of international standards.

A statement of comprehensive income for the year to 31 March 2018.

A statement of financial position as at 31 March 2018.

A statement of changes in equity for the year to 31 March 2018.

balance as the invoice was received after the year end. (v) Loan interest for the last six months of the year has not been paid or accounted for. (vi) The corporation tax charge for the year has been calculated as 235,000. Draft the statement of comprehensive income of Tanhosier Ltd for the year to 31 March 2020 and a statement of financial position at that date. (Amended from AAT) 3.4 Explain the purpose and structure of a statement of changes in equity. 3.5 List the main types of information which should be provided in the notes which accompany and form an integral part of the financial statements. 3.6 The following trial balance has been extracted from the books of Walrus ple as at 31 The following information is also avallable: 1. Non-depreciable land was valued at 300,000 on 31 March 2020 and this valuation is to be incorporated into the accounts for the year to 31 March 2020. 2. The company's depreciation policy is as follows: Buildings 4%p.A. straight line Equipment 40\% p.a. reducing balance Vehicles 25% p.a. straight line In all cases, a full year's depreciation is charged in the year of acquticion depreciation is charged in the year of disposal. None of the assets had be 3. On 1 February 2020, a vehicle used entirely for administrative purposes depreciated by 31 March 2019. for 10,000. The sale proceeds were banked and credited to a disposel entries were made in relation to this disposal. The vehicle ke f44,000 in August 2016. This was the only disposal of a non-current ater during the year to 31 March 2020. 4. Depreciation is apportioned as follows: 5. The company's inventory at 31 March 2020 is valued at 119,000. 6. Trade receivables include a debt of 8,000 which is to be written af allowance for receivables is to be adjusted to 4% of the receivables whict = after this debt has been written off. 7. Corponation tax for the year to 31 March 2019 was over-estimated by 2600 corporation tax liability for the year to 31 March 2020 is estimated to be Exll 8. One-quaner of wages and salaries were paid to distribution staff and the teat three-quaners were paid to administrative staff. 9. General administrative cxpenses include bank overdraft interest of 9.000. 10. A dividend of 10p per ordinary share was paid on 31 December 2019 . No dividendi are proposed for the year to 31 Mareh 2020. Rrguiredt Porare the following financial statements for Walrus ple in accordance with the st ments of intiornational stenderds: (i) A statcment of comprehchive income for the year to 31 March 2020 (b) s maicmicus of fincisial position as at 31 March 2020 (s) A saicencin as etunefs ia equity for the 3 car to 31 March 2020

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