The accountant of a private company has been able to get the use of a computer to produce the spreadsheets shown below but as yet the computer lacks a program to print out final accounts. The accountant nevertheless expects to use the spreadsheet data to reconstruct a summary statement of profit or loss and a statement of cash flows for the year ending 30 April 2016.

(i) Proceeds of £40,000 were received from the sale of plant and vehicles.
(ii) During the year the company redeemed 10,000 of its £1 ordinary shares for £125,000 wholly out of distributable profits and this transaction has not been included in the spreadsheets.

Required:
(a) Reconstruct the statement of profit or loss for the year ending 30 April 2016.
(b) Prepare a statement of cash flows for the year ending 30 April 2016.

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Goodwill Property Plant and vehicles Inventories Accounts receivable Bank and cash Movements of Assets during the year 2015/16 (£000) Sales during year Statement of Depreciation or amortisation for year (36) financial position value last year 760 540 230 254 50 1,834 (84) I (120) Additions during year 40 420 T 460 (60) 1 I (60) Other changes - 24 76 14 114 Statement of financial position value this year 40 724 816 254 330 64 2,228