The Elite Bowling and Social Club prepares its annual financial statements to 31 October. The following receipts and payments account has been prepared by the treasurer:

Additional information
1. The book values of the non-current assets on 31 October 20X0 were: furniture, fixtures and fittings £396 (cost £440), and mower £20 (cost £120).
2. The current assets and liabilities were as follows:

3. During the year the steward commenced to provide light refreshments at the bar and it has been agreed that in the annual financial statements provision should be made for the payment to him of a bonus of 40 per cent of the gross profit arising from this catering venture.
4. Depreciation to furniture, fixtures and fittings is to be provided at a rate of 10 per cent on cost. No depreciation is to be provided on the new mower, but a full year on the new furniture.

Required
a. Prepare a statement showing the accumulated fund of the club as on 31 October 20X0.
b. Prepare an income and expenditure account for the year ended 31 October 20X1 (showing separately gross profit on bar sales and catering).
c. Prepare a statement of financial position as at 31 October 20X1.

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Cash in hand, 31/10/20X0 Balances at bank, 31/10/20X0: - Current account - Deposit account Spectators' entrance fees Subscriptions:- To 31/10/X0 - To 31/10/X1 - To 31/10/X2 Bar takings Deposit account interest Catering receipts Receipts and payments account £ 10 263 585 54 30 574 2,285 26 120 3,991 Bar purchases Wages Rent and rates Lighting and heating New mower (less allowance for old one £40) General expenses Catering purchases Additional furniture Cash in hand at 31/10/X1 Balances at bank 31/10/X1: - Current account - Deposit account £ 1,885 306 184 143 120 132 80 460 8 176 497 3,991