The following trial balance relates to Quincy as at 30 September 2019:

The following notes are relevant:
1. On 1 October 2018, Quincy sold one of its products for £10 million (included in revenue in the trial balance). As part of the sale agreement, Quincy is committed to the ongoing servicing of this product until 30 September 2021 (i.e. three years from the date of sale). The value of this service has been included in the selling price of £10 million. The estimated cost to Quincy of the servicing is £600,000 per annum and Quincy’s normal gross profit margin on this type of servicing is 25%. Ignore discounting.

2. Quincy issued £25 million of 6% loan stock on 1 October 2018. Issue costs were £1 million and these have been charged to administrative expenses. The loan will be redeemed on 30 September 2021 at a premium which gives an effective interest rate on the loan of 8%.

3. Quincy paid an ordinary dividend of 8 pence per share during the year ended 30 September 2019.

4. Quincy had been carrying land and buildings at depreciated cost but it decided to revalue its property on 1 October 2018 to market value. An independent valuer confirmed the value of the property at £60 million (land element £12 million) as at that date and the directors accepted this valuation. The buildings had a remaining life of 16 years at the date of its revaluation. Quincy will make a transfer from the revaluation reserve to retained earnings in respect of the realisation of the revaluation reserve. Ignore deferred tax on the revaluation. Plant and equipment is depreciated at 15% per annum using the reducing balance method. !No depreciation has yet been charged on any non-current asset for the year ended 30 September 2019. All depreciation is charged to cost of sales.

5. The investments (holdings of ordinary shares) had a fair value of £15.7 million as at 30 September 2019. There were no acquisitions or disposals of these investments during the year ended 30 September 2019.
6. The balance on current tax represents the under/over provision of the tax liability for the year ended 30 September 2018. A provision for current tax for the year ended 30 September 2019 of £7.4 million is required. At 30 September 2019, Quincy had taxable temporary differences of £5 million, requiring a provision for deferred tax. Quincy's tax rate is 20%.

Required:

Prepare the following financial statements for Quincy:

(a) A statement of comprehensive income for the year to 30 September 2019

(b) A statement of changes in equity for the year to 30 September 2019

(c) A statement of financial position as at 30 September 2019.

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Revenue (note 1) Cost of sales Distribution costs Administrative expenses Loan stock interest and dividend paid (notes 2 and 3) Investment income Ordinary shares of 25p each 6% Loan stock (note 2) Retained earnings at 1 October 2018 Land, at cost (note 4) Buildings, at cost (note 4) Plant and equipment, at cost Accumulated depreciation at 1 October 2018: Buildings Plant and equipment Investments (note 5) Inventory at 1 October 2018 Trade receivables and payables Bank Current tax (note 6) Deferred tax (note 6) £000 136,800 12,500 19,000 20,700 10,000 40,000 83,700 17,000 24,800 28,500 2,900 1,100 397,000 £000 213,500 400 60,000 25,000 18,500 8,000 33,700 36,700 1,200 397,000