The following is the statement of financial position of Round Music as at 30 June 20X8:

During the year ended 30 June 20X9 there was a fire that destroyed the books of account and supporting documents. However, from questioning the proprietor you have been able to obtain the following information:
1. The plant at 30 June 20X8 cost £50,000 and has been depreciated at 10 per cent per annum by the straight-line method on a strict time basis. Additional plant was purchased on 1 April 20X9 at a cost of £20,000. Plant costing £10,000 on 1 January 20X6 was sold on 1 October 20X8 for £4,450.
2. Inventories at 30 June 20X9 were valued at £8,630. This includes goods costing £1,120 that are worthless because of fire damage.
3. Trade receivables and trade payables at 30 June 20X9 were £6,120 and £3,480, respectively.
Trade receivables include doubtful receivables of £310.
4. Accruals and prepayments at 30 June 20X9 were £130 and £80, respectively.
5. There was a bank overdraft at 30 June 20X9 of £1,430.
6. During the year the business had borrowed £7,000 from Lickey Bank, which was repayable on 1 January 20Y2.
7. During the year the owner introduced additional capital of £5,000 and made drawings of £18,500 by cheque. The proprietor also took goods costing £750 from the business for his own use.

You are required to compute the profit for the year ended 30 June 20X9 and prepare a statement of financial position at that date. Show separately the cost of non-current assets and the aggregate depreciation in the statement of financial position.

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Statement of financial position for Round Music as at 30 June 20X8 ASSETS Non-current assets Plant Current assets Inventories Trade receivables Prepayments Bank Total assets EQUITY AND LIABILITIES Equity capital (owners') Current liabilities Trade payables Accruals (electricity) Total liabilities Total equity and liabilities £ 31,000 31,000 9,720 6,810 150 820 17,500 48,500 42,770 5,640 90 5,730 48,500