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The following balances have been extracted from the books of Bright Days plc at 31 March 2015: Bright Days Plc Administrative expenses 316 Deferred taxation Directors' rermuneration Distribution expenses Dividends received Interest paid 1,390 Land and buildings Machinery-cost 1,578 Opening inventories Premises-cost Premises - accumulated depreciation 3,800 210 578 10.404 1,800 Retained earnings Share capital 25p ordinary shares Trade payables Trade receivables 6% Debenture 2018 You are also provided with the following information Closing inventonies were estimated at 850m. A piece of land was recently revalued to 150m. The cost of the land before revaluation was 105m. No accounting entries were made in respect of this revaluation. Depreciation is to be charged on the following basis Premises: 2% straight line Machinery: 25% reducing balance. * * Corporation tax is ostimated as 650 m for the yoar Question continues on next page) i) Prepare Bright Days plc's "statement of profit and loss" for the year ended 31 March 2015 and its "statement of financial position as at that date. These should be in a suitable form for publication, insofar as this is possible from the above information. [14 marks] i) The company's CFO is concerned that the narrative part of the annual report is too detailed. As a manager responsible for is preparation: a) explain the purpose of the narrative part of the annual report; b) give examples of the stakeholders who use narrative and numerical financial information. ii) Calculate profitabilty margin ratios for Bright Days plc and explain how these ratios could 12 marks indicate the type of business model tha the company has adopted List any other information that would be useful in order to improve the interpretation of these ratios 14 marks) Total 20 marks The following balances have been extracted from the books of Bright Days plc at 31 March 2015: Bright Days Plc Administrative expenses 316 Deferred taxation Directors' rermuneration Distribution expenses Dividends received Interest paid 1,390 Land and buildings Machinery-cost 1,578 Opening inventories Premises-cost Premises - accumulated depreciation 3,800 210 578 10.404 1,800 Retained earnings Share capital 25p ordinary shares Trade payables Trade receivables 6% Debenture 2018 You are also provided with the following information Closing inventonies were estimated at 850m. A piece of land was recently revalued to 150m. The cost of the land before revaluation was 105m. No accounting entries were made in respect of this revaluation. Depreciation is to be charged on the following basis Premises: 2% straight line Machinery: 25% reducing balance. * * Corporation tax is ostimated as 650 m for the yoar Question continues on next page) i) Prepare Bright Days plc's "statement of profit and loss" for the year ended 31 March 2015 and its "statement of financial position as at that date. These should be in a suitable form for publication, insofar as this is possible from the above information. [14 marks] i) The company's CFO is concerned that the narrative part of the annual report is too detailed. As a manager responsible for is preparation: a) explain the purpose of the narrative part of the annual report; b) give examples of the stakeholders who use narrative and numerical financial information. ii) Calculate profitabilty margin ratios for Bright Days plc and explain how these ratios could 12 marks indicate the type of business model tha the company has adopted List any other information that would be useful in order to improve the interpretation of these ratios 14 marks) Total 20 marks