On 1 January 20X0 Walpole Ltd acquired 90% of the ordinary shares of a French subsidiary Paris SA. At that date the balance on the retained earnings of Paris SA was €10,000. The non-controlling interest in Paris was measured as a percentage of identifiable net assets. No shares have been issued by Paris since acquisition. Paris SA's dividend was paid on 31 December 20X2. The summarised statements of comprehensive income and statements of financial position of Walpole Ltd and Paris SA at 31 December 20X2 were as follows:

The following information is also available:
(i) The revaluation reserve in Paris SA arose from the revaluation of non-current assets on 1/1/20X2.
(ii) No impairment of goodwill has occurred since acquisition.
(iii) Exchange rates were as follows:
At 1 January 20X0......................................................£1 = €2
Average for the year ending 31 December 20X2...................£1 = €4
At 31 December 20X1/1 January 20X2..............................£1 = €3
At 31 December 20X2.................................................£1 = €5
Required:
Assuming that the functional currency of Paris SA is the euro, prepare the consolidated accounts for the Walpole group at 31 December 20X2.

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Statements of comprehensive income for the year ended 31 December 20X2 Walpole Ltd £000 Paris SA £000 317,200 Sales 200,000 Opening inventories 50,000 22,000 90,000 180,000 Purchases Closing inventories 60,000 170,000 12,000 100,000 Cost of sales Gross profit 147,200 100,000 Dividend received from Paris SA 1,800 NIL Depreciation Other expenses Interest paid 30,000 30,000 7,000 15,000 6,000 51,000 98,000 3,000 Total expenses 40,000 60,000 Profit before taxation Taxation 21,000 15,000 45,000 Profit after taxation 77,000 Dividend paid 20,000 10,000 Statement of financial position as at 31 December 20X2 Walpole Ltd £000 Paris SA £000 Non-current assets 94,950 41,050 150,000 Investment in Paris SA Current assets: Inventories 60,000 12,000 Trade receivables Paris SA Cash 59,600 2,400 11,000 133,000 40,000 11,000 Total current assets 63,000 Current liabilities: Trade payables Walpole Ltd 45,000 18,000 12,000 Taxation 21,000 66,000 40,000 163,000 80,000 15,000 Total current liabilities 45,000 Debentures 10,000 Total assets less liabilities 158,000 60,000 Share capital Share premium 6,000 10,000 67,000 20,000 Revaluation reserve 12,000 Retained earnings 66,000 163,000 158,000