The following are the summarised statements of financial position of P Ltd and S Ltd at 31 December 2016.

There were no additions or disposals of non-current assets by the group during the year.
(b) P Limited acquired its holding on 1 January 2016, when the balance on S Limited’s reserves stood at £50,000. The investment consists of 150,000 ordinary shares of £1 each, fully paid, purchased for £250,000.
(c) P Limited included in its statement of profit or loss a dividend of £7,500 from S Limited in March 2016, in respect of the shares acquired on 1 January 2016. S Limited does not intend to pay an ordinary dividend for the year ended 31 December 2016.

Required:
Prepare a consolidated statement of financial position for P Limited and its subsidiary S Limited at 31 December 2016.

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Non-current assets Tangible non-current assets (see Note (a)) Loan to 5 Ltd Investment in S Ltd Current assets Inventory Accounts receivable Loan interest Bank Total assets Current liabilities Trade accounts payable Loan interest Non-current liabilities Loan from P Ltd Net assets Equity Ordinary shares of £1 each, fully paid 8% preference shares of £1 each, fully paid Reserves Notes: (a) Tangible non-current assets P Limited Buildings Plant and machinery Motor vehicles Tangible non-current assets S Limited Buildings Plant and machinery Motor vehicles P Limited £ 110,000 98,000 2,000 30,000 190,000 190,000 £ 320,000 50,000 250,000 240,000 860,000 (190,000) 670,000 500,000 170,000 670,000 S Limited £ 50,000 40,000 10,000 Cost £ 28,000 2,000 30,000 50,000 Cumulative depreciation £ Cost £ 120,000 10,000 200,000 40,000 80,000 30,000 400,000 80,000 Cumulative depreciation £ 300,000 100,000 120,000 30,000 130,000 60,000 550,000 190,000 £ 360,000 100,000 460,000 (80,000) 380,000 200,000 100,000 80,000 380,000 WDV £ 110,000 160,000 50,000 320,000 WDV f 200,000 90,000 70,000 360,000