You are presented with the following summarised information relating to Block plc for the year to 30 September 20X8:

Additional information:

1. Block purchased 80 per cent of the share capital of Chip on 1 October 20X3 when Chip’s profit and loss account balance was £200,000 credit.

2. On 1 October 20X7 Block purchased 60 per cent of the share capital of Knot. Knot’s profit and loss account balance at that date was £500,000 credit.

3. Goodwill is not amortised.

4. During the year to 30 September 20X8, Block sold goods costing £200,000 to Chip for £300,000. Half of these goods remained in stock at the year end.

5. Intercompany debts at the year end were as follows:

Required:

Prepare the Block plc group of companies’ consolidated balance sheet as at 30 September 20X8. Formal notes to the accounts are NOT required, although detailed working should be submitted with your answer.

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Fixed assets Investments Shares in group companies: Chip Ltd Knot Ltd Current assets Stocks Trade debtors Cash at bank and in hand Creditors: amounts falling due within one year Trade creditors Proposed dividend Capital and reserves Called-up share capital (ordinary shares of £1 each) Profit and loss Block plc £000 ( 8,900 2,500 1,600 4,100 300 1,600 400 2,300 200) 100) 300) 15,000 10,000 5,000 15,000 Chip Ltd £000 3,240 ( 160 130 110 400 90) 50) 140) 3,500 3,000 500 3,500 Knot Ltd £000 2,280 80 50 120 250 (110) (20) 130) 2,400 2,000 400 2,400