A year ago Pod Ltd bought 225,000 £1 fully paid ordinary shares of Pea Ltd for a consideration of £500,000. Pea Ltd’s share capital and share premium were each the same as at today’s date. Simplified statements of financial position for both companies as at today’s date, after having traded as a group for a year, are set out below. The statement of financial position of Pea Ltd reflects all of the assets of the company, net of liabilities, stated at their fair values.

Required:
Prepare a consolidated statement of financial position for Pod Ltd and its subsidiary company as at today’s date.

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ASSETS Statements of financial position as at today Non-current assets Property, plant and equipment Investment Shares in Pea Ltd Pod Ltd Pea Ltd 1,104,570 982,769 500,000 1,604,570 982,769 Current assets Inventories 672,471 294,713 Trade receivables 216,811 164,517 Amounts due from subsidiary company 76,000 Cash 2,412 1,361 967,694 460,591 Total assets 2,572,264 1,443,360 EQUITY AND LIABILITIES Equity Share capital: 1 ordinary shares 750,000 300,000 Share premium 250,000 50,000 Reserves as at a year ago 449,612 86,220 Profit for year 69,504 17,532 1,519,116 453,752