The balance sheets for Maxi Limited and Mini Limited are set out below.

On 1 April last year, Maxi Limited purchased 1,500,000 shares of Mini Limited for a considera¬ tion of £5m. At that date Mini Limited’s share capital and share premium were each the same as shown above.
Required:
Prepare a consolidated balance sheet for Maxi Limited at 31 March this year.

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Balance sheets as at 31 March this year Maxi Limited Mini Limited 000 000 000 000 Non-current assets Property, plant and equipment Investment 23,000 17,800 1,500,000 shares in Mini Limited 5,000 28,000 17,800 Current assets Stocks 5,000 2,400 Debtors 4,280 1,682 Amounts owed by Maxi Limited 390 Cash at bank 76 1,570 9,356 6,042 Current liabilities Trade creditors (3,656) (2,400) Other creditors (1,047) (1,962) Amounts owed to Mini Limited (390) Overdraft (2,450) (7,543) (4,362) Net current assets 1,813 1,680 Non-current liabilities Bank loans (13,000) (14,000) 16,813 5,480 Equity 10,000,000 1 ordinary shares fully paid 10,000 2,000,000 50p ordinary shares fully paid 1,000 Share premium account 3,000 2,000 Profit and loss account at beginning of year 3,100 2,080 Profit for the year 713 400 16,813 5,480