A Relevant statements of financial position as at 31 March 2013 are set out below: Kasbah Fortran plc pic 000 000 91,800 7,600 Jasmin (Holdings) plc 000 289,400 Investments Shares in Kasbah (at cost) 97,600 Shares in Fortran (at cost) 8,000 395,000 91,800 7,600 Current assets Inventory 285,600 151,400 2,600 Cash 319,000 500 6,800 604,600 151,900 9,400 Total assets Current liabilities Creditors 999,600 243,700 17,000 (289,600) (238,500) (2,200) 710,000 5,200 14,800 Net assets Equity Called-up share capital Ordinary 1 shares 60,000 20,000 10,000 10% 1 Preference shares 4,000 Revaluation reserve 40,000 1,200 Retained profits 610,000 (18,800) 3,600 710,000 5,200 14,800 You have recently been appointed chief accountant of Jasmin (Holdings) plc and are about to prepare the group statement of financial position at 31 March 2013. The following points are relevant to the preparation of those accounts.
(i) Jasmin (Holdings) plc owns $90 \%$ of the ordinary $£ 1$ shares and $20 \%$ of the $10 \% £ 1$ preference shares of Kasbah plc. On 1 April 2012 Jasmin (Holdings) plc paid $£ 96$ million for the ordinary $£ 1$ shares and $£ 1.6$ million for the $10 \% £ 1$ preference shares when Kasbah's reserves were a credit balance of $£ 45$ million.
(ii) Jasmin (Holdings) plc sells part of its output to Kasbah plc. The inventory of Kasbah plc on 31 March 2013 includes $£ 1.2$ million of inventory purchased from Jasmin (Holdings) plc at cost plus one-third.
(iii) The policy of the group is to revalue its tangible non-current assets on a yearly basis. However, the directors of Kasbah plc have always resisted this policy, preferring to show tangible noncurrent assets at historical cost. The market value of the tangible non-current assets of Kasbah plc at 31 March 2013 is $£ 90$ million. The directors of Jasmin (Holdings) plc wish to follow the requirements of IFRS 3 (Business combinations) and IAS 16 (Property, plant and equipment) in respect of the value of tangible non-current assets to be included in the group accounts.
(iv) The ordinary $£ 1$ shares of Fortran plc are split into 6 million ' $A$ ' ordinary $£ 1$ shares and 4 million 'B' ordinary $£ 1$ shares. Holders of 'A' shares are assigned one vote and holders of 'B' ordinary shares are assigned two votes per share. On 1 April 2012 Jasmin (Holdings) plc acquired $80 \%$ of the 'A' ordinary shares and $10 \%$ of the ' $B$ ' ordinary shares when the retained profits of Fortran plc were $£ 1.6$ million and the revaluation reserve was $£ 2$ million. The 'A' ordinary shares and 'B' ordinary shares carry equal rights to share in the company's profits and losses.
(v) The fair values of Kasbah plc and Fortran plc were not materially different from their book values at the time of acquisition of their shares by Jasmin (Holdings) plc.
(vi) Kasbah plc has paid its preference dividend for the current year but no other dividends are proposed by the group companies. The preference dividend was paid shortly after the interim results of Kasbah plc were announced and was deemed to be a legal dividend by the auditors.
Authors' note: Impairment reviews indicate that no further adjustments to goodwill are required.
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(a) Prepare a consolidated statement of financial position for Jasmin (Holdings) Group plc for the year ending 31 March 2013. (All calculations should be made to the nearest thousand pounds.)

(b) Comment briefly on the possible implications of the size of Kasbah plc's losses for the year for the group accounts and the individual accounts of Jasmin (Holdings) plc.