Ma and Pa Ltd bought 60,000 of the 120,000 issued ordinary $£ 1$ shares of Kid Ltd for $£ 200,000$ on 31 July 2013. The Kid Ltd financial statements are drawn up annually to 31 December The statement of financial position of Kid Ltd on 31 December 2012 showed a balance of retained profits of $£ 40,000$. The income statement of Kid Ltd for the year ending 31 December 2013 showed a profit of $£ 72,000$. No other reserves appear in either statement of financial position. Calculate the figure for the goodwill to be shown in the consolidated statement of financial position as at 31 December 2013.