The following summarised information relates to the Pagg group of companies.

\section*{Additional information:}
1 Pagg acquired its shareholding in Ragg Ltd for $£ 3,000$ on 1 April 2008. Ragg's retained profits balance at that time was $£ 600,000$. Goodwill arising was $£ 1,720$.
2 The shares in Tagg Ltd were acquired on 1 April 2012 for $£ 1,000$ when Tagg's retained profits balance was $£ 100,000$. Goodwill arising was $£ 640$.
3 Impairment reviews of the goodwill amounts as required by IAS 38 have reduced the investments to the amounts shown above.
4 At 31 March 2013, Ragg had in inventory goods purchased from Tagg at a cost to Ragg of $£ 60,000$. These goods had been invoiced by Tagg at cost plus $20 \%$.
5 Intercompany debts at 31 March 2013 were as follows: Pagg owed Ragg $£ 200,000$ and Ragg owed Tagg $£ 35,000$.
\section*{Required: $\square$}
In so far as the information permits, prepare the Pagg group of companies' consolidated statement of financial position as at 31 March 2013 in accordance with the relevant accounting standards.
Note: Formal notes to the accounts are NOT required, although detailed working must be submitted with your answer.

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Statement of Financial Position at 31 March 2013 Pagg plc Ragg Ltd Tagg Ltd 000 000 000 Non-current assets Tangible assets at net book value 2,000 900 600 Investments 800,000 ordinary shares in Ragg Ltd 2,570 300,000 ordinary shares in Tagg Ltd 968 3,538 Total non-current assets 5,538 900 600 Current assets Inventory Debtors 1,300 350 100 3,000 200 300 Cash 200 20 50 4,500 570 450 Total assets 10,038 1,470 1,050 Current liabilities: Accounts payable (4,000) (270) (400) 6,038 1,200 650 Capital and reserves Called-up share capital (all ordinary shares of 1 each) 5,500 1,000 500 Retained profits 538 200 150 6,038 1,200 650