When Parental Times Ltd bought the shares of Siblings Ltd it valued the fixed assets at £120,000 instead of the figure of £90,000 as shown in the balance sheet of Siblings Ltd.
Draw up a consolidated balance sheet as at 31 March 2005.

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Parental Times Ltd Balance Sheet as at 31 March 2005 Investment in Subsidiary: 80,000 shares bought on 31.3.2004 160,000 Fixed assets Less Depreciation for year Current assets 110,000 (22,000) 88,000 37,000 285,000 Share capital Profit and loss: As at 31.3.2004 Add Profit for 2005 200,000 51,000 34,000 85,000 285,000