X plc acquired $80 \%$ of the ordinary share capital of $Y$ plc on 1 January 2012 for $£ 300,000$. The lists of balances of the two companies at 31 December 2012 were as follows:

\begin{tabular}{|c|c|c|}

\hline & $X p / c$ & Yp/c \\

\hline & $£ 000$ & $£ 000$ \\

\hline \multicolumn{3}{|l|}{ Called-up share capital: } \\

\hline 400,000 ordinary shares of $£ 1$ each, fully paid & 400 & \\

\hline 300,000 ordinary shares of $£ 0.50$ each, fully paid & & 150 \\

\hline Reserves as at 1 January 2012 & 220 & 90 \\

\hline Profits for 2012 & 40 & 28 \\

\hline Trade accounts payable & 130 & 80 \\

\hline Taxation & 30 & 14 \\

\hline \multicolumn{3}{|l|}{ Depreciation provisions: } \\

\hline Freehold property & 12 & 6 \\

\hline Plant and machinery & 40 & 12 \\

\hline \multirow[t]{2}{*}{ Current account } & & 14 \\

\hline & 872 & 394 \\

\hline \multicolumn{3}{|l|}{ Tangible non-current assets: } \\

\hline Freehold property, at cost & 120 & 160 \\

\hline Plant and machinery, at cost & 183 & 62 \\

\hline Investment in $Y$ plc & 300 & \\

\hline Inventory & 80 & 70 \\

\hline Accounts receivable & 160 & 90 \\

\hline Bank & 10 & 12 \\

\hline \multirow[t]{2}{*}{ Current account } & 19 & \\

\hline & 872 & 394 \\

\hline

\end{tabular}

Notes:

(a) A remittance of $£ 2,000$ from $Y$ plc to $X$ plc in December 2012 was not received by $X$ plc until January 2013.

(b) Goods, with an invoice value of $£ 3,000$, were despatched by $X$ plc in December 2012 but not received by $Y$ plc until January 2013. The profit element included in this amount was $£ 400$.

(c) Included in the inventory of $Y$ plc at 31 December 2012 were goods purchased from $X$ plc for $£ 10,000$. The profit element included in this amount was $£ 2,000$.

(d) No interim dividend was paid in 2012 by either company.

(e) Current accounts are the intra-group balances outstanding.

(f) Y plc has proposed a dividend of $£ 10,000$ be paid. It is unpaid at 31 December 2012 and is not provided for in the above trial balances.

\section*{Required:}

Prepare a consolidated statement of financial position for $X$ pic and its subsidiary $Y$ plc as at 31 December 2012