You are presented with the following information from the Seneley group of companies for the year to 30 September 2006:

Additional information:

(a) The authorised, issued and fully paid share capital of all three companies consists of £1 ordinary shares.

(b) Seneley purchased 320,000 shares in Lowe Ltd on 1 October 2003, when Lowe’s profit and loss account balance stood at £90,000.

(c) Seneley purchased 140,000 shares in Wright Ltd on 1 October 2005, when Wright's profit and loss account balance stood at £60,000.

(d) During the year to 30 September 2006, Lowe had sold goods to Wright for £15,000. These goods had cost Lowe £7,000, and Wright still had half of these goods in stock as at 30 September 2006.
Minority interests are not charged with their share of any unrealised stock profits.

(e) Included in the respective trade creditor and trade debtor balances as at 30 September 2006 were the following intercompany debts:
• Seneley owed Wright £5,000 • Lowe owed Seneley £20,000 • Wright owed Lowe £25,000.

(f) Seneley does not amortise goodwill arising on consolidation.

Required:

Prepare the Seneley group's consolidated balance sheet as at 30 September 2006. Your workings should be submitted.

Transcribed Image Text:

Seneley plc 000 Lowe Ltd 000 225 300 Tangible fixed assets Investments Shares in group companies: Lowe Ltd 450 Wright Ltd 130 580 Current assets Stocks Trade debtors Cash at bank and in hand Creditors: amounts falling due within one year Trade creditors Net current assets Capital and reserves Called-up share capital Profit and loss 11 | 225 150 240 180 10 515 340 Wright Ltd 000 220 Rg| 8888| ( 320) (90) (70) 195 250 1,000 550 800 400 200 150 1,000 550