The statements of financial position of M Ltd, P Ltd and Q Ltd as at 31 July 2023 are as follows:

The following information is available:(a) On 31 July 2020, M Ltd paid £410,000 to acquire 90% of the ordinary share capital of P Ltd. The retained earnings of P Ltd on that date were £220,000. The company's issued share capital has not changed since M Ltd acquired its holding. On 31 July 2020, the fair value of the non-current assets of P Ltd was £80,000 higher than their book value. This valuation has not been reflected in the books of P Ltd.(b) On 31 July 2022, M Ltd paid £100,000 to acquire 25% of the ordinary share capital of Q Ltd. The retained earnings of Q Ltd on that date were £240,000 and all of its assets and liabilities were carried at fair value. The company's issued share capital has not changed since M Ltd acquired its holding.

(c) There have been no impairment losses.(d) Non-controlling interests in subsidiaries are to be measured at the non-controlling shareholders' proportion of the subsidiary's identifiable net assets.(e) Any depreciation consequences of the fair value adjustment relating to the noncurrent assets of P Ltd may be ignored.

Required:Prepare a consolidated statement of financial position for M Ltd as at 31 July 2023.

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Assets Non-current assets Property, plant and equipment Investment in P Ltd Investment in Q Ltd Current assets Equity Ordinary share capital Retained earnings Liabilities Current liabilities M Ltd £000 2,570 410 100 3,080 1,150 4,230 1,000 2,420 3,420 810 4,230 P Ltd £000 370 220 590 100 380 480 110 590 Q Ltd £000 280 170 450 80 280 360 90 450