Draw up a consolidated statement of financial position as at 31 March 2023 using the following information.

Parent Company Balance Sheet as at 31 March 2023:

• Non-current assets:
  • Investment in Subsidiary: £750,000 (500,000 shares acquired on 31.03.2022)
  • Property, plant, and equipment: £800,000
  • Less Depreciation: (£200,000)
• Current assets: £150,000
• Equity:
  • Share capital: £900,000
  • Retained earnings:
    • As at 31.03.2022: £250,000
    • Add Profit for 2023: £70,000

Subsidiary Company Balance Sheet as at 31 March 2023:

• Non-current assets: £450,000
  • Less Depreciation: (£150,000)
• Current assets: £250,000
• Equity:
  • Share capital: £350,000
  • Retained earnings:
    • As at 31.03.2022: £120,000
    • Add Profit for 2023: £50,000

Additional Information: Parent Company sold a building to Subsidiary Company for £100,000. The building originally cost £90,000. Subsidiary Company depreciated the building by 20% of the purchase value during 2023.