On 1 April 2021 Sun plc acquired the following investments:

• 70% ordinary shares in Earth Ltd at a cost of 400 million.
• 30% ordinary shares in Mercury at a cost of 80 million.

Draft statements for these three companies as at 30 September 2021 are summarized below:

	Sun	Earth	Mercury
	£000	£000	£000
Assets
Non-current assets
Property, plant and equipment	360,000	270,000	190,000
Investments in Earth (at cost)	400,000	-
Investments in Mercury (at cost)	80,000
Current assets
Inventory	165,000	102,000	120,000
Accounts receivables	114,000	54,000	80,000
Cash and cash equivalents	30,000	15,000	5,000
Total assets	1,149,000	441,000	395,000
Equity
Ordinary Shares	600,000	240,000	180,000
Retained earnings	186,000	135,000	130,000
Liabilities
Non-current liabilities
Loan	253,000	48,000	30,000
Current liabilities	110,000	18,000	55,000
Total equity and liabilities	1,149,000	441,000	395,000

Continued Overleaf

The following additional information is given:

• On 1 April 2021 the fair value of Earth’s assets was equal to their carrying value other than land and the value of its brand name.
• 
  
• During negotiations it has been established that the fair value of the land was £6,000,000 in excess of its carrying value and the brand name fair value was £1,700,000. The brand name was considered to have an indefinite life. Neither have been reflected in the above statements. An impairment test on 30 September 2021 concluded that the consolidated goodwill was impaired by £360,000.
• The net profit after tax for the year ended 30 September 2021 was £84 million for Earth and £65 million for Mercury. Profits accrue evenly throughout the year.
• No dividends were paid during the year by any of the companies and their share capital is unchanged since 1 April 2021.
• Non-controlling interests in any subsidiaries are to be measured at the appropriate proportion of the subsidiaries’ identifiable net assets.
• Sun’s own financial statements reflect investments at cost.

Required:

• Prepare the consolidated statement of financial position for the Sun plc group as at 30 September 2021.