On 1 January 2020, Darren Co acquired 75% of Letare Co's equity shares by means of a share exchange of two shares in Darren Co for every three Letare Co shares acquired. On that date, further consideration was also issued to the shareholders of Letare Co in the form of a sh.100 8% loan note for every 100 shares acquired in Letare Co. None of the purchase consideration, nor the outstanding interest on the loan notes at 31 March 2020, has yet been recorded by Darren Co. At the date of acquisition, the share price of Darren Co and Letare Co is sh.320 and sh.180 respectively. The summarised statements of financial position of the two companies as at 31 March 2020 are: Darren Co Letare Co sh.'000 sh.'000 Assets Non-current assets Property, plant and equipment (note (i)) 75,200 31,500 Investment in Amery Co at 1 April 2019 (note (iv)) 4,500 - -------- ------- 79,700 31,500 Current assets Inventory (note (iii)) 19,400 18,800 Trade receivables (note (iii)) 14,700 12,500 Bank 1,200 600 -------- ------- 35,300 31,900 Total assets -------- ------- 115,000 63,400 -------- ------- Equity and liabilities Equity Equity shares of sh.1 each 50,000 20,000 Retained earnings - at 1 April 2019 20,000 19,000 - for year ended 31 March 2020 16,000 8,000 -------- ------- 86,000 47,000 Non-current liabilities 8% loan notes 5,000 nil Current liabilities (note (iii)) 24,000 16,400 -------- ------- 29,000 16,400 Total equity and liabilities -------- ------- 115,000 63,400 -------- ------- The following information is relevant: (i) At the date of acquisition, the fair values of Letare Co's assets were equal to their carrying amounts. However, Letare Co operates a mine which requires to be decommissioned in five years' time. No provision has been made for these decommissioning costs by Letare Co. The present value (discounted at 8%) of the decommissioning is estimated at sh.4m and will be paid five years from the date of acquisition (the end of the mine's life). (ii) Darren Co's policy is to value the non-controlling interest at fair value at the date of acquisition. Letare Co's share price at that date can be deemed to be representative of the fair value of the shares held by the non-controlling interest. (iii) The inventory of Letare Co includes goods bought from Darren Co for sh.21m. Darren Co applies a consistent mark-up on cost of 40% when arriving at its selling prices. On 28 March 2020, Darren Co dispatched goods to Letare Co with a selling price of sh.700,000. These were not received by Letare Co until after the year end and so have not been included in the above inventory at 31 March 2020. At 31 March 2020, Darren Co's records showed a receivable due from Letare Co of sh.3m, this differed to the equivalent payable in Letare Co's records due to the goods in transit. The intra-group reconciliation should be achieved by assuming that Letare Co had received the goods in transit before the year end. (iiii) The investment in Amery Co represents 30% of its voting share capital and Darren Co uses equity accounting to account for this investment. Amery Co's profit for the year ended 31 March 2020 was sh.6m and Amery Co paid total dividends during the year ended 31 March 2020 of sh.2m. Darren Co has recorded its share of the dividend received from Amery Co in investment income (and cash). (v) All profits and losses accrued evenly throughout the year. (vi) There were no impairment losses within the group for the year ended 31 March 2020. Required: Prepare the consolidated statement of financial position for Darren Co as at 31 March 2020