On 1 April 2014, Machinery Limited bought 80% of the ordinary share capital of Components Limited. On 1 April 2016, Machinery Limited was itself taken over by Sales Limited who purchased 75% of the ordinary shares in Machinery Limited. The statements of financial position of the three companies at 31 October 2018 prepared for internal use showed the following position:

Additional information:
(a) All ordinary shares are £1 each, fully paid.
(b) Preference shares in Components Ltd are 50p each fully paid.
(c) All creditors are payable within one year.
(d) Items purchased by Machinery Ltd from Components Ltd and remaining in inventory at 31 October 2018 amounted to £25,000. The profit element is 20% of selling price for Components Ltd.
(e) Depreciation policy of the group is to provide for:
(i) buildings – at the rate of 2% on cost each year;
(ii) plant and equipment – at the rate of 10% on cost each year including full provision in the year of acquisition.
These policies are applied by all members of the group.
Included in the plant and equipment of Components Ltd is a machine purchased from the manufacturers, Machinery Ltd, on 1 January 2017 for £10,000. Machinery Ltd recorded a profit of £2,000 on the sale of the machine.
(f) Intra-group balances are included in accounts receivable and accounts payable respectively and are as follows:

(g) A cheque drawn by Sales Ltd for £11,300 on 28 October 2018 was received by Machinery Ltd on 3 November 2018.
(h) At 1 April 2014, reserves in Machinery Ltd were £28,000 and in Components Ltd £20,000. At 1 April 2016 the figures were £40,000 and £60,000 respectively.

Required:
Prepare a group statement of financial position at 31 October 2018 for Sales Ltd and its subsidiaries complying, so far as the information will allow, with the accounting requirements of international accounting standards.

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Non-current assets Freehold land at cost Buildings at cost Less Accumulated depreciation Plant and equipment at cost Less Accumulated depreciation Investments Shares in Machinery at cost Shares in Components at cost Current assets Inventory Account receivable Cash at bank Total assets Current liabilities Accounts payable Bank overdraft Corporation tax Net assets Ordinary shares 10% preference shares Revenue reserves Sales Ltd £ 100,000 (36,000) 102,900 (69,900) 108,500 196,700 40,200 240,000 57,400 £ 89,000 64,000 33,000 186,000 120,000 306,000 345,400 651,400 (297,400) 354,000 200,000 154,000 354,000 Machinery Ltd £ £ 120,000 (40,000) 170,000 (86,000) 75,500 124,800 200,700 69,400 47,200 30,000 80,000 84,000 194,000 128,000 322,000 200,300 522,300 (317,300) 205,000 120,000 85,000 205,000 Components Ltd £ £ 40,000 (16,400) 92,000 (48,200) 68,400 83,500 25,400 71,200 24,500 65,000 23,600 43,800 132,400 132,400 177,300 309,700 (95,700) 214,000 100,000 40,000 74,000 214,000