The statements of financial position of M Ltd, P Ltd and Q Ltd as at 31 July 2020 are as follows:

The following information is available:
(a) On 31 July 2017, M Ltd paid £410,000 to acquire 90% of the 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 2017, 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 2019, M Ltd paid £100,000 to acquire 25% of the 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 appropriate 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 2020.

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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