A year ago Pod Limited bought 225,000 £1 fully paid ordinary shares of Pea Limited for a consideration of £500,000. Pea Limited€™s share capital and share premium were each the same as at today€™s date. Simplified statements of financial position for both companies as at today€™s date, after having traded as a group for a year, are set out below. The statement of financial position of Pea Ltd reflects all of the assets of the company, net of liabilities stated at their fair values.

Required: 

Prepare a consolidated statement of financial position for Pod Ltd and its subsidiary company as at today€™s date.

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Statements of financial position as at today Pod Limited Pea Limited ASSETS Non-current assets Property, plant and equipment 1,104,570 982,769 Investments Shares in Pea Limited 500,000 1,604,570 982,769 Current assets Inventories 672,471 216,811 76,000 294,713 164,517 Trade receivables Amounts due from subsidiary company Cash 2,412 967,694 2,572,264 1,361 460,591 1,443,360 Total assets EQUITY AND LIABILITIES Equity Share capital: £1 ordinary shares Share premium Reserves as at a year ago Profit for year Total equity 750,000 250,000 449,612 300,000 50,000 86,220 17,532 453,752 69,504 1,519,116 Non-current liabilities Bank loan 800,000 750,000 Current liabilities Trade payables Amounts owing to holding company Borrowings - overdraft 184,719 137,927 76,000 68,429 25,681 239,608 1,443,360 253,148 Total equity and liabilities 2,572,264