The following summarised information relates to the Pagg group of companies.

\section*{Additional information:}
1 Pagg acquired its shareholding in Ragg Ltd on 1 April 19X5. Ragg's profit and loss account balance at that time was \(£ 600,000\).
2 The shares in Tagg Ltd were acquired on 1 April 19X9 when Tagg's profit and loss account balance was \(£ 100,000\).
3 All goodwill arising on consolidation is amortised in equal amounts over a period of 20 years commencing from the date of acquisition of each subsidiary company.
4 At 31 March 19X0, Ragg had in stock goods purchased from Tagg at a cost to Ragg of \(£ 60,000\). These goods had been invoiced by Tagg at cost plus 20 per cent. Minority interests are not charged with any inter-company profit.
5 Inter-company debts at 31 March 19X0 were as follows:
Pagg owed Ragg \(£ 200,000\) and Ragg owed Tagg \(£ 35,000\).
\section*{Required:}
Insofar as the information permits, prepare the Pagg group of companies' consolidated balance sheet as at 31 March 19X0 in accordance with the Companies Acts and standard accounting practice. Note: Formal notes to the accounts are NOT required, although detailed working must be submitted with your answer.

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Balance Sheet at 31 March 19X0 Pagg plc 000 Ragg Ltd 000 Tangible fixed assets at net book value Investments 2,000 900 Tagg Ltd 000 600 800,000 ordinary shares in Ragg Ltd 3,000 300,000 ordinary shares in Tagg Ltd 1,000 4,000 Current assets Stocks 1,300 350 100 Debtors 3,000 200 300 Cash 200 20 50 4,500 570 450 Current liabilities Creditors (4,000) (270) (400) 6,500 1,200 650 Capital and reserves Called-up share capital (all ordinary shares of 1 each) 5,500 1,000 500 Profit and loss account 1,000 200 150 6,500 1,200 650