Given the following balance sheets and additional information, prepare a consolidated balance sheet as of 30 June 2023.

Parent Ltd Balance Sheet as at 30 June 2023:

• Non-current assets: £1,400,000
  • Less Depreciation: (£450,000)
• Current assets: £300,000
• Share capital: £1,500,000
• Retained earnings:
  • As at 30.06.2022: £500,000
  • Add Profit for 2023: £100,000

Subsidiary Ltd Balance Sheet as at 30 June 2023:

• Non-current assets: £900,000
  • Less Depreciation: (£350,000)
• Current assets: £200,000
• Share capital: £700,000
• Retained earnings:
  • As at 30.06.2022: £250,000
  • Add Profit for 2023: £70,000

Additional Information: Parent Ltd acquired 75% of Subsidiary Ltd on 1 July 2022. Parent Ltd sold machinery to Subsidiary Ltd for £80,000, which originally cost Parent Ltd £75,000. Subsidiary Ltd depreciated this machinery by 12% during 2023.