Question $1[30$ marks$]$

$1.$ On $1$ October $2020$ P Ltd acquired $\backslash (30\backslash \%\backslash )$ of the equity shares of A Ltd at a cost of $\backslash (\backslash$$ $7\mathrm{.}50\backslash )$ per share in cash when the retained earnings of A Ltd stood at $\backslash$$$11,000.$ On $1$ October $2021,$ P Ltd acquired a further tranche of $\backslash (30\backslash \%\backslash )$ of the equity shares of A Ltd at a price of $\backslash (\backslash$$ $9\backslash )$ per share cash which reflected the fair value of the share price of A Ltd$.$ The fair value of the identifiable assets and liabilities of A Ltd at $1$ October $2021$ reflected the firm's book values.

$2.$ On $1$ October $2020,$ S acquired $\backslash (80\backslash \%\backslash )$ of the share capital in SS Ltd for a cash consideration of $\backslash (\backslash$$ $8,000,000\backslash ).$

$3.$ On $1$ October $2021$ P Ltd acquired $3$ million equity shares in S Ltd by an exchange of one share in P Ltd for every $2$ shares in S Ltd plus $\backslash (\backslash$$ $1\mathrm{.}25\backslash )$ per acquired share in S Ltd$.$ The market price of each share in P Ltd at the date of acquisition was $\backslash (\backslash$$ $6\backslash )$ and the market price of each share in S Ltd at the date of acquisition was $\backslash (\backslash$$ $3\mathrm{.}25\backslash ).$ It should be noted that in the books of PLtd $,$ only the cash consideration of the investment in S was recorded. In addition, $\backslash (\backslash$$ $500,000\backslash )$ of professional costs relating to the investment in S Ltd was also included as part of the cost of the investment.

$4.$ At the date of acquisition, S Ltd had an intangible asset worth $\backslash (\backslash$$ $1,000,000\backslash ).$ The intangible asset has an indefinite life and has not suffered any impairment since acquisition.

$5.$ On $1$ October $2021,$ P Ltd sold an item of plant to S Ltd at its agreed fair value of $\backslash (\backslash$$ $2\mathrm{.}5\backslash )$ million. Its carrying amount prior to sale was $\backslash (\backslash$$ $2\backslash )$ million. The estimated remaining life of the plant at the date of sale was $5$ years.

$6.$ During the year ended $30$ September $2022,$ S Ltd sold goods to P Ltd for $\backslash (\backslash$$ $2\mathrm{.}7\backslash )$ million at a mark$-$t$$p of $\backslash (50\backslash \%\backslash ).$ P Ltd had a third of the goods still in inventory at $30$ September $2022.$ There were no intra$-$group receivables and payables at $30$ September $2022.$

$7.$ The investments in equity instruments $($other than those in S Ltd and A Ltd$)$ have a fair value of $\backslash (\backslash$$ $9\backslash )$ million at $30$ September $2022.$

$8.$ It is group policy to fair value non$-$controlling interest at the date of acquisition only when positive goodwill exists. Negative goodwill is expected to arise on the effective equity share which P Ltd acquired in SS Ltd$.9.$ The summarised draft statements of financial position of P Ltd$,$ S Ltd and A Ltd at $30$ September $2022$ are given below:

Required:

Prepare the consolidated statement of financial position as at $30$ September $2022$ for the P Group.