Bleu plc acquired 80% of the common shares of Verte plc on 1 January 20X0 and gained control. At that date the statements of financial position of the two companies were as follows:
|
Bleu £m |
Verte £m |
|
|
ASSETS |
||
|
Non-current assets |
||
|
Property, plant and equipment |
150 |
120 |
|
Investment in Verte |
210 |
|
|
Current assets |
108 |
105 |
|
Total assets |
468 |
225 |
|
Bleu £m |
Verte £m |
|
|
EQUITY AND LIABILITIES |
||
|
Capital and reserves |
||
|
Share capital |
300 |
120 |
|
Retained earnings |
78 |
60 |
|
378 |
180 |
|
|
Current liabilities |
90 |
45 |
|
Total equity and liabilities |
468 |
225 |
Note: The fair values are the same as the book values.
Required: Prepare a consolidated statement of financial position for Bleu plc as at 1 January 20X0.
Non-controlling interests are measured using method 1.