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Harpy plc. (Harpy) is an engineering company. It purchased 75% of the shares in Sura Limited (Sura), a company with hardware shops throughout Ireland, on 1 April 2018, for 405 million. The Financial Statements as at 31 March 2019 are as follows:

Harpy 31 March 2019

Sura 31 March 2019

	million	million	million	million
ASSETS
Non Current Assets (note (i)		620		340
Investment in Sura		405		Nil
		1025		340
Current Assets
Inventory (note iii)	96		22
Accounts Receivables (note iv)	84		44
Bank	Nil	180	4	70
		1205		410
EQUITY AND LIABILITIES
Equity attributable to Equity holders of the Parent
Equity Shares 1 cent each		375		200
Share Premium		150		Nil
Retained Earnings		294		140
		819		340
Current Liabilities:
Accounts Payable (note iv)	130		27
Taxation	45		23
Overdraft	25	200	nil	50
Non Current Liabilities:
10% Loan Note		186		20
		1205		410

The following information is relevant:

(i) At the date of acquisition the fair values of Suras net assets were approximately equal to their carrying amounts with the exception of its properties. These properties had a fair value of 40 million in excess of their carrying amounts. The properties had a remaining useful life of 20 years from 1 April 2018.The fair values have not been reflected in Suras SOFP.

(ii) Suras equity section of its financial statements at the date of acquisition was as follows:

Ordinary Share Capital	200 million
Retained Earnings	120 million
Total	320 million

(ii) Harpy values NCI at fair value. The market price of Suras shares just before the date of acquisition was 2.40 share.

(iii) Sura sold Harpy goods for 15 million in the post acquisition period. 6 million of these goods are included in the Inventory of Harpy at 31 March 2019. The mark up on the goods was 33% .

(iv) Suras accounts payable account (in the records of Harpy) of 7 million does not agree with Harpys accounts receivable account (in the records of Sura) due to cash in transit of 4 million paid by Harpy.

(v) Goodwill of 27 million is impaired in the first year.

Required:

Prepare the consolidated statement of financial position of Harpy plc as at 31 March 2019.

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