Question Tag: Consolidated Statement of Financial Position

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  • 20 Marks

FR – Mar 2023 – L2 – Q1 – Group Financial Statements and Consolidation

Prepare the consolidated statement of financial position for Panin Group as of 31 December 2021, considering various acquisitions and intercompany transactions.

Below are the financial statements of Panin, Kakra, and Tawia.

Additional information:

  1. On 1 January 2021, Panin acquired 27 million equity shares in Kakra, transferring a parcel of land with a carrying value of GH¢90 million and fair value of GH¢96 million. The balances on Kakra’s retained earnings and revaluation reserves at this date were GH¢72 million and GH¢5.5 million respectively.
  2. On 1 January 2021, Kakra’s internally developed brand had a fair value of GH¢11 million. The brand has an indefinite useful life, but at year-end its value-in-use was assessed at GH¢8 million.
  3. On 1 July 2021, Panin also acquired 5 million equity shares in Tawia for GH¢32 million. Tawia earned post-acquisition profit of GH¢10 million after tax and revaluation gains of GH¢500,000.
  4. In 2021, Kakra made intercompany sales to Panin for GH¢7.8 million, with a profit of 25% on cost, and GH¢1.2 million of these goods were in Panin’s inventory as at 31 December 2021. Kakra also sold to Tawia, and all goods remained in Tawia’s inventory.
  5. Dividends payable were declared by Kakra and Tawia, but Panin has not yet taken credit for its share.
  6. On 1 January 2021, Panin sold machines to Kakra for GH¢8 million, with a carrying value of GH¢6 million, depreciating them at 20% per annum.
  7. Goodwill should be impaired by 10%.
  8. Non-controlling interest should be valued at their proportionate share of fair value of the subsidiary’s identifiable net assets.

Required:

Prepare a consolidated statement of financial position for Panin Group as at 31 December 2021.

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  • 20 Marks

FR – Mar 2023 – L2 – Q1 – Group Financial Statements and Consolidation

Prepare the consolidated statement of financial position for Panin Group as of 31 December 2021, considering various acquisitions and intercompany transactions.

Below are the financial statements of Panin, Kakra, and Tawia.

Additional information:

  1. On 1 January 2021, Panin acquired 27 million equity shares in Kakra, transferring a parcel of land with a carrying value of GH¢90 million and fair value of GH¢96 million. The balances on Kakra’s retained earnings and revaluation reserves at this date were GH¢72 million and GH¢5.5 million respectively.
  2. On 1 January 2021, Kakra’s internally developed brand had a fair value of GH¢11 million. The brand has an indefinite useful life, but at year-end its value-in-use was assessed at GH¢8 million.
  3. On 1 July 2021, Panin also acquired 5 million equity shares in Tawia for GH¢32 million. Tawia earned post-acquisition profit of GH¢10 million after tax and revaluation gains of GH¢500,000.
  4. In 2021, Kakra made intercompany sales to Panin for GH¢7.8 million, with a profit of 25% on cost, and GH¢1.2 million of these goods were in Panin’s inventory as at 31 December 2021. Kakra also sold to Tawia, and all goods remained in Tawia’s inventory.
  5. Dividends payable were declared by Kakra and Tawia, but Panin has not yet taken credit for its share.
  6. On 1 January 2021, Panin sold machines to Kakra for GH¢8 million, with a carrying value of GH¢6 million, depreciating them at 20% per annum.
  7. Goodwill should be impaired by 10%.
  8. Non-controlling interest should be valued at their proportionate share of fair value of the subsidiary’s identifiable net assets.

Required:

Prepare a consolidated statement of financial position for Panin Group as at 31 December 2021.

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  • 20 Marks

CR – Nov 2021 – L3 – Q1 – Consolidated Financial Statements

Prepare consolidated financial statements for Rafco Group including an income statement and a statement of financial position as of December 31, 2020, incorporating intragroup transactions, intergroup sales, and impairment adjustments.

On 1 January 2016, Rafco Ltd acquired 4,500,000 GH¢1 ordinary shares of Namco Ltd for GH¢12,000,000. The balance on Namco Ltd retained earnings as at this date was GH¢2,350,000. On 1 January 2018, Namco Ltd acquired 2,560,000 GH¢1 ordinary share of Tedco Ltd for GH¢6,000,000 when Tedco Ltd retained earnings as at that date was GH¢1,600,000.

The Financial Statements of Rafco Ltd, Namco Ltd, and Tedco Ltd for the year ended 31 December 2020 are as follows:

Additional Information:

  1. It is the group’s policy to value the non-controlling interest at fair value at the date of acquisition. The fair value of the non-controlling interest in Namco Ltd on 1 January 2016 was GH¢800,000. The fair value of the non-controlling interest in Tedco Ltd on 1 January 2018 was GH¢1,440,000.
  2. In 2020, Tedco Ltd made intragroup sales to Namco Ltd for GH¢768,000, making a profit of 25% on cost, and GH¢120,000 of these goods were in inventory as at 31 December 2020.
  3. Namco Ltd also made intragroup sales to Rafco Ltd for GH¢416,000, making a profit of 33 1/3% on cost, and GH¢96,000 of these goods were in inventory as at 31 December 2020.
  4. On 1 January 2020, Rafco Ltd sold a group of machines to Namco Ltd at their agreed fair value of GH¢3 million. The carrying amount of the machines was GH¢2 million. The estimated remaining useful life of the machines at the date of the sale was four years.
  5. An impairment test at 31 December 2020 on the consolidated goodwill of Namco Ltd and Tedco Ltd concluded that it should be written down by GH¢150,000 and GH¢100,000, respectively. No other assets were impaired.

Required: Prepare for the Rafco Group a Consolidated Income Statement for the year ended 31 December 2020 and a Consolidated Statement of Financial Position as at that date.

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  • 20 Marks

CR – Nov 2021 – L3 – Q1 – Consolidated Financial Statements

Prepare consolidated financial statements for Rafco Group including an income statement and a statement of financial position as of December 31, 2020, incorporating intragroup transactions, intergroup sales, and impairment adjustments.

On 1 January 2016, Rafco Ltd acquired 4,500,000 GH¢1 ordinary shares of Namco Ltd for GH¢12,000,000. The balance on Namco Ltd retained earnings as at this date was GH¢2,350,000. On 1 January 2018, Namco Ltd acquired 2,560,000 GH¢1 ordinary share of Tedco Ltd for GH¢6,000,000 when Tedco Ltd retained earnings as at that date was GH¢1,600,000.

The Financial Statements of Rafco Ltd, Namco Ltd, and Tedco Ltd for the year ended 31 December 2020 are as follows:

Additional Information:

  1. It is the group’s policy to value the non-controlling interest at fair value at the date of acquisition. The fair value of the non-controlling interest in Namco Ltd on 1 January 2016 was GH¢800,000. The fair value of the non-controlling interest in Tedco Ltd on 1 January 2018 was GH¢1,440,000.
  2. In 2020, Tedco Ltd made intragroup sales to Namco Ltd for GH¢768,000, making a profit of 25% on cost, and GH¢120,000 of these goods were in inventory as at 31 December 2020.
  3. Namco Ltd also made intragroup sales to Rafco Ltd for GH¢416,000, making a profit of 33 1/3% on cost, and GH¢96,000 of these goods were in inventory as at 31 December 2020.
  4. On 1 January 2020, Rafco Ltd sold a group of machines to Namco Ltd at their agreed fair value of GH¢3 million. The carrying amount of the machines was GH¢2 million. The estimated remaining useful life of the machines at the date of the sale was four years.
  5. An impairment test at 31 December 2020 on the consolidated goodwill of Namco Ltd and Tedco Ltd concluded that it should be written down by GH¢150,000 and GH¢100,000, respectively. No other assets were impaired.

Required: Prepare for the Rafco Group a Consolidated Income Statement for the year ended 31 December 2020 and a Consolidated Statement of Financial Position as at that date.

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  • 20 Marks

CR – Nov 2019 – L3 – Q1 – Consolidated Financial Statements

Prepare the consolidated statement of financial position for Herd Ltd and its subsidiaries as of 31 March 2019.

The following statements of financial position are as at 31 March 2019:

Assets Herd Ltd (GH¢m) Swarm Ltd (GH¢m) Army Ltd (GH¢m)
Tangible non-current assets 1,280 440 280
Investment in Swarm Ltd 400 – –
Investment in Army Ltd 60 – –
Current assets 544 190 130
Total assets 2,284 630 410
Equity and liabilities Herd Ltd (GH¢m) Swarm Ltd (GH¢m) Army Ltd (GH¢m)
Stated capital 950 260 230
Revaluation reserve 90 – –
Retained earnings 390 210 94
Total equity 1,430 470 324
Non-current liabilities 640 30 16
Current liabilities 214 130 70
Total equity and liabilities 2,284 630 410

Herd Ltd acquired the following shareholdings in Swarm Ltd and Army Ltd:

Company Date of Acquisition Holding Acquired Fair Value of Net Assets (GH¢m) Purchase Consideration (GH¢m)
Swarm Ltd 1 April 2016 10% 325 30
1 April 2018 70% 460 370
Army Ltd 1 April 2018 25% 200 60

You are provided with the following additional information relevant to the consolidation:

  • The carrying value of Swarm Ltd’s net assets at 1 April 2016 was equal to its fair value (GH¢325m).
  • The fair value of the initial 10% investment in Swarm Ltd at 31 March 2018 was GH¢40m.
  • Herd Ltd uses the full fair value method for acquisition accounting. The non-controlling interests in Swarm Ltd at 1 April 2018 were valued at GH¢95m.
  • The fair value of Swarm Ltd’s land was GH¢25m above its carrying value as of 1 April 2018. No change in this value occurred subsequently.
  • Army Ltd’s land had a fair value excess of GH¢16m over its carrying value as of 1 April 2017.
  • Goodwill from the acquisition of Swarm Ltd has been impaired by GH¢15m as of 31 March 2019. No impairment has occurred for the Army Ltd investment.
  • Herd Ltd formed a defined benefit pension scheme and contributed GH¢250m to it, included in receivables as of 31 March 2019. The present value of the pension obligations is GH¢317m, and the fair value of plan assets is GH¢302m.

Required: Prepare the consolidated statement of financial position of the Herd Ltd group as at 31 March 2019.

 

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  • 20 Marks

CR – Nov 2019 – L3 – Q1 – Consolidated Financial Statements

Prepare the consolidated statement of financial position for Herd Ltd and its subsidiaries as of 31 March 2019.

The following statements of financial position are as at 31 March 2019:

Assets Herd Ltd (GH¢m) Swarm Ltd (GH¢m) Army Ltd (GH¢m)
Tangible non-current assets 1,280 440 280
Investment in Swarm Ltd 400 – –
Investment in Army Ltd 60 – –
Current assets 544 190 130
Total assets 2,284 630 410
Equity and liabilities Herd Ltd (GH¢m) Swarm Ltd (GH¢m) Army Ltd (GH¢m)
Stated capital 950 260 230
Revaluation reserve 90 – –
Retained earnings 390 210 94
Total equity 1,430 470 324
Non-current liabilities 640 30 16
Current liabilities 214 130 70
Total equity and liabilities 2,284 630 410

Herd Ltd acquired the following shareholdings in Swarm Ltd and Army Ltd:

Company Date of Acquisition Holding Acquired Fair Value of Net Assets (GH¢m) Purchase Consideration (GH¢m)
Swarm Ltd 1 April 2016 10% 325 30
1 April 2018 70% 460 370
Army Ltd 1 April 2018 25% 200 60

You are provided with the following additional information relevant to the consolidation:

  • The carrying value of Swarm Ltd’s net assets at 1 April 2016 was equal to its fair value (GH¢325m).
  • The fair value of the initial 10% investment in Swarm Ltd at 31 March 2018 was GH¢40m.
  • Herd Ltd uses the full fair value method for acquisition accounting. The non-controlling interests in Swarm Ltd at 1 April 2018 were valued at GH¢95m.
  • The fair value of Swarm Ltd’s land was GH¢25m above its carrying value as of 1 April 2018. No change in this value occurred subsequently.
  • Army Ltd’s land had a fair value excess of GH¢16m over its carrying value as of 1 April 2017.
  • Goodwill from the acquisition of Swarm Ltd has been impaired by GH¢15m as of 31 March 2019. No impairment has occurred for the Army Ltd investment.
  • Herd Ltd formed a defined benefit pension scheme and contributed GH¢250m to it, included in receivables as of 31 March 2019. The present value of the pension obligations is GH¢317m, and the fair value of plan assets is GH¢302m.

Required: Prepare the consolidated statement of financial position of the Herd Ltd group as at 31 March 2019.

 

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  • 20 Marks

FR – Mar 2023 – L2 – Q1 – Group Financial Statements and Consolidation

Prepare the consolidated statement of financial position for Panin Group as of 31 December 2021, considering various acquisitions and intercompany transactions.

Below are the financial statements of Panin, Kakra, and Tawia.

Additional information:

  1. On 1 January 2021, Panin acquired 27 million equity shares in Kakra, transferring a parcel of land with a carrying value of GH¢90 million and fair value of GH¢96 million. The balances on Kakra’s retained earnings and revaluation reserves at this date were GH¢72 million and GH¢5.5 million respectively.
  2. On 1 January 2021, Kakra’s internally developed brand had a fair value of GH¢11 million. The brand has an indefinite useful life, but at year-end its value-in-use was assessed at GH¢8 million.
  3. On 1 July 2021, Panin also acquired 5 million equity shares in Tawia for GH¢32 million. Tawia earned post-acquisition profit of GH¢10 million after tax and revaluation gains of GH¢500,000.
  4. In 2021, Kakra made intercompany sales to Panin for GH¢7.8 million, with a profit of 25% on cost, and GH¢1.2 million of these goods were in Panin’s inventory as at 31 December 2021. Kakra also sold to Tawia, and all goods remained in Tawia’s inventory.
  5. Dividends payable were declared by Kakra and Tawia, but Panin has not yet taken credit for its share.
  6. On 1 January 2021, Panin sold machines to Kakra for GH¢8 million, with a carrying value of GH¢6 million, depreciating them at 20% per annum.
  7. Goodwill should be impaired by 10%.
  8. Non-controlling interest should be valued at their proportionate share of fair value of the subsidiary’s identifiable net assets.

Required:

Prepare a consolidated statement of financial position for Panin Group as at 31 December 2021.

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  • 20 Marks

FR – Mar 2023 – L2 – Q1 – Group Financial Statements and Consolidation

Prepare the consolidated statement of financial position for Panin Group as of 31 December 2021, considering various acquisitions and intercompany transactions.

Below are the financial statements of Panin, Kakra, and Tawia.

Additional information:

  1. On 1 January 2021, Panin acquired 27 million equity shares in Kakra, transferring a parcel of land with a carrying value of GH¢90 million and fair value of GH¢96 million. The balances on Kakra’s retained earnings and revaluation reserves at this date were GH¢72 million and GH¢5.5 million respectively.
  2. On 1 January 2021, Kakra’s internally developed brand had a fair value of GH¢11 million. The brand has an indefinite useful life, but at year-end its value-in-use was assessed at GH¢8 million.
  3. On 1 July 2021, Panin also acquired 5 million equity shares in Tawia for GH¢32 million. Tawia earned post-acquisition profit of GH¢10 million after tax and revaluation gains of GH¢500,000.
  4. In 2021, Kakra made intercompany sales to Panin for GH¢7.8 million, with a profit of 25% on cost, and GH¢1.2 million of these goods were in Panin’s inventory as at 31 December 2021. Kakra also sold to Tawia, and all goods remained in Tawia’s inventory.
  5. Dividends payable were declared by Kakra and Tawia, but Panin has not yet taken credit for its share.
  6. On 1 January 2021, Panin sold machines to Kakra for GH¢8 million, with a carrying value of GH¢6 million, depreciating them at 20% per annum.
  7. Goodwill should be impaired by 10%.
  8. Non-controlling interest should be valued at their proportionate share of fair value of the subsidiary’s identifiable net assets.

Required:

Prepare a consolidated statement of financial position for Panin Group as at 31 December 2021.

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  • 20 Marks

CR – Nov 2021 – L3 – Q1 – Consolidated Financial Statements

Prepare consolidated financial statements for Rafco Group including an income statement and a statement of financial position as of December 31, 2020, incorporating intragroup transactions, intergroup sales, and impairment adjustments.

On 1 January 2016, Rafco Ltd acquired 4,500,000 GH¢1 ordinary shares of Namco Ltd for GH¢12,000,000. The balance on Namco Ltd retained earnings as at this date was GH¢2,350,000. On 1 January 2018, Namco Ltd acquired 2,560,000 GH¢1 ordinary share of Tedco Ltd for GH¢6,000,000 when Tedco Ltd retained earnings as at that date was GH¢1,600,000.

The Financial Statements of Rafco Ltd, Namco Ltd, and Tedco Ltd for the year ended 31 December 2020 are as follows:

Additional Information:

  1. It is the group’s policy to value the non-controlling interest at fair value at the date of acquisition. The fair value of the non-controlling interest in Namco Ltd on 1 January 2016 was GH¢800,000. The fair value of the non-controlling interest in Tedco Ltd on 1 January 2018 was GH¢1,440,000.
  2. In 2020, Tedco Ltd made intragroup sales to Namco Ltd for GH¢768,000, making a profit of 25% on cost, and GH¢120,000 of these goods were in inventory as at 31 December 2020.
  3. Namco Ltd also made intragroup sales to Rafco Ltd for GH¢416,000, making a profit of 33 1/3% on cost, and GH¢96,000 of these goods were in inventory as at 31 December 2020.
  4. On 1 January 2020, Rafco Ltd sold a group of machines to Namco Ltd at their agreed fair value of GH¢3 million. The carrying amount of the machines was GH¢2 million. The estimated remaining useful life of the machines at the date of the sale was four years.
  5. An impairment test at 31 December 2020 on the consolidated goodwill of Namco Ltd and Tedco Ltd concluded that it should be written down by GH¢150,000 and GH¢100,000, respectively. No other assets were impaired.

Required: Prepare for the Rafco Group a Consolidated Income Statement for the year ended 31 December 2020 and a Consolidated Statement of Financial Position as at that date.

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  • 20 Marks

CR – Nov 2021 – L3 – Q1 – Consolidated Financial Statements

Prepare consolidated financial statements for Rafco Group including an income statement and a statement of financial position as of December 31, 2020, incorporating intragroup transactions, intergroup sales, and impairment adjustments.

On 1 January 2016, Rafco Ltd acquired 4,500,000 GH¢1 ordinary shares of Namco Ltd for GH¢12,000,000. The balance on Namco Ltd retained earnings as at this date was GH¢2,350,000. On 1 January 2018, Namco Ltd acquired 2,560,000 GH¢1 ordinary share of Tedco Ltd for GH¢6,000,000 when Tedco Ltd retained earnings as at that date was GH¢1,600,000.

The Financial Statements of Rafco Ltd, Namco Ltd, and Tedco Ltd for the year ended 31 December 2020 are as follows:

Additional Information:

  1. It is the group’s policy to value the non-controlling interest at fair value at the date of acquisition. The fair value of the non-controlling interest in Namco Ltd on 1 January 2016 was GH¢800,000. The fair value of the non-controlling interest in Tedco Ltd on 1 January 2018 was GH¢1,440,000.
  2. In 2020, Tedco Ltd made intragroup sales to Namco Ltd for GH¢768,000, making a profit of 25% on cost, and GH¢120,000 of these goods were in inventory as at 31 December 2020.
  3. Namco Ltd also made intragroup sales to Rafco Ltd for GH¢416,000, making a profit of 33 1/3% on cost, and GH¢96,000 of these goods were in inventory as at 31 December 2020.
  4. On 1 January 2020, Rafco Ltd sold a group of machines to Namco Ltd at their agreed fair value of GH¢3 million. The carrying amount of the machines was GH¢2 million. The estimated remaining useful life of the machines at the date of the sale was four years.
  5. An impairment test at 31 December 2020 on the consolidated goodwill of Namco Ltd and Tedco Ltd concluded that it should be written down by GH¢150,000 and GH¢100,000, respectively. No other assets were impaired.

Required: Prepare for the Rafco Group a Consolidated Income Statement for the year ended 31 December 2020 and a Consolidated Statement of Financial Position as at that date.

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  • 20 Marks

CR – Nov 2019 – L3 – Q1 – Consolidated Financial Statements

Prepare the consolidated statement of financial position for Herd Ltd and its subsidiaries as of 31 March 2019.

The following statements of financial position are as at 31 March 2019:

Assets Herd Ltd (GH¢m) Swarm Ltd (GH¢m) Army Ltd (GH¢m)
Tangible non-current assets 1,280 440 280
Investment in Swarm Ltd 400 – –
Investment in Army Ltd 60 – –
Current assets 544 190 130
Total assets 2,284 630 410
Equity and liabilities Herd Ltd (GH¢m) Swarm Ltd (GH¢m) Army Ltd (GH¢m)
Stated capital 950 260 230
Revaluation reserve 90 – –
Retained earnings 390 210 94
Total equity 1,430 470 324
Non-current liabilities 640 30 16
Current liabilities 214 130 70
Total equity and liabilities 2,284 630 410

Herd Ltd acquired the following shareholdings in Swarm Ltd and Army Ltd:

Company Date of Acquisition Holding Acquired Fair Value of Net Assets (GH¢m) Purchase Consideration (GH¢m)
Swarm Ltd 1 April 2016 10% 325 30
1 April 2018 70% 460 370
Army Ltd 1 April 2018 25% 200 60

You are provided with the following additional information relevant to the consolidation:

  • The carrying value of Swarm Ltd’s net assets at 1 April 2016 was equal to its fair value (GH¢325m).
  • The fair value of the initial 10% investment in Swarm Ltd at 31 March 2018 was GH¢40m.
  • Herd Ltd uses the full fair value method for acquisition accounting. The non-controlling interests in Swarm Ltd at 1 April 2018 were valued at GH¢95m.
  • The fair value of Swarm Ltd’s land was GH¢25m above its carrying value as of 1 April 2018. No change in this value occurred subsequently.
  • Army Ltd’s land had a fair value excess of GH¢16m over its carrying value as of 1 April 2017.
  • Goodwill from the acquisition of Swarm Ltd has been impaired by GH¢15m as of 31 March 2019. No impairment has occurred for the Army Ltd investment.
  • Herd Ltd formed a defined benefit pension scheme and contributed GH¢250m to it, included in receivables as of 31 March 2019. The present value of the pension obligations is GH¢317m, and the fair value of plan assets is GH¢302m.

Required: Prepare the consolidated statement of financial position of the Herd Ltd group as at 31 March 2019.

 

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  • 20 Marks

CR – Nov 2019 – L3 – Q1 – Consolidated Financial Statements

Prepare the consolidated statement of financial position for Herd Ltd and its subsidiaries as of 31 March 2019.

The following statements of financial position are as at 31 March 2019:

Assets Herd Ltd (GH¢m) Swarm Ltd (GH¢m) Army Ltd (GH¢m)
Tangible non-current assets 1,280 440 280
Investment in Swarm Ltd 400 – –
Investment in Army Ltd 60 – –
Current assets 544 190 130
Total assets 2,284 630 410
Equity and liabilities Herd Ltd (GH¢m) Swarm Ltd (GH¢m) Army Ltd (GH¢m)
Stated capital 950 260 230
Revaluation reserve 90 – –
Retained earnings 390 210 94
Total equity 1,430 470 324
Non-current liabilities 640 30 16
Current liabilities 214 130 70
Total equity and liabilities 2,284 630 410

Herd Ltd acquired the following shareholdings in Swarm Ltd and Army Ltd:

Company Date of Acquisition Holding Acquired Fair Value of Net Assets (GH¢m) Purchase Consideration (GH¢m)
Swarm Ltd 1 April 2016 10% 325 30
1 April 2018 70% 460 370
Army Ltd 1 April 2018 25% 200 60

You are provided with the following additional information relevant to the consolidation:

  • The carrying value of Swarm Ltd’s net assets at 1 April 2016 was equal to its fair value (GH¢325m).
  • The fair value of the initial 10% investment in Swarm Ltd at 31 March 2018 was GH¢40m.
  • Herd Ltd uses the full fair value method for acquisition accounting. The non-controlling interests in Swarm Ltd at 1 April 2018 were valued at GH¢95m.
  • The fair value of Swarm Ltd’s land was GH¢25m above its carrying value as of 1 April 2018. No change in this value occurred subsequently.
  • Army Ltd’s land had a fair value excess of GH¢16m over its carrying value as of 1 April 2017.
  • Goodwill from the acquisition of Swarm Ltd has been impaired by GH¢15m as of 31 March 2019. No impairment has occurred for the Army Ltd investment.
  • Herd Ltd formed a defined benefit pension scheme and contributed GH¢250m to it, included in receivables as of 31 March 2019. The present value of the pension obligations is GH¢317m, and the fair value of plan assets is GH¢302m.

Required: Prepare the consolidated statement of financial position of the Herd Ltd group as at 31 March 2019.

 

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