Prepare the group consolidated statement of financial position of Lanark in a form suitable for publication as at 31 December 2023.Prepare your statement in £ millions to 2 decimal places. please help please . The fair value of the 16% holding of Lanark in Clyde was £290 million on 1 January 2022 and£330 million at 31 December 2023. The fair value of Strath's interest in Clyde had not changedsince acquisition.(iii) On 1 July 2023 Lanark sold some property to Strath Ltd for £140 million. The property had acarrying amount in Lanark's books of £110 million at the date of sale. The estimated remaininguseful life of the property was reassessed at the date of sale as twenty years.(iv) During 2023 Strath Ltd has invoiced £90 million of sales to Lanark all at a mark-up of 25%. Onequarter of these goods were still in Lanark's inventories at the year end.(v) On 1 January 2023, Lanark issued 5,000 £1 share options to each of its 1,000 staff. The shareoptions are conditional on staff being employed by Lanark on 31 December 2025 and the shareoptions cannot be exercised unless Lanark's share price reaches £25 on 31 December 2025.Provided the share price target is met, the share options can be exercised at any time during thefollowing two years i.e., from 1 January 2026 to 31 December 2027.The unadjusted fair value of the options on 1 January 2023 was £11.20: the adjusted fair valueconsidering the share price target was £10 per share.On 1 January 2023, the directors estimated that 20% of the staff would leave and forfeit their rights tothe shares. This estimate was subsequently revised down to 15% on 31 December 2023.Lanark's £1 equity shares were quoted at £20 per share on 1 January 2023 and at £22 on 31 December2023. The directors consider there is an 80% probability that the share price target will be met on 31December 2025. The directors wish to account for the share-based payments in a separate equityreserve.(vi) Lanark acquired a piece of land used for storage purposes in 2010. The land was owner-occupied and correctly accounted for as PPE (no depreciation). The land was revalued in 2019. Thefair value as at 31 December 2023 has not yet been reflected in the financial statements.Details of the land values are as follows:Cost 1 January 2010Fair Value 1 January 2019Fair Value 31 December 2023£10 million£30 million£8 millionRequiredPrepare the group consolidated statement of financial position of Lanark in a form suitable forpublication as at 31 December 2023.Prepare your statement in £ millions to 2 decimal places. Lanark plc (Lanark), a public limited company, operates in the manufacturing sector. Lanark hasinvestments in two other companies. The draft statements of financial position as at 31 December 2023are as follows:Non-current assetsProperty, plant and equipmentInvestments in subsidiariesStrathClydeCurrent assetsTotal assetsEquity and liabilities:Share capitalRetained earningsRevaluation reserve (see note vi)Total equityNon-current liabilitiesCurrent liabilitiesTotal liabilitiesTotal equity and liabilitiesLanark£m3,8001,5103305,6401.4507,0903,9901,520205,5301,1004601,5607,090Strath£m1,3001,3202,6208403,4601,2001,0102,2108204301,2503,460Clyde£m1,100‒‒‒‒‒‒1,1003101,410continued1,0003661,3662618441,410The following information is relevant to the preparation of the group financial statements:(i) On 1 January 2022, Lanark acquired 70% of the equity interests of Strath Ltd. The purchaseconsideration comprised cash of £1,510 million. On 1 January 2022, the fair value of theidentifiable net assets acquired was £1,820 million and retained earnings of Strath were £590million. The excess in fair value is due to non-depreciable land.It is the group's policy to measure the non-controlling interest at acquisition at its proportionateshare of the fair value of the subsidiary's net assets.(ii) On 1 January 2021, Lanark acquired 16% of the equity interests of Clyde Ltd for a cashconsideration of £260 million and Strath acquired 80% of the equity interests of Clyde for a cashconsideration of £1,320 million. At 1 January 2021, the identifiable net assets of Clyde had a fairvalue of £1,050 million and retained earnings were £276 million. The excess in fair value is dueto non-depreciable land.At 1 January 2022, the identifiable net assets of Clyde had a fair value of £1,400 million, retainedearnings were £340 million. The excess in fair value is due to non-depreciable land.

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“Lanark plc Group Consolidated Statement of Financial Position” as at 31 December 2023 (£ millions)…

Required Prepare the group consolidated statement of financial position of Lanark in a form suitable for publication as at 31 December 2023.