Reference no: EM133150849

Question - Yak Plc acquired 75% of the issued share capital in Zebu Ltd on 1 April 20X0 for £1,200,000.  At that date Zebu Ltd had issued share capital of £800,000 and retained earnings of £220,000.

Extracts from the statements of financial position for the two companies one year later at 31 March 20X1 are as follows:

	Yak Plc	Zebu Ltd
	£000	£000
Assets
Investment in Zebu Ltd	1,200
Non-current assets	820	1,100
Current assets	230	350
Total assets	2,250	1,450
Equity and liabilities
Equity
Share capital (£1 ordinary shares)	1,200	800
Retained earnings	550	400
Total equity	1,750	1,200
Non-current liabilities	130	80
Current liabilities	370	170
Total liabilities	500	250
Total equity and liabilities	2,250	1,450

Additional data

The fair value of the non-current assets of Zebu Ltd at 1 April 2010 was £900,000; the carrying amount at that time was £740,000. This revaluation has not been recorded in the books of Zebu Ltd.

Yak Plc has decided non-controlling interest will be valued at their proportionate share of net assets.

Calculate the non-controlling interest to be included in the consolidated statement of financial position as at 31 March 20X1.