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Question - You are preparing a consolidated statement of cash flows using the indirect method for Pulsox Group plc for the year ended 31 March 2021. You note that during the financial year to 31 March 2021, Pulsox acquired 80% of CFM Ltd for £125m. The acquisition was settled in cash. At acquisition, the non-controlling interest of CFM Ltd had a fair value of £38m. The following information about CFM Ltd was also made available:
Property plant and equipment: £20m
Trade receivables: £3m
Trade payables: £2mThe closing balance of Pulsox's goodwill account for the year was £78m, and there was no goodwill recorded at the beginning of the financial year. What amount of impairment was charged to the cash flow statement with respect to this transaction? (Choose the closest answer to your calculations).
A. £64m
B. £106m
C. £78m
D. None of the above: impairment is a non-cash item
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