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On 01 April 2024, Stratton Limited. acquires 60% of the equity of Madden Limited...
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On 01 April 2024, Stratton Limited. acquires 60% of the equity of Madden Limited for R2 400 000. On 01 January 2024, the fair value of Madden Limited’s net assets was R3 200 000. The remaining 40% is held by external shareholders, representing the non-controlling Interest (NCI), which is measured at fair value.
Madden Limited. reported a profit for the year of R900 000 for the year ended 31 December 2024, which was earned evenly throughout the year.
Additional Information
a) On 31 December 2024, Madden Limited paid an ordinary dividend of R100,000 to its shareholders.
b) The financial year end for the group is 31 December 2024.