Australia Accounting for deregistered company

[anonymousman]

We deregistered one of our group companies in the financial year just ended and I need to reflect this in the financial statements of the parent.

The COMPANY itself has minimal net assets (c$260).
The PARENT has the investment in its balance sheet at a net value of c$2,800.

Questions:
1. Should the PARENT company investment be written off in the PARENT financials only?
2. If yes to 1. above, how does this get dealt with on consolidation?
3. Should the COMPANY net assets amount be written off in the consolidated books, or is this irrelevant as all TB entries for the COMPANY are written off (therefore balancing to zero)?

Apologies if these are stupid questions, and thanks in advance for any help!

 

[kirby]

1. You need to first wind up the sub. Return any cash to Parent and clear out assets & liab to equity.

2. After 1, Parent writes off remaining investment .

Do the above pro-forma first so you can see how this will work