Group consolidation questions

Hi there (and thanks in advance for your help). Couple of questions if I may:

– Parent (P) has a (book) cost of investment of £10,000 in subsidiary S and has never accounted for Goodwill on consolidation in Group accounts as P established the Group on Day 1. Some years later along comes investor I, investing £50,000 for 25% of the share capital of S. For P consol, does this trigger a requirement for a Goodwill calculation, or can the NCI simply be “measured” at £50,000 fair value and on we go? i.e. in entity S accounts: DR Cash £50,000/CR Share cap/Share Premium £50,000 and on consolidation, we have additional cash at £50,000 as controlled by the Group and corresponding NCI at £50,000? Does this not distort the value of NCI in the Group accounts, if I has paid under or over the real fair value of the subsidiary?

– Second question relates to profit attribution for the same group post acquisition, if £1m cumulative dividend from S is committed to one class of share entirely owned by P, before any other dividend can be paid to P and I in proportion?