Notes on the Accounts cont'd
4. Directors' Remuneration
Directors' remuneration disclosed pursuant to section 161 of the Companies Ordinance is as follows:-
Group
1984
1983
As directors
As executives
983
770
1,904
1,543
2,887
2,313
5.
Taxation
(a) Taxation in the profit and loss account represents:-
Group
1984
1983
Provision for Hong Kong profits tax at
18.5% (1983 - 16.5%) on the estimated assessable profits of the year Overprovision in respect of previous year
1,800
1,432
(116)
(2)
1,684
1,430
(b) The liability to taxation represents:-
Group
1984
1983
Estimated liability to profits tax for the year
Provisional profits tax paid
1,490
1,432
(230)
1,490
1,202
Balance of profits tax provision relating to previous year
631
55
2,121
1,257
No provision for taxation is required in the accounts of the parent company due to the existence of agreed carried forward losses from previous years.
6.
Group Profit after Taxation
The Group profit after taxation includes an amount of $41,141,000 (1983 - $29,358,000) which has been dealt with in the accounts of the Company.
7.
Prior Year Adjustments
8.
Company
Group
1984
1983
1984
1983
Adjustment of exchange difference
previously capitalised
(2,032)
(2,032)
Adjustment of share of the post
acquisition (losses)/profits of associates
(3,656)
1,379
Adjustment of unrealised profit on sale of
fixed assets by a subsidiary to an
associated company
(2,032)
(84)
(5,772)
1,379
Earnings per Share
The calculation of earnings per share is based on earnings of $41,157,000 (1983 $24,584,000) and 138,628,290 ordinary shares in issue throughout both years.