Hong Kong Ferry (Holdings) Company Limited Annual Report 2013
Notes to the Accounts (Continued)
22 INCOME TAX IN THE CONSOLIDATED BALANCE SHEET (Continued)
(c) Deferred tax assets not recognised:
In accordance with the accounting policy set out in note 1(p), the Group has not recognised the following
deferred tax assets in respect of deductible temporary differences and cumulative tax losses as it is not probable
that future taxable profits against which the deductible temporary differences and tax losses can be utilised will
be available in the relevant tax jurisdiction and entity. The tax losses do not expire under current tax legislation.
(i) Excess of tax written down values
2013
Deductible
temporary
differences/
tax losses
HK$'000
Deductible
2012
Deferred
tax assets
HK$'000
temporary
differences/
Deferred
tax losses
HK$'000
tax assets
HK$'000
over accounting carrying values
of certain fixed assets
726
120
1,523
251
(ii) Tax losses
77,966
12,864
70,307
11,601
78,692
12,984
71,830
11,852
103
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