3 PROFIT BEFORE TAXATION
NOTES ON THE ACCOUNTS
Profit before taxation is arrived at after charging:—
1987
HK$'000
1986 HK$'000
Depreciation
159.560
123,306
Auditors' remuneration
440
377
Interest payable on:
Bank loans, overdrafts and loans repayable
within 5 years
39,518
Balance of premium on land
338
27,726 409
4 DIRECTORS' REMUNERATION
Directors' remuneration disclosed pursuant to Section 161 of the Companies Ordinance is as follows:
Services as Directors
Other emoluments
5 TAXATION
1987
HK$'000
1986 HK$'000
982
1,038
656
615
1,638
1,653
1987
1986
HK$'000
HK$'000
a Taxation in the profit and loss account represents: Provision for Hong Kong profits tax at 18%
(1986-18.5%) on the profits of the year Overprovision in respect of prior years
14,300
5,100
(822)
13,478
5,100
b Taxation in the balance sheet represents:-
Provision for Hong Kong profits tax for the year
14,300
5,100
Provisional profits tax paid
(3,135)
(3,953)
11,165
1,147
Balance of profits tax provision relating to prior years Less: Tax Reserve Certificate purchased under order
6,892
6,910
of the Commissioner of Inland Revenue
(6,892)
(6,892)
11,165
1,165
38