Notes on the Scheme of Control Statement
5.
The Permitted Return
Leasehold
Buses & other
land Buildings HK$'m
HK$'m
motor vehicles
Others
Total
HK$'m
HK$'m
HK$'m
Cost or valuation :
At 1 January 1994
141.0
648.5
2,695.9
244.7
3,730.1
Additions
16.0
408.9
26.2
451.1
Disposals
(8.1)
(43.4)
(24.4)
(1.0)
(76.9)
At 31 December 1994
132.9
621.1
3,080.4
269.9
4,104.3
Aggregate depreciation :
At 1 January 1994
26.7
200.9
1,325.0
190.3
1,742.9
Charge for the year
20.0
178.7
23.9
222.6
Written back on disposals
(6.3)
(20.0)
(23.1)
(0.7)
(50.1)
At 31 December 1994
20.4
200.9
1,480.6
213.5
1,915.4
Net book value
At 31 December 1994
112.5
420.2
1,599.8
56.4
2,188.9
Add:
Amortisation on land Buses under construction
Less:
Items not ranking for
20.4
287.2
20.4 287.2
Control Scheme purpose
0.6
0.6
Adjusted net book value of
fixed assets for Control
Scheme purpose
132.9
420.2
1,886.4
56.4
2,495.9
Add:
Other assets ranking as fixed assets under Control Scheme:
Deposits paid in respect of buses on order
Spare parts and stores
Insurance deposits with the Government
2.8 231.3
2.0
Net fixed assets for Control Scheme purpose at 31 December 1994
2,732.0
Net fixed assets for Control Scheme purpose at 31 December 1993
2,433.7
Average net fixed assets for Control Scheme purpose
for the year ended 31 December 1994
2,582.9
Permitted Return for 1994 at 16% on average net fixed assets
for Control Scheme purpose
Less: Concessions for senior citizens (Note)
413.3
12.0
Permitted Return for the year ended 31 December 1994
(net of concessions for senior citizens)
Note :-
401.3
As a result of the implementation of concessionary fares to senior citizens in 1993, a sum of HK$12 million has been deducted from the Permitted Return for the year.
The Kowloon Motor Bus Company (1933) Limited
65