(e) Depreciation of fixed assets
Fixed assets are capitalised in the balance sheet. Depreciation is provided so as to write off the cost of these assets over their estimated lives of four years.
(2) INVESTMENTS
Investments are held for long term and are stated at cost. Provision against cost is made only where there has been a permanent diminution in value.
1995 1994 HK$ HK$ Unlisted unit trust investments, at cost 530,150 530,150 Value at 31 December 381,376 440,426(3) APPROVAL OF ACCOUNTS
The accounts on pages 3 to 6 were approved by the Honorary Treasurer and the President on 29 March 1996.
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