(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.
1996 1995 HK$ HK$ Unlisted unit trust investments, at cost 530,150 530,150 Value at 31 December 258,411 381,376(3) APPROVAL OF ACCOUNTS
The accounts on pages 3 to 5 were approved by the Council on 17 February 1997.
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