1974-HKRS28-16-22_Part06 — Page 20

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(0) land held on medium-term lease;

(ii) land held on short lease:

(5) land outside Hong Kong in each of the following categories—

() land held freehold;

(ii) land held on long lease;

(iii) land held on medium-term lease;

(iv) land held on short tease,

(10) If in the opinion of the directors any of the current assels bave not a valuc, on realisation in the ordinary course of the company's business, at least equal to the amount at which they are stated, the fact that the directors are of that opinion,

(11) The aggregate market value of the company's quoted investments where it dillers from the amount of the investments as stated, and the stock exchange value of any investments of which the market value 19 shown (whether separately or not) and is taken as being higher than their stock exchange value.

(12) If a sum set aside for the purpose of its being used to prevent undue fluctuations lo charges for taxation has been used during the Anancial year for another purpose, the amount thereof and the fact that it has been so used.

(13) If the amount carried forward for stock in trade or work in progress Is material for the appreciation by Its members of the company's state of affairs or of its profit or loss for the Onancial year, the manner in which that amount has been computed.

(14) The basis on which other currencies have been converted into the currency in which the balance shoot is expressed, where the amount of the assets or liabilities affected is material.

(15) The basis on which the amount, if any, set aside for Hong Kong profili: tax is computed.

(16) Except in the case of the first balance sheet laid before the company after 1st October 1975, the corresponding amounts at the end of the immediately preceding Anancial year for all items shown in the balance sheet other than any item the amount for which is shown-

(a) in pursuance of sub-paragraph (8), or

(6) as an amount the source or application of which is required

by paragraph 7 to be shown.

Profit and Loss Accoun

13. (1) There shall be shown-

(a) the amount charged to revenue by way of provision for deprecia-

tion, renewals or diminution in value of fixed assels;

(6) the amount of the interest on loans of the following kinds made

to the company (whether on the security of debentures or not)

SI

namely, bank loans, overdrafts and loans which, not being bank loans or overdrafts,—

(1) are repayable otherwise than by instalments and fall due for repayment before the expiration of the period of Give years beginning with the day next following the expiration of the financial year; or

(ii) are repayable by instalments the last of which falls dus for payment before the expiration of that period;

and the amount of the faterest on lowns of other kinds so made (whether on the security of debentures or not);

(c) the amount of the charge to revenue for taxes imposed by the Inland Revenue Ordinance and, if that amount would have been greater but for relief from double taxation, the amount which It would have been but for such relief, and the amount of the charge for taxation imposed outside Hong Kong of profils, income and (so far as charged to revenue) capital gains;

(d) the amounts respectively provided for redemption of share

capital and for redemption of loans;

(e) the amount, if material, set aside or proposed to be set aside

to, or withdrawn from, reserves;

(f) subject to sub-paragraph (2), the amount, if material set aside to provisions other than provisions for depreciation, renewals or diminution in value of assets or, as the case may be, the amount if material, withdrawn from such provisions and not applied for the purposes thereof;

(e) the amounts respectively of income from quoted investments and

income from unquoted investments;

(h) if a substantial part of the company's revenue for the Enancial year consists in rents from land and buildings, the amount thereof (after deduction of ground-rents, rates and other out-goings);

()) the amount, if material, charged to revenue in respect of xumu

payable in respect of the hire of plant and machinery;

( the aggregate amount of the dividends paid and proposed.

(2) The Financial Secretary may direct that a company shall not be obliged to show an amount set aside to provisions in accordance with sub-paragraph (1X00, if he is satisfied that that is not required in the public interest and would prejudice the company, but subject to the condition that any heading stating an amount arrived at after taking into account the amount set aside as aforesaid shall be so framed or marked as to indicate that fact,

(3) If, in the case of any assets in whose case an amount is charged to revenue by way of provision for depreciation or diminution in value, an amount is also so charged by way of provision for renewal thereof, the last-mentioned amount shall be shown separately.

(4) If the amount charged to revenue by way of provision for depreciation or diminution in value of any fixed assets (other than invest- mental has been determined otherwise than by reference to the amount