Notes on the Balance Sheet
Capital expenditure does not include the cost of the new railway terminus in Hung Hom, which was put into service on 30th November, 1975, and the land on which it stands, and no provision has been made for compensation to the Railway for surrendering the land and buildings in Tsim Sha Tsui, pending agreement on the financial aspects of the removal of the Kowloon terminus from Tsim Sha Tsui to Hung Hom with Government.
The nett value of Fixed Assets which were demolished following the removal of the Terminus to Hung Hom, such as staff quarters and signalling cabin at Blackheads etc. totalling $61,475 has been written off. Other items viz. the track and the signalling system at Tsim Sha Tsui, the nett book value of which was at 31.3.76 amounted to $625,260 and $949,170 respectively, were dismantled for reuse on other Sections of the Railway or for disposal by sale and are still shown as Fixed Assets. The market value of all Assets affected by the removal to Hung Hom will be taken into account in discussions with Government.
The estimated replacement cost included in depreciation is no longer required in respect of 11 coaches which have been sold.
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