1995 — Page 31

帳項附註 Notes on the Accounts

HKF

1 主要會計政策(續)

(d)

待發展物業

用作投資的待發展物業需按專業估值入 帳。因重估而產生的盈餘撥入其他物業重 估儲備,因重估而產生的虧損則先從過往 的重佔盈餘中扣除,餘數則計入損益表 內。此等物業在獲發入伙紙後重新列為投 資物業,而任何有關的重盈餘轉入投資 物業重估儲備。

其他待發展物業按成本(包括資本化利息) 減任何董事認為需要提撥的準備入帳。

(e)

酒店物業

按照酒店業的慣例,在結算日剩餘年期長 過二十年的酒店物業並無作出折舊準備。 本集團的方針為保持酒店物業的現有狀 況,使其價值得以保持,故並無重大折 舊。例行的維修保養費用於其發生年度內 記入損益表。此外,根據未來五年的預算 維修工程成本,其準備金將計入每年的損 益表內。

年度內,董事會將本集團有關酒店物業的 會計政策由估值基準改變為成本基準,董 事會決定採用新政策使本集團出售投資物 業組合及酒店物業的溢利及損失確認的方 法相符。由於實行了會計實務準則17《物 業、廠房及設備》,假如沒有採用以上的新 政策,出售已重估酒店物業的溢利或損失 會按酒店物業當時的帳面價值計算,而任 何相關的重估儲備會作為儲備變動,直接 轉入留存收益,而不會記入損益表。董事 會相信這項會計政策的改變將會在帳項內 更適當地反映交易事項。故此,以往記入 其他物業重估儲備的重估盈餘將於本年度 出現逆轉。

由於本集團的酒店物業毋須計算折舊,採 用新的會計政策對截至一九九五年十二月 三十一日止年度的溢利或一九九五年一月 一日的承前留存利均沒有影響。

1

Principal accounting policies (continued)

Properties held for development

(d)

(e)

Properties held for development for investment purposes are carried at professional valuation. Surpluses arising on revaluations are credited to the other property revaluation reserve; deficits arising on revaluations are firstly set off against any previous revaluation surpluses and thereafter taken to the profit and loss account. These properties are reclassified as investment properties on the granting of an occupation permit and any revaluation surplus relating thereto transferred to the

investment property revaluation reserve.

Other properties held for development are carried at

cost, including interest capitalised, less any provision considered necessary by the directors.

Hotel properties

In accordance with normal practice in the hotel industry no depreciation is provided on hotel properties held on leases with more than 20 years to run at the balance sheet date. It is the Group's policy to maintain the hote! properties in such condition that their value is not diminished by the passage of time so that any element of depreciation would be immaterial. Routine maintenance expenditure is charged to the profit and loss account in the year in which it is incurred. In addition, an annual provision based on the projected maintenance cost for the next five years under the planned maintenance scheme is charged to the profit and loss account.

During the year the directors resolved to change the Group's accounting policy for carrying hotel properties from a valuation basis to a cost basis. The directors resolved to adopt the new policy to maintain a consistent approach for profit and loss recognition on disposal of properties between the Group's investment property portfolio and hotel properties. As a result of the implementation of SSAP 17“Property, plant and equipment", had the new policy not been adopted, on disposal of revalued hotel properties the profit or loss on disposal would have been calculated with reference to the then carrying value of the hotel properties and any related revaluation reserve would have been transferred directly to retained earnings as a reserve movement and not through the profit and loss account. The directors believe that this change of policy will result in a more appropriate presentation of events and transactions in the accounts. Accordingly revaluation gains previously taken to the other property revaluation reserve are reversed this year.

As the Group's hotel properties are not subject to depreciation, adoption of the new policy has no effect on the profit for the year ended 31 December 1995 or on retained profits brought forward at 1 January 1995.

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