2013 — Page 86

Hong Kong Ferry (Holdings) Company Limited Annual Report 2013

Notes to the Accounts (Continued)

13

FIXED ASSETS (Continued)

The Group (Continued)

Ferry vessels

and other

Machinery,

Interest in

furniture

Investment

leasehold

Buildings

HK$'000

crafts

and others

Sub-total

properties

land

Total

HK$'000

HK$'000

HK$'000

HK$'000

HK$'000

HK$'000

Cost or valuation:

At 1 January 2013

70,220

131,643

278,004

479,867

1,182,800

159,407

1,822,074

Additions

57

519

1,487

2,063

2,063

Disposals

(69)

(14,085)

(266)

(14,420)

(24,000)

(38,420)

Valuation gains

93,100

93,100

At 31 December 2013

70,208

118,077

279,225

467,510 1,251,900

159,407

1,878,817

Representing:

Cost

Valuation

70,208

118,077

279,225

467,510

159,407

626,917

1,251,900

1,251,900

70,208

118,077

279,225

467,510 1,251,900

159,407

1,878,817

Accumulated amortisation

and depreciation:

At 1 January 2013

59,217

128,076

218,850

406,143

112,162

518,305

Charge for the year

584

681

4,794

6,059

1,369

7,428

Written back on disposals

(69)

(14,085)

(230)

(14,384)

(14,384)

At 31 December 2013

59,732

114,672

223,414

397,818

Net book value:

At 31 December 2013

Note:

113,531

511,349

10,476

3,405

55,811

69,692

1,251,900

45,876

1,367,468

Cost adjustment represents the revision of the original construction cost of the properties completed in prior years, confirmed by the surveyor during the year ended 31 December 2012.